The new report by Expert Market Research titled, ‘Global Ultrasound Transducer Market Size, Share, Trends, Analysis, Report and Forecast 2023-2031’, gives an in-depth analysis of the global ultrasound transducer market, assessing the market based on its segments like technologies, types, end-uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Ultrasound Transducer Market Share, Size, Price, Growth, Trends, Industry Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2016-2031)
- Forecast CAGR (2023-2031): 3.5%
The extensive application of ultrasound transducers in the healthcare industry, owing to the increasing prevalence of pregnancy complications, and rising cases of cardiovascular problems among the geriatrics, is driving the market growth. Meanwhile, ultrasound devices are also witnessing a heightened demand from the aerospace and defence industry for the purpose of underwater and atmospheric analysis.
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Over the forecast period, the growing research and development activities aimed towards understanding the potential uses of ultrasound in various industries such as food and beverage, and automotive, among others, are anticipated to propel the market growth.
Geographically, North America accounts for a significant share of the market owing to the high healthcare expenditure of countries like the United States and Canada.
Ultrasound Transducer Industry Definition and Major Segments
Ultrasound transducer is defined as a diagnostic instrument which is a handheld part of an ultrasound machine and is used to convert electric energy into mechanical energy. This equipment are crucial in the surgical and diagnostic purposes for various treatments including maternal and cardiovascular, among others. The images produced by ultrasound transducers are precise and provide detailed information to the user.
On the basis of technology, the market can be segmented into:
- Ultrasonic Medical Technology
- Ultrasonic Processing Technology
- Ultrasonic Testing Technology
Based on type, the market has been divided into:
- Ultrasonic Proximity Sensor
- Ultrasonic Retro-reflective Sensor
- Ultrasonic Through-beam Sensor
The significant end-uses of the product include:
- Automotive
- Food and Beverage
- Medical and Healthcare
- Aerospace and Defence
- Industrial
The regional markets for ultrasound transducer include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Ultrasound Transducer Market Trends
The key trends in the ultrasound transducer market include the rising healthcare expenditure in the emerging economies aimed towards bolstering the diagnosis and treatment processes for patients suffering from chronic diseases. The rapid development of hospitals and ambulatory surgical centres are anticipated to boost the demand for ultrasound modalities for general diagnostics, which is likely to be a crucial trend in the market.
Moreover, the increasing investments towards the technological advancements in the ultrasound technology by the major manufacturers are likely to lead to progressive product innovations and development of superior quality transducers. The thriving medical tourism across the developing countries is anticipated to offer lucrative opportunities to the ultrasound transducer market in the coming years.
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