The size of the Ultrasound devices market in North America was estimated at USD 1.81 Billion in 2022. It is projected to reach USD 2.31 Billion by 2027, at a CAGR of 4.9% from 2022 to 2027. Well-established healthcare infrastructure and escalating adoption of home healthcare and remote patient monitoring are the prime factors pushing the market's growth in North America. In addition, the high adoption rate of advanced technology in the region is augmenting the demand for miniaturized user-friendly devices.
Doctors and physicians use ultrasound devices to assess internal parts and examine underlying diseases. The body structures are reflected through the output of sound waves, which are with high frequency. The ultrasound device can visualize internal organs; liver, kidneys, blood vessels, human fetus, heart.
The technological advancements in this field are expected to accelerate the growth rate of the North American ultrasound devices market. 3D and 4D imaging are a bloom for the ultrasound imaging market. It is more commonly resourceful in pregnant women cases in terms of checking the fetus's condition. The population growth and increase in resources rise in chronic diseases, and demand for minimally invasive procedures is growing for the ultrasound devices market. Diagnostic ultrasound devices are increasing in number in the field of obstetrics and gynecology. It is because pregnant women need ultrasound imaging very often to assess and check the fetus’s condition.
Raising awareness in people about early detection of diseases, frequent health check-ups, and being on track with health are growth-driven factors. Regular body check-ups are likely to increase market growth following a healthy lifestyle and understanding of health and fitness. The 3D and 4D imaging techniques are part of technological advancements, high in this current scenario. North America spends half of its economy on healthcare and infrastructure. The rise in public funding, nongovernmental organizations fund towards the growth of healthcare, and structure help this market.
The market restraints for the ultrasound devices market, which held back market growth, are as below. The high costs associated with the health check-ups and scanning procedures and inadequate reimbursement plans are back points for this market. The devices and instruments needed for setting up this equipment are also highly expensive. The lack of funds on time will hamper the market growth. The installation and setup costs are too high for these devices. Also, many skilled workers and human resources must maintain the surroundings and environment properly for the regular maintenance of devices and equipment. Else the goals are hard to achieve.
Impact of COVID-19 on the North America Ultrasound Devices market:
The pandemic has contrarily affected the ultrasound devices market, and this pattern is expected to proceed until December 2020. The changes in guidelines and rules are hampering the development of this market. The closing down of assembling offices because of lockdowns, interruptions in flexible chains, and enrolment challenges for clinical preliminaries have also affected the development of the ultrasound devices market. The ultrasound devices from manufacturers' end-to-end users are not appropriately processed during this pandemic. In addition, the travel bans and medical tourism ban issues are significant concerns in this pandemic situation. As these travel bans continue to expand longer, the awareness and introduction of new technologies and developments are not achieved as expected.
This research report on the North America Ultrasound Devices Market has been segmented and sub-segmented into the following categories:
By Device Display:
Regionally, North America is observed as the fastest growing market in terms of ultrasound devices. The growth factors include increasing healthcare providers, funding for research, and development from government and non-government organizations. The United States is one of the technologically developed regions and is observed to increase its size for the ultrasound devices market. Canada carries out most of the research activities and competes with other areas of technology and advancements.
Companies playing a dominant role in the North America 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.).
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Technology
5.1.1 Diagnostic ultrasound
184.108.40.206 2D ultrasound
220.127.116.11 3D & 4D ultrasound
18.104.22.168 Doppler ultrasound
5.1.2 Therapeutic ultrasound
22.214.171.124 High-intensity focused ultrasound
126.96.36.199 Extracorporeal Shockwave Lithotripsy
5.2 By Device display
5.2.1 Color Ultrasound Devices
5.2.2 Black and White Ultrasound Devices
5.3 By Portability
5.3.1 Trolley/Cart-based Ultrasound Devices
5.3.2 Compact/Handheld Ultrasound Devices
5.4 By Application
5.4.1 Radiology/General Imaging
5.4.6 Other Applications
6. Geographical Analysis
6.2 United States
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 General Electric Company
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Koninklijke Philips N.V.
8.3 Toshiba Corporation
8.4 Siemens AG
8.5 Hitachi Ltd.
8.6 Samsung Electronics Co., Ltd.
8.7 FUJIFILM Holdings Corporation
8.8 Esaote S.p.A.
8.9 Mindray Medical International Ltd.
8.10 Analogic Corporation
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
a) List of Tables
b) List of Figures
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