Ultrasound Market to Reach USD 20.34 Billion by 2034, Growing at a 7.26% CAGR from USD 10.1 Billion in 2024

The ultrasound market size is calculated at USD 10.84 billion in 2025 and is expected to reach around USD 20.34 billion by 2034, growing at a CAGR of 7.26% for the forecasted period.

Ottawa, Nov. 04, 2025 (GLOBE NEWSWIRE) -- The global ultrasound market size was valued at USD 10.1 billion in 2024 and is predicted to hit around USD 20.34 billion by 2034, rising at a 7.26% CAGR, a study published by Towards Healthcare a sister firm of Precedence Research. This market is rising due to the growing demand for non-invasive diagnostic imaging and therapeutic solutions across healthcare settings.

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Key Takeaways:

North America dominated the global ultrasound market share by 44% in 2024.
Asia-Pacific is anticipated to grow at the highest CAGR in the market during the forecast period.
By product, the diagnostic ultrasound devices segment held a dominant presence in the market in 2024.
By product, the therapeutic ultrasound devices segment is anticipated to grow at the fastest rate in the market during the studied years.
By portability, the cart/trolley segment was dominant in the market in 2024.
By portability, the handheld segment is expected to grow at the fastest rate in the coming years.
By application, the radiology segment held the highest share of the ultrasound market in 2024.
By application, the Obstetrics/Gynaecology segment is estimated to grow at the fastest rate during the predicted timeframe.
By end-use, the hospitals segment held the largest share of the market in 2024.
By end-use, the imaging centers segment is projected to grow at the fastest rate during the forecast period.

Market Overview:

Growth is driven by the increased utilization of ultrasound in diagnostic and therapeutic procedures, increasing healthcare spending, and the migration towards more affordable imaging options in developing countries. Innovations in technologies, notably, 3D/4D imaging, handheld and portable systems, and AI-based solution are increasing the appeal of ultrasound devices, driving more rapid, intelligent, and accessible imaging workflows. With healthcare systems across the globe aiming for early diagnosis, cost-effective procedures and increased access to imaging in the community, ultrasound is uniquely positioned due to its safety, flexibility, and increasing number of applications beyond the radiology suite.

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Major Growth Drivers:

Increased incidence of chronic and lifestyle-related diseases: As diseases such as cardiovascular disease, cancer, diabetes, and obesity become more global in nature, the need for regular imaging and monitoring increases globally, ultrasound, as a non-invasive diagnostic tool will play a role.
Emerging technology and miniaturisation of ultrasound devices: Emerging technologies such as handheld ultrasound systems, wireless capabilities, and AI-assisted scanning will allow more ultrasound devices to be used in point-of-care situations, emergency care, and in remote areas, expanding the reach of ultrasound.
Increased demand for non-invasive and point-of-care diagnostic imaging: Healthcare delivery is increasingly favouring diagnostic imaging that is non-invasive, involves no or minimal radiation, and is cost-efficient and can be performed at the bedside or other outpatient/remote diagnostic imaging settings; ultrasound is a strong fit.
Expansion of healthcare infrastructure and increased healthcare spending in emerging markets: With improved access and quality of healthcare in Asia-Pacific, Latin America, and other growth markets, there is a need for access to diagnostic imaging equipment, including ultrasound devices, in hospitals, clinics, and mobile settings.

Key Drifts: What Trends are Impacting the Ultrasound Machine Market?

Trends include the adding artificial intelligence into imaging devices allowing for automated measurement, improved image quality and reduced reliance on operator proficiency. The influx of handheld and portable ultrasound devices will allow for point-of-care, mobile diagnostics, and use in deficient or rural healthcare settings which expands an ultrasound market from hospital-based machines.

Tele-ultrasound and remote tech modality workflows have continued to develop in health care post-pandemic allowing imaging in a remote and home-care setting with implications related to digital health informatics in hospital, clinic or community healthcare environments; and, 3D/4D imaging, elastography, and contrast-enhanced ultrasound will become more common, resulting in a quality focused market for higher-end ultrasound machines and more clinical applications of ultrasound interventions.

Significant Challenge:

What is the Main Hurdle to the Ultrasound Market?

There is great diagnostic and therapeutic potential in ultrasound technologies, it is a significant hurdle that many advanced systems (especially therapeutic and premium diagnostic units) continue to have a high initial capital cost. This problem continues to restrain smaller clinics, and practices in developing nations, from adopting these innovations. Additionally, there may not be a consistent reimbursement policy in many regions, which can also continue to present difficulties in direct uptake of new, portable ultrasound technologies.

Regional Analysis:

North America accounts for the largest share of the global ultrasound devices market, accounting for approximately 44% of revenues or more in recent years. The North America region has a mature healthcare infrastructure, high per-capita healthcare spending, a high adoption rate of advanced imaging technologies, and favourable reimbursement environment. Hospitals and diagnostic centres in the United States routinely replace older ultrasound units, which creates a demand for upgrades and new premium systems.

Innovations in technology, such as merged AI technologies, handheld systems, and imaging with superior resolution, are eagerly adopted in North America. Oversight on health care technology in the region is consistent, which tends to speed up the implementation of cleared systems. The North America region will remain the leader in market volume and value, due to its existing sizeable installed base, as well as the ongoing action to address needs for point-of-care and remote diagnostic.

The Asia-Pacific region is poised to be the fastest-growing market for ultrasound devices, with more abounding forecasted growth than any other region. The market growth is due to the rapid expansion of the healthcare infrastructure, growing patient demand in populous countries, like China and India, increased investment in healthcare, and imaging technology's increasing penetration into lower-tier cities and rural settings.

Domestic manufacturers in China and India are producing competitively priced ultrasound systems to facilitate adoption. In addition, Asia-Pacific public health initiatives and the deployment of telemedicine contribute to point-of-care ultrasound adoption. When facilities are looking for cost-effective diagnostics and chronic disease burden increases in the Asia-Pacific region, demand for ultrasound devices will increase.

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Segmental Insights:

By Product:

Diagnostic ultrasound devices make up the majority of the ultrasound market, generating over 84% of revenue in recent years. This is due to the large number of diagnostic applications available, such as obstetrics/gynaecology, cardiology, radiology, vascular and general imaging, as well as the existing infrastructure to support diagnostic ultrasound technologies. As a feature of ultrasound technology, diagnostic devices have already benefitted from economies of scale, workflows, and familiarity with clinical usage trends, leading to stable adoption in hospitals and imaging centres.

While the therapeutic ultrasound segment makes up a smaller percentage of the ultrasound market, it is expected to grow at the highest compound annual growth rate. The highly anticipated growth of this segment is due to the increasing acceptance of ultrasound for treatment applications such as high-intensity focused ultrasound (HIFU), extracorporeal shockwave lithotripsy, and the experience and familiarity from other non-invasive treatment options. Anticipated growth also relies on additional clinical data and regulatory clearance for therapeutic ultrasound technologies, leading hospitals and specialised centres to invest in therapeutic ultrasound technologies. The ongoing expansion of oncology, musculoskeletal, aesthetic, and neurology applications has all contributed to the fastest-growing product segment, therapeutic ultrasound.

By Portability:

Cart or trolley-based ultrasound devices have traditionally accounted for the largest market share. These units are highly employed in hospital imaging departments, intensive care units and radiology suites, where clinicians appreciate high-end image quality, multiple probe compatibility and omni-functional workflows. The mobility of a wheeled cart allows clinicians to bring the system to the ICU bed, operating room or emergency department, contributing to its market share. Cart or trolley-based ultrasound systems tend to support advanced features (3D/4D, doppler, elastography) and are more suited to multi-discipline diagnostic imaging settings -providing another driver of its steady market share growth.

Handheld ultrasound systems are projected to achieve the fasted growth potential of the portable categories. Their market potential is based on low cost, portability, and ability to support point-of-care use in emergency medical protocols, rural clinics/practices, ambulances, or patient homes. Companies are continuing to add smartphone connectivity, wireless probes and AI-based assistance which create low barrier deployment, providing new use-case opportunities. With the trend of healthcare moving toward decentralised diagnostics, and tele-medicine, it is reasonable to consider that portable ultrasound handheld systems is the fastest rate of growth of all portable ultrasound systems.

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By Application:

The radiology application segment continues to hold the largest share of the ultrasound market in 2024. In terms of clinical application, radiology is the largest application segment in the ultrasound market, accounting for the highest revenue in recent years. Factors contributing to this segment’s leadership position consist of ultrasound's use in general imaging, vascular, abdominal, musculoskeletal and organ-specific screening all within the radiology department. Radiology departments continue to establish workflows, hire experienced sonographers, purchase high-end systems which encourages their upgrades and purchase activity consistency. Radiology applications also benefit from integration of artificial intelligence for image interpretation and workflow-automation, which further strengthens this application’s leading position.

The obstetrics/gynaecology (OB/GYN) application segment is forecasting the strongest growth among the application segments due to demand for prenatal screening, foetal monitoring and 3D/4D imaging of the foetus, as well as increased birth-care services in growing markets. Additionally, advances in technology such as handheld OB ultrasound, AI-guided foetal measurement, and portable ultrasound for low-resource settings are driving rapid adoption. These trends will continue to increase interest in this area as there is a global effort to ensure maternal health is prioritized and OB/GYN ultrasound applications will continue to grow, making it the fastest growing application segment.

By End-user:

Within the category of end-use, hospitals will remain the largest segment holding the greatest share of ultrasound device installations. Hospitals have the greatest volume of patient throughput, the most specialties (radiology, cardiology, OB/GYN, emergency), and require more full-feature devices. Hospitals also have the budgets, infrastructure, and workflows to adopt new technologies and replace existing systems. Given the crucial role of hospitals as a diagnostic and healthcare delivery location, hospitals will continue to hold the largest share of ultrasound device demand.

Imaging centres, along with all outpatient diagnostic and imaging clinics, are projected to grow the fastest of all end use segments. As healthcare continues to shift toward outpatient and ambulatory care, imaging centres are offering cost-effective diagnostics, faster access, and more flexibility outside hospitals for patients and providers alike. Imaging centres are increasingly adopting ultrasound devices, particularly portable ultrasound devices and handheld systems, to enhance service offerings and improve turnaround times. The continued trend pushed by healthcare services to decentralized imaging, telemedicine, and mobile diagnostics benefits imaging centres, supporting their rapid growth and market share.

Browse More Insights of Towards Healthcare:

The global 3D ultrasound market was valued at USD 4.29 billion in 2024, increasing to USD 4.74 billion in 2025, and is anticipated to reach around USD 11.55 billion by 2034, expanding at a CAGR of 10.44% from 2025 to 2034.

The global ultrasound image analysis software market was valued at USD 1.01 billion in 2024, rising to USD 1.1 billion in 2025, and is expected to hit approximately USD 2.28 billion by 2034, registering a CAGR of 8.41% during the forecast period.

The global portable ultrasound market reached USD 2.35 billion in 2024 and is projected to grow to USD 2.56 billion in 2025, eventually attaining USD 5.53 billion by 2034, expanding at a CAGR of 8.94% between 2025 and 2034.

The global medical AI-assisted ultrasound system market was valued at USD 3.25 billion in 2024, increasing to USD 3.53 billion in 2025, and is expected to achieve USD 7.42 billion by 2034, growing at a CAGR of 8.64% over the forecast period.

The global intravascular ultrasound (IVUS) and optical coherence tomography (OCT) market is witnessing robust growth, with revenues projected to rise substantially and reach several hundred million dollars by 2034.

The global veterinary ultrasound system market was valued at USD 400 million in 2023 and is forecasted to grow to USD 845.41 million by 2034, progressing at a CAGR of 7.04% from 2024 to 2034.

Recent Developments:

On April 25, 2025, Royal Philips launched its AI-enabled “Elevate Platform” upgrade on its EPIQ Elite ultrasound imaging platform in India, incorporating advanced automation features such as auto brightness/uniformity and liver-elastography (Auto ElasQ).

Ultrasound Market Key Players List:

Zimmer MedizinSysteme GmbH
General Electric Healthcare
Fujifilm Corporation
Hitachi, Ltd.
Mindray Medical International Limited.
Samsung Healthcare
Siemens Healthineers AG
Koninklijke Philips N.V.
Canon Inc.
ESAOTE SPA

Segments Covered in the Report

By Product

Diagnostic Ultrasound Devices
- 2D
- 3D/4D
- Doppler
Therapeutic Ultrasound Devices
- High-intensity Focused Ultrasound
- Extracorporeal Shockwave Lithotripsy

By Portability

Cart/Trolley
- Point-of-Care Cart/Trolley-Based Ultrasound
- Higher-end Cart/Trolley-Based Ultrasound
Handheld
Compact

By Application

Cardiology
Obstetrics/Gynaecology
Radiology
Orthopaedic
Anesthesia
Emergency Medicine
Primary Care
Critical Care

By End-use

Hospitals
Imaging Centres
Research Centres

By Region

North America
- U.S.
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- Denmark
- Norway
Latin America
- Brazil
- Mexico
- Argentina
Middle East and Africa (MEA)
- South Africa
- UAE
- Saudi Arabia
- Kuwait

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