The new report by Expert Market Research titled, ‘Global Ultrasound Transducer Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global ultrasound transducer market, assessing the market based on its segments like technology, type, end use 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.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 3.8 Billion
- Forecast CAGR (2021-2026): 5%
The increased demand for minimally invasive treatments, as well as the rising frequency of cardiovascular, respiratory, and abdominal illnesses, are driving the market’s expansion. Furthermore, the expanding target patient pool, together with technical advancements connected with transducers, will drive market revenue growth. Furthermore, an expanding chronic illness population, increased knowledge about early diagnosis, and an increase in the number of ultrasound diagnostic imaging operations are some of the factors driving the growth of the ultrasound transducer market.
Industry Definition and Major Segments
The ultrasound technology with the help of transducers transfer the ultrasound waves and transmit the images with echoes in the machine. These are used for diagnostic purposes such as monitoring of cardiac, abdominal, cerebrovascular, gynecological, and urological.
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By technology, the market is divided into:
- Ultrasonic Medical Technology
- Ultrasonic Processing Technology
- Ultrasonic Testing Technology
By type, the market is divided into:
- Ultrasonic Proximity Sensor
- Ultrasonic Retro-reflective Sensor
- Ultrasonic Through-beam Sensor
By end use, the market is divided into:
- Automotive
- Food and Beverage
- Medical and Healthcare
- Aerospace and Defense
- Industrial
By end use, the market is divided into:
- Oil and Gas
- Electricity
- Government and Public Safety
- Construction
- Telecommunication
The global regions for rapid self-healing gel market include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The rising frequency of product launches is expected to propel the ultrasound transducer market. The growing use of ultrasound machines in medical imaging of different circumstances and the introduction of developed transducers are some of the critical drivers of the industry. However, the high cost of the ultrasound product is the only constraint of ultrasound transducer market. Furthermore, high efficiency and safety associated with ultrasound machines led to increasing usage among end-user and the introduction of novel devices such as Silicon Wave L38-22 linear array transducer and EPIQ Elite ultrasound system will create a demand and drive the overall market in the forecasted period.
Key Market Players
The major players in the market are Siemens AG, Honeywell International Inc., Rockwell Automation, Inc., Murata Manufacturing Co. Ltd, Omron Corporation, Sick AG, Banner Engineering Corp among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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