Ultrasound Transducer Market Size, Share, Growth Analysis, By Product(Linear, Convex, Phased Array, Endocavitary), By Application(Cardiovascular, General Imaging, Musculoskeletal, OB/GYN), By End-Use(Hospital, Clinics, Diagnostic center, Ambulatory Surgery Centers (ASCs)), By Region(North America, Europe, Asia Pacific) - Industry Forecast 2024-2031

Ultrasound Transducer Market Competitive Landscape

To understand the competitive landscape, we are analyzing key Ultrasound Transducer Market vendors in the market. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the Ultrasound Transducer Market.

To validate our hypothesis and validate our findings on the market ecosystem, we are also conducting a detailed porter's five forces analysis. Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of New Entry each force is analyzed by various parameters governing those forces.

Key Players Covered in the Report:

• are focusing on the development of high-powered, handheld, single-use ultrasound transducers. Moreover, companies are launching ultrasound devices incorporated with the advanced transducer. These advanced products are specially designed for various applications including vascular and muscular-skeletal. Introduction of novel devices such as EPIQ Elite ultrasound system, SiliconWave L38-22 linear array transducer, and mi-ultra with both linear & convex offering is anticipated to boost the market during the forecast period.
• Increasing the use of ultrasound machines owing to its high efficiency and safety is expected to drive the market. These devices offer accurate diagnosis and real-time data to the physicians for better diagnosis. Owing to these advantages, the demand for these systems is expected to be on a steep rise during the forecast period.
• Product Type Insights
• Convex segment leads the ultrasound transducers market owing to the high efficiency of the product. It offers a wider footprint as compared to linear-array configuration and focuses view on the deep part of the targeted region. It also displays a clearer picture with highly improved reliability. These factors are anticipated to fuel the demand for a convex scanning transducer.
• Convex transducers are also known as curved transducer since the arrangement of piezoelectric crystal is curvy (rounded). The beam shape is ideal for in-depth investigation. They are widely used for the diagnosis of abdominal, transvaginal, and transrectal conditions.
• The linear segment is expected to grow at a significant pace during the forecast period. This transducer is ideal for imaging external structures & vessels and hence are also known as vascular probes. The shape of the beam is rectangular along with high-quality near-field resolution. The footprint, frequency, and application depend on 2D or 3D imaging. 2D imaging linear transducer is widely used for vascular examinations, venipuncture, blood vessel visualization, and intraoperative procedures. 3D imaging linear transducers are used in imaging of thyroid, breast, and arteria carotis.
• Application Insights
• The general imaging segment accounted for the largest market share in 2018 owing to the high demand for radiation-free and non-invasive diagnostic modalities. The usage of ultrasound is becoming prominent for general imaging as it helps in capturing effective images of soft tissue.
• The cardiovascular segment is expected to showcase the fastest growth owing to a rise in demand for accurate diagnostic options, the introduction of specially designed products, rising prevalence of heart conditions, and growing awareness among individuals regarding timely treatment.
• Others (urology, transrectal) segment is expected to capture significant market share in the forecast period owing to the high demand for ultrasound devices in diagnostic as well as surgical procedures. Recently, a study found that ultrasound can be used to assess the risks of deep vein thrombosis (DVT) after ablation procedures. Applications of ultrasound are expected to expand significantly during the forecast period
• End-Use Insights
• Hospital segment is anticipated to lead the market in the next seven years owing to the high adoption of ultrasound systems as the primary imaging option. The availability of portable ultrasound systems and usage of this modality in each department is anticipated to boost the demand for ultrasound transducers.
• The rising number of healthcare facilities in the emerging economies is one of the major demand drivers of the ultrasound transducers. An increasing number of skilled professionals in hospitals and growing awareness regarding innovative devices are few other driving factors affecting the segment growth.
• The clinic segment is expected to grow considerably during the forecast period owing to the increasing number of professionals and a growing number of clinics in both developing and developed economies. The availability of affordable ultrasound systems which can be used in small clinic settings is expected to play an important role in segment growth.
• Regional Insights
• North America is anticipated to lead the market owing to the high adoption of ultrasound modality in general diagnostics and the rising prevalence of lifestyle-associated chronic diseases. Also, high demand for technologically advanced medical devices is expected to propel the market growth in the region.
• The Asia Pacific is anticipated to grow significantly in the forthcoming years owing to the rapidly growing geriatric population, improving healthcare facilities for treating heart disorders, and growing healthcare expenditure. Blooming medical tourism in Asia Pacific economies is also expected to fuel the ultrasound transducer market in the region.
• Prospering medical tourism in developing countries such as India, Thailand, Brazil, Mexico, and the Philippines is boosting the demand for world-class healthcare services. This is expected to fuel the number of imported ultrasound devices in these countries. Major market players are strategizing to increase their presence in these regions and offer products at competitive prices.
• Ultrasound Transducer Market Share Insights
• The major players profiled in the market comprise GE Healthcare, Koninklijke Philips N.V., Siemens, FUJIFILM SonoSite, Samsung Medison, Hitachi, Esaote, Mindray, SIUI, Shenzhen Ruqi Technology, SonoScape Medical, and Shenzhen Jiarui Electronic Technology.
• These players are focusing on adopting various growth strategies such as new product launches, innovations in the existing products, and mergers and acquisitions for the introduction of more efficient medical diagnostic devices and strengthening their market presence. Lately, Philips acquired Shanghai Apex Electronics Technology (Apex), a China-based manufacturer of ultrasound transducers for an undisclosed fee. The acquisition aims at strengthening Philip’s portfolio of manufacturing transducers that are essential for determining the image quality of these systems.
• KEY MARKET SEGMENTS
• By Product
• Linear
• Convex
• Phased Array
• Endocavitary
• CW Doppler
• Others
• By Application
• Cardiovascular
• General Imaging
• Musculoskeletal
• OB/GYN
• Vascular
• Others
• By End-Use
• Hospital
• Clinics
• Diagnostic center
• Ambulatory Surgery Centers (ASCs)
• By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• KEY PLAYERS
• E Healthcare
• Koninklijke Philips N.V.
• Siemens
• FUJIFILM SonoSite
• Samsung Medison
• Hitachi
• Esaote
• Mindray
• SIUI
• Shenzhen Ruqi Technology
• SonoScape Medical
• Shenzhen Jiarui Electronic Technology