Market Overview
The Ultrasound Transducer Market is estimated to reach at a high CAGR during the forecast period (2024-2031). An ultrasound transducer is a device also known as probe which produces sound waves and makes echoes. The device is used in surgical procedures, diagnostic testing, and noninvasive procedures.
Market Summary and Scope
Metrics | Details |
Market CAGR | High |
Segments Covered | By Product, By Application, By End-User, and By Region |
Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
Fastest Growing Region | Asia Pacific |
Largest Market Share | North America |
Market Dynamics and Trends
The global ultrasound transducer market growth is driven by the rising demand for minimally invasive therapies and the increasing prevalence of cardiovascular, respiratory, and abdominal disorders.
Rising demand for minimally invasive therapies is expected to drive the growth in the forecast period
Rising demand for minimally invasive therapies is a major factor that is driving the market growth. Minimally invasive approaches including ultrasound-guided techniques are being used significantly, thus, several market players are engaged in launching products that is boosting the ultrasound transducer market growth. For instance, in December 2021, Philips introduced cardiac ultrasound solutions for fully integrated echocardiography experience, bringing together new transducer technology, artificial intelligence (AI)-driven automated measurements and remote access at EuroEcho 2021.
Lack of experienced and skilled sonographers is likely to hamper the market growth
Ultrasound Transducer requires skilled sonographers for obtaining an accurate artifact-free recording of good clinical quality and diagnostic value. Ultrasound transducer needs a trained sonographer to capture images in real-time to show the structure and movement of the internal body organs, blood flow through the blood vessels. However, ultrasound transducer produces high-frequency sound waves that travel from the probe through the gel to the body to create an image. Thus, skilled and experienced sonographers are required to operate the imaging equipment and soundwaves.
COVID-19 Impact Analysis on Ultrasound Transducer Market
The COVID-19 pandemic has significantly impacted the ultrasound transducer market. As per an October 2021 published article, titled, "Ultrasound-guided regional anesthesia in COVID-19 and future pandemics: infection control", ultrasound machine, transducer and coupling gel can serve as a vector for transmission of pathogens. In the era of COVID-19 pandemic, standardized strategies are recommended to minimize the risk of spread of COVID-19 to both patients and healthcare providers.
Market Segmentation Analysis
The convex segment is expected to hold the largest share in this market segment
Convex transducer is estimated to witness healthy growth in the future attributed to several benefits associated with this convex transducer device. Benefits such as high efficiency, due to wider footprint and it focuses on the deep part of organ compared to other transducers product types. In addition, these devices also give more clear images and highly improved reliability. The beam shape of the convex transducer is convex and are ideal for in-depth investigation in several disorders.
Moreover, high adoption of convex transducers in the diagnosis of transvaginal, abdominal, and transrectal condition will promote the segment growth. Furthermore, several market players are engaged in strategies such as product launches and approvals. For instance, in March 2021, GE Healthcare released Vscan Air, a wireless, pocket-sized ultrasound that provides crystal clear image quality, whole-body scanning capabilities and intuitive software. The product is one of the smallest and lightweight handheld ultrasound devices and provides whole-body scanning capabilities with crystal clear image quality.
Market Geographical Share
North America region holds the largest market share of global ultrasound transducer market
North America is expected to hold a significant market share in the global Ultrasound Transducer Market due to the rising prevalence of chronic diseases, high demand for technologically advanced medical devices, growing research and development expenditure, rising patient preference for early diagnosis and increasing demand for the ultrasound system. For instance, according to Centres for Disease Control and Prevention (CDC), in September 2020, heart disease will be the leading cause of death in the United States. Every year about 805,000 Americans has a heart attack.
The United States owns the largest share of the Ultrasound Transducer Market in the North American region. Several market players are engaged in implementing strategic initiatives that boost the market growth. For instance, Canon Medical USA Inc. delivers high performance for multiple clinical uses at an affordable price. Such product launches are expected to fuel the demand for the ultrasound transducer market.
Companies and Competitive Landscape
The global ultrasound transducer market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Koninklijke Philips N.V, Siemens Healthineers, GE Healthcare, Hitachi Medical Systems, FUJIFILM Sonosite, Inc, Shenzhen Mindray Bio-Medical Electronics Co., Ltd, Canon Medical Systems Corporation, ESAOTE SPA, and Samsung Medison Co., Ltd. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Medical Linear Accelerator globally. For instance, in January 2022, NanoVibronix Inc. revealed that Delta Medical, LLC, a Service-Disabled Veteran-Owned Small Business (“SDVOSB”) has been added to the company’s eco-system of distribution channels to help drive sales of its PainShield products to Veteran’s Administration hospitals and healthcare facilities. PainShield is an ultrasound device, consisting of a reusable driver unit and a disposable patch, which contains a proprietary therapeutic transducer.
Global Ultrasound Transducer Market – Key Companies to Watch
Koninklijke Philips N.V
Company Overview: Koninklijke Philips N.V. is a Dutch multinational conglomerate corporation. Philips was formerly one of the largest electronics companies globally, currently focused on the area of health technology, with other divisions being divested. Philips is organized into three main divisions: Personal Health (formerly Philips Consumer Electronics and Philips Domestic Appliances and Personal Care), Connected Care, and Diagnosis & Treatment (formerly Philips Medical Systems). It currently employs around 80,000 people across 100 countries.
Product Portfolio: It includes product like eL18-4, L12-4, X6-1, BP10-5ec etc.
V9-2 transducer- PureWave mechanical volume transducer with advanced 3D/4D imaging support including TrueVue, MPR touch and FlexVue.