The global ultrasound transducer market size was valued at USD 3.2 billion in 2018 and is expected to expand at a CAGR of 3.6% by the end of 2026. Increasing applications of ultrasound devices in diagnostic imaging of various conditions and introduction of advanced transducers are some of major factors driving the growth.
Ultrasound transducers are used in diagnostic testing, surgical procedures, and in noninvasive procedures including lithotripsy. Major diagnostic uses of these devices include the examination of cardiac, maternity, abdominal, gynecological, cerebrovascular and urological, breast examination and small pieces of tissues and in pediatric and operational review.
Rising frequency of product launches is expected to propel the ultrasound transducer market. Key players are focusing on development of high-powered, handheld, single-use ultrasound transducers. Moreover, companies are launching ultrasound devices incorporated with advanced transducer. These advanced products are specially designed for various applications including vascular and muscular skeletal. Introduction of novel devices such as EPIQ Elite ultrasound system, SiliconWave L38-22 linear array transducer, and mi-ultra with both linear & convex offering is anticipated to boost the market during the forecast period.
Increasing use of ultrasound machines owing to its high efficiency and safety is expected to drive the market. These devices offer accurate diagnosis and real time data to the physicians for better diagnosis. Owing to these advantages, the demand for these systems is expected to be on steep rise during the forecast period.
Convex segment leads the ultrasound transducers market owing to the high efficiency of the product. It offers wider footprint as compared to linear-array configuration and focuses view on the deep part of the targeted region. It also displays clearer picture with highly improved reliability. These factors are anticipated to fuel the demand for convex scanning transducer.
Convex transducers are also known as curved transducer since the arrangement of piezoelectric crystal is curvy (rounded). The beam shape is ideal for in-depth investigation. They are widely used for diagnosis of abdominal, transvaginal and transrectal conditions.
Linear segment is expected to grow at a significant pace during the forecast period. This transducer is ideal for imaging external structures & vessels and hence are also known as vascular probes. The shape of the beam is rectangular along with high-quality near-field resolution. The footprint, frequency, and the application depends on 2D or 3D imaging. 2D imaging linear transducer is widely used for vascular examinations, venipuncture, blood vessel visualization, and intraoperative procedures. 3D imaging linear transducers are used in imaging of thyroid, breast, and arteria carotis.
General imaging segment accounted for the largest market share in 2018 owing to high demand for radiation free and non-invasive diagnostic modalities. Usage of ultrasound is becoming prominent for general imaging as it helps in capturing effective images of soft tissue.
Cardiovascular segment is expected to showcase the fastest growth owing to rise in demand for accurate diagnostic options, introduction of specially designed products, rising prevalence of heart conditions, and growing awareness among individuals regarding timely treatment.
Others (urology, transrectal) segment is expected to capture significant market share in the forecast period owing to the high demand for ultrasound devices in diagnostic as well as surgical procedures. Recently, a study found that ultrasound can be used to assess risks of deep vein thrombosis (DVT) after ablation procedures. Applications of ultrasound are expected to expand significantly during the forecast period
Hospital segment is anticipated to lead the market in the next seven years owing to high adoption of ultrasound systems as the primary imaging option. Availability of portable ultrasound systems and usage of this modality in each department is anticipated to boost the demand for ultrasound transducers.
Rising number of healthcare facilities in the emerging economies is one of the major demand drivers of the ultrasound transducers. Increasing number of skilled professionals in hospitals and growing awareness regarding innovative devices are few other driving factors affecting the segment growth.
Clinics segment is expected to grow considerably during the forecast period owing to increasing number of professionals and growing number of clinics in both developing and developed economies. Availability of affordable ultrasound systems which can be used in small clinics settings is expected to play an important role in segment growth.
North America is anticipated to lead the market owing to high adoption of ultrasound modality in general diagnostics and rising prevalence of lifestyle associated chronic diseases. In addition, high demand for technologically advanced medical devices is also expected to propel the market growth in the region.
Asia Pacific is anticipated to grow significantly in the forthcoming years owing to rapidly growing geriatric population, improving healthcare facilities for treating heart disorders, and growing healthcare expenditure. Blooming medical tourism in Asia Pacific economies is also expected to fuel the ultrasound transducer market in the region.
Prospering medical tourism in developing countries such as India, Thailand, Brazil, Mexico, and Philippines is boosting the demand for world class healthcare services. This is expected to fuel the number of imported ultrasound devices in these countries. Major market players are strategizing to increase their presence in these regions and offer products at competitive prices.
The major players profiled in the market comprise GE Healthcare, Koninklijke Philips N.V., Siemens, FUJIFILM SonoSite, Samsung Medison, Hitachi, Esaote, Mindray, SIUI, Shenzhen Ruqi Technology, SonoScape Medical, and Shenzhen Jiarui Electronic Technology.
These players are focusing on adopting various growth strategies such as new product launches, innovations in the existing products, and mergers and acquisitions for introduction of more efficient medical diagnostic devices and strengthening their market presence. Lately, Philips acquired Shanghai Apex Electronics Technology (Apex), a China-based manufacturer of ultrasound transducers for an undisclosed fee. The acquisition aims at strengthening Philip’s portfolio of manufacturing transducers that are essential for determining the image quality of these systems.
Base year for estimation
Actual estimates/Historical data
2015 - 2017
2019 - 2026
Revenue in USD Million and CAGR from 2018 to 2026
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
U.S., Canada, U.K., Germany, France, Italy, Spain, China, India, Japan, Thailand, South Korea Mexico, Brazil, Colombia, Argentina, South Africa, Saudi Arabia, UAE
Revenue forecast, company share, competitive landscape, growth factors and trends
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This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, Grand View Research has segmented the global ultrasound transducer market report on the basis of product type, application, end use, and region:
Product Type Outlook (Revenue, USD Million, 2015 - 2026)
Application Outlook (Revenue, USD Million, 2015 - 2026)
End Use Outlook (Revenue, USD Million, 2015 - 2026)
Ambulatory Surgery Centers (ASCs)
Regional Outlook (Volume, ‘000 Units; Revenue, USD Million, 2015 - 2026)
Middle East & Africa
b. The global ultrasound transducer market size was estimated at USD 3.30 billion in 2019 and is expected to reach USD 3.40 billion in 2020.
b. The global ultrasound transducer market is expected to grow at a compound annual growth rate of 3.6% from 2019 to 2026 to reach USD 4.22 billion by 2026.
b. The convex segment dominated the ultrasound transducer market with a share of 24.0% in 2019. This is attributable to high product efficiency.
b. Some key players operating in the ultrasound transducer market include GE Healthcare, Koninklijke Philips N.V., Siemens, FUJIFILM SonoSite, Samsung Medison, Hitachi, Esaote, Mindray, SIUI, Shenzhen Ruqi Technology, SonoScape Medical, and Shenzhen Jiarui Electronic Technology.
b. Key factors that are driving the market growth include increasing applications of ultrasound devices in diagnostic imaging of various conditions and introduction of advanced transducers.
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The risk of contamination and nosocomial spreading associated with the usage of the standard diagnostic tools such as stethoscope and radiology imaging systems in the management of COVID -19, has contributed to the rising demand of pocket-sized ultrasound systems changing the dynamics of these market space. We are working to account for this surge in our estimates. The updated report will account for Covid-19 as a key market contributor.