The European ultrasound devices market is predicted to grow from USD 2.86 billion by 2028 from USD 2.3 billion in 2023, growing at a CAGR of 4.4% from 2023 to 2028.
Europe Ultrasound Devices Market is focused on promoting and supporting industrial research. Several tax incentives have been provided to establish the industry's research and development department, and imaging equipment such as ultrasound has been significantly improved, expected to drive market growth. The long-term goal of these programs is to develop innovative, disruptive, safe, non-invasive ultrasound technology to enhance interventional therapies for treating disorders, injuries, abnormalities, and other conditions. Also, the increasing demand for minimally invasive equipment, the rising number of older adults, the shrinking size of ultrasound equipment, and the growing incidence of chronic diseases (such as cancer) are other factors acting as the European growth drivers of the European ultrasound devices market.
Ultrasound Devices are an essential method for diagnosing ailments like CVD and cancer. The increasing prevalence of chronic diseases in the European Union is expected to continue to drive demand and create an opportunity for these devices in the market. In recent years, technological advances in computing applications, electronic devices, and transducers have revolutionized ultrasound equipment and its popularity. These advances have led to the miniaturization of ultrasound equipment. In addition, manufacturers of the EU medical ultrasound device market adopt wireless technologies such as near-field communication and Bluetooth to improve device performance in critical and emergency medical applications.
Also, healthcare providers and patients increasingly recognize the benefits of portable ultrasound devices in a live care environment. Handheld instant care devices are smaller and more accessible to charge than traditional cart devices. As a result, these devices' benefits have increased, their adoption in the European Union has increased, and the region's medical ultrasound equipment market has grown even faster.
However, the lack of skilled workers to handle the equipment limits the market growth in this area. The key challenges for the European ultrasound devices market are the growing demand for refurbished medical imaging equipment and the high installation cost.
This research report on the European Ultrasound Devices Market has been segmented and sub-segmented into the following categories:
By Device Display:
Regionally, The European ultrasound devices market was the second leading region in the global market in 2019. Increasing market penetration of therapeutic ultrasound and the growing emphasis on minimally invasive procedures (including diagnostic and therapeutic ultrasound) is attracting companies in this region. As a result, they can contribute a maximum share of the market.
The German ultrasound devices market dominated the European market in 2020 due to the increased number of ultrasound diagnostic imaging procedures. Ultrasound increased by 5 percent annually. Moreover, technological advancement key players are making the devices more compact and portable and incorporating innovative technologies, like 3D and 4D imaging. In 2018, the Samsung RS85 ultrasound system got FDA clearance. It was designed for various multi-step actions coupled into a single step to minimize keystrokes and repetitive user communication. Adding to increasing incidences of chronic diseases (like cancer and cardiovascular) contributes to the German ultrasound devices market's growth.
The UK ultrasound device market is estimated to display a significant growth rate during the forecast period. Rising demand for minimally invasive devices, an increase in the geriatric population, reduction in the size of ultrasound devices are majorly pushing the market growth in the United Kingdom.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the European ultrasound devices market profiled in this report are General Electric Company (U.S.), Koninklijke Philips N.V., Toshiba Corporation, Siemens AG, Hitachi Ltd., Samsung Electronics Co., Ltd., FUJIFILM Holdings Corporation, Esaote S.p.A., Mindray Medical International Ltd and Analogic Corporation (U.S.).
The European ultrasound devices market is expected to grow at a CAGR of 4.4% from 2022 to 2027.
Factors such as the growing prevalence of chronic diseases, increasing demand for minimally invasive procedures, advancements in ultrasound technology, and rising healthcare expenditures in the European region are primarily driving the European ultrasound devices market.
Germany, France, the United Kingdom, Italy, and Spain are playing a notable role in the European market.
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