Summary

Overview
Asia Pacific ultrasound devices market reached US$ XX million in 2023 and is expected to reach US$ XX million by 2031, growing at a CAGR of XX% during the forecast period 2024-2031.
Ultrasound is one of many medical imaging modalities available on the market. An ultrasound device employs high-frequency sound waves to see the body's interior organs. An ultrasound system includes a probe that sends high-frequency ultrasonic sound waves into the patient's body. The bodily organs then reflect these sound waves into the probe.
These transmitted waves are subsequently sent to a display system, which creates the picture via echoes. Ultrasound devices are used to see organs such as the liver, kidneys, blood arteries, heart, human fetus, and others.
The market is driven by factors due to technological progress, the emergence of major market participants, an aging population, and an increase in cancer cases. Ultrasound devices offer distinct echo patterns that distinguish fluid-filled cysts from solid tumors, thereby facilitating the visualization of certain soft tissue diseases.
Market Dynamics: Drivers & Restraints
Increasing healthcare expenditure and infrastructure development
The rising healthcare expenditure in many countries across the Asia Pacific region is leading to significant improvements in healthcare infrastructure. Governments and private sectors are investing in modern medical facilities, including advanced imaging technologies like ultrasound devices. The expansion of healthcare facilities is driving the demand for ultrasound devices across hospitals, clinics, and diagnostic centers.
Numerous healthcare experts and physicians have advised ultrasound examinations for a variety of diagnoses, which is increasing demand for ultrasound equipment. Doctors are requesting ultrasound technologies such as sonography machines to check the baby's development and anomalies. Ultrasound equipment is also used to diagnose urinary bladder, scrotal, prostatic, and kidney illness.
Asia Pacific has become a business-friendly and resilient hub due to relatively less stringent regulations and data requirements. The majority of players are shifting their attention to emerging countries as the U.S. and European economies mature.
The modernization of technology in emerging nations is greatly aided by the growing investments made in these nations by market participants. As an illustration, Conavi Medical Inc. signed finance agreements totaling US$ 20 million in December 2021 to assist the commercialization of its cutting-edge intravascular imaging guidance technology. Therefore, the rising potential of emerging economies supports the inclination toward CVDs diagnosis.
Asia Pacific ultrasound devices market is witnessing an increasing number of merger & acquisition (M&A) activities that are being undertaken by the prominent players. Several Asia Pacific ultrasound devices companies are adopting these strategies to upgrade their portfolio in the region. For instance, in August 2022, United Imaging Healthcare and Sunway Medical Centre announced their partnership. This partnership was aimed to optimize medical imaging products, leveraging AI-enabled reconstruction for diagnosis of cancer.
High cost of the Equipment
The tremendous cost strain on the healthcare industry is forcing the implementation of new healthcare compensation models. Key actors are attempting to shift their attention away from treatment-based compensation and toward value-based reimbursement. Digitalization and artificial intelligence will be critical facilitators for healthcare services.
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Segment Analysis
The Asia Pacific ultrasound devices market is segmented based on type, technology, and application.
3D and 4D ultrasound imaging segment is expected to dominate the market growth
3D and 4D ultrasound imaging are anticipated to hold a major position in the market share. This is expected due to the increasing number of products of MRI systems for diagnosis. There are further benefits of using real-time 3D ultrasonography to guide interventional operations. These gadgets allow users to view tissue organs in three dimensions in real-time.
Similar to a three-dimensional ultrasound, a four-dimensional ultrasound produces an image that is updated continuously, resembling a moving image. The market for 3D and 4D ultrasound imaging is anticipated to grow significantly over the forecast period due to significant technological advancements in the development of 3D and 4D ultrasound devices, favorable reimbursements, a wide range of applications, and additional benefits of the devices, like high definition (HD) motion and 3D and 4D visualizations.
In addition, major players in the industry launch new innovative products helping to propel the market growth. For instance, in June 2022, Mindray expanded its portfolio with a new innovative, dedicated OB/GYN ultrasound machine, the Imagyn I9.
The Imagyn I9 Ultrasound System is Mindray’s first dedicated OB/GYN product slated to meet the rigorous demands of OB/GYN practices. The new system has unique design elements that focus on usability and ergonomics within the OB/GYN space, including elevated transducer ports, a fully free-floating user interface, and customizable E-Ink keys.
COVID-19 Impact Analysis
COVID-19 has affected the market growth negatively. The demand for ultrasound equipment fell as the use of imaging systems fell due to a decline in the requirement for emergency treatment. On the other hand, the post-pandemic period is projected to put the market back on track.
COVID-19 is a fluid disease that can damage a variety of tissues and organs as it develops. As a result, the impact of the disease at all stages and organs necessitates a functional and versatile imaging technology capable of dynamically detecting particularities or abnormalities. Ultrasound devices meets all of these criteria and has various advantages over other imaging modalities, such as portability, affordability, and biosafety.
Throughout the COVID-19 epidemic, ultrasound devices performed a critical role in triage, monitoring, detecting organ damage, and allowing patients to make tailored therapy decisions. This review focuses on the primary pathogenic outcomes associated with COVID-19-induced ultrasound devices alterations in the lungs, heart, and liver.
Market Segmentation
By Type
- Stationary Ultrasound
- Portable Ultrasound
By Technology
- 2D Ultrasound Imaging
- 3D and 4D sound Imaging
- Doppler Imaging
- High-intensity Focused Ultrasound
By Application
- Anesthesiology
- Cardiology
- Gynecology/Obstetrics
- Musculoskeletal
- Radiology
- Critical care
- Others
Competitive Landscape
The major players in the Asia Pacific ultrasound devices market include GE Healthcare, Philips Healthcare, Samsung Medison, Fujifilm Holdings Corporation, Hitachi Healthcare, Siemens Healthineers, Canon Medical Systems Corporation, Esaote Asia Pacific, Chison Medical Technologies Co., Ltd among others.
Key Developments
- On February 5, 2024, , UltraSight, a digital health pioneer transforming cardiac imaging through the power of artificial intelligence, announced a partnership with SELVAS Healthcare a Korean-based global digital healthcare company with innovative technology in medical device manufacturing and software. This new joint venture kicks off the introduction of UltraSight's real-time AI guidance technology in Asia, beginning with the regulatory process for approvals that may lead to eventual commercialization and distribution in Korea and the Southeast Asian market.
- On November 28, 2023, the imaging giant is launched the new dynamic digital radiography and ultrasound point-of-care capabilities and is also presenting its latest research enhancing DDR with artificial intelligence.
- On September 7, 2023, Mindray, a global leader and developer of healthcare solutions and technologies in ultrasound, patient monitoring, and anesthesia, announced the launch of its TE Air Wireless Handheld Ultrasound, a new imaging solution that improves ultrasound accessibility.
- On March 25, 2022, Fujifilm India unveiled its new range of computed tomography (CT), magnetic resonance imaging (MRI), and ultrasound machines in India.
- On May 12, 2022, Philips announced the expansion of its Manufacturing and Research and Development Facility in Maharashtra, India. The unit houses MR radio frequency coil, mobile surgery systems, and ultrasound assembly businesses, among others.
- On March 1, 2022, Canon Medical Systems Corporation announced that it signed a deal for acquiring Nordisk Rontgen Teknik (NRT), a company with advanced technology and resources for manufacturing diagnostic X-ray systems.
- On February 1, 2022, Butterfly Network, Inc. and Ambra Health announced a collaboration to speed and simplify bedside imaging data exchange. This partnership will improve access to and shareability of valuable ultrasound information across hospitals and health systems, enhancing the scalability of Butterfly Blueprint, Butterfly's enterprise platform.
- On June 23, 2021, Wipro and GE Healthcare started the local manufacturing of its Versana Ultrasound range in India. This is a component of the business plan to increase localization and fortify the ecosystem of suppliers.
- On June1, 2021, Chinese medical device maker Mindray launches new diagnostic ultrasound system. Shenzhen-listed medical devices developer Mindray has introduced its latest imaging diagnostic ultrasound system called Resona I9. It is a general imaging ultrasound system with completely innovative features from inside out. All innovations are developed based on in-depth insights into complex clinical scenarios, providing accurate and timely answers as well as outstanding efficiency and a remarkable user experience.
Why Purchase the Report?
- To visualize the Asia Pacific ultrasound devices market segmentation based on type, technology and application as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of Asia Pacific ultrasound devices market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The Asia Pacific ultrasound devices market report would provide approximately 39 tables, 30 figures, and 173 pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies

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Table of Contents

1. Methodology and Scope
1.1. Research Methodology
1.2. Research Objective and Scope of the Report
2. Definition and Overview
3. Executive Summary
3.1. Snippet by Type
3.2. Snippet by Technology
3.3. Snippet by Application
4. Dynamics
4.1. Impacting Factors
4.1.1. Drivers
4.1.1.1. Increasing healthcare expenditure and infrastructure developments
4.1.1.2. XX
4.1.2. Restraints
4.1.2.1. High cost of the equipment
4.1.2.2. XX
4.1.3. Opportunity
4.1.4. Impact Analysis
5. Industry Analysis
5.1. Porter's Five Force Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis
5.5. Reimbursement Analysis
5.6. Patent Analysis
5.7. SWOT Analysis
5.8. DMI Opinion
6. COVID-19 Analysis
6.1. Analysis of COVID-19
6.1.1. Scenario Before COVID
6.1.2. Scenario During COVID
6.1.3. Scenario Post COVID
6.2. Pricing Dynamics Amid COVID-19
6.3. Demand-Supply Spectrum
6.4. Government Initiatives Related to the Market During Pandemic
6.5. Manufacturers Strategic Initiatives
6.6. Conclusion
7. By Type
7.1. Introduction
7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
7.1.2. Market Attractiveness Index, By Type
7.2. Stationary Ultrasound*
7.2.1. Introduction
7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. X-Ray
7.4. Portable Ultrasound
8. By Technology
8.1. Introduction
8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
8.1.2. Market Attractiveness Index, By Technology
8.2. 2D Ultrasound Imaging*
8.2.1. Introduction
8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3. 3D and 4D Ultrasound Imaging
8.4. Doppler Imaging
8.5. High-intensity Focused Ultrasound
9. By Application
9.1. Introduction
9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
9.1.2. Market Attractiveness Index, By Application
9.2. Anesthesiology *
9.2.1. Introduction
9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
9.3. Cardiology
9.4. Gynecology/Obstetrics
9.5. Musculoskeletal
9.6. Radiology
9.7. Critical care
9.8. Others
10. Competitive Landscape
10.1. Competitive Scenario
10.2. Market Positioning/Share Analysis
10.3. Mergers and Acquisitions Analysis
11. Company Profiles
11.1. Mindray Medical International Limited *
11.1.1. Company Overview
11.1.2. Product Portfolio
11.1.3. Financial Overview
11.1.4. Key Developments
11.2. Siemens Healthcare Private Limited
11.3. GE Healthcare
11.4. Philips Healthcare
11.5. Samsung Medison
11.6. Fujifilm Holdings Corporation
11.7. Hitachi Healthcare
11.8. Siemens Healthineers
11.9. Canon Medical Systems Corporation
11.10. Esaote Asia Pacific
LIST NOT EXHAUSTIVE
12. Appendix
12.1. About Us and Services
12.2. Contact Us