The Ultrasound Transducer Market is expected to register a CAGR of 8% during the forecast period. This is attributing to the rising demand for minimally invasive therapies, increasing prevalence of cardiovascular, respiratory, and abdominal disorders. The ultrasound technology with the help of transducers transfer the ultrasound waves and transmit the images with echoes in the machine. These are used for diagnostic purposes such as monitoring of cardiac, abdominal, cerebrovascular, gynecological, and urological. Thus, growing target patient pool with technological advancement associated with transducers will trigger the revenue growth of the market. Moreover, an increasing number of chronic diseases population, rising awareness about early diagnosis, and the growing number of ultrasound diagnostic imaging procedures are some more factors promoting the growth of the ultrasound transducer market. Furthermore high efficiency and safety associated with ultrasound machines led to increasing usage among end-user and the introduction of novel devices such as Silicon Wave L38-22 linear array transducer and EPIQ Elite ultrasound system will create a demand and drive the overall market in the forecasted period.
Key Market Trends
Convex in ultrasound transducer is Estimated to Witness a Healthy Growth in Future.
Convex transducer is estimated to witness healthy growth in the future attributed to several benefits associated with this convex transducer device. Benefits such as high efficiency, due to wider footprint and it focuses on the deep part of organ compared to other transducers product types. In addition, these devices also give more clear images and highly improved reliability. The beam shape of the convex transducer is convex and are ideal for in-depth investigation in several disorders Moreover, high adoption of convex transducers in the diagnosis of transvaginal, abdominal, and transrectal condition will promote the segment growth.
In Addition, the number of new cancer cases reported in 2018 as per Globocan around the world will promote early treatment and diagnosis of the disorder and further create a lucrative opportunity for the ultrasound transducer market in the coming years.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a significant market share in the global Ultrasound Transducer Market due to the rising prevalence of chronic diseases, high demand for technologically advanced medical devices, growing research and development expenditure, rising patient preference for early diagnosis and increasing demand of ultrasound system. The United States owns the largest share of Ultrasound Transducer Market in the North America region Furthermore, well-established infrastructure and growing healthcare infrastructure are also expected to fuel the Ultrasound Transducer Market in this region.
The Ultrasound Transducer Market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are Koninklijke Philips N.V, Siemens Healthineers, GE Healthcare, Hitachi Medical Systems, FUJIFILM Sonosite, Inc, Shenzhen Mindray Bio-Medical Electronics Co., Ltd, Canon Medical Systems Corporation, ESAOTE SPA, and Samsung Medison Co., Ltd.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support