Global Next-Generation Ultrasound Systems Market Grows Steadily at a CAGR of 9.3%

Introduction

next generation ultrasound systems marketUltrasonic imaging has been utilized for a long time to diagnose disease, examine anatomic structures, and guide therapeutic therapies. A lack of ionizing radiation and real-time dynamic imaging are two advantages of ultrasonic imaging over other approaches. In addition, it is the least-priced and most popular imaging method. Nonetheless, ultrasonography has remained primarily unchanged since the 1970s. This technique evaluates and collects fundamental anatomical data, including organ length, cortical thickness, collecting system, and ductal dilatation. Doppler ultrasound permits the evaluation of vascular physiology, including blood flow velocity, which, in addition to morphological imaging, aids in determining the hemodynamic physiologic importance of stenosis.

Market Dynamics

Advent of Point-of-Care Ultrasound Systems Drive the Global Market 

The Point-of-Care (POC) industry is rapidly increasing as POC devices can quickly rule out cardiac and vascular disorders. The Point-of-Care Ultrasound System (POCUS) is a compact, pocket-sized device that provides a short peek into the patient for quick assessments or to evaluate if a higher degree of Imaging is required. Critical care, emergency medicine, internal medicine, and anesthesia are the primary applications for the POCUS. Several facilities conduct all POC ultrasounds using complete ultrasound systems.

The necessity for such portable devices will allow the technician/operator to go throughout the hospital to perform bedside ultrasounds, greatly benefiting these institutions. Fujifilm Sonosite Inc., Healcerion Co. Ltd., Philips, Hologic Inc., Butterfly Network Inc., and numerous others offer portable ultrasound products. The handheld wireless ultrasound technology primarily employs a smartphone platform that allows users to tag their peers for a rapid consultation outside the hospital. Next-generation ultrasound systems are becoming more compact, inexpensive, and capable. This technology is still in its infancy, but it has the potential to become widespread due to its application and demand.

Advancements in Technology Creates Tremendous Opportunities

The producers make constant efforts to advance ultrasound technologies. The current advancement is 3D ultrasonography. Currently, the framerate of the 3D ultrasound is slower than that of the 2D ultrasound. The higher cost and slower framerate of 3D ultrasound have limited its widespread adoption. Yet, it has applications in specific fields, such as transcatheter structural heart intervention. As it provides a surgeon's vision,' 3D ultrasound is essential for operations such as structural heart evaluation, as it helps guide catheter procedures in complex anatomy.

With an increased framerate, a high resolution, and enhanced color doppler, the producers of ultrasound devices are advancing. Hence, 3D ultrasound will surpass 2D ultrasound as the dominant market technology. The following goods feature improvements in 3D technology:

• Siemens: eSie Flow valve analysis software, a 3D heart valve evaluation ultrasound technology
• General Electric: cSound image reconstruction technology, which contributes to enhanced image quality, workflow, volume framerate, and quantification for the Vivid E95 cardiac imaging system.
• Toshiba: Launch of a 3D version on the Aplio 300 and 500 devices that displays tiny vessels with Doppler flow in grayscale or false-color 3D reconstructions that may be rotated for enhanced visibility.

Regional Insights

Asia Pacific is the most significant shareholder in the global market and is anticipated to exhibit a CAGR of 11.2% during the forecast period. Asia-Pacific is an expanding market for ultrasound systems of the next generation due to increased per capita income and quick technological improvements. Moreover, the Asia-Pacific area includes significant economies such as China and India, which account for 36.0% of the world's population or 67.0% of the Asia-Pacific region's overall population and hence serve as rising markets. Asia-Pacific is the largest market for ultrasound systems of the next generation and is likely to maintain its dominance until the end of the forecast period. The China market drives the majority of market expansion. Rising patient adoption of sophisticated technology, which can provide more information and shorten testing times, is one of China's most important factors driving market expansion. It is anticipated that the use of ultrasound systems of the next generation will increase substantially in developing nations.

Key Highlights

• The global next-generation ultrasound systems market was worth USD 9,010.52 million in 2022. It is anticipated to reach an expected value of USD 21,080.63 million by 2031 at a CAGR of 9.3% during the forecast period (2023-2031).
• Based on technology, the global next-generation ultrasound systems market has been segmented into 4D/3D ultrasound systems, 2D ultrasound systems, and others (fusion imaging, harmonic tissue imaging). The 2D ultrasound systems segment accounted for the largest market share and is estimated to exhibit a CAGR of 9.4% during the forecast period.
• By end users, hospitals and the global next-generation ultrasound systems market have been segmented into diagnostic and ambulatory surgical centers (ASCs). The hospital segment accounted for the largest market share and is estimated to exhibit a CAGR of 8.4% during the forecast period.
• By product types, the global next-generation ultrasound systems market has been segmented into diagnostic and therapeutic procedures. The diagnostic segment accounted for the largest market share and is estimated to exhibit a CAGR of 9.5% during the forecast period.
• By application, the global next-generation ultrasound systems market has been segmented into general Imaging, cardiovascular Imaging, obstetrics and gynecology Imaging, vascular Imaging, orthopedic/musculoskeletal Imaging, urology imaging, and other imaging. The general imaging segment accounted for the largest market share and is estimated to exhibit a CAGR of 8.2% during the forecast period.
• By portability, the global next-generation ultrasound systems market has been segmented into cart/trolley-based systems, portable systems, and handheld devices and wearables. The cart/trolley-based systems segment accounted for the largest market share and is estimated to exhibit a CAGR of 8.2% during the forecast period.
• Asia Pacific is the most significant shareholder in the global market and is anticipated to exhibit a CAGR of 11.2% during the forecast period.

Competitive Players

Competitive Players

The global next-generation ultrasound systems market major companies are Siemens Healthineers, Koninklijke Philips N.V., General Electric Company, Shimadzu Corporation, Fujifilm Holdings Corporation, Samsung Electronics Co., Ltd., and Canon Inc.

Recent Developments

Market News

• In June 2022, GE Healthcare unveiled its most advanced ultrasound yet, the next-generation Voluson™ Expert 22. This latest addition to GE Healthcare’s award-winning Women’s Health portfolio utilizes graphic-based beam former technology, producing higher-quality images and offering greater flexibility in imaging functions.
• In September 2022, Fujifilm received the CE mark for the next-generation ultrasound endoscope.

Segmentation

Global Next-Generation Ultrasound Systems Market: Segmentation

By Technology

• 4D/3D Ultrasound Systems 
• 2D Ultrasound Systems 
• Others (Fusion Imaging, Tissue Harmonic Imaging)

By Product Type

• Diagnostic Ultrasound Systems 
• Therapeutic Ultrasound Systems 
• High-Intensity Focused Ultrasound 
• Extracorporeal Shock Wave Lithotripsy 
• Doppler Ultrasound 

By Portability

• Cart/Trolley-Based Systems 
• Handheld Devices and Wearables 
• Portable Systems 

By Applications 

• General Imaging 
• Cardiovascular Imaging 
• Vascular Imaging 
• Obstetrics and Gynecology Imaging 
• Lung Imaging 
• Urology Imaging 
• Orthopedics/Musculoskeletal Imaging 
• Other Imaging 

By Regions

• North America
• Europe
• Asia-Pacific 
• Rest-of-the-World