The Ultrasonic Devices Market is expected to register a CAGR of 5.78% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Type (Doppler Ultrasonic Imaging, High-Intensity Focused Ultrasonic (HIFU), 3-D and 4-D Ultrasonic Imaging, Other); and Application (Cardiovascular, Obstetrics and Gynecology, Gastroenterology, Radiology, Other). The global analysis is broken down at the regional level and for major countries. The market evaluation is presented in US$ for the above segmental analysis.
Purpose of the ReportThe report Ultrasonic Devices Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Ultrasonic Devices Market Segmentation
Type- Doppler Ultrasonic Imaging
- High-Intensity Focused Ultrasonic
- 3-D and 4-D Ultrasonic Imaging
- Cardiovascular
- Obstetrics and Gynecology
- Gastroenterology
- Radiology
Strategic Insights
Ultrasonic Devices Market Growth Drivers- Rising Demand for Non-invasive Medical Procedures: The growing preference for non-invasive medical treatments and diagnostic procedures is a significant driver for the ultrasonic devices market. Ultrasonic devices, used in imaging, diagnostic, and therapeutic applications, provide a safe, pain-free, and efficient alternative to traditional invasive procedures. The demand for non-invasive medical procedures is increasing globally as patients and healthcare providers seek safer and more comfortable alternatives to traditional surgical methods. Ultrasonic devices, such as ultrasound machines, offer a non-invasive solution for diagnostic imaging, such as fetal monitoring during pregnancy, and are widely used in other areas, including cardiology, gynecology, and oncology. Ultrasonic technology provides high-resolution imaging without the need for incisions or radiation, making it a preferred choice for both medical professionals and patients. As healthcare systems increasingly focus on reducing recovery times, minimizing complications, and offering safer treatment options, ultrasonic devices are playing an essential role in driving market growth. The demand for non-invasive procedures is expected to continue rising, further expanding the size and market share of the ultrasonic devices market.
- Technological Advancements in Ultrasound Equipment: Continuous advancements in ultrasound technology are driving the growth of the ultrasonic devices market. Innovations such as portable ultrasound machines, 3D/4D imaging, and enhanced diagnostic capabilities are making ultrasound devices more accessible, versatile, and effective in various clinical applications. Technological innovations in ultrasound equipment are a major growth driver in the ultrasonic devices market. Recent developments, such as portable and handheld ultrasound devices, have made it easier for healthcare providers to perform diagnostic imaging at the point of care, improving patient outcomes and enhancing convenience. Moreover, advancements in 3D/4D imaging technologies allow for more detailed and accurate imaging, particularly in obstetrics and cardiology. These innovations are improving diagnostic capabilities, enabling earlier detection of medical conditions, and facilitating more accurate treatment planning. The integration of artificial intelligence (AI) and machine learning into ultrasound devices is also enhancing their diagnostic potential, providing real-time analysis of images and helping clinicians make faster, more informed decisions. As these technological advancements continue to evolve, the market for ultrasonic devices is expected to expand, with an increase in both market share and size.
- Increasing Prevalence of Chronic Diseases: The rising incidence of chronic diseases, such as cardiovascular diseases, diabetes, and cancer, is driving the demand for diagnostic and therapeutic ultrasonic devices. As chronic diseases often require regular monitoring, ultrasonic devices are becoming essential tools in the early detection and management of these conditions. The increasing prevalence of chronic diseases is a key driver of the ultrasonic devices market. Chronic diseases such as cardiovascular diseases, cancer, and diabetes are leading causes of death globally, and early detection and ongoing monitoring are critical to managing these conditions effectively. Ultrasonic devices, including echocardiograms, abdominal ultrasounds, and Doppler ultrasound devices, play a crucial role in diagnosing and tracking these diseases. The non-invasive nature of ultrasound makes it an ideal tool for frequent monitoring, as it allows healthcare providers to assess patients’ conditions without the need for invasive procedures. As the global burden of chronic diseases continues to rise, the demand for ultrasonic devices to aid in early detection, treatment, and management is expected to increase, driving growth in the market.
- Miniaturization of Ultrasonic Devices: The trend toward miniaturization of ultrasonic devices is transforming the market. Portable and handheld ultrasound devices are becoming more common, enabling healthcare providers to perform diagnostics in remote or resource-limited settings, making medical imaging more accessible to a larger patient population. Miniaturization is a prominent trend shaping the future of the ultrasonic devices market. Portable ultrasound machines, which are compact, lightweight, and easy to use, are transforming how diagnostic imaging is delivered in both emergency and routine care settings. These devices are increasingly used in clinics, rural areas, and ambulatory settings, where traditional ultrasound equipment may not be accessible. In addition to their portability, these devices offer the advantage of being more affordable than traditional ultrasound machines, making them accessible to a wider range of healthcare providers. Miniaturized ultrasound devices are also being integrated with mobile platforms, enabling clinicians to store and share diagnostic images more easily. This trend toward portability and miniaturization is expected to expand the size of the market, as more healthcare providers adopt these versatile and cost-effective solutions.
- Focus on Point-of-Care Ultrasound (POCUS): The increasing use of point-of-care ultrasound (POCUS) devices in emergency medicine, critical care, and primary care is a key trend. POCUS allows healthcare providers to perform real-time diagnostics at the patient’s bedside, improving care delivery and decision-making in critical situations.
Point-of-care ultrasound (POCUS) is becoming a significant trend in the healthcare industry, particularly in emergency and critical care settings. POCUS allows healthcare providers to conduct real-time imaging at the patient’s bedside, enabling faster diagnosis and treatment. This is especially beneficial in emergency situations, where quick decisions are crucial for patient survival. POCUS devices are portable, easy to use, and can provide immediate feedback, making them an essential tool for doctors and medical professionals. The growing demand for POCUS in both emergency rooms and primary care settings is expected to drive the adoption of ultrasound technology across healthcare systems worldwide. As POCUS devices become more widely used, the market for ultrasonic devices will continue to grow, further increasing the overall size and market share. - Increased Use of Ultrasound in Musculoskeletal and Physiotherapy Treatments: The increasing application of ultrasound technology in musculoskeletal and physiotherapy treatments is another trend influencing the ultrasonic devices market. Ultrasound therapy is used for tissue healing, pain relief, and muscle recovery, creating new opportunities for ultrasound devices in rehabilitation settings. The use of ultrasound in musculoskeletal and physiotherapy treatments is gaining momentum as a key trend in the ultrasonic devices market. Ultrasound therapy is widely used for pain management, tissue healing, and muscle recovery, particularly in rehabilitation settings. By delivering high-frequency sound waves to the body, ultrasound can promote blood flow, reduce inflammation, and accelerate tissue repair, making it an effective treatment for conditions such as tendonitis, muscle strains, and joint pain. The growing demand for non-invasive therapies and rehabilitation treatments is expected to drive the adoption of ultrasound devices in physiotherapy clinics and sports medicine. As this trend continues to grow, the market for ultrasonic devices will expand, providing new opportunities for manufacturers to capture a larger share of the market.
- Rising Demand for Home Healthcare Devices: The increasing demand for home healthcare devices presents an opportunity for ultrasonic devices. As more patients seek to manage their healthcare needs at home, portable ultrasound devices can be used for monitoring chronic conditions or guiding at-home treatments.
The growing trend of home healthcare is creating a significant opportunity for the ultrasonic devices market. With more patients seeking to manage their health at home, particularly in chronic disease management, there is increasing demand for portable ultrasound devices. These devices can be used for monitoring conditions such as heart disease, musculoskeletal injuries, and pregnancy, reducing the need for frequent hospital visits. As the technology becomes more affordable and user-friendly, patients will be able to use ultrasound devices at home for regular check-ups and monitoring. This trend will drive the growth of the ultrasonic devices market, contributing to increased market size and share, particularly in the home healthcare sector. - Expanding Applications in Aesthetic Medicine: The growing use of ultrasound technology in aesthetic medicine presents an opportunity for the ultrasonic devices market. Ultrasound-based treatments for facial rejuvenation, body contouring, and cellulite reduction are gaining popularity among consumers seeking non-invasive cosmetic procedures. The increasing popularity of non-invasive cosmetic procedures is creating new opportunities for ultrasound technology in the aesthetic medicine market. Ultrasound-based treatments are being used for facial rejuvenation, skin tightening, and body contouring, providing patients with safe, effective alternatives to traditional surgical procedures. These treatments are minimally invasive, require little to no downtime, and offer long-lasting results, making them attractive options for consumers. As demand for non-invasive aesthetic procedures grows, the ultrasonic devices market is expected to see increased adoption of ultrasound technology in cosmetic treatments, expanding its size and market share.
- Technological Advancements in Ultrasound Imaging: The continuous advancements in ultrasound imaging technology offer significant opportunities for market expansion. The introduction of 3D/4D imaging, higher resolution, and advanced Doppler techniques are enhancing diagnostic capabilities, contributing to the growth of the ultrasonic devices market. The ongoing technological advancements in ultrasound imaging are creating numerous opportunities for the market. Innovations such as 3D/4D imaging, enhanced Doppler techniques, and higher resolution images are improving the accuracy and versatility of ultrasound devices. These advancements are enabling more precise diagnoses across various medical specialties, from obstetrics to cardiology. As ultrasound technology becomes more advanced and accessible, the demand for high-quality diagnostic imaging is expected to rise, driving market growth. This technological progress will expand the market share and size of the ultrasonic devices market, particularly in applications that require high-definition imaging.
- Growing Integration of Ultrasound in Veterinary Medicine
The increasing use of ultrasound technology in veterinary medicine presents a growing opportunity for the ultrasonic devices market. Ultrasound is widely used in the diagnosis and monitoring of animals, including pets and livestock, for various conditions such as pregnancy monitoring, organ health, and injury treatment.
As veterinary medicine evolves and becomes more advanced, there is a rising demand for high-quality diagnostic tools, including ultrasound devices, for the care of animals. Veterinary ultrasound devices are particularly popular for non-invasive procedures like pregnancy detection in animals, abdominal imaging, and musculoskeletal evaluations. They are also widely used in livestock farming for health assessments and breeding purposes. The growing awareness of pet care and advancements in veterinary care are driving the adoption of ultrasound technology in clinics and animal hospitals. In addition, the rise in pet ownership worldwide, especially in developed countries, contributes to an increased need for veterinary diagnostic equipment. The use of ultrasound in veterinary applications is expected to continue growing, creating an opportunity to expand the ultrasonic devices market into this niche. By catering to this emerging demand, manufacturers can tap into a new market segment, thus boosting the overall size and share of the ultrasonic devices market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Ultrasonic Devices Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Ultrasonic Devices Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
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to segments covered.

Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
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Frequently Asked Questions
The Ultrasonic Devices Market is estimated to witness a CAGR of 5.78% from 2025 to 2031.
The major factors driving the Ultrasonic Devices Market are Rising Demand for Non-invasive Medical Procedures, Technological Advancements in Ultrasound Equipment, and Increasing Prevalence of Chronic Diseases.
Future trends in the Ultrasonic Devices Market are Miniaturization of Ultrasonic Devices, Focus on Point-of-Care Ultrasound (POCUS), and Increased Use of Ultrasound in Musculoskeletal and Physiotherapy Treatments.
Some of the players operating in the market are Philips Healthcare Siemens Healthcare, Toshiba Corporation, Mindray Medical International Limited, GE Healthcare, Fujifilm Holdings, Analogic Corporation, Esaote, Samsung Medison, Hitachi Medical Corporation.
The report can be delivered in PDF/PPT format; we can also share an excel datasheet based on the request.
Some customization options available based on the request are an additional 3–5 company profiles and a country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation# as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Ultrasonic Devices Market - By Type
1.3.2 Ultrasonic Devices Market - By Application
1.3.3 Ultrasonic Devices Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ULTRASONIC DEVICES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. ULTRASONIC DEVICES MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. ULTRASONIC DEVICES MARKET - GLOBAL MARKET ANALYSIS
6.1. ULTRASONIC DEVICES - GLOBAL MARKET OVERVIEW
6.2. ULTRASONIC DEVICES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ULTRASONIC DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. DOPPLER ULTRASOUND IMAGING
7.3.1. Overview
7.3.2. Doppler Ultrasound Imaging Market Forecast and Analysis
7.4. HIGH-INTENSITY FOCUSED ULTRASOUND (HIFU)
7.4.1. Overview
7.4.2. High-Intensity Focused Ultrasound (HIFU) Market Forecast and Analysis
7.5. 3-D AND 4-D ULTRASOUND IMAGING
7.5.1. Overview
7.5.2. 3-D and 4-D Ultrasound Imaging Market Forecast and Analysis
7.6. OTHER
7.6.1. Overview
7.6.2. Other Market Forecast and Analysis
8. ULTRASONIC DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. CARDIOVASCULAR
8.3.1. Overview
8.3.2. Cardiovascular Market Forecast and Analysis
8.4. OBSTETRICS AND GYNECOLOGY
8.4.1. Overview
8.4.2. Obstetrics and Gynecology Market Forecast and Analysis
8.5. GASTROENTEROLOGY
8.5.1. Overview
8.5.2. Gastroenterology Market Forecast and Analysis
8.6. RADIOLOGY
8.6.1. Overview
8.6.2. Radiology Market Forecast and Analysis
8.7. OTHER
8.7.1. Overview
8.7.2. Other Market Forecast and Analysis
9. ULTRASONIC DEVICES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Ultrasonic Devices Market Overview
9.1.2 North America Ultrasonic Devices Market Forecasts and Analysis
9.1.3 North America Ultrasonic Devices Market Forecasts and Analysis - By Type
9.1.4 North America Ultrasonic Devices Market Forecasts and Analysis - By Application
9.1.5 North America Ultrasonic Devices Market Forecasts and Analysis - By Countries
9.1.5.1 United States Ultrasonic Devices Market
9.1.5.1.1 United States Ultrasonic Devices Market by Type
9.1.5.1.2 United States Ultrasonic Devices Market by Application
9.1.5.2 Canada Ultrasonic Devices Market
9.1.5.2.1 Canada Ultrasonic Devices Market by Type
9.1.5.2.2 Canada Ultrasonic Devices Market by Application
9.1.5.3 Mexico Ultrasonic Devices Market
9.1.5.3.1 Mexico Ultrasonic Devices Market by Type
9.1.5.3.2 Mexico Ultrasonic Devices Market by Application
9.2. EUROPE
9.2.1 Europe Ultrasonic Devices Market Overview
9.2.2 Europe Ultrasonic Devices Market Forecasts and Analysis
9.2.3 Europe Ultrasonic Devices Market Forecasts and Analysis - By Type
9.2.4 Europe Ultrasonic Devices Market Forecasts and Analysis - By Application
9.2.5 Europe Ultrasonic Devices Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Ultrasonic Devices Market
9.2.5.1.1 Germany Ultrasonic Devices Market by Type
9.2.5.1.2 Germany Ultrasonic Devices Market by Application
9.2.5.2 France Ultrasonic Devices Market
9.2.5.2.1 France Ultrasonic Devices Market by Type
9.2.5.2.2 France Ultrasonic Devices Market by Application
9.2.5.3 Italy Ultrasonic Devices Market
9.2.5.3.1 Italy Ultrasonic Devices Market by Type
9.2.5.3.2 Italy Ultrasonic Devices Market by Application
9.2.5.4 Spain Ultrasonic Devices Market
9.2.5.4.1 Spain Ultrasonic Devices Market by Type
9.2.5.4.2 Spain Ultrasonic Devices Market by Application
9.2.5.5 United Kingdom Ultrasonic Devices Market
9.2.5.5.1 United Kingdom Ultrasonic Devices Market by Type
9.2.5.5.2 United Kingdom Ultrasonic Devices Market by Application
9.2.5.6 Rest of Europe Ultrasonic Devices Market
9.2.5.6.1 Rest of Europe Ultrasonic Devices Market by Type
9.2.5.6.2 Rest of Europe Ultrasonic Devices Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Ultrasonic Devices Market Overview
9.3.2 Asia-Pacific Ultrasonic Devices Market Forecasts and Analysis
9.3.3 Asia-Pacific Ultrasonic Devices Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Ultrasonic Devices Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Ultrasonic Devices Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Ultrasonic Devices Market
9.3.5.1.1 Australia Ultrasonic Devices Market by Type
9.3.5.1.2 Australia Ultrasonic Devices Market by Application
9.3.5.2 China Ultrasonic Devices Market
9.3.5.2.1 China Ultrasonic Devices Market by Type
9.3.5.2.2 China Ultrasonic Devices Market by Application
9.3.5.3 India Ultrasonic Devices Market
9.3.5.3.1 India Ultrasonic Devices Market by Type
9.3.5.3.2 India Ultrasonic Devices Market by Application
9.3.5.4 Japan Ultrasonic Devices Market
9.3.5.4.1 Japan Ultrasonic Devices Market by Type
9.3.5.4.2 Japan Ultrasonic Devices Market by Application
9.3.5.5 South Korea Ultrasonic Devices Market
9.3.5.5.1 South Korea Ultrasonic Devices Market by Type
9.3.5.5.2 South Korea Ultrasonic Devices Market by Application
9.3.5.6 Rest of Asia-Pacific Ultrasonic Devices Market
9.3.5.6.1 Rest of Asia-Pacific Ultrasonic Devices Market by Type
9.3.5.6.2 Rest of Asia-Pacific Ultrasonic Devices Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Ultrasonic Devices Market Overview
9.4.2 Middle East and Africa Ultrasonic Devices Market Forecasts and Analysis
9.4.3 Middle East and Africa Ultrasonic Devices Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Ultrasonic Devices Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Ultrasonic Devices Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Ultrasonic Devices Market
9.4.5.1.1 South Africa Ultrasonic Devices Market by Type
9.4.5.1.2 South Africa Ultrasonic Devices Market by Application
9.4.5.2 Saudi Arabia Ultrasonic Devices Market
9.4.5.2.1 Saudi Arabia Ultrasonic Devices Market by Type
9.4.5.2.2 Saudi Arabia Ultrasonic Devices Market by Application
9.4.5.3 U.A.E Ultrasonic Devices Market
9.4.5.3.1 U.A.E Ultrasonic Devices Market by Type
9.4.5.3.2 U.A.E Ultrasonic Devices Market by Application
9.4.5.4 Rest of Middle East and Africa Ultrasonic Devices Market
9.4.5.4.1 Rest of Middle East and Africa Ultrasonic Devices Market by Type
9.4.5.4.2 Rest of Middle East and Africa Ultrasonic Devices Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Ultrasonic Devices Market Overview
9.5.2 South and Central America Ultrasonic Devices Market Forecasts and Analysis
9.5.3 South and Central America Ultrasonic Devices Market Forecasts and Analysis - By Type
9.5.4 South and Central America Ultrasonic Devices Market Forecasts and Analysis - By Application
9.5.5 South and Central America Ultrasonic Devices Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Ultrasonic Devices Market
9.5.5.1.1 Brazil Ultrasonic Devices Market by Type
9.5.5.1.2 Brazil Ultrasonic Devices Market by Application
9.5.5.2 Argentina Ultrasonic Devices Market
9.5.5.2.1 Argentina Ultrasonic Devices Market by Type
9.5.5.2.2 Argentina Ultrasonic Devices Market by Application
9.5.5.3 Rest of South and Central America Ultrasonic Devices Market
9.5.5.3.1 Rest of South and Central America Ultrasonic Devices Market by Type
9.5.5.3.2 Rest of South and Central America Ultrasonic Devices Market by Application
10. IMPACT OF COVID-19 PANDEMIC ON GLOBAL ULTRASONIC DEVICES MARKET
10.1 North America
10.2 Europe
10.3 Asia-Pacific
10.4 Middle East and Africa
10.5 South and Central America
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. ULTRASONIC DEVICES MARKET, KEY COMPANY PROFILES
12.1. PHILIPS HEALTHCARE
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. SIEMENS HEALTHCARE
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. TOSHIBA CORPORATION
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. MINDRAY MEDICAL INTERNATIONAL LIMITED
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. GE HEALTHCARE
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. FUJIFILM HOLDINGS
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. ANALOGIC CORPORATION
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. ESAOTE
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. SAMSUNG MEDISON
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. HITACHI MEDICAL CORPORATION
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Philips Healthcare
2. Siemens Healthcare
3. Toshiba Corporation
4. Mindray Medical International Limited
5. GE Healthcare
6. Fujifilm Holdings
7. Analogic Corporation
8. Esaote
9. Samsung Medison
10. Hitachi Medical Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.