Get more information on Ultrasound Equipment Market - Request Free Sample Report
The ultrasound equipment market size was valued at USD 9.47 billion in 2023, and is expected to reach USD 15.22 billion by 2032, and grow at a CAGR of 5.43% over the forecast period 2024-2032.
Ultrasound equipment has become an indispensable tool in modern healthcare. Its non-invasive nature, real-time imaging capabilities, and versatility have driven significant demand across various medical specialties.
The ultrasound equipment market is experiencing robust growth driven by the increasing prevalence of chronic diseases, aging populations, and technological advancements. The demand for accurate and efficient diagnostic tools is propelling the adoption of ultrasound systems across healthcare settings.
The rising incidence of cardiovascular diseases, cancer, and other conditions requiring regular monitoring is a key driver of ultrasound equipment demand. Additionally, the growing preference for non-invasive procedures and the expanding application of ultrasound in point-of-care settings are contributing to market growth. According to the World Heart Federation, over half a billion people worldwide are affected by this condition. In 2021 alone, CVDs claimed a staggering 20.5 million lives, representing nearly one-third of global deaths. This marks a dramatic 60% increase compared to 1990, underscoring the urgent need for effective prevention and treatment strategies. With an estimated 20 million new cases and 9.7 million deaths in 2022 alone, cancer remains a leading cause of mortality worldwide. These staggering statistics highlight the critical need for early detection and effective treatment strategies, underscoring the vital role of diagnostic tools like ultrasound equipment in combating this disease.
The ultrasound equipment market is characterized by a competitive landscape with several major players offering a wide range of products. Technological innovation and product differentiation are crucial for gaining a competitive edge.
Governments worldwide are investing in healthcare infrastructure and promoting preventive care, which is driving the demand for medical imaging equipment, including ultrasound systems. Initiatives to improve healthcare access in rural and underserved areas are also creating opportunities for ultrasound equipment providers.
Advancements in ultrasound technology, such as AI integration, 3D/4D imaging, and portable devices, are reshaping the market. The integration of ultrasound with other imaging modalities and the development of specialized ultrasound systems for specific applications are emerging trends. The integration of artificial intelligence (AI) is revolutionizing image analysis, enabling faster and more accurate diagnosis. AI-powered systems can automatically recognize and analyze musculoskeletal abnormalities, improving diagnostic precision and efficiency.
A significant leap in ultrasound technology was achieved in February 2023 with the FDA approval of Clarius Mobile Health's HD3 device. This third-generation ultrasound system incorporates artificial intelligence to rapidly identify and measure tendon structures in the foot, ankle, and knee. By automating these tasks, the technology accelerates injury diagnosis and treatment, demonstrating the potential of AI to revolutionize musculoskeletal imaging.
Moreover, advancements such as high-frequency ultrasound and elastography are enhancing image quality, providing more detailed anatomical information, and enabling quantitative analysis. These technological breakthroughs are expanding the diagnostic capabilities of ultrasound and increasing its clinical utility.
Overall, the ultrasound equipment market is expected to continue its growth trajectory, driven by favorable demographic trends, technological advancements, and increasing healthcare spending.
Market Dynamics
Drivers
Rising Prevalence of Chronic Diseases
The increasing incidence of conditions like heart disease, diabetes, and cancer necessitates regular monitoring and diagnosis, which heavily relies on ultrasound imaging.
The prevalence of chronic diseases in the United States is at epidemic levels. Over 129 million Americans grapple with at least one chronic condition, with many managing multiple diseases simultaneously. These conditions, including heart disease, cancer, diabetes and obesity, account for a significant portion of the nation's leading causes of death and disability.
The escalating burden of chronic illness has placed immense pressure on the healthcare system. Approximately 90% of total healthcare expenditures are dedicated to managing chronic diseases, underscoring the urgent need for effective diagnostic tools and monitoring solutions.
Aging Population
As the global population ages, the demand for diagnostic imaging, including ultrasound, increases due to the higher prevalence of age-related health issues.
Advancements in Ultrasound Technology
Continuous technological innovations are enhancing the capabilities of ultrasound machines, making them more accurate, efficient, and versatile, thereby expanding their applications.
Increasing Preference for Non-Invasive Procedures
Ultrasound is a non-invasive imaging technique, making it a preferred choice for patients and healthcare providers.
Growth of Point-of-Care Ultrasound
Portable ultrasound devices are gaining popularity for use in various settings, such as emergency departments, critical care units, and outpatient clinics.
Restraints
Product Recalls and Technician Shortages
Product recalls initiated by regulatory bodies due to safety concerns or performance issues can damage brand reputation and erode consumer confidence. For instance, Koninklijke Philips N.V.'s recall of the Sparq ultrasound device in 2021 due to battery issues exemplifies this risk.
Furthermore, a shortage of trained technicians, particularly prevalent in regions like Australia, the U.K., and Canada, poses a significant obstacle to market expansion. The inability to find qualified personnel to operate and maintain ultrasound equipment limits the adoption of these systems, impacting overall market growth.
Key Segmentation
By Product
Table-top dominated the market with 62% share in 2023 due to their widespread adoption in hospitals and clinics for a variety of diagnostic imaging procedures. The extensive installation base, as evidenced by over 130,000 table-top units installed globally by ESAOTE SPA alone, underscores this segment's dominance.
However, the compact segment is emerging as the fastest-growing category. Advancements in technology, coupled with the introduction of innovative handheld devices like Mindray Bio-Medical's TE Air and GE Healthcare's Vscan Air, are driving this rapid expansion. The portability, ease of use, and ability to perform point-of-care ultrasounds are key factors propelling the adoption of compact systems.
Get Customized Report as per your Business Requirement - Request For Customized Report
By Application
Radiology emerged as the dominated segment in 2023 with 43% market share. The increasing number of radiology centers and the widespread use of ultrasound for general imaging and diagnosing medical complications have contributed to this segment's leadership. As highlighted by a study from Poland, the high volume of ultrasound examinations in radiology departments underscores the segment's importance.
The gynecology segment is anticipated to experience the fastest growth. The rising prevalence of gynecological disorders, coupled with technological advancements in ultrasound equipment, is driving demand for advanced diagnostic systems in this area.
By End User
Hospitals dominated the market with 72% share in 2023 due to higher patient admissions, well-established infrastructure, and a large volume of ultrasound procedures performed annually. For instance, the U.S. alone reported millions of patient admissions and hundreds of millions of ultrasound scans in a single year.
However, the clinics segment is poised for rapid growth. The increasing adoption of portable and point-of-care ultrasound systems, coupled with rising patient numbers seeking imaging services, is driving this expansion. The convenience and cost-effectiveness of these systems are making them increasingly popular in clinic settings.
Regional Analysis
The Asia Pacific region dominated the ultrasound equipment market with 47% share in 2023, bolstered by high sales volumes and cost-effective manufacturing hubs like China. Companies such as CHISON Medical Technologies have significantly contributed to this growth, with a substantial portion of their revenue derived from overseas markets.
North America, while holding the second-largest market share, is a hub for technological advancements and new product launches. The COVID-19 pandemic accelerated innovation in the region, as evidenced by the introduction of advanced point-of-care ultrasound systems like Mindray Medical's TE7 Max.
Europe is another key market, driven by an aging population grappling with chronic diseases and a well-established healthcare infrastructure. The region's high prevalence of diabetes further fuels the demand for diagnostic imaging tools like ultrasound.
The major players are GE Healthcare, Hitachi, Siemens Healthcare, Samsung Medison, Esaote, Canon Medical Systems Corporation, and other players
January 2024: GE Healthcare launched its new LOGIQ E10 Series, an advanced ultrasound system featuring artificial intelligence (AI)-driven image analysis to improve diagnostic accuracy and efficiency.
March 2024: Siemens Healthineers introduced the ACUSON Sequoia Crown Edition, which offers enhanced imaging capabilities and integrated cloud services for better data management and collaboration.
June 2024: Canon Medical Systems unveiled its Aplio i-series Prism Edition, designed with cutting-edge elastography and Doppler imaging technologies to provide superior performance in vascular and liver diagnostics.
Report Attributes | Details |
Market Size in 2023 | US$ 9.47 Bn |
Market Size by 2032 | US$ 15.22 Bn |
CAGR | CAGR of 5.43% From 2024 to 2032 |
Base Year | 2023 |
Forecast Period | 2024-2032 |
Historical Data | 2020-2022 |
Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
Key Segments | • By Product (Compact, Table-Top) • By Application (Radiology, Cardiology, Surgery, Point of Care) • By End User (Hospitals, Clinics) |
Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Company Profiles | GE Healthcare, Hitachi, Siemens healthcare, Samsung Medison, Esaote, Canon Medical Systems Corporation |
Key Drivers |
• Rising Prevalence of Chronic Diseases • Aging Population • Advancements in Ultrasound Technology • Increasing Preference for Non-Invasive Procedures • Growth of Point-of-Care Ultrasound |
Market Restraints | • Product Recalls and Technician Shortages |
Ans: The Ultrasound Equipment Market is expected to grow at a CAGR of 5.43%.
Ans: The Ultrasound Equipment Market size was valued at USD 9.47 Bn in 2023 and is expected to reach USD 15.22 Bn by 2032 and grow at a CAGR of 5.43% over the forecast period of 2024-2032.
Ans: The benefits associated with the ultrasound equipment.
Ans: The limited access in certain cases.
Ans: North America overtook other regional markets as the largest market for Ultrasound Equipment, with the highest revenue share.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Ultrasound Equipment Market Segmentation, by Product
7.1 Introduction
7.2 Compact
7.3 Table-top
8. Ultrasound Equipment Market Segmentation, by Application
8.1 Introduction
8.2 Radiology
8.3 Gynecology
8.4 Cardiology
8.5 Point of Care
8.6 Urology
8.7 Surgery
8.8 Others
9. Ultrasound Equipment Market Segmentation, by End User
9.1 Introduction
9.2 Hospitals
9.3 Clinics
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 Trend Analysis
10.2.2 North America Ultrasound Equipment Market by Country
10.2.3 North America Ultrasound Equipment Market by Product
10.2.4 North America Ultrasound Equipment Market by Application
10.2.5 North America Ultrasound Equipment Market by End User
10.2.6 USA
10.2.6.1 USA Ultrasound Equipment Market by Product
10.2.6.2 USA Ultrasound Equipment Market by Application
10.2.6.3 USA Ultrasound Equipment Market by End User
10.2.7 Canada
10.2.7.1 Canada Ultrasound Equipment Market by Product
10.2.7.2 Canada Ultrasound Equipment Market by Application
10.2.7.3 Canada Ultrasound Equipment Market by End User
10.2.8 Mexico
10.2.8.1 Mexico Ultrasound Equipment Market by Product
10.2.8.2 Mexico Ultrasound Equipment Market by Application
10.2.8.3 Mexico Ultrasound Equipment Market by End User
10.3 Europe
10.3.1 Trend Analysis
10.3.2 Eastern Europe
10.3.2.1 Eastern Europe Ultrasound Equipment Market by Country
10.3.2.2 Eastern Europe Ultrasound Equipment Market by Product
10.3.2.3 Eastern Europe Ultrasound Equipment Market by Application
10.3.2.4 Eastern Europe Ultrasound Equipment Market by End User
10.3.2.5 Poland
10.3.2.5.1 Poland Ultrasound Equipment Market by Product
10.3.2.5.2 Poland Ultrasound Equipment Market by Application
10.3.2.5.3 Poland Ultrasound Equipment Market by End User
10.3.2.6 Romania
10.3.2.6.1 Romania Ultrasound Equipment Market by Product
10.3.2.6.2 Romania Ultrasound Equipment Market by Application
10.3.2.6.4 Romania Ultrasound Equipment Market by End User
10.3.2.7 Hungary
10.3.2.7.1 Hungary Ultrasound Equipment Market by Product
10.3.2.7.2 Hungary Ultrasound Equipment Market by Application
10.3.2.7.3 Hungary Ultrasound Equipment Market by End User
10.3.2.8 Turkey
10.3.2.8.1 Turkey Ultrasound Equipment Market by Product
10.3.2.8.2 Turkey Ultrasound Equipment Market by Application
10.3.2.8.3 Turkey Ultrasound Equipment Market by End User
10.3.2.9 Rest of Eastern Europe
10.3.2.9.1 Rest of Eastern Europe Ultrasound Equipment Market by Product
10.3.2.9.2 Rest of Eastern Europe Ultrasound Equipment Market by Application
10.3.2.9.3 Rest of Eastern Europe Ultrasound Equipment Market by End User
10.3.3 Western Europe
10.3.3.1 Western Europe Ultrasound Equipment Market by Country
10.3.3.2 Western Europe Ultrasound Equipment Market by Product
10.3.3.3 Western Europe Ultrasound Equipment Market by Application
10.3.3.4 Western Europe Ultrasound Equipment Market by End User
10.3.3.5 Germany
10.3.3.5.1 Germany Ultrasound Equipment Market by Product
10.3.3.5.2 Germany Ultrasound Equipment Market by Application
10.3.3.5.3 Germany Ultrasound Equipment Market by End User
10.3.3.6 France
10.3.3.6.1 France Ultrasound Equipment Market by Product
10.3.3.6.2 France Ultrasound Equipment Market by Application
10.3.3.6.3 France Ultrasound Equipment Market by End User
10.3.3.7 UK
10.3.3.7.1 UK Ultrasound Equipment Market by Product
10.3.3.7.2 UK Ultrasound Equipment Market by Application
10.3.3.7.3 UK Ultrasound Equipment Market by End User
10.3.3.8 Italy
10.3.3.8.1 Italy Ultrasound Equipment Market by Product
10.3.3.8.2 Italy Ultrasound Equipment Market by Application
10.3.3.8.3 Italy Ultrasound Equipment Market by End User
10.3.3.9 Spain
10.3.3.9.1 Spain Ultrasound Equipment Market by Product
10.3.3.9.2 Spain Ultrasound Equipment Market by Application
10.3.3.9.3 Spain Ultrasound Equipment Market by End User
10.3.3.10 Netherlands
10.3.3.10.1 Netherlands Ultrasound Equipment Market by Product
10.3.3.10.2 Netherlands Ultrasound Equipment Market by Application
10.3.3.10.3 Netherlands Ultrasound Equipment Market by End User
10.3.3.11 Switzerland
10.3.3.11.1 Switzerland Ultrasound Equipment Market by Product
10.3.3.11.2 Switzerland Ultrasound Equipment Market by Application
10.3.3.11.3 Switzerland Ultrasound Equipment Market by End User
10.3.3.12 Austria
10.3.3.12.1 Austria Ultrasound Equipment Market by Product
10.3.3.12.2 Austria Ultrasound Equipment Market by Application
10.3.3.12.3 Austria Ultrasound Equipment Market by End User
10.3.3.13 Rest of Western Europe
10.3.3.13.1 Rest of Western Europe Ultrasound Equipment Market by Product
10.3.3.13.2 Rest of Western Europe Ultrasound Equipment Market by Application
10.3.3.13.3 Rest of Western Europe Ultrasound Equipment Market by End User
10.4 Asia-Pacific
10.4.1 Trend Analysis
10.4.2 Asia-Pacific Ultrasound Equipment Market by Country
10.4.3 Asia-Pacific Ultrasound Equipment Market by Product
10.4.4 Asia-Pacific Ultrasound Equipment Market by Application
10.4.5 Asia-Pacific Ultrasound Equipment Market by End User
10.4.6 China
10.4.6.1 China Ultrasound Equipment Market by Product
10.4.6.2 China Ultrasound Equipment Market by Application
10.4.6.3 China Ultrasound Equipment Market by End User
10.4.7 India
10.4.7.1 India Ultrasound Equipment Market by Product
10.4.7.2 India Ultrasound Equipment Market by Application
10.4.7.3 India Ultrasound Equipment Market by End User
10.4.8 Japan
10.4.8.1 Japan Ultrasound Equipment Market by Product
10.4.8.2 Japan Ultrasound Equipment Market by Application
10.4.8.3 Japan Ultrasound Equipment Market by End User
10.4.9 South Korea
10.4.9.1 South Korea Ultrasound Equipment Market by Product
10.4.9.2 South Korea Ultrasound Equipment Market by Application
10.4.9.3 South Korea Ultrasound Equipment Market by End User
10.4.10 Vietnam
10.4.10.1 Vietnam Ultrasound Equipment Market by Product
10.4.10.2 Vietnam Ultrasound Equipment Market by Application
10.4.10.3 Vietnam Ultrasound Equipment Market by End User
10.4.11 Singapore
10.4.11.1 Singapore Ultrasound Equipment Market by Product
10.4.11.2 Singapore Ultrasound Equipment Market by Application
10.4.11.3 Singapore Ultrasound Equipment Market by End User
10.4.12 Australia
10.4.12.1 Australia Ultrasound Equipment Market by Product
10.4.12.2 Australia Ultrasound Equipment Market by Application
10.4.12.3 Australia Ultrasound Equipment Market by End User
10.4.13 Rest of Asia-Pacific
10.4.13.1 Rest of Asia-Pacific Ultrasound Equipment Market by Product
10.4.13.2 Rest of Asia-Pacific Ultrasound Equipment Market by Application
10.4.13.3 Rest of Asia-Pacific Ultrasound Equipment Market by End User
10.5 Middle East & Africa
10.5.1 Trend Analysis
10.5.2 Middle East
10.5.2.1 Middle East Ultrasound Equipment Market by Country
10.5.2.2 Middle East Ultrasound Equipment Market by Product
10.5.2.3 Middle East Ultrasound Equipment Market by Application
10.5.2.4 Middle East Ultrasound Equipment Market by End User
10.5.2.5 UAE
10.5.2.5.1 UAE Ultrasound Equipment Market by Product
10.5.2.5.2 UAE Ultrasound Equipment Market by Application
10.5.2.5.3 UAE Ultrasound Equipment Market by End User
10.5.2.6 Egypt
10.5.2.6.1 Egypt Ultrasound Equipment Market by Product
10.5.2.6.2 Egypt Ultrasound Equipment Market by Application
10.5.2.6.3 Egypt Ultrasound Equipment Market by End User
10.5.2.7 Saudi Arabia
10.5.2.7.1 Saudi Arabia Ultrasound Equipment Market by Product
10.5.2.7.2 Saudi Arabia Ultrasound Equipment Market by Application
10.5.2.7.3 Saudi Arabia Ultrasound Equipment Market by End User
10.5.2.8 Qatar
10.5.2.8.1 Qatar Ultrasound Equipment Market by Product
10.5.2.8.2 Qatar Ultrasound Equipment Market by Application
10.5.2.8.3 Qatar Ultrasound Equipment Market by End User
10.5.2.9 Rest of Middle East
10.5.2.9.1 Rest of Middle East Ultrasound Equipment Market by Product
10.5.2.9.2 Rest of Middle East Ultrasound Equipment Market by Application
10.5.2.9.3 Rest of Middle East Ultrasound Equipment Market by End User
10.5.3 Africa
10.5.3.1 Africa Ultrasound Equipment Market by Country
10.5.3.2 Africa Ultrasound Equipment Market by Product
10.5.3.3 Africa Ultrasound Equipment Market by Application
10.5.3.4 Africa Ultrasound Equipment Market by End User
10.5.3.5 Nigeria
10.5.3.5.1 Nigeria Ultrasound Equipment Market by Product
10.5.3.5.2 Nigeria Ultrasound Equipment Market by Application
10.5.3.5.3 Nigeria Ultrasound Equipment Market by End User
10.5.3.6 South Africa
10.5.3.6.1 South Africa Ultrasound Equipment Market by Product
10.5.3.6.2 South Africa Ultrasound Equipment Market by Application
10.5.3.6.3 South Africa Ultrasound Equipment Market by End User
10.5.3.7 Rest of Africa
10.5.3.7.1 Rest of Africa Ultrasound Equipment Market by Product
10.5.3.7.2 Rest of Africa Ultrasound Equipment Market by Application
10.5.3.7.3 Rest of Africa Ultrasound Equipment Market by End User
10.6 Latin America
10.6.1 Trend Analysis
10.6.2 Latin America Ultrasound Equipment Market by country
10.6.3 Latin America Ultrasound Equipment Market by Product
10.6.4 Latin America Ultrasound Equipment Market by Application
10.6.5 Latin America Ultrasound Equipment Market by End User
10.6.6 Brazil
10.6.6.1 Brazil Ultrasound Equipment Market by Product
10.6.6.2 Brazil Ultrasound Equipment Market by Application
10.6.6.3 Brazil Ultrasound Equipment Market by End User
10.6.7 Argentina
10.6.7.1 Argentina Ultrasound Equipment Market by Product
10.6.7.2 Argentina Ultrasound Equipment Market by Application
10.6.7.3 Argentina Ultrasound Equipment Market by End User
10.6.8 Colombia
10.6.8.1 Colombia Ultrasound Equipment Market by Product
10.6.8.2 Colombia Ultrasound Equipment Market by Application
10.6.8.3 Colombia Ultrasound Equipment Market by End User
10.6.9 Rest of Latin America
10.6.9.1 Rest of Latin America Ultrasound Equipment Market by Product
10.6.9.2 Rest of Latin America Ultrasound Equipment Market by Application
10.6.9.3 Rest of Latin America Ultrasound Equipment Market by End User
11. Company Profiles
11.1 GE Healthcare
11.1.1 Company Overview
11.1.2 Financial
11.1.3 Products/ Services Offered
11.1.4 The SNS View
11.2 Hitachi
11.2.1 Company Overview
11.2.2 Financial
11.2.3 Products/ Services Offered
11.2.4 The SNS View
11.3 Siemens Healthcare
11.3.1 Company Overview
11.3.2 Financial
11.3.3 Products/ Services Offered
11.3.4 The SNS View
11.4 Samsung Medison
11.4.1 Company Overview
11.4.2 Financial
11.4.3 Products/ Services Offered
11.4.4 The SNS View
11.5 Esaote
11.5.1 Company Overview
11.5.2 Financial
11.5.3 Products/ Services Offered
11.5.4 The SNS View
11.6 Canon Medical Systems Corporation
11.6.1 Company Overview
11.6.2 Financial
11.6.3 Products/ Services Offered
11.6.4 The SNS View
11.7 Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
11.7.1 Company Overview
11.7.2 Financial
11.7.3 Products/ Services Offered
11.7.4 The SNS View
11.8 Hitachi
11.8.1 Company Overview
11.8.2 Financial
11.8.3 Products/ Services Offered
11.8.4 The SNS View
11.9 Samsung Medison Co., Ltd.
11.9.1 Company Overview
11.9.2 Financial
11.9.3 Products/ Services Offered
11.9.4 The SNS View
11.10 Koninklijke Philips N.V.
11.10.1 Company Overview
11.10.2 Financial
11.10.3 Products/ Services Offered
11.10.4 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. Use Case and Best Practices
14. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
Key Segments:
By Product
Compact
Table-top
By Application
Radiology
Gynecology
Cardiology
Point of Care
Urology
Surgery
Others
By End User
Hospitals
Clinics
Request for Segment Customization as per your Business Requirement: Segment Customization Request
Regional Coverage:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Request for Country Level Research Report: Country Level Customization Request
Available Customization
With the given market data, SNS Insider offers customization as per the company’s specific needs. The following customization options are available for the report:
Product Analysis
Criss-Cross segment analysis (e.g. Product X Application)
Product Matrix which gives a detailed comparison of product portfolio of each company
Geographic Analysis
Additional countries in any of the regions
Company Information
Detailed analysis and profiling of additional market players (Up to five)
The Omega-3 Fatty Acid Market Size was valued at USD 2.5 billion in 2023 and is expected to reach USD 4.8 billion by 2032, and grow at a CAGR of 7.4% over the forecast period 2024-2032.
The Dental Bone Grafts and Substitutes Market was valued at USD 755.70 million in 2023, and it is predicted to reach 1463.23 million in 2031 at a CAGR of 8.61% from 2024 to 2031.
The Point-of-care Ultrasound Market size was USD 4.03 billion in 2023 and is expected to Reach USD 7.47 Billion by 2032 and grow at a CAGR of 7.11% over the forecast period of 2024-2032.
The Care Management Solutions Market Size was valued at USD 13.04 billion in 2023 and is expected to reach USD 38.31 billion by 2031, and grow at a CAGR of 14.42% over the forecast period 2024-2031.
The U.S. Pharmacy Benefit Management Market was valued at USD 432.30 billion in 2023 and is expected to reach USD 947.90 billion by 2032 and grow at a CAGR of 9.13% over the forecast period 2024-2032.
The Podiatry Chairs Market was worth USD 1.08 billion in 2023 and is predicted to be worth USD 2.06 billion by 2032, growing at a CAGR of 7.46 % between 2024 and 2032.
Hi! Click one of our member below to chat on Phone