Ultrasound Transducers Market
Number of pages: 100 | Report Format: PDF | Published date: April 14, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 3.64 billion |
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Market Size Value in 2031 |
US$ 4.88 billion |
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CAGR |
3.3% |
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Base Year For Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Product Type, Application, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global ultrasound transducers market was valued at US$ 3.64 billion in 2022 and is expected to register a revenue CAGR of 3.3% to reach US$ 4.88 billion by 2031.
Ultrasound Transducers Market Fundamentals
The general operation of ultrasonic scanning involves the application of ultrasound waves to the body via a transducer (probe). These waves impact different body areas and bounce back, creating echoes. Finally, the echoed waves provide a real-time picture of the interior organs. Depending on the target organ of imaging and usage, many ultrasonic transducers (probes) are utilized. An ultrasound transducer is a device that generates sound waves that bounce off from biological tissues, creating echoes. The transducer also receives echoes and transmits them to a computer, which utilizes them to generate an image known as a sonogram. Transducers (probes) come in various forms and sizes and are used to create images of various body regions. The transducer can be passed over the body’s surface or put into a bodily orifice such as the rectum or vagina. Different types of transducers are used, like Real-time transducers and Special Purpose transducers.
Transducers for ultrasonic wave applications are used in diagnostic and internal organ testing. They are utilized for heart, eye, and uterine examinations. Along with the diagnosis, ultrasounds aid in illness prognosis and therapy monitoring, establishing themselves as a powerful clinical tool. Medical ultrasound imaging for diagnosis provides benefits over computerized tomography (CT) and magnetic resonance imaging (MRI) in terms of cost, real-time imaging, mobility, and safety. However, ultrasonic imaging technologies often have lesser resolution than CT and MRI systems. Ultrasonic transducers and an imaging system comprise the ultrasonic imaging system. The imaging system directs the ultrasonic transducer to emit and receive an ultrasound and generates an ultrasound picture using data from the transducer.
Transducers of various kinds are employed in numerous domains, such as cardiology, obstetrics, gynecology, urology, orthopedics, and ophthalmology. The form, size, type, and frequency of the transducer necessary to obtain the field of vision acceptable for a certain application are determined by the position, size, and qualities of the objects being viewed. Transducers are widely classed as one-dimensional (1D) array transducers, mechanical wobbling transducers, and two-dimensional (2D) array transducers. When all components are operated simultaneously or in succession, the 1D array transducer, which consists of many tens or hundreds of active elements in a linear mode, creates a 2D planar picture.
Continuous advancements in signal processing and precise machining technologies provide new potential for improving the performance of ultrasonic transducers. In the future, ultrasonic transducers that are smaller and more integrated will be investigated for the generation of high-resolution real-time pictures. 3-D ultrasound imaging is projected to become a standard patient diagnosis and management aspect.
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Ultrasound Transducers Market Dynamics
The increasing frequency of new introductions will drive the ultrasonic transducer market revenue forward. Developing high-powered, portable, single-use ultrasonic transducers is a priority for key stakeholders. Furthermore, firms are releasing ultrasonic devices equipped with improved transducers. These innovative solutions are specifically intended for vascular and muscular-skeletal purposes. Introducing new devices such as the EPIQ Elite ultrasound system, the SiliconWave L38-22 linear array transducer, and the mi-ultra with both linear and convex offerings is expected to drive the market revenue during the forecast period. The increased usage of ultrasound equipment will likely drive market revenue due to its high efficiency and safety. These technologies provide clinicians with precise diagnoses and real-time data for better diagnosis. Because of these benefits, demand for these systems is predicted to skyrocket during the forecast period.
Furthermore, an increased desire for less invasive therapies is a significant driver of market expansion. According to research published in the IEEE Transactions on Medical Imaging in April 2021, ultrasonic imaging would replace X-ray fluoroscopy as the gold standard in minimally invasive spine surgery. Researchers aim to create ultrasonic imaging for navigation, taking advantage of its inherent user-friendliness and lack of radiation. As a result of such uses, ultrasounds in minimally invasive operations replacing hazardous X-ray fluoroscopy would see increased usage, propelling market expansion. Minimally invasive procedures, such as ultrasound-guided treatments, are increasingly being adopted. As a result, various industry players are releasing products, fueling the expansion of the ultrasonic transducer market. For instance, during EuroEcho 2021, Philips announced cardiac ultrasound solutions for a completely integrated echocardiography experience, including new transducer technology, AI-driven automated assessments, and remote access. In addition, Fujifilm SonositePX introduced a new series of transducers in March 2021, including the L19-5, Sonosite’s highest frequency transducer ever, with well-defined near-field resolution and a scan depth of 1 cm.
Ultrasound Transducers Market Ecosystem
The global ultrasound transducers market is analyzed from five perspectives: product type, application, end-user, and region.
Ultrasound Transducers Market by Product Type
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Based on product type, the global ultrasound transducers market is segmented into linear, convex, phased array, endocavitary, CW Doppler, and others.
The convex segment is expected to increase significantly, owing to various advantages connected with this convex transducer device, such as high efficiency and the capacity to focus on deeper organs compared to other transducers. Furthermore, the widespread use of convex transducers in diagnosing transvaginal, abdominal, and transrectal disorders will drive market revenue expansion. Moreover, various market participants are pursuing tactics such as product launches and approvals. For example, FUJIFILM Sonosite, Inc. increased its next-generation POCUS offering in February 2022 by releasing its new, premium Sonosite LX system. This system incorporates the company’s biggest clinical picture and a display that can be expanded, rotated, and angled for better, real-time provider communication.
Ultrasound Transducers Market by Application
Based on application, the global ultrasound transducers market is segmented into cardiovascular, general imaging, musculoskeletal, Ob/GYN, vascular, and others.
Due to the strong demand for radiation-free and non-invasive diagnostic modalities, the general imaging segment accounted for the largest market revenue share. It aids in capturing good pictures of soft tissue and ultrasonography and is becoming increasingly popular for general imaging.
The cardiovascular segment is expected to develop fastest due to increased demand for precise diagnostic choices, the launch of particularly tailored devices, the rising prevalence of heart problems, and growing individual awareness of the need for appropriate treatment.
Ultrasound Transducers Market by End User
Based on end-user, the global ultrasound transducers market is segmented into hospitals, clinics, diagnostic centers, and ambulatory surgery centers.
The hospital segment is expected to lead the market during the forecast period due to the widespread use of ultrasound equipment as the primary imaging option. The availability of portable ultrasound equipment and its use in each department is expected to increase demand for ultrasound transducers. One of the key demand drivers for ultrasonic transducers is the growing number of healthcare institutions in emerging nations. Other factors influencing the hospital segment’s revenue growth include an increased number of qualified hospital workers and increased awareness of new equipment.
Ultrasound Transducers Market by Region
Based on region, the global ultrasound transducers market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America is expected to account for a significant revenue share in the global ultrasound transducer market because of the rising prevalence of chronic diseases, high demand for technologically advanced medical devices, rising research and development expenditure, rising patient preference for early diagnosis, and rising demand for ultrasound systems. According to American Heart Association estimates from 2022, the prevalence of heart failure in the United States was 6 million, or 1.8% of the total population, in 2021. Thus, the country’s high prevalence of heart failure will likely enhance demand for ultrasound transducer devices for better diagnosis and treatment, boosting market revenue share during the forecast period.
The market revenue of the Asia Pacific is expected to develop considerably in the next years due to the fast-growing elderly population, improved healthcare facilities for treating cardiac problems, and rising healthcare spending. Growing medical tourism in Asia Pacific nations will propel the region’s ultrasound transducer industry. Medical tourism is flourishing in emerging nations such as India, Thailand, Brazil, Mexico, and the Philippines, increasing demand for world-class healthcare services. This is projected to increase the quantity of ultrasound equipment imported into these nations. Major market participants plan to expand their presence in these regions and provide competitive prices.
Competitive Landscape of the Ultrasound Transducers Market
The prominent market players in the global ultrasound transducers market include:
These companies are working on different growth methods, such as new product releases, product improvements, mergers, and acquisitions, to introduce more efficient medical diagnostic devices and enhance their market position. Philips has paid an unknown sum to acquire Shanghai Apex Electronics Technology (Apex), a Chinese maker of ultrasonic transducers. The acquisition seeks to expand Philips’ line of manufacturing transducers, which are critical in deciding the picture quality of these systems.
Strategic Development in the Ultrasound Transducers Market
The prime driving factors are the increasing demand for minimally invasive therapies and the rising prevalence of cardiovascular, respiratory, and abdominal disorders.
The expected size of the ultrasound transducers market in 2031 is 4.88 billion.
The expected revenue CAGR of the ultrasound transducers market during the forecast period will be 3.3%.
Some prominent global ultrasound transducer market players operating in the global ultrasound transducers market include Koninklijke Philips N.V., Siemens Healthineers, and FUJIFILM SonoSite.
The convex product type segment leads the global ultrasound transducers market with the largest revenue share.
*Insights on financial performance are subject to the availability of information in the public domain