Ultrasound Market Size

Ultrasound Market size was valued at USD 8.52 Billion in 2023 and is poised to grow from USD 9.06 Billion in 2024 to USD 0 Billion by 2032, growing at a CAGR of 6.34% during the forecast period (2025-2032).

The global ultrasound industry is characterized by fierce competition among established players and an increasing number of new start-ups. Leading players such as GE Healthcare, Philips Healthcare, Siemens Healthiners, and Canon Medical Systems dominate the market with their extensive portfolio of advanced ultrasound systems. These companies focus on integrating cutting-edge technologies such as AI, 3D/4D imaging, and elastography to enhance diagnostic capabilities and maintain their competitive edge. Emerging players and startups are driving innovation in portable and handheld devices, catering to the rising demand for point-of-care and telemedicine applications.  'GE Healthcare ', 'Koninklijke Philips N.V. ', 'Canon Medical Systems Corporation ', 'Siemens AG ', 'Fujifilm Corporation ', 'Hologic, Inc. ', 'Samsung Electronics Co., Ltd. ', 'Mindray Bio-Medical Electronics Co., Ltd. ', 'Esaote SPA ', 'Chison Medical Technologies Co., Ltd. ', 'Neusoft Corporation ', 'Mobisante, Inc. ', 'Clarius ', 'Medgyn Products, Inc. ', 'Promed Technology Co., Ltd. ', 'White Eagle Sonic Technologies, Inc. ', 'Telemed Ultrasound ', 'Shenzhen Ricso Technology Co., Ltd. ', 'Guangdong Youkey Medical Co., Ltd. ', 'Echonus Inc. ', 'Shenzhen Biocare Bio-Medical Equipment Co., Ltd. ', 'Shantou Institute of Ultrasonic Instruments Co., Ltd. (SIUI) ', 'Butterfly Network, Inc. ', 'Alpinion Medical Systems Co., Ltd. ', 'Edan Instruments, Inc.'

Growing End-user Interest for Refurbished Equipment: Even though diagnostic ultrasound offers a wide range of applications vital for maternal and fetal health. Full-size ultrasound devices are prohibitively costly and extremely huge, rendering them unsuitable for use in community settings. The demand for Ultrasound devices is decreasing due to these factors. The demand for remanufactured ultrasound equipment has developed because of the high pricing of innovative ultrasound technologies (such as focused ultrasound), high expenses associated with the maintenance of the machine. 

As per the global ultrasound market outlook, North America is dominating. The presence of a significant number of competitors in the region and an increasing number of cancer cases are key factors contributing to regional market growth. Increasing expenditure on healthcare, a greater understanding of various methods of diagnosis, and favorable policies for reimbursement are projected to drive regional market growth. One of the main drivers of the regional market growth is the presence of a sizable number of market competitors in the region, as well as the rising incidence of cancer cases. National Cancer Institute states that 1,806,590 new cases of cancer are expected to be identified in the United States in 2022. The high rate of modern technology adoption in the area is also increasing the demand for ultrasound equipment.