Global Ultrasound Devices Market Size & Outlook, 2023-2030
Global ultrasound devices market, 2018-2030 (US$M)
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Global ultrasound devices market highlights
- The global ultrasound devices market generated a revenue of USD 9,794.8 million in 2023 and is expected to reach USD 13,072.7 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 4.2% by 2030.
- In terms of segment, diagnostic ultrasound devices accounted for a revenue of USD 8,254.1 million in 2023.
- Therapeutic Ultrasound Devices is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 9,794.8 million |
| Market revenue in 2030 | USD 13,072.7 million |
| Growth rate | 4.2% (CAGR from 2023 to 2030) |
| Largest segment | Diagnostic ultrasound devices |
| Fastest growing segment | Therapeutic Ultrasound Devices |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Diagnostic Ultrasound Devices, Therapeutic Ultrasound Devices |
Other key industry trends
- In terms of revenue, the North America accounted for 29.8% of the global ultrasound devices market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Canada is the fastest growing regional market and is projected to reach USD 431.4 million by 2030.
Diagnostic ultrasound devices was the largest segment with a revenue share of 84.27% in 2023. Horizon Databook has segmented the Global ultrasound devices market based on diagnostic ultrasound devices, therapeutic ultrasound devices covering the revenue growth of each sub-segment from 2018 to 2030.
The rise in the adoption of ultrasound devices for diagnostic imaging and treatment, coupled with the increasing incidences of chronic and lifestyle-related disorders, is expected to boost the market growth. In addition, the rising demand for minimally invasive surgery and technological advancements in ultrasound imaging technology are some of the key factors driving the market.
Ultrasound is considered one of the most valuable diagnostic tools in medical imaging due to the fact that it is fast and less expensive.In addition, it is safer than other imaging technologies as it does not utilize ionizing radiation and magnetic field. The ultrasonic medical device has a wide range of diagnostic as well as therapeutic applications.
The expansion of ultrasound device applications in 3D imaging, shear wave elastography, development of wireless transducers, app-based ultrasound technology, fusion with CT/MR, and laparoscopic ultrasound is set to keep the market excited for the near future.
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Ultrasound Devices Market Scope
Ultrasound Devices Market Companies
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Global ultrasound devices market size, by regions, 2018-2030 (US$M)
Top 10 countries: Ultrasound devices market size, 2023 (US$M)
Global ultrasound devices market share, by product, 2023 & 2030 (%, US$M)
Ultrasound devices market: Opportunity assessment by country
Global ultrasound devices market, by region, 2023 (US$M)
| Product | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 2,514.0 | 2,587.4 | 2,357.2 | 2,581.0 | 2,829.1 | 2,914.2 | 3,003.0 | 3,095.9 | 3,192.9 | 3,294.4 | 3,400.4 | 3,511.4 | 3,627.6 | 3.2% |
| Europe | 2,109.4 | 2,198.7 | 2,028.5 | 2,249.4 | 2,497.4 | 2,605.8 | 2,720.3 | 2,841.1 | 2,968.9 | 3,103.8 | 3,246.8 | 3,397.9 | 3,557.7 | 4.6% |
| Asia Pacific | 2,212.5 | 2,313.8 | 2,142.1 | 2,383.4 | 2,654.8 | 2,779.1 | 2,910.5 | 3,049.7 | 3,197.0 | 3,352.9 | 3,518.2 | 3,693.3 | 3,878.7 | 4.9% |
| Latin America | 738.3 | 768.1 | 707.7 | 783.5 | 868.6 | 904.8 | 943.1 | 983.5 | 1,026.3 | 1,071.4 | 1,119.1 | 1,169.4 | 1,222.4 | 4.4% |
| MEA | 487.5 | 506.1 | 465.3 | 514.0 | 568.5 | 590.9 | 614.7 | 639.6 | 665.9 | 693.7 | 722.8 | 753.7 | 786.3 | 4.2% |
| Overall | 8,061.7 | 8,374.1 | 7,700.8 | 8,511.3 | 9,418.4 | 9,794.8 | 10,191.6 | 10,609.8 | 11,051.0 | 11,516.2 | 12,007.3 | 12,525.7 | 13,072.7 | 4.2% |
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