Ultrasound Market Trends

Growing preference for non-invasive diagnostic methods is a major driver of the ultrasound market. As healthcare systems and patients alike seek safer, faster, and more cost-effective diagnostic tools, ultrasound technology is gaining popularity due to its ability to provide real-time imaging without the need for surgical procedures. This increasing demand for non-invasive imaging procedures is common in various medical specialties such as musculoskeletal and diagnostics. 

Technological innovations and advancements in ultrasound equipment are fueling the ultrasound market. Advances in high-resolution imaging, handheld portable ultrasound devices, and the integration of artificial intelligence (AI) for advanced image analysis are changing the landscape of ultrasound diagnostics. These advancements are improving the accuracy, reliability, and efficiency of ultrasound procedures, making it an essential tool for a wider range of clinical applications. 

Even though, the market is witnessing notable advancements in the ultrasound imaging equipment, certain factors such as product recalls, warnings from regulatory bodies, and defective products result in the hampering of the brand image of major companies operating in the market. This results in lesser sales of the product, impacting revenue generation in the market.  

The market is experiencing tremendous growth as a result of innovations in the field of artificial imaging. However, recent recalls of these products are damaging the reputation of the major businesses selling ultrasound equipment. The U.S. FDA issued a class 2 product recalls for Koninklijke Philips N.V.'s S83t compact in May 2022. The transesophageal transducer's defective auto cool feature led to the recall because it posed a risk of patient damage during ultrasound exams. This is expected to limit the growth potential through the forecast period.