Ultrasound Market

By Product;

Diagnostic Ultrasound Devices – [2D, 3D & 4D and Doppler], Therapeutic Ultrasound Devices – [High-Intensity Focused Ultrasound and Extracorporeal Shockwave Lithotripsy]

By Portability;

Cart & Trolley, Point-of-Care Cart & Trolley-Based Ultrasound, Higher-End Cart & Trolley-Based Ultrasound, Handheld and Compact

By Application;

Cardiology, Obstetrics & Gynaecology, Radiology, Orthopaedic, Anesthesia, Emergency Medicine, Primary Care and Critical Care

By End Use;

Hospitals, Imaging Centres and Research Centres

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031)
Report ID: Rn127118727 Published Date: September, 2025 Updated Date: October, 2025

Ultrasound Market Overview

Ultrasound Market (USD Million)

Ultrasound Market was valued at USD 29,046.66 million in the year 2024. The size of this market is expected to increase to USD 437,034.16 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 47.3%.


Ultrasound Market

*Market size in USD million

CAGR 47.3 %


Study Period2025 - 2031
Base Year2024
CAGR (%)47.3 %
Market Size (2024)USD 29,046.66 Million
Market Size (2031)USD 437,034.16 Million
Market ConcentrationLow
Report Pages334
29,046.66
2024
437,034.16
2031

Major Players

  • General Electric Company
  • Koninklijke Philips N.V.
  • Siemens Healthineers AG
  • Canon Medical Systems Corporation
  • Hitachi, Ltd.
  • Samsung Medison Co., Ltd.

Market Concentration

Consolidated - Market dominated by 1 - 5 major players

Ultrasound Market

Fragmented - Highly competitive market without dominant players


The Ultrasound Market is growing steadily as healthcare facilities increasingly adopt advanced imaging techniques. Ultrasound stands out for being non-invasive, radiation-free, and capable of delivering real-time results. Today, approximately 65% of diagnostic imaging procedures include ultrasound, emphasizing its vital importance in clinical care.

Rising Demand for Non-Invasive Imaging
The growing preference for non-invasive diagnostic solutions is fueling ultrasound adoption across diverse medical applications. Compared with other imaging tools, ultrasound provides quicker and safer assessments, making it the first choice for many practitioners. Research suggests that more than 55% of physicians recommend ultrasound as the primary diagnostic option for multiple conditions.

Technological Innovations Driving Adoption
Continuous technological progress is transforming the ultrasound market. Innovations such as 3D and 4D ultrasound imaging, portable systems, and AI-driven platforms are enhancing accuracy and patient outcomes. Close to 40% of recent medical imaging innovations are focused on ultrasound technology, showcasing its growing significance in healthcare advancement.

Clinical and Economic Benefits
Adoption of ultrasound devices delivers measurable clinical and economic advantages. Studies indicate a 30% rise in diagnostic accuracy along with a 25% reduction in overall patient management costs. Faster examinations, improved accessibility, and cost-efficiency make ultrasound an essential diagnostic tool in both large hospitals and smaller medical facilities.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Product
    2. Market Snapshot, By Portability
    3. Market Snapshot, By Application
    4. Market Snapshot, By End Use
    5. Market Snapshot, By Region
  4. Ultrasound Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Technological Advancements
        2. Increasing Awareness
        3. Rising Chronic Diseases
        4. Growing Geriatric Population
        5. Emerging Applications
      2. Restraints
        1. High Cost
        2. Lack of Skilled Operators
        3. Regulatory Stringency
        4. Limitations in Imaging
        5. Competition from MRI/CT
      3. Opportunities
        1. Point-of-Care Ultrasound
        2. 3D/4D Ultrasound
        3. Emerging Markets Expansion
        4. AI Integration
        5. Miniaturization Trends
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bragaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Ultrasound Market, By Product, 2021 - 2031 (USD Million)
      1. Diagnostic Ultrasound Devices
        1. 2D
        2. 3D & 4D
        3. Doppler
      2. Therapeutic Ultrasound Devices
        1. High-Intensity Focused Ultrasound
        2. Extracorporeal Shockwave Lithotripsy
    2. Ultrasound Market, By Portability, 2021 - 2031 (USD Million)
      1. Cart & Trolley
      2. Point-of-Care Cart & Trolley-Based Ultrasound
      3. Higher-End Cart & Trolley-Based Ultrasound
      4. Handheld
      5. Compact
    3. Ultrasound Market, By Application, 2021 - 2031 (USD Million)
      1. Cardiology
      2. Obstetrics & Gynaecology
      3. Radiology
      4. Orthopaedic
      5. Anesthesia
      6. Emergency Medicine
      7. Primary Care
      8. Critical Care
    4. Ultrasound Market, By End Use, 2021 - 2031 (USD Million)
      1. Hospitals
      2. Imaging Centres
      3. Research Centres
    5. Ultrasound Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. GE HealthCare
      2. Siemens Healthineers
      3. Philips
      4. Canon Medical & Canon Inc.
      5. Hitachi (Healthcare)
      6. Samsung Medison
      7. Fujifilm
      8. Mindray
      9. Esaote
      10. Analogic
      11. Hologic
      12. Carestream
      13. Toshiba Medical
      14. Konica Minolta
      15. Butterfly Network
  7. Analyst Views
  8. Future Outlook of the Market