Ultrasound Transducer Market Size Estimated to Reach $5.2 Billion by 2026

Growing Technological Advancements in Ultrasound Transducer Devices and Rising Use of Ultrasonic Systems is Driving the Growth of Ultrasound Transducer Market

Ultrasound Transducer Market size is estimated to reach $5.2 billion by 2026, growing at a CAGR of 3.8% during the forecast period 2021-2026. Ultrasound transducers deals with medical ultrasonography to produce and detect the ultrasound waves. Ultrasonic sensors in the transducer translate electrical energy into sound waves that bounce off body tissues and emit echoes.

Ultrasound transducers are available in different sizes and shapes, and they exhibit diverse features. Ultrasound transducers come in a variety of sizes and forms, as well as a variety of features. Factors such as rising demand for minimally invasive therapies and the rising prevalence of respiratory, cardiovascular, and abdominal disorders are driving the market forward.

Ultrasound Transducer Market Segment Analysis - By Product Type

The Ultrasound Transducer Market based on the Product Type can be further segmented into Linear, Phased Array, Convex, CW Doppler, Endocavitary, and others. Convex segment held the largest share in 2020 owing to the high efficiency of the product. As compared to a linear array design.

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Ultrasound Transducer Market Segment Analysis - By Product Type

The Ultrasound Transducer Market based on the Application can be further segmented into Cardiovascular, General Imaging, Musculoskeletal, Obstetrics & Gynecology, Vascular, others. Cardiovascular segment is estimated to be the fastest-growing segment with a CAGR of 4.4% over the period 2021-2026. This is owing to the growing demand for accurate diagnostics, the introduction of specially designed products, the rising prevalence of heart-related disorders, and growing awareness among individuals regarding timely treatment.

Ultrasound Transducer Market Segment Analysis - By Geography

North America held a major share of 40.4% in 2020. This is owing to the widespread use of piezoelectric sensors and non-destructive testing (NDT) in imaging the thyroid gland, chest, and carotid artery has fueled this development. Furthermore, the region's market is expected to expand due to rising demand for technologically advanced medical devices. Asia-Pacific is estimated to be the fastest-growing segment with a CAGR of 4.4% over the period 2021-2026 owing to the rapidly growing geriatric population, improving healthcare facilities for treating heart disorders, and growing medical ultrasonography applications. In addition, the key players are strategizing to increase their presence in the region and offer products at competitive prices, which is estimated to drive the regional market growth.

Ultrasound Transducer Market Drivers

Growing Technological Advancements in Ultrasound Transducer Devices

Rising technological advances in Ultrasound Transducer devices have led to the high pace of product launches, which is estimated to drive the ultrasonic transducer market growth. Major players are focusing on R&D activities to develop high-power, portable, single-use ultrasonic transducers.

Rising Use of Ultrasonic Systems

The increased use of ultrasonic systems owing to their high efficiency and safety is estimated to drive the growth of Ultrasound Transducers Market. These devices provide an accurate diagnosis, enables physicians to provide effective imaging to improve patient care with lower overhead and lower costs, and offer real-time data to doctors for better diagnosis.

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Ultrasound Transducer Market Challenges

Lack of experienced and skilled sonographers

Ultrasound Transducer requires skilled sonographers for obtaining an accurate artifact-free recording of good clinical quality and diagnostic value. Ultrasound transducer needs a trained sonographer to capture images in real-time to show the structure and movement of the internal body organs, blood flow through the blood vessels.

Ultrasound Transducer Industry outlook:

Transducer Market. Key companies of this market are E Healthcare, Siemens, Canon Medical Systems, Koninklijke Philips N.V., Samsung Medison, FUJIFILM SonoSite, Esaote, Hitachi, SIUI, Mindray, Shenzhen Ruqi Technology, Shenzhen Jiarui Electronic Technology, SonoScape Medical, among others.

Acquisitions/Product Launches:

In July 2020, FUJIFILM Sonosite, Inc., has announced the launch of the new Sonosite PX ultrasound system. Sonosite PX is a next generation in Sonosite POCUS, with most advanced image clarity in a Sonosite system.
In May 2020, Koninklijke Philips N.V. has launched the ultrasound solution for pediatric patient assessment, the latest addition for its Philips Ultrasound System (EPIQ Elite). The solution provides physicians to diagnose the pediatric patients by reducing additional diagnostic imaging steps.

In February 2019, Canon Medical Systems has launched 33 MHz ultra-high frequency transducer to expand the clinical applications of ultrasound New Transducer Delivers Highest Frequency by expanding its advanced, high-performing Aplio i-series ultrasound platform.

Key Takeaways

Geographically, North America Ultrasound Transducer Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the high adoption of piezoelectric sensors, Nondestructive testing (NDT) in imaging the thyroid gland, chest and carotid artery in the region.

The high demand for radiation-free and non-invasive diagnostic modalities is driving the growth of the general imaging segment.

Lack of experience and skilled sonographers is one of the major factors that is said to reduce the growth of the Market.

Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Ultrasound Transducer Market report.

Related Reports :

A. Ultrasound Device Market

B. Ultrasonic Sensor Market

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