Ultrasound Market Regional Insights

Market Momentum & Strategic Outlook

The global ultrasound market, valued at US$8.65 billion in 2023, reached approximately US$9.32 billion in 2024. Over the forecast period from 2024 to 2030, the market is projected to grow at a compound annual growth rate (CAGR) of 6.8%, achieving a valuation of US$13.87 billion by 2030.

This growth is driven by several key factors:

• Increasing demand for non-invasive diagnostic imaging in both developed and emerging economies.
• Rising prevalence of chronic diseases requiring imaging, such as cardiovascular, obstetric, and musculoskeletal conditions.
• Advancements in portable and point-of-care ultrasound systems, which are expanding clinical accessibility.
• Growing investments in AI-powered imaging analysis and telemedicine integration.

Strategically, leading manufacturers are expanding their product portfolios toward 3D/4D imaging, miniaturized handheld systems, and AI-enhanced diagnostic solutions. The market is witnessing a clear shift toward value-based healthcare, prompting vendors to focus on cost-efficient, multi-application devices.

Regional  Analysis

North America remains the largest market, driven by strong healthcare infrastructure, early technology adoption, and continuous innovation by major players such as GE HealthCare and Philips. The U.S. accounts for a dominant share due to high diagnostic imaging utilization rates and supportive reimbursement frameworks.

Europe follows closely, with Germany, France, and the UK leading adoption. The region’s focus on prenatal and cardiovascular diagnostics supports steady growth, alongside an increased push for digital health transformation.

Asia-Pacific is projected to be the fastest-growing region through 2030. Rapid urbanization, expanding healthcare access, and government initiatives for maternal and child health in countries such as China, India, and Japan are fueling demand. Local manufacturers in China are also increasing competitiveness through lower-cost, high-quality systems.

Latin America and the Middle East & Africa (MEA) show emerging potential, particularly due to growing private healthcare investments and adoption of portable ultrasound solutions in remote areas.

Country Coverage:

While ultrasound adoption is global, country-level market dynamics vary significantly:

• United States holds the largest share, accounting for nearly 25% of the total global market volume, supported by high diagnostic utilization.
• China represents one of the fastest-growing markets, driven by expanding hospital networks and strong domestic manufacturing.
• India and Japan collectively account for a significant share of the Asia-Pacific market, bolstered by government healthcare programs and local R&D investment.
• Germany leads the European region, emphasizing advanced imaging for precision diagnostics.

Together, these top five countries represent over 60% of global ultrasound device sales, highlighting concentrated demand in technologically advanced and rapidly developing economies.

Key Highlights by Stakeholders

• Manufacturers: Companies like GE HealthCare, Philips, Canon Medical, Siemens Healthineers, and Samsung Medison are enhancing their ultrasound portfolios with AI-driven diagnostic capabilities and cloud connectivity.
• Regulators: The U.S. FDA and European CE authorities are accelerating approvals for portable and handheld ultrasound systems, improving market access.
• Healthcare Providers: Hospitals and clinics are increasingly adopting wireless and handheld devices to improve patient throughput and bedside care.
• Investors: Rising venture capital activity is seen in startups focusing on AI-based image interpretation and tele-ultrasound solutions.

Key Strategies

Leading players are focusing on a mix of product innovation, partnerships, and regional expansion to strengthen market presence:

• Innovation: Introduction of AI-assisted imaging, 3D/4D scanning, and hybrid ultrasound-MRI systems.
• Partnerships: Collaborations between device manufacturers and cloud service providers to enable real-time image sharing and remote diagnostics.
• Localization: Establishing manufacturing and distribution centers in high-growth regions like Asia-Pacific to reduce costs and improve access.
• Sustainability: Companies are also exploring energy-efficient designs and recyclable materials in production to align with global ESG goals.

Recent Development

• GE HealthCare launched its new Voluson Signature 20 Series, featuring AI tools for women’s health imaging.
• Philips announced integration of ultrasound with its digital health platform to improve workflow and diagnostics efficiency.
• Siemens Healthineers acquired an AI imaging firm to enhance its smart diagnostic portfolio.
• Butterfly Network, a pioneer in handheld ultrasound devices, reported expansion in developing markets with affordable portable solutions.

Few Questions Answered by the Global Ultrasound Market Research Insights

1. What drives demand for ultrasound technology?
Growing preference for non-invasive, radiation-free imaging and the rising burden of chronic diseases are the primary demand drivers.

2. Which region leads the ultrasound market?
North America leads in revenue share, while Asia-Pacific shows the fastest growth rate due to rising healthcare access and affordability.

3. What are the main technological trends?
Artificial intelligence integration, miniaturization, and point-of-care devices are transforming clinical workflows and accessibility.

4. How are companies competing?
By focusing on advanced imaging technologies, regional expansions, and partnerships to enhance digital healthcare capabilities.

5. What is the market outlook for 2030?
The market is expected to reach US$13.87 billion by 2030, underpinned by sustained innovation and expanding global healthcare demand.

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