The Business Research Company's Ultrasonic Technology Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The Business Research Company's Ultrasonic Technology Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

LONDON, GREATER LONDON, UK, November 15, 2023 /EINPresswire.com/ -- The global ultrasonic technology market has witnessed significant segmentation, delineating its landscape based on type, technology, application, and end-user. As of 2023, the market size has expanded from $1.86 billion in 2022 to $2.1 billion, exhibiting a robust Compound Annual Growth Rate (CAGR) of 13.0%.the market is anticipated to continue its growth trajectory, reaching an estimated $3.3 billion by 2027, with a CAGR of 12.0%.

Growing Demand from the Medical Sector
The healthcare sector plays a pivotal role in propelling the ultrasonic technology market forward. The use of ultrasonic technology in medicine, particularly in ultrasound imaging (sonography), has become integral. This technology is employed for non-destructive testing to detect unseen faults in products and structures. As global healthcare spending is anticipated to reach $10 trillion by 2022, the demand for ultrasonic technology is set to increase. Major players such as GE Healthcare, Philips, and Siemens Healthineers are positioned to capitalize on this growing trend.

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Major Players and Industry Landscape
Key players dominating the ultrasonic technology market include industry giants like GE Healthcare, Philips, Olympus Corporation, Siemens Healthineers, and Hitachi. The market is highly competitive, with companies focusing on innovation to maintain their market share. For instance, the integration of artificial intelligence has emerged as a key trend, with companies like GE Healthcare launching AI-based ultrasound systems, showcasing advancements in the field.

Trends Shaping the Market
The integration of artificial intelligence (AI) stands out as a prominent trend in the ultrasonic technology market. Major companies are actively incorporating AI into ultrasonic devices to enhance their capabilities. For instance, GE Healthcare's Voluson SWIFT, a Women’s Health ultrasound system, incorporates Intelligent Ultrasound's ScanNav Assist AI technology, marking a significant leap in intelligent ultrasound solutions.

Regional Insights: Asia-Pacific Takes the Lead
Asia-Pacific emerged as the largest region in the ultrasonic technology market in 2022 and is expected to maintain its leadership position. The global ultrasonic technology market analysis report covers regions such as Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, providing comprehensive insights into regional dynamics and growth opportunities.

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Ultrasonic Technology Global Market Report 2023from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries:Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
TheUltrasonic Technology Global Market Report 2023byThe Business Research Company is the most comprehensive report that provides insights on ultrasonic technology market size, ultrasonic technology market drivers and trends, ultrasonic technology market major players, competitors' revenues, market positioning, and market growth across geographies.The ultrasonic technology market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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