Global Ultrasound Testing Equipment Market Size By Type (Volumetric Examination, Surface Examination), By Application (Automotive, Mining), By Region, And Segment Forecasts, 2023 to 2032

The Global Ultrasound Testing Equipment Market was valued at USD 8.5 billion in 2023 and is projected to reach USD 13.6 billion by 2031, growing at a CAGR of 6.2% during the forecast period from 2023 to 2031. This market is driven by the increasing need for non-invasive diagnostic tools, advancements in ultrasound imaging technology, and the rising prevalence of chronic diseases requiring regular monitoring. Ultrasound testing equipment is essential in healthcare for providing precise, real-time imaging for diagnosis, treatment planning, and monitoring various medical conditions. With innovations enhancing resolution and portability, ultrasound technology is seeing expanded applications beyond traditional settings, such as point-of-care diagnostics and emergency care.

Drivers:

Rising Demand for Non-Invasive Diagnostics: The need for minimally invasive diagnostics is increasing, propelling the demand for ultrasound imaging as a safer and patient-friendly option.

Technological Advancements in Imaging: Innovations in high-resolution imaging, 3D and 4D ultrasound, and Doppler ultrasound are improving the quality and efficiency of diagnostics, boosting market growth.

Increasing Prevalence of Chronic Diseases: The growing incidence of cardiovascular diseases, cancers, and other chronic illnesses is driving the adoption of ultrasound technology in monitoring and management.

Restraints:

High Equipment Costs: The high initial investment for advanced ultrasound machines can be a significant barrier, particularly for smaller healthcare facilities.

Lack of Skilled Operators: Effective operation of ultrasound equipment requires trained professionals, and shortages in skilled personnel can limit adoption, especially in emerging markets.

Opportunity:

Expansion of Point-of-Care Ultrasound Applications: Portable and handheld ultrasound devices are enabling on-the-spot diagnostics, particularly in emergency and rural healthcare settings, providing significant growth potential.

Growth in Emerging Markets: Emerging economies are witnessing rising healthcare expenditures and increased adoption of diagnostic tools, creating substantial opportunities for ultrasound market growth.

Market by System Type Insights:

In terms of system type, portable ultrasound equipment emerged as the dominant segment in 2023, driven by the growing demand for point-of-care diagnostics and enhanced mobility in healthcare settings. Portable ultrasound systems offer flexibility and ease of use, particularly in emergency and outpatient care, making them increasingly popular in developed and developing regions alike.

Market by End-use Insights:

The hospitals segment was the largest end-user in 2023, holding over 50% of the market share. Hospitals rely on ultrasound equipment for a wide range of diagnostic and therapeutic applications across departments, contributing significantly to market growth. The ambulatory care centers segment is expected to experience notable growth, supported by the rise in outpatient care and point-of-care testing.

Market by Regional Insights:

North America led the global ultrasound testing equipment market in 2023, driven by advanced healthcare infrastructure, high diagnostic imaging usage, and strong R&D in medical technology. Asia-Pacific is anticipated to witness the highest growth rate during the forecast period, fueled by increasing healthcare investments, a large patient population, and rising awareness regarding early diagnosis and treatment.

Competitive Scenario:

Key players in the Global Ultrasound Testing Equipment Market include GE Healthcare, Siemens Healthineers, Philips Healthcare, Canon Medical Systems, Hitachi Medical Corporation, Fujifilm Holdings Corporation, and Mindray Medical International Ltd. These companies are investing in technology development, partnerships, and geographic expansion to strengthen their positions. Recent developments include Philips Healthcare’s launch of AI-enabled ultrasound systems designed to enhance diagnostic precision and GE Healthcare’s introduction of an innovative, battery-operated portable ultrasound device in 2023.

Scope of Work – Global Ultrasound Testing Equipment Market

Key Market Developments

2023: Philips Healthcare launched an AI-enabled ultrasound system to enhance imaging accuracy, particularly for complex cases.

2024: GE Healthcare introduced a portable ultrasound device with advanced imaging features, catering to point-of-care diagnostics.

2025: Siemens Healthineers partnered with a prominent telemedicine provider to integrate ultrasound solutions into virtual consultations, expanding their market reach.

FAQs:

What is the current market size of the Global Ultrasound Testing Equipment Market?

The market was valued at USD 8.5 billion in 2023.

What is the major growth driver of the Global Ultrasound Testing Equipment Market?

The primary growth driver is the increasing demand for non-invasive diagnostic solutions, supported by technological advancements in imaging.

Which is the largest region during the forecast period in the Global Ultrasound Testing Equipment Market?

North America holds the largest market share, attributed to advanced healthcare infrastructure and high adoption of diagnostic imaging technologies.

Which segment accounted for the largest market share in the Global Ultrasound Testing Equipment Market?

The portable ultrasound segment accounted for the largest share, driven by the growing need for flexible and mobile diagnostic solutions.

Who are the key market players in the Global Ultrasound Testing Equipment Market?

Major players include GE Healthcare, Siemens Healthineers, Philips Healthcare, Canon Medical Systems, Hitachi Medical Corporation, Fujifilm Holdings, and Mindray Medical International Ltd.