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Forecast Period
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2024-2028
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Market Size (2022)
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USD 11.86 Billion
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CAGR (2023-2028)
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4.67%
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Fastest Growing Segment
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Mobile
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Largest Market
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North America
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Market Overview
Global Ultrasound Systems Market has valued at USD 11.86 Billion in 2022 and is anticipated to project impressive growth in the
forecast period with a CAGR of 4.67% through 2028. An ultrasound scan, also
known as sonography, is a medical procedure that utilizes high-frequency sound
waves to generate real-time images of the body's internal structures. It is a
valuable diagnostic tool for medical professionals in identifying and evaluating
conditions affecting various organs and systems, such as the bladder, eyes,
gallbladder, kidneys, liver, ovaries, pancreas, spleen, thyroid, testicles,
uterus, and blood vessels, without the need for surgical intervention.
Additionally, it plays a crucial role in monitoring the development of a fetus
during pregnancy, as ultrasound imaging does not involve the use of radiation,
distinguishing it from other imaging techniques. Moreover, this technique is
employed to assist in guiding needle-based procedures like biopsies or tumor
treatments, examining breast abnormalities, assessing thyroid gland function,
detecting genital and prostate issues, as well as evaluating metabolic bone
diseases.
Key Market Drivers
High Prevalence of Chronic Diseases
The frequency of chronic diseases is on a rapid
rise, leading to a surge in demand for healthcare services. This includes an
increase in patient visits, hospital admissions, and surgeries. In fact,
according to the CDC's statistics from 2022, there were more than 900 million
doctor visits, 155 million visits to the ER, and 45 million outpatient
procedures performed in the United States alone. This escalating demand has
also resulted in a significant increase in the need for medical imaging
equipment, particularly ultrasound systems, which play a crucial role in the
diagnosis and treatment of various conditions. Additionally, the growing
proportion of geriatric populations worldwide who suffer from chronic diseases
has further contributed to the demand for these devices.
Over the past decade, the applications of
ultrasound technology have expanded beyond its traditional use in obstetrics,
cardiology, obesity, and radiography. It is now widely used in clinical areas
such as surgery, gastroenterology, and musculoskeletal. This expansion has been
driven by recent innovations and the introduction of numerous products in the
point-of-care (POC) sector, including handheld devices. As a result, the
deployment of ultrasound systems in primary care, anesthesia, emergency medicine,
and critical care applications has significantly increased. All these factors
are expected to fuel the growth in sales of medical imaging equipment,
particularly ultrasound systems, throughout the forecast period. The
continuous advancements in technology and the increasing prevalence of chronic
diseases worldwide are driving the need for more comprehensive and advanced
healthcare solutions.
Rising Prevalence of Orthopedic Injuries and
Musculoskeletal Disorders
Musculoskeletal disorders are associated with both
occupational injuries and age-related dysfunction. Common musculoskeletal
conditions include rheumatoid arthritis, osteoarthritis, osteoporosis, and
septic arthritis. Among the elderly population, orthopedic injuries such as
bone fractures and broken hips are prevalent.
On a global scale, numerous individuals experience
musculoskeletal conditions. For example, according to the World Health
Organization (WHO) 2021 report, approximately 1.71 billion people worldwide are
affected by musculoskeletal conditions. Furthermore, the WHO predicts an
increase in disabilities related to musculoskeletal disorders in the coming
decades. Moreover, the aging population often encounters age-related issues
such as joint pain, arthritis, and osteoporosis. Arthritis, in particular, is
widespread among adults, impacting millions of individuals worldwide. According
to the CDC, approximately 63.0 million people in the U.S. were diagnosed with
arthritis in 2020, with projections indicating that this number could reach
78.4 million by 2040. These orthopedic conditions have led to an increased
demand for ultrasound systems to analyze and diagnose these disorders.
Increasing Aging Population
The aging population and shifts in societal
behaviors are significant factors contributing to a consistent rise in the
prevalence of chronic diseases. This has resulted in an increased demand for
ultrasound procedures. According to the "World Population Ageing
2020" report published by the Department of Economic and Social Affairs,
United Nations, the global population of individuals aged 65 or above was 727
million in 2020 and is projected to reach 1.5 billion by 2050.
Moreover, knee pain, often associated with knee
osteoarthritis, is highly prevalent among the elderly population and can be
diagnosed using ultrasound. Additionally, lung cancer ranks among the most
widespread chronic illnesses. GLOBOCAN estimates that lung cancer cases will
increase from 2.21 million in 2020 to approximately 3.63 million in 2030.
In addition to chronic diseases, malnutrition poses
a significant risk to the elderly population, leading to increased frailty,
reduced quality of life, and higher mortality rates. Malnutrition often results
in a decrease in muscle mass, which affects muscle strength. Researchers have
explored the use of ultrasonography to measure muscle thickness as a
nutritional assessment tool in older adults. Consequently, the rising
prevalence of chronic diseases and the growing geriatric population are
expected to drive the adoption of ultrasound systems, thereby fueling the
growth of this market.
Introduction To Artificial Intelligence In
Obstetrics And Gynecology Ultrasound Imaging
Artificial intelligence (AI) utilizes data and
algorithms to achieve the same, if not superior, outcomes as humans. AI powers
various applications like face identification, speech recognition in virtual
assistants (such as Amazon Alexa, Apple's Siri, Google Assistant, and Microsoft
Cortana), as well as self-driving automobiles. Notably, AI software has
recently triumphed in world championships in chess, go, and poker.
Within the healthcare sector, AI plays a pivotal
role in driving innovation. It aids in the development of new medications,
offers clinical decision support, and ensures quality assurance in radiography.
The list of AI applications in medical image analysis, regulated by the FDA or
European Union (soon to be governed by the European Union Medical Device
Regulation (EU MDR)), is rapidly expanding. These applications address a wide
range of clinical needs, including arrhythmia detection using smartwatches or fully
automated triage of critical imaging techniques for radiologists.
Deep learning, a significant AI technology, excels
in pattern identification from photographs, making it invaluable to
professionals who heavily rely on image analysis, such as radiologists,
sociologists, and pathologists. While obstetric and gynecologic ultrasonography
are among the most commonly performed imaging tests, AI's impact in this domain
has been limited thus far. Nevertheless, there is immense potential for AI to
assist with repetitive ultrasound tasks, such as automatically selecting high-quality
acquisitions and providing instant quality assurance. Realizing this potential
requires interdisciplinary collaboration between AI developers and ultrasound
specialists.