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3D Ultrasound Market to Surpass USD 6.59 Billion by 2031 Driven by Rising Demand for Non-Invasive Diagnostics

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The 3D ultrasound market is experiencing significant growth due to the increasing demand for non-invasive diagnostic procedures, advancements in 3D imaging technology, and the rising prevalence of chronic diseases. The market is expected to reach a valuation of USD 6.59 billion by 2031, growing at a CAGR of 6.8% from 2024 to 2031.

A Growing Need for Advanced Imaging

Driven by factors like rising chronic diseases, expanding diagnostic facilities, and the preference for minimally invasive procedures, the 3D ultrasound market is flourishing. Advancements in 3D technology provide real-time clinical data, improving diagnosis and reducing healthcare costs. Its applications span across cardiology, obstetrics, and even emergency settings. 3D ultrasound offers advantages like efficiency, speed, and affordability compared to other imaging methods. Furthermore, miniaturization allows for real-time visualization during interventions, leading to faster scans and improved patient outcomes at a lower cost. The rising demand for 3D ultrasound across gynecology, cardiology, and other applications is fueled by its benefits such as crisp real-time images and visualization of fetal activity and cardiovascular functions.

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List of 3D Ultrasound Market Companies Profiled in Report:

  • GE Healthcare
  • Philips Healthcare
  • Canon
  • Hitachi
  • Siemens
  • Fujifilm
  • Royal Philips
  • Alpinion Medical Systems Co. Ltd.
  • Analogic Corp.
  • Esaote S.P.A
  • General Electric
  • Koninklijke Philips N.V
  • Samsung Medison Co. Ltd.
  • Shenzhen Mindray Bio-Medical Electronics Co. Ltd

Market Analysis: A Perfect Storm for Growth

  • Rising Prevalence of Chronic Diseases: The increasing prevalence of chronic diseases like cancer, heart disease, and lung disease is driving the demand for advanced diagnostic imaging techniques like 3D ultrasound. Early diagnosis and prompt treatment are crucial for managing these conditions, which fuels the market growth.
  • Technological Advancements: Rapid advancements in 3D ultrasound technology have improved image quality, processing speed, and visualization capabilities. These advancements translate to more accurate diagnoses and improved patient outcomes, further propelling market growth.
  • Emerging Markets: The rapid acceptance of healthcare technologies in developing regions with improved facilities and network connectivity is creating new opportunities for the 3D ultrasound market. These advancements cater to the growing demand for healthcare services in these regions, particularly for diagnosing chronic diseases and monitoring fetal activity during pregnancy.
  • Government Support: Increased government support for developing new 3D ultrasound technologies with improved efficiency, accuracy, and results is aiding market growth. This includes funding for infrastructure development and research & development initiatives. Additionally, government policies promoting medical sector reimbursements are making 3D ultrasound procedures more accessible to patients.

Market Segmentation: Understanding the Landscape

End-Use Insights:

  • Handheld
  • Cart/Trolley

Cart-Based Devices Dominate: Cart-based 3D ultrasound devices held a dominant market share of 78% in 2023. The high usage of these devices and the increasing number of product launches contribute to segment growth. Rising healthcare expenditure and hospital admissions for various cardiac and pulmonary diseases further bolster the demand for cart-based systems.

Application Insights:

  • General imaging
  • Cardiovascular
  • Obstetrics and Gynecology
  • Point of care

General Imaging Leads the Way: The general imaging segment held the largest market share (32%) in 2023 due to the rising adoption of these devices and an increasing number of product launches. For instance, GE Healthcare launched the AI-based LOGIQ E10 radiology ultrasound system in February 2018, designed to produce high-quality images for various body parts.

Impact of Global Events:

Russia-Ukraine War:

The ongoing conflict between Russia and Ukraine may negatively impact the 3D ultrasound market due to economic instability, inflation, currency depreciation, and trade disruptions. This can lead to reduced healthcare spending and investments, hindering the purchasing power of healthcare institutions and limiting their ability to acquire expensive medical equipment like 3D ultrasound scanners. Additionally, regulatory adjustments prioritizing security measures during wartime may lead to delays or restrictions in importing or exporting medical equipment, including 3D ultrasound systems.

Economic Slowdown:

Reduced Healthcare Spending: During a recession, budgets for healthcare are often under strain, leading to decreased spending on medical devices like 3D ultrasound scanners. Healthcare institutions might delay or reduce purchases of expensive capital equipment, hindering market expansion.

Delays in Purchases: Healthcare providers may postpone buying 3D ultrasound equipment due to economic uncertainty and limited access to funds. They might prioritize extending the life of existing equipment or focus on critical healthcare services, leading to temporary market slowdowns.

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3-D Ultrasound Market
3-D Ultrasound Market

Recent Developments:

GE Healthcare: In July 2022, GE Healthcare introduced the Voluson Expert 22, their most advanced ultrasound system to date. This next-generation system leverages their acclaimed beam-forming technology to deliver superior image quality and increased flexibility for women’s health imaging applications.

Royal Philips: At the Radiological Society of North America’s annual conference in November 2022, Royal Philips, a prominent healthcare technology leader, unveiled the global launch of their next-generation compact portable ultrasound series. This new Philips 5000 series aims to democratize access to the diagnostic capabilities typically offered by high-end cart-based ultrasound systems.

Key Regional Developments:

North America is expected to remain dominant in the 3D ultrasound market, holding onto its 30.2% share in 2023. This dominance is fueled by a constant stream of new product launches, favorable reimbursement policies, and ongoing advancements in 3D imaging technology. Additionally, rising patient demand and increasing R&D investments solidify North America’s position. Meanwhile, the Asia Pacific region is poised for the fastest growth due to a growing preference for minimally invasive procedures and an expanding patient base. Notably, underutilized ultrasound technology in cardiology, radiology, and women’s health presents a significant opportunity for wider adoption of 3D ultrasound imaging in this region.

Key Takeaways: Why You Should Invest in this Report

  • Understand the growth trajectory of the 3D ultrasound market and identify potential high-growth segments.
  • Stay ahead of the curve by exploring current and upcoming trends that will shape the future of the market.
  • Gain insights into the key players in the market, their product offerings, and their development strategies.
  • Identify lucrative investment opportunities across different segments and regions within the 3D ultrasound market.
  • Make informed decisions about product development, marketing strategies, and geographical expansion based on robust market data and analysis.

Purchase 3D Ultrasound Market Report @ https://www.snsinsider.com/checkout/3099

Table of Content

Chapter 1 Introduction

Chapter 2 Research Methodology

Chapter 3 3D Ultrasound Market Dynamics

Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)

Chapter 5 Value Chain Analysis

Chapter 6 Porter’s 5 forces model

Chapter 7 PEST Analysis

Chapter 8 3D Ultrasound Market Segmentation, By Application

Chapter 9 3D Ultrasound Market Segmentation, By End-use

Chapter 10 Regional Analysis

Chapter 11 Company profile

Chapter 12 Competitive Landscape

Chapter 13 Use Case and Best Practices

Chapter 14 Conclusion

Continued…

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