Ultrasound Devices Market Size, Share, Growth Analysis, By Display Device(Color Ultrasound Devices, Black & White (B/W) Ultrasound Devices), By Application(Radiology/General Imaging, Obstetrics/Gynecology, Cardiology, Urology), By Region - Industry Forecast 2024-2031

The Global Ultrasound Devices Market size was valued at USD 11 Billion in 2022 and is poised to grow from USD 11.50 Billion in 2023 to USD 16.35 Billion by 2031, at a CAGR of 4.50% during the forecast period (2024-2031). 

The surge in the adoption of ultrasound devices for both diagnostic imaging and therapeutic interventions, combined with a rising prevalence of chronic and lifestyle-related ailments, is poised to propel market expansion.

Furthermore, the growing inclination toward minimally invasive surgical procedures and continuous technological advancements in ultrasound imaging technology stand out as pivotal market drivers. Renowned for its swiftness and cost-effectiveness, ultrasound has secured a prominent position in medical imaging, its safety underscored by its absence of ionizing radiation and magnetic fields.

The ultrasonic medical devices wield a diverse spectrum of applications, spanning diagnostics and therapeutics, and have gained traction across fields from cardiology to oncology.

Notably, the market's trajectory remains intriguing with the expansion of ultrasound into realms like 3D imaging, shear wave elastography, wireless transducer innovations, app-centric ultrasound, and CT/MR fusion, along with laparoscopic ultrasound advancements. For instance, the partnership between Samsung Medison and Intel yielded NerveTrack, an ultrasonography technology facilitating real-time nerve tracking for precise and swift anesthesia delivery.

US Ultrasound Devices Market is poised to grow at a sustainable CAGR for the next forecast year.