Global Next-Generation Ultrasound System Market Research Report: Forecast (2024-2030)

Market Definition

Next-Generation Ultrasound Systems are devices that are used to provide imaging diagnoses related to a wide range of chronic diseases. These devices utilize advanced technologies to provide diagnostic results more effectively. Furthermore, it provides improved quality, mobility, and affordability than standard ultrasound systems.

Market Insights & Analysis: Global Next-Generation Ultrasound Systems Market (2024-30):

The Global Next-Generation Ultrasound Systems Market size was valued at around USD 10.3 billion in 2023 & is expected to reach about USD 15.79 billion by 2030. The market is expected to grow at a CAGR of around 6.3% during the forecast period of 2024-30. Growth in the Global Next-Generation Ultrasound Systems Market has been triggered lately due to technological development and increased demand for rapid diagnosis of diseases. Next-generation ultrasound systems have user-friendly features such as a touchscreen panel that makes them easy to handle by consumers. Besides, the next generation of ultrasound systems provides better image quality with reduced noise that enhances accuracy. This device also provides better patient outcomes, which has gained heightened acceptance from healthcare professionals and has probably led to the growth of the Global Next-Generation Ultrasound Systems Market.

The companies in the market have been making regular efforts toward developing next-generation ultrasound systems with advanced features so that patient outcomes can be further enhanced. For instance,

• In 2022, Philips was granted the US FDA clearance for its next-generation portable 5000 compact Ultrasound system series with advanced technologies rendering high-quality images.

Besides, growing cases of diseases have further prompted an increase in the demand for these systems across hospitals. CVDs, abdominal ulcers, etc., have been very prevalent globally and often required the presence of ultrasound systems as diagnostic measures. Therefore, with next-generation ultrasound systems already prevailing in the market with highly efficient diagnosis results, their adoption has improved during the historical years. Over the last couple of years, governments of different countries have been attempting to strengthen healthcare infrastructure within their nations. These initiatives are directed toward incorporating high-end medical devices that would support accelerating their adoption in newer healthcare facilities during the forecast period.

Global Next-Generation Ultrasound Systems Market Driver:

Growing Cases of Chronic Diseases Driving Growth & Expansion of the Market – The increase in the number of patients suffering from chronic diseases has increased the demand for diagnostic solutions. Some of the diseases that have grossly affected major populations are cardiovascular diseases and urine infections, among others. For instance,

• According to the Centers for Disease Control and Prevention, in 2022, approximately 18 million deaths per year from CVD are observed, about 31 percent of all global deaths.

Testing through ultrasound is generally advised for patients with such chronic diseases, and as next-generation ultrasound systems are proving highly efficient, the level of dependency upon them has increased accordingly. Another important act that this fact has motivated is many clinical diagnostic centers working on next-generation ultrasound systems in the past few years, which has turned into a very strong driving factor for the market. Also, firms like Philips, Canon, etc., have been investing in developing disease-specific next-generation ultrasound systems for better performance. Hence, the growing incidence of cardiac diseases, coupled with the development of disease-specific solutions, would help the next-generation ultrasound systems market grow in the coming years.

Global Next-Generation Ultrasound Systems Market Challenge:

High Costs Posing Challenge to the Global Next-Generation Ultrasound Systems Market – One of the major challenges that hamper next-generation ultrasound systems adoption is the high cost over the traditional ones. Advanced and high-grade technologies are incorporated into next-generation ultrasound devices, which makes these devices too expensive to be purchased. Besides, these devices are overly integrated with a plethora of advanced software solutions, including AI, ML, and more. All these eventually add up to their final cost. Hence, as their cost is too high, their adoption has been very limited across the healthcare facilities of developing countries. This was majorly owing to the budget constraints of these developing nations, which has been affecting the investment in high-tech medical devices. To this extent, the high cost of next-generation ultrasound systems has been one big challenge to the market, thereby limiting the growth of the global industry.

Moreover, even the required infrastructure for manufacturing advanced medical devices is also lacking in developing countries, which adds to the purchasing price of imported devices under the imposition of import tariffs. Hence, this is expected to further restrict the adoption of next-generation ultrasound systems in developing countries in the next few years.

Global Next-Generation Ultrasound Systems Market Trend:

Increasing Adoption of Portable & Handheld Ultrasound Devices – Due to the ease of mobility and user-friendliness, portable and handheld ultrasound devices have become a key market trend in recent years. These features have also accelerated their acceptance in hospitals and medical institutions as they offer point-of-care diagnostic applications. In addition, their adoption has been majorly increasing for the diagnosis of heart and lung assessments, as handheld devices offer extreme user convenience to healthcare professionals. Also, the next-generation handheld ultrasound devices are often observed to offer increased accuracy in diagnosis, further improving their appeal among medical professionals. Also, these devices are actively used in emergency centers as they offer diverse applications in cardiology, vascular, and abdominal diagnostics. The improved clinical results have led to a greater acceptance of these devices among healthcare professionals. Hence, the adoption of handheld next-generation ultrasound systems is expected to drive market growth & expansion in the coming years as well.

Global Next-Generation Ultrasound Systems Market (2024-30): Segmentation Analysis

The Global Next-Generation Ultrasound Systems Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2024–2030 at the global level. Based on the analysis, the market has been further classified as:

Based on the Technology

• 4D/3D Ultrasound Systems
• 2D Ultrasound Systems
• Others (Fusion Imaging, Tissue Harmonic Imaging, etc.)

The 4D/3D Ultrasound Systems segment holds a major share of the Global Next-Generation Ultrasound Systems Market. This is primarily because these systems offer high-quality detailed images of internal organs and tissues, with high pixel and optimal resolution. Also, the 4D/3D next-generation ultrasound systems allow healthcare professionals to show their clients real-time images of their organs and it also helps in easily explaining the disorder. The recent breakthrough observed in 4D/3D ultrasound system technology included the launch of such systems for specifically observing pregnancies. These devices allow pregnant women to effectively look into the clear images of their fetuses. Hence, as these devices are experiencing substantial advancements, their demand is expected to grow in the forecast years as well.

Based on the End Users

• Hospitals
• Diagnostics Laboratories and Imaging Centers
• Clinics
• Ambulatory Surgical Center
• Others (Research Institutes, Veterinary Clinics, etc.)

The hospitals segment held a major share of the Global Next-Generation Ultrasound Systems Market because of the rising demand for high-quality diagnostic services. Hospitals, in recent years, have been adopting advanced solutions for improving patient care, which has resulted in a growing demand for advanced diagnostic solutions as well. Also, with rising chronic disorders across the globe, the patient footprint has amplified largely across hospital settings, as they are a preferred destination for patients. Hence, as the patient footprint escalates, hospitals would further demand advanced treatment and diagnostic solutions, which would help in the sales of next-generation ultrasound systems in this segment.

Global Next-Generation Ultrasound Systems Market (2024-30): Regional Projections

Geographically, the Global Next-Generation Ultrasound Systems Market expands across:

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

The Asia Pacific region had a significant share of the Global Next Generation Ultrasound Systems Market due to a rise in the development of advanced healthcare infrastructure in the region, specifically in countries such as China, India, Japan, etc. The rise in the prevalence of chronic diseases and a growing old-age population in the region has led to a rise in the demand for improved diagnostic services in the region. Also, patients from across the world come to countries such as India, Malaysia, etc., in Asia-Pacific to receive affordable medical treatment.

Hence, this has resulted in increasing medical tourism and patient footprint, which boosts the requirement for advanced diagnostics solutions across healthcare facilities. This is primarily because advanced diagnostic solutions would allow medical professionals across the region to effectively handle the growing patient footprints. Henceforth, the adoption of next-generation ultrasound systems has been growing enormously in the region, which has been supporting industry growth & expansion in the region. Also, as the countries in the region are working on improving their healthcare infrastructure, it would further escalate the demand for advanced medical devices like next-generation ultrasound systems in the forecast years as well.

Global Next-Generation Ultrasound Systems Industry Recent Development:

• 2024: GE HealthCare Technologies Inc. launched its next-generation LOGIQ ultrasound portfolio that includes LOGIQ Totus representing the company’s advancements in precision care.
• 2022: Butterfly Network Inc. announced that it received FDA clearance for its next-generation handheld ultrasound system Butterfly Iq3 Point-of-Care (POCUS) system.

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