Europe Ultrasound Devices Market Size, Share & Trends Analysis Report By Product (Diagnostic, Therapeutic), By Portability (Handheld, Compact, Cart/Trolley), By Application, By End-use, By Country, And Segment Forecasts, 2024 - 2030

Europe Ultrasound Devices Market Trends

The Europe ultrasound devices market size was valued at USD 2.6 billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.58% from 2024 to 2030. Rising demand for healthcare devices, growing prevalence of chronic disorders and pain-associated disorders in the region are anticipated to propel regional market growth. Increasing demand for advanced technologies and rising health awareness are some other key factors expected to boost market growth.

Most of the European countries such as France, UK, and Germany have a high per capita income and well-defined healthcare policies that facilitate improved diagnostic systems. The increasing prevalence of diseases, presence of various key players, introduction of technologically advanced products, and several strategic initiatives by market players in Europe are among the factors contributing to the ultrasound devices market growth.

The rapidly aging population in these countries is propelling the demand for advanced healthcare facilities such as ultrasound. Moreover, initiatives such as Statutory Health Insurance are strengthening the country’s healthcare infrastructure, thereby aiding people in availing diagnostic tests using diagnostic testing methods & imaging systems for early detection of diseases. These factors are boosting the market growth in Germany

The increasing adoption of ultrasound in primary care can be attributed to its affordability, portability, safety, and ease of use. Furthermore, organizations such as the Spanish Federation of Societies for Ultrasound in Medicine and Biology and the European Society of Radiology are providing comprehensive training programs & educational tools to doctors for the use of ultrasound devices, which has further increased their adoption. According to research published in the BMJ, the accessibility to in-house ultrasound examination in primary care is better in Spain than in higher healthcare-spending countries, such as Italy and France.

Market Concentration & Characteristics

The increasing mergers and acquisitions, partnerships, and collaborations between hospitals and market players are likely to boost the demand for new installations in the coming years. The market is also witnessing a significant amount of innovation. There are constant advancements in technologies owing to large investments in healthcare research.

Europe is one of the most developed regions, with the latest technologies & infrastructure, resulting in significantly advanced healthcare facilities & patient care. Increasing public and private investments in R&D are contributing to its market growth. Rising demand for minimally invasive treatments & advancements in imaging devices, such as 3D & 4D image detailing, accelerated processing speed, automated workflow, and Point-of-Care (PoC) solutions, are expected to boost the adoption of such technologies during the forecast period.

Key players are engaging widely in these strategies to enhance their market positions. For instance, in February 2022, Fujifilm VisualSonics, a global provider of Ultra High Frequency (UHF) ultrasound imaging systems, partnered with PIUR Imaging, a European provider of tomographic ultrasound imaging, to bring UHF, 3D ultrasound imaging technology, to clinicians and researchers in Europe. Such initiatives are projected to boost the market growth significantly.

To gain approval in the EU, medical device makers need to fulfill the general safety and applicable performance requirements. These requirements depend on different criteria, including the planned use of the medical device and its risk class. Medical devices can be marketed only if the CE marking has previously been affixed under the responsibility of the manufacturer and the manufacturer has drawn up the EU declaration of conformity. The EU approval is accepted by countries such as France, Spain, Germany, and Italy in the EU, except for the UK post-Brexit. However, Germany has additional requirements apart from CE Mark. Medical devices in Germany are regulated by The Federal Institute for Drugs and Medical Devices which has an electronic portal called DIMDI. Manufacturers must fulfill the following criteria to get approved.

Several market players are launching various products to strengthen their product portfolios. It includes the company’s efforts to create a strong position in the market to operate efficiently with the launch of different products and facilities at several locations to expand its presence globally and capture a larger market share. Hence, they invest more in developing and launching products for areas that are deprived of such facilities to gain more popularity.

The market is witnessing moderate regional expansion with companies adopting strategies like product launches, facility inaugurations, M&A activities, partnerships, and collaborations. Several prominent market players are expanding their businesses in the rural region to provide people with healthcare facility access. This is expected to lead to various strategic expansions in the region.

Product Insights

The diagnostic ultrasound devices segment held the largest revenue share of 84.0% in 2023. This is attributed to the wide range of applications in obstetrics, cardiology, and oncology. In addition, the increasing prevalence of various lifestyle-related disorders and technological advancements are expected to boost the demand for diagnostic ultrasound devices. Moreover, the adoption of diagnostic imaging is rapidly increasing owing to the government’s focus on the early diagnosis of diseases to achieve higher treatment success rates. Frequent product launches that offer improved imaging, workflow, & ergonomic capabilities are anticipated to drive this segment.

The therapeutic ultrasound devices segment is expected to witness the fastest CAGR over the forecast period. The segment is further divided into High-intensity Focused Ultrasound (HIFU), and Extracorporeal Shockwave Lithotripsy (ESWL). The effective use of ultrasound for therapeutic efficacy comes with the potential of unintended and undesirable bio-effects that can cause serious, even life-threatening, patient damage. HIFU has been demonstrated to be safe & effective for lifting & refining wrinkles in several minor clinical trials which is expected to boost market growth.

Portability Insights

The cart/trolley segment held the largest revenue share of 68.0% in 2023. These devices are widely used for 3D & 4D procedures. Major companies are investing in the research & development of new and innovative ultrasound devices. The segment is further bifurcated into Point-of-Care Cart/Trolley-based Ultrasound, and Higher-end Cart/Trolley-based Ultrasound. Growth in therapeutic ultrasound technology is expected to spur the demand for cart/trolley-based designs during the forecast period.

The handheld segment is expected to witness the fastest CAGR over the forecast period. Portability, ease of use, & compact nature of handheld devices have increased their acceptance in smaller clinics. Handheld ultrasound devices are anticipated to experience a surge in demand, especially in point-of-care, home care, and emergency care settings, attracting new market players.

Application Insights

The radiology segment held the largest revenue share of 22.0% in 2023. Growing adoption of ultrasound devices and an increasing number of product launches for general imaging is expected to boost segment growth over the forecast period. Various organizations related to radiology are being established to increase awareness & adoption which is also projected to contribute to the market growth.

The obstetrics/gynaecology segment is expected to witness the fastest CAGR over the forecast period. Ultrasound systems are used in gynecology to delineate peritoneal carcinomatosis, ascites, & abdominal cysts. Therefore, increasing birth rate, growing awareness about monitoring fetal health regularly, and the presence of reimbursement policies are anticipated to drive this segment during the forecast period. Moreover, the rise in research studies on ultrasound is further expected to boost market growth.

End-use Insights

The hospitals segment held the largest revenue share of 41.0% in 2023. On average, a hospital may require at least three ultrasound scanners, one dedicated to general radiology, one for obstetrics & gynecology, and one for cardiac scanning. Therefore, the higher utilization rate of ultrasound, coupled with a large patient base, has contributed to this segment’s largest market share. Additionally, ultrasound is becoming one of the key diagnostic tools during emergency visits & bedside monitoring.

The imaging centres segment is expected to witness the fastest CAGR over forecast period. with the introduction of teleradiology services in diagnostic centers, where ultrasound images can be transferred within hours to physician computer screens from diagnostic clinics. Moreover, the improving quality of care at diagnostic centers can cater to more patient movement, boosting the market.

Country Insights

Europe ultrasound devices market is accelerating owing to the occurrence of several developments. The presence of developed and rapidly developing economies such as the UK, Germany, France, and Norway is primarily driving the overall market growth in the region. The availability of advanced imaging procedures at a lesser price is further impacting the market positively. Furthermore, clinical education through conferences, symposiums, and webinars is becoming crucial in improving the adoption rate of ultrasound devices. For instance, the European School of Radiology collaborated with Bracco Imaging to conduct online seminars on contrast ultrasound imaging for radiologists in the country, in April 2021. Such initiatives are expected to boost the growth of the market in the region, as well as globally.

UK Ultrasound Devices Market Trends

The ultrasound devices market in the UK is one of the major markets in Europe. Key players are launching several new products and initiating strategic alliances. General Practice (GP) referrals for MRI examinations in the UK are expected to boost the demand for MRI systems. Furthermore, the presence of efficient reimbursement policies and the growing burden of chronic illness are contributing to the increasing number of scanning procedures. Due to the increasing geriatric population, growing prevalence of lifestyle diseases, and the presence of key players in the market, it is expected to witness considerable growth. These factors are expected to boost the adoption of ultrasound devices in the UK.

Germany Ultrasound Devices Market Trends

The Germany ultrasound devices market is anticipated to grow at the fastest rate over the forecast period due to a rapidly aging population, growing prevalence of chronic diseases, and the presence of a sophisticated healthcare system, highly qualified workforce, and high healthcare spending. Owning to its lucrative environment, it is also an excellent place for technological startups. Around 80% of the medical device manufacturers, including companies of ultrasound devices in the country are SMEs. The presence of major market players, such as Siemens Healthcare GmbH is anticipated to create lucrative opportunities in Germany.

France Ultrasound Devices Market Trends

The ultrasound devices market in France is expected to boost the adoption of imaging systems owing to the growing burden of cancer. The French government is undertaking initiatives to improve the healthcare structure in France. The French Commonwealth Fund helps hospitals in France add staff & improve their services. This can create a greater demand for ultrasound devices in France. In addition, with the presence of a national breast cancer screening program, the demand for ultrasound is expected to significantly increase in the coming years. Rising incidence of cardiovascular and gastrointestinal diseases is also expected to increase the demand for ultrasound devices in the country. With the increasing geriatric population, investments in ultrasound devices are also rising in the country.

Key Europe Ultrasound Devices Company Insights

Esaote SpA, Fujifilm, Hitachi, Philips, GE Healthcare, and Siemens are some of the prominent players in the Europe ultrasound devices market. These key players are identified based on their product portfolios, revenues, collaborations, and other strategic initiatives adopted by them.

The increasing use of ultrasound in routine primary care is expected to boost the region’s ultrasound device market. Key players are investing and expanding their businesses in the region, boosting regional market growth. This is attributed to several factors, such as increased adoption of ultrasonography for diagnostic & therapeutic applications, rising technological advancements, and increased product launches by the key players operating in the market.

Recent Developments

• In March 2023, Siemens Healthcare GmbH announced the evolution of the Acuson Sequoia Flagship series of Ultrasound devices at the European Congress of Radiology (ECR) in Vienna

• In May 2022, Clarius Mobile Health introduced a third-generation product line in the European Union and the UK. These are high-performance wireless ultrasound scanners that can connect to Apple and Android devices and come in pocket-size

• In April 2022, GE Healthcare partnered with Unilibs to provide novel imaging equipment and digital technology in Portugal. The partnership covers MRIs & CT scanning technology, ultrasound devices, mammography, and X-ray machines, as well as innovative imaging fleet services

Europe Ultrasound Devices Market Report Scope

Europe Ultrasound Devices Market Report Segmentation

This report forecasts revenue growth at regional level and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the Europe ultrasound devices market on the basis of product, portability, application, end-use and country:

• Product Outlook (Revenue, USD Million)

  • Diagnostic Ultrasound Devices

    • 2D

    • 3D/4D

    • Doppler

  • Therapeutic Ultrasound Devices

    • High-intensity Focused Ultrasound

    • Extracorporeal Shockwave Lithotripsy

• Portability Outlook (Revenue, USD Million)

  • Handheld

  • Compact

  • Cart/Trolley

    • Point-of-Care Cart/Trolley based Ultrasound

    • Higher-end Cart/Trolley based Ultrasound

• Application Outlook (Revenue, USD Million)

  • Cardiology

  • Obstetrics/Gynaecology

  • Radiology

  • Orthopaedic

  • Anaesthesia

  • Emergency Medicine

  • Primary Care

  • Critical Care

• End-use Outlook (Revenue, USD Million)

  • Hospitals

  • Imaging Centres

  • Research Centres

• Country Outlook (Revenue, USD Million)

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Norway

    • Denmark

    • Sweden