Canada Ultrasound Devices Market Size & Outlook, 2023-2030
Canada ultrasound devices market, 2018-2030 (US$M)
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Canada ultrasound devices market highlights
- The Canada ultrasound devices market generated a revenue of USD 357.4 million in 2023 and is expected to reach USD 431.4 million by 2030.
- The Canada market is expected to grow at a CAGR of 2.7% from 2024 to 2030.
- In terms of segment, diagnostic ultrasound devices was the largest revenue generating product in 2023.
- Therapeutic Ultrasound Devices is the most lucrative product segment registering the fastest growth during the forecast period.
Ultrasound devices market data book summary
| Market revenue in 2023 | USD 357.4 million |
| Market revenue in 2030 | USD 431.4 million |
| Growth rate | 2.7% (CAGR from 2023 to 2030) |
| Largest segment | Diagnostic ultrasound devices |
| Fastest growing segment | Therapeutic Ultrasound Devices |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Diagnostic Ultrasound Devices, Therapeutic Ultrasound Devices |
| Key market players worldwide | Koninklijke Philips NV, GE HealthCare Technologies Inc Common Stock, Siemens Healthineers AG ADR, Canon Inc, Mindray Medical International, Samsung BioLogics, FUJIFILM Holdings Corp, Konica Minolta Inc, Esaote |
Other key industry trends
- In terms of revenue, Canada accounted for 3.6% of the global ultrasound devices market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. ultrasound devices market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 3,196.4 million by 2030.
Diagnostic ultrasound devices was the largest segment with a revenue share of 84.61% in 2023. Horizon Databook has segmented the Canada ultrasound devices market based on diagnostic ultrasound devices, therapeutic ultrasound devices covering the revenue growth of each sub-segment from 2018 to 2030.
The growing use of ultrasound technology in cardiovascular and abdominal diseases is expected to boost market demand in the country. Furthermore, increasing public and private investments in the development of advanced ultrasound technologies, training programs, and teleradiology services, among others, are likely to aid in market growth.
For instance, in January 2020, the Canadian government announced that it would fund 14 new projects with a total investment of USD 25 million under its digital technology supercluster initiative. The development of an intelligent and integrated Point of Care (POC) ultrasound network was one of the 14 projects to receive funding through this initiative.
The project aimed to develop bedside tools for doctors, handheld ultrasound technology, and cloud-based platforms that could increase quality & quantity of ultrasound services in Canada.
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Ultrasound Devices Market Scope
Ultrasound Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada ultrasound devices market size, by product, 2018-2030 (US$M)
Canada Ultrasound Devices Market Outlook Share, 2023 & 2030 (US$M)
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