United States Ultrasound Devices Market Size (2024 - 2029)

The United States ultrasound device market is projected to experience significant growth over the forecast period, driven by factors such as the increasing prevalence of chronic diseases, technological advancements, and expanding applications of ultrasound. The market's expansion is further supported by new product launches and innovations from key players, as well as regulatory approvals from the United States Food and Drug Administration. Despite the initial impact of the COVID-19 pandemic, which led to a decline in imaging volumes, the market has shown resilience and is expected to continue its upward trajectory.

Market Size of United States Ultrasound Devices Industry

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United States Ultrasound Devices Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 2.95 Billion
Market Size (2029) USD 3.86 Billion
CAGR (2024 - 2029) 5.48 %
Market Concentration Medium

Major Players

United States Ultrasound Devices Market Major Players

*Disclaimer: Major Players sorted in no particular order

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US Ultrasound Devices Market Analysis

The United States Ultrasound Devices Market size is estimated at USD 2.95 billion in 2024, and is expected to reach USD 3.86 billion by 2029, growing at a CAGR of 5.48% during the forecast period (2024-2029).

COVID-19 has impacted the patient's access to healthcare facilities as the pandemic has forced the patients to wait for life-saving imaging procedures such as ultrasound imaging. The pandemic has increased the waiting time for patients to have their imaging done. According to an article published by the Radiology Society of North America in April 2021, titled,' The Economic Impact of the COVID-19 Pandemic on Radiology Practices', The pandemic had a profound impact on radiology practices across the country. Policy measures adopted to slow the transmission of disease are decreasing the demand for imaging independent of COVID-19. Hospital preparations to expand crisis capacity are further diminishing the amount of appropriate medical imaging that can be safely performed. Furthermore, according to Jason J. Naidich's article titled 'Impact of the COVID-19,) Pandemic on Imaging Case Volumes,' published in the Journal of the American College of Radiology in May 2020, the total imaging volume in the first half of 2020 was down 12.29% from 2019. Imaging volumes decreased by 28.10% across all patient care sites and modality types after COVID-19. This indicates that imaging techniques resulted in a decline in market volumes. The article also noted that the imaging volume decline differed by modality type, with mammography showing the highest reduction (94%) by week 16, followed by nuclear medicine (85%), MRI (74%), ultrasound (64%), interventional radiology (56%), CT (46%), and x-ray (22%). However, the radiology clinics mitigated the impact of the COVID-19 epidemic on imaging case volumes and established recovery plans in 2021. Therefore, it is observed that COVID-19 significantly impacted the market studied in the United States.

The major factors affecting the growth of the market are the increasing incidences of chronic diseases, increasing technological advancements, and the growing applications of ultrasound.

Furthermore, with the new research and developments and innovations in the area, coupled with the launch of new products by the key market players and new approvals from the United States Food and Drug Administration, the ultrasound market is further expected to grow over the forecast period of the study. For instance, in October 2021, Mindray North America launched a new product that is maximizing the potential of ultrasound in the Point of Care (POC) market: the TE7 Max Ultrasound System. This new product has an unrivaled 21.5-inch vertically oriented high-definition LED display and a sealed touch-based interface to truly maximize what clinicians can see. 

Therefore, owing to the above-mentioned factors, it is expected that the market studied will witness healthy growth over the forecast period.

US Ultrasound Devices Industry Segmentation

As per the scope of the report, a diagnostic ultrasound, also known as sonography, is an imaging technique that uses high-frequency sound waves to produce images of the different structures inside the body. They are being utilized for the assessment of various conditions in the kidney, liver, and other abdominal conditions. They are also majorly used in chronic diseases, which include health conditions, such as heart disease, asthma, cancer, and diabetes. Therefore, these devices are being utilized as both diagnostic imaging and therapeutic modality and have a wide range of applications in the medical field. The United States Ultrasound Devices market is segmented by Application (Anesthesiology, Cardiology, Gynecology/Obstetrics, Musculoskeletal, Radiology, Critical Care, and Other Applications), Technology (2D Ultrasound Imaging, 3D and 4D Ultrasound Imaging, Doppler Imaging, and High-intensity Focused Ultrasound), Type (Stationary Ultrasound and Portable Ultrasound). The report offers the value (in USD million) for the above segments.

By Application
Anesthesiology
Cardiology
Gynecology/Obstetrics
Musculoskeletal
Radiology
Critical Care
Other Applications
By Technology
2D Ultrasound Imaging
3D and 4D Ultrasound Imaging
Doppler Imaging
High-intensity Focused Ultrasound
By Type
Stationary Ultrasound
Portable Ultrasound
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United States Ultrasound Devices Market Size Summary

The United States ultrasound device market is poised for significant growth over the forecast period, driven by increasing incidences of chronic diseases, technological advancements, and expanding applications of ultrasound technology. The market has experienced challenges due to the COVID-19 pandemic, which led to a decrease in imaging volumes across various modalities, including ultrasound. However, the market has shown resilience, with radiology clinics implementing recovery plans to mitigate the pandemic's impact. The introduction of innovative products and new FDA approvals are expected to further propel market growth. Key players like Mindray North America and General Electric are actively launching new products to enhance ultrasound capabilities, particularly in the Point of Care and anesthesiology sectors.

The market landscape is characterized by the presence of major companies such as Philips, Siemens, Canon, and Fujifilm, which are investing in research and development to advance ultrasound imaging technologies. These companies are focusing on developing portable and advanced devices that cater to both developed and emerging markets. Recent developments, such as Royal Philips' launch of the Ultrasound Workspace and GE Healthcare's Vscan Air, highlight the industry's commitment to enhancing ultrasound applications and improving patient care. These advancements are expected to drive the adoption of ultrasound devices, supporting the market's healthy growth trajectory in the coming years.

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United States Ultrasound Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Technological Advancements

      2. 1.2.2 Increasing Incidences of Chronic Diseases

    3. 1.3 Market Restraints

      1. 1.3.1 Strict Regulations

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Application

      1. 2.1.1 Anesthesiology

      2. 2.1.2 Cardiology

      3. 2.1.3 Gynecology/Obstetrics

      4. 2.1.4 Musculoskeletal

      5. 2.1.5 Radiology

      6. 2.1.6 Critical Care

      7. 2.1.7 Other Applications

    2. 2.2 By Technology

      1. 2.2.1 2D Ultrasound Imaging

      2. 2.2.2 3D and 4D Ultrasound Imaging

      3. 2.2.3 Doppler Imaging

      4. 2.2.4 High-intensity Focused Ultrasound

    3. 2.3 By Type

      1. 2.3.1 Stationary Ultrasound

      2. 2.3.2 Portable Ultrasound

United States Ultrasound Devices Market Size FAQs

The United States Ultrasound Devices Market size is expected to reach USD 2.95 billion in 2024 and grow at a CAGR of 5.48% to reach USD 3.86 billion by 2029.

In 2024, the United States Ultrasound Devices Market size is expected to reach USD 2.95 billion.

United States Ultrasound Device Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)