The global contrast-enhanced ultrasound industry is on the cusp of a significant expansion, poised to reach a staggering valuation of US$ 9,214.3 million by 2033, according to the latest insights from Future Market Insights. The industry’s meteoric rise is underlined by its estimated valuation of US$ 5,243.3 million in 2023, marking a substantial increase from US$ 2,700 million in 2022.
This exponential growth is primarily attributed to the escalating demand for lung ultrasonography procedures, signifying a transformative shift in medical imaging preferences. Future Market Insights reports forecast a robust Compound Annual Growth Rate (CAGR) of 5.8% between 2023 and 2033, highlighting the industry’s sustained upward trajectory.
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Contrast-enhanced ultrasound has emerged as a pivotal tool in medical diagnostics, revolutionizing the precision and efficiency of procedures. Its non-invasive nature, coupled with enhanced imaging capabilities, has propelled its adoption across various medical domains. The industry is experiencing a rapid surge in lung ultrasonography procedures, further solidifying its position in the medical imaging landscape.
“This remarkable growth underscores the increasing acceptance and reliance on contrast-enhanced ultrasound in the medical community. Its non-invasive nature, coupled with advanced imaging capabilities, has positioned it as a game-changer in medical diagnostics,” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).
The Future Market Insights reports provide a comprehensive analysis of the industry’s trajectory, projecting a market valuation of US$ 9,214.3 million by the culmination of the decade-long trajectory in 2033. As medical professionals continue to prioritize precision and efficiency in diagnostics, contrast-enhanced ultrasound is expected to play a pivotal role in shaping the future of medical imaging.
Key Takeaways from the Market Study:
- Global contrast-enhanced ultrasound industry grew at a CAGR of 4.7% between 2017 and 2022
- Value of global contrast-enhanced ultrasound industry in 2017 was US$ 2,146.0 million
- North America dominates the market and is expected to continue its stronghold for a few more years with a market share of 36.0%, where the United States is expected to hold a major share in the market of 52.4%.
- Japan shares a value of 7.4%. Prospering medical tourism in developing countries such as India growing at a CAGR of 6.9%, Australia at a CAGR of 5.2%, and the Chinese market at 7.7% which further boosts the demand for world-class healthcare services.
- Europe holds a market share of 28.0% whereas the United Kingdom and Germany are said to hold an important part in this region where Germany holds a market share of 7.0% and the United Kingdom is said to grow at a CAGR of 5.1%.
- Targeted type holds a major portion of the market and holds a market share of 59.0%
- Hospitals are said to dominate the market and are projected for a revenue share of 39%
- Demand for echocardiography is said to be faring where echocardiography shares a major portion of the market with a value of 60.13%
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Competitive Analysis:
Some of the prominent players in the global market are-
- Trivitron Healthcare
- Bracco Diagnostic Inc.
- Koninklijke Philips N.V.
- K. Medical Holding Company, Inc.
- Lantheus Medical Imaging, Inc.
- GE Healthcare
- Daiichi Sankyo Company, Limited
- Bristol-Myers Squibb Company
- Acusphere, Inc.
- Siemens Healthcare GmbH
Some of the important developments of the key players in the market are:
- In June 2023, Acusphere, Inc. announced the signing of a definitive agreement with Cephalon, Inc. to provide $20 million in upfront financing by purchasing a $15 million senior secured convertible note and by paying a $5 million upfront fee for an exclusive worldwide license to AI-525, a preclinical-stage injectable formulation of celecoxib using Acusphere’s proprietary Hydrophobic Drug Delivery System (HDDSTM) technology.
- In April 2023, Bracco Imaging S.p.A., a global leader in diagnostic imaging, and SonoThera, Inc., a biotechnology company dedicated to treating the root cause of human diseases through genetic therapy, have entered into an agreement under which Bracco Imaging will provide its cutting-edge gas-filled microbubbles technology platform to SonoThera for use in the development of its novel, ultrasound-guided nonviral gene therapy platform.
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Key Segments Profiled in the Contrast-Enhanced Ultrasound Industry Survey:
Type:
- Non-Targeted
- Targeted
Application:
- Hepatic
- Echocardiography
- Cerebrovascular
- Thyroid & Parathyroid
- Gallbladder & Biliary Tree
- Renal
- Prostate
- Pancreatic
- Vascular
- Lymphatic
- Trauma
- Others
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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