The ultrasound transducer market is expected to reach US$ 5,020.76 million in 2027 from US$ 3,816.25 million in 2019; it is estimated to grow at a CAGR of 3.6% from 2020-2027.
The ultrasound transducer market is expected to reach US$ 5,020.76 million in 2027 from US$ 3,816.25 million in 2019; it is estimated to grow at a CAGR of 3.6% from 2020-2027.
Ultrasound transducer is the handheld part of the ultrasound system, and it produces and detects the ultrasound waves. The transducer converts electrical energy into sound waves, which bounce off the body tissues and produce echoes. These echoes are received by the transducer and are sent to the computer that creates an image, i.e., sonogram. Transducers are available in different sizes and shapes, and they exhibit diverse features. The global ultrasound transducer market is driven by factors such as the growing prevalence of chronic diseases worldwide and increasing diagnostic applications of ultrasound. However, the shortage of skilled sonographers hampers the market growth. Additionally, technological developments in ultrasound are creating growth opportunities for the market players.
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Key Findings from The Ultrasound Transducer Market
In 2019, the convex ultrasound transducers accounted for the largest share of the market. Convex transducers offer deep view of the target tissue and also provide clear images with improved reliability. These are widely used for the diagnosis of abdominal, transvaginal, and transrectal conditions. On the other hand, the linear transducers segment is expected to register the highest CAGR during the forecast period. Linear transducers are used in a wide range of applications, including vascular examination, venipuncture, blood vessel visualization, laparoscopy, and others.
Based on application, the ultrasound transducer market is segmented into cardiovascular, general imaging, musculoskeletal, OB and GYN, and others. The general imaging segment held the largest share of the market in 2019, whereas the cardiovascular segment is estimated to register the highest CAGR during the forecast period.
On the basis of end user, the ultrasound transducer market has been segmented into hospitals, clinics, diagnostic centers, and ambulatory surgical centers. The hospitals segment held the largest share of the market in 2019, while the clinics segment is estimated to register the highest CAGR in the market during the forecast period.
Product launches and approvals are the commonly adopted strategies by companies to expand their global footprints and product portfolios to meet the growing consumer demand. The ultrasound transducer market players adopt the collaborations strategy to enlarge customer base worldwide, which also permits them to maintain their brand name globally.
General Electric Company, Koninklijke Philips N.V., Siemens Healthineers AG, Samsung, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Fujifilm Corporation, Hitachi, Ltd., ESAOTE SPA, SIUI, and Shenzhen Ruqi Technology Co., Ltd., are among the leading companies operating in the ultrasound transducer market.
Increasing diagnostic applications of ultrasound and rising prevalence of chronic diseases are the key factors driving the growth of the ultrasound transducer market. Moreover, technological developments by the market players are likely to have positive impact on the market in the coming years. However, the scarce availability of skilled professionals restricts the market growth.
Increasing Diagnostic Applications of Ultrasound
Ultrasound is widely used in anesthesiology, angiology (vascular), cardiology, gastroenterology/colorectal surgery, gynecology/obstetrics, hemodynamics, otolaryngology, and emergency medicine, among others. It is used to perform both diagnosis and therapeutic procedures.
In anesthesiology, ultrasound is used by anesthesiologists to ensure needles are placed accurately near the nerves. In angiology, arterial disorders and venous diseases are diagnosed using ultrasound. It is used in cardiology to evaluate the heart valve functions. Point-of-care emergency ultrasound has a wide range of applications in emergency medicine. For instance, focused assessment with sonography for trauma (FAST) procedure is carried out to assess significant hemoperitoneum or pericardial tamponade after trauma. Abdominal ultrasound is used in Gastrointestinal Surgery and colorectal surgery. Gynecologic ultrasound assesses female organs such as uterus, ovaries, and fallopian tubes. Obstetric sonography is used to examine the fetal development in the uterus. Ocular ultrasound is widely used in ophthalmology. Biopsies are also carried out using ultrasound to detect lesion or mass. Additionally, in urology, ultrasound is routinely used to evaluate genitourinary system for underlying medical conditions.
Global Ultrasound Transducer Market- By Product
- Linear
- Convex
- Phased Array
- Endocavitary
- CW Doppler
- TEE Probes
- Type
- 2D TEE Probes
- 3D TEE Probes
- 4D TEE Probes
- Age group
- Pediatric
- Adult
- Type
- Others
Global Ultrasound Transducer Market- By Application
- Cardiovascular
- General Imaging
- Musculoskeletal
- OB and GYN
- Vascular
- Other
Global Ultrasound Transducer Market- By End User
- Hospital
- Clinics
- Diagnostic Centers
- Ambulatory Surgery Centers (ASCs)
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