Meticulous Research®—a leading market research company, published a research report titled ‘Ultrasound Transducers Market by Product (Convex, Linear, Endocavitary, Phased Array, CW Doppler), Application (Diagnostic [Cardiovascular, OB/GYN, Musculoskeletal), Therapeutic), End User (Hospitals, Diagnostic Centers, ASC) - Global Forecast to 2030”.
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Meticulous Research®, a premier market intelligence firm, has published a comprehensive report forecasting robust growth in the ultrasound transducers market, with an estimated value of $5.5 billion by 2030. This expansion is expected to occur at a Compound Annual Growth Rate (CAGR) of 5.4% from 2023 to 2030. Key factors driving this growth include the rising prevalence of cardiovascular and abdominal disorders, advancements in ultrasound technology, an increase in orthopedic injuries and musculoskeletal disorders, a growing elderly population, and a worldwide increase in hospitals. Furthermore, the escalating adoption of point-of-care ultrasound (POC) devices and the burgeoning economies of emerging markets offer significant growth opportunities for stakeholders in the ultrasound transducers sector.
Pandemic Challenges and Adaptations: During the COVID-19 pandemic, imaging procedures, particularly ultrasound, were critical for patient care, especially for symptomatic individuals. Lung ultrasound (LUS) became essential for assessing COVID-19 patients, with its use extending to bedside applications as point-of-care ultrasound (PoCUS). To ensure infection control during examinations, healthcare settings adopted measures such as utilizing wireless ultrasound probes and portable consoles in sterile covers. Despite disruptions in healthcare services due to the pandemic, the demand for ultrasound procedures rapidly rebounded post-pandemic, returning to pre-pandemic levels as treatments and diagnoses resumed.
Market Segmentation and Growth Dynamics: The ultrasound transducers market is segmented by product type (Convex, Linear, Endocavitary, Phased Array, CW Doppler, and Others), application (Diagnostic and Therapeutic), and end-user (Hospitals & Clinics, Diagnostic Imaging Centers, Ambulatory Surgical Centers, and Others). The convex segment is anticipated to lead the market due to its superior efficacy in imaging deeper organs. In terms of application, diagnostics are expected to hold the largest market share, driven by the demand for non-invasive diagnostic methods across various medical fields. Hospitals and clinics are projected to remain the leading end-users, owing to the widespread adoption of ultrasound systems as a primary imaging modality.
Regional Outlook and Competitive Landscape: North America is expected to dominate the ultrasound transducers market, followed by Europe and Asia-Pacific. North America's leadership is attributed to the high demand for minimally invasive procedures, a prevalence of chronic illnesses, and continuous advancements in ultrasound technology. Major players in the ultrasound transducers market include GE Healthcare, Siemens Healthineers AG, Koninklijke Philips N.V., Fujifilm Sonosite, Inc., Canon Medical Systems Corporation, Hitachi Medical Corporation, Samsung Medison Co., Ltd., Esaote SpA, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Carestream Health, Inc., and ALPINION MEDICAL SYSTEMS Co., Ltd.
Meticulous Research®'s latest report underscores the promising growth prospects and evolving landscape of the ultrasound transducers market, providing valuable insights for industry participants to navigate the market's complexities and capitalize on emerging opportunities.
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