An overview of the global ultrasound market
May 05, 2023
Ultrasound
By Rachel Stolpa
The global ultrasound market was worth an estimated $6.7 billion in revenue in 2021 and is poised to reach $9 billion by 2026, growing at a CAGR of 6.3% from 2021-2026, according to Markets and Markets. Ultrasound is widely regarded as a highly valuable diagnostic tool in medical imaging due to its speed and affordability. Moreover, it is considered safer than other imaging technologies since it does not involve the use of radiation or magnetic fields.
Portable ultrasound devices had the largest revenue share of 69% in 2021. The ability to transport the system and avoid transferring critically ill patients assisted this jump in revenue. The portability alone showed improvement in patient safety, recovery, and satisfaction.
Handheld devices make up a subcategory of the portable ultrasound market segment. Due to COVID-related events and efficiency in treating critical care patients, as well as extreme portability, there has been a significant increase in usage. Handheld diagnostic technology is expected to have the fastest growth rate due to the growing trends of home healthcare and remote patient monitoring.
Technology advancements are anticipated to expand the market size, and the majority of customer activity seen over the past 12 months by symplr has been from GE, Sonosite, and Philips.
GE Healthcare: Vendor, GE Healthcare has accounted for 40% of purchase considerations within the general market category in the last 12 months. GE has systems in all categories including the Logiq P9 xdclear and Voluson E6 in economy, Logiq S8 in performance, the Logiq E10 R3 and Logiq Fortis in the premium level and the Venue Go in compact/portable. GE Healthcare’s variety of system configurations and price point add to their popularity.
Sonosite: Vendor, Fujifilm/Sonosite has, in the general compact portable category, accounted for 26% of purchase considerations in the general ultrasound market. Within the compact portable market, Sonosite holds the top 3 systems: the PX, SII and the LX. These systems all come with a 5-year/60-month standard warranty.
Philips: Vendor, Philips accounts for 10% of purchase considerations in the general market. Philips has systems in the compact portable, economy, and premium market segments: the Sparq (compact portable), the Affinity 50 (economy), and Epiq Elite G/Advanced G and 7G (premium).
The vendors are then categorized into market segments; Premium, Performance, Economy, and Compact Portable.
Premium: These systems comprising cutting-edge applications, advanced workflow, and functional software are primarily in demand by high-volume facilities and research institutions, owing to their higher cost.
The global ultrasound market was worth an estimated $6.7 billion in revenue in 2021 and is poised to reach $9 billion by 2026, growing at a CAGR of 6.3% from 2021-2026, according to Markets and Markets. Ultrasound is widely regarded as a highly valuable diagnostic tool in medical imaging due to its speed and affordability. Moreover, it is considered safer than other imaging technologies since it does not involve the use of radiation or magnetic fields.
Portable ultrasound devices had the largest revenue share of 69% in 2021. The ability to transport the system and avoid transferring critically ill patients assisted this jump in revenue. The portability alone showed improvement in patient safety, recovery, and satisfaction.
Handheld devices make up a subcategory of the portable ultrasound market segment. Due to COVID-related events and efficiency in treating critical care patients, as well as extreme portability, there has been a significant increase in usage. Handheld diagnostic technology is expected to have the fastest growth rate due to the growing trends of home healthcare and remote patient monitoring.
Technology advancements are anticipated to expand the market size, and the majority of customer activity seen over the past 12 months by symplr has been from GE, Sonosite, and Philips.
GE Healthcare: Vendor, GE Healthcare has accounted for 40% of purchase considerations within the general market category in the last 12 months. GE has systems in all categories including the Logiq P9 xdclear and Voluson E6 in economy, Logiq S8 in performance, the Logiq E10 R3 and Logiq Fortis in the premium level and the Venue Go in compact/portable. GE Healthcare’s variety of system configurations and price point add to their popularity.
Sonosite: Vendor, Fujifilm/Sonosite has, in the general compact portable category, accounted for 26% of purchase considerations in the general ultrasound market. Within the compact portable market, Sonosite holds the top 3 systems: the PX, SII and the LX. These systems all come with a 5-year/60-month standard warranty.
Philips: Vendor, Philips accounts for 10% of purchase considerations in the general market. Philips has systems in the compact portable, economy, and premium market segments: the Sparq (compact portable), the Affinity 50 (economy), and Epiq Elite G/Advanced G and 7G (premium).
The vendors are then categorized into market segments; Premium, Performance, Economy, and Compact Portable.
Premium: These systems comprising cutting-edge applications, advanced workflow, and functional software are primarily in demand by high-volume facilities and research institutions, owing to their higher cost.
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