The North America Ultrasound Transducer Market would witness market growth of 2.4% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 635.3 thousand units, showcasing a growth of 3.0% (2019-2022).
The ultrasound transducer market has experienced a remarkable surge in demand and expansion in recent years. This growth can be attributed to a confluence of factors, including unprecedented advances in medical technology, a consistent increase in healthcare expenditure, and a heightened awareness of the manifold benefits offered by ultrasound imaging. As a non-invasive and radiation-free diagnostic modality, ultrasound has become indispensable across various medical specialties, including obstetrics, cardiology, radiology, and many more.
Additionally, ultrasound transducers, essentially the instruments that transmit and receive ultrasound waves, play a pivotal role in ensuring the efficacy and precision of ultrasound imaging. They are tasked with converting electrical energy into sound waves and vice versa, allowing medical practitioners to visualize anatomical structures and monitor physiological processes in real time. The remarkable versatility of ultrasound transducers makes them invaluable tools for healthcare professionals, from capturing fetal development in expectant mothers to diagnosing heart conditions and assessing musculoskeletal injuries.
Moreover, the ultrasound transducer market has witnessed an extraordinary surge in demand and expansion, marking a transformative era in medical diagnostics. This surge can be related to a confluence of factors that underscore the pivotal role of ultrasound technology in modern healthcare. Firstly, the escalating prevalence of chronic diseases, such as cardiovascular disorders, cancer, and musculoskeletal conditions, has necessitated advanced diagnostic tools, and ultrasound transducers have risen to the occasion as indispensable assets in this battle.
In Canada, Health Canada is the regulatory body in charge of guaranteeing the efficacy and safety of medical devices, such as ultrasound machines and transducers. Items meet high-quality and safety standards due to strict regulatory requirements. Total health spending in Canada is anticipated to exceed $331 billion in 2022, or $8,563 per Canadian, according to the Canadian government. This follows a surge in spending due to the COVID-19 pandemic, particularly in 2020. In 2020, federal, provincial, and territorial governments (combined) spent $770 per person on health-specific funding for COVID-19. Therefore, due to the expanding healthcare expenditure, the region is expected to grow rapidly in the future.
The US market dominated the North America Ultrasound Transducer Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,194.4 million by 2030. The Canada market is experiencing a CAGR of 4.7% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 3.8% during (2023 - 2030).
Based on Product Type, the market is segmented into Convex, Linear, Phased Array, Endocavitary, CW Doppler, and Others. Based on End Use, the market is segmented into Hospital, Clinic, Diagnostic Center, and ASCs. Based on Application, the market is segmented into General Imaging, Cardiovascular, Musculoskeletal, Vascular, OB/GYN, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Ultrasound Transducer Market is Predict to reach $4.9 Billion by 2030, at a CAGR of 3.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include GE HealthCare Technologies, Inc., Siemens Healthineers AG (Siemens AG), FUJIFILM Sonosite, Inc. (Fujifilm Holdings Corporation), Canon, Inc. (Canon Medical Systems Corporation), Hitachi, Ltd. (Hitachi Healthcare), SonoScape Medical Corp., Koninklijke Philips N.V., Samsung Electronics Co., Ltd. (Samsung Group) (Samsung Medison Co., Ltd.), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. and Esaote SpA
By Product Type (Volume, Thousand Units, USD Million, 2019-2030)
By End Use (Volume, Thousand Units, USD Million, 2019-2030)
By Application (Volume, Thousand Units, USD Million, 2019-2030)
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