United States Ultrasound Market Poised for Substantial Growth by 2030

The global ultrasound market has demonstrated remarkable resilience and growth potential, with market valuations climbing from $8.65 billion in 2023 to $9.32 billion in 2024. Industry analysts project the market will advance at a robust compound annual growth rate (CAGR) of 6.8% from 2024 to 2030, culminating in a forecasted valuation of $13.87 billion by the end of the projection period.

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This substantial market expansion is being propelled by multiple converging factors that are reshaping the diagnostic imaging landscape. The rising prevalence of chronic diseases, including cardiovascular conditions, cancer, and musculoskeletal disorders, continues to drive demand for advanced diagnostic tools. Healthcare providers are increasingly prioritizing non-invasive, real-time imaging techniques that enable early detection of medical conditions, positioning ultrasound technology as an indispensable component of modern medical practice.

Technological Innovation Driving Market Transformation

The ultrasound industry has undergone remarkable technological evolution over the past decade, with innovations spanning from focused ultrasound and portable platforms to sophisticated smartphone-based ultrasound devices. These technological advancements have fundamentally transformed diagnostic imaging capabilities, enabling faster diagnostic results with superior image quality, enhanced device usability, and improved cost-effectiveness compared to traditional platforms.

Artificial intelligence is emerging as a game-changing force in ultrasonography, significantly enhancing image quality while offering advanced diagnostic support and streamlining clinical workflows. AI applications in ultrasound now encompass automated characterization of findings, extraction of quantitative and predictive data beyond human visual capabilities, and automated detection and segmentation of structures in medical images. The scope of AI-driven innovations in ultrasonography is anticipated to expand substantially in the coming years.

Notable examples of AI-integrated ultrasound systems include Butterfly Network's Butterfly iQ+, a hand-held device that leverages artificial intelligence to aid in diagnosis through imaging while connecting seamlessly to smartphones or tablets for enhanced portability and usability. In July 2023, Fujifilm introduced the Sonosite ST point-of-care ultrasound (POCUS) system, specifically designed to improve workflow efficiency for busy proceduralists while maintaining compatibility with existing transducer families.

Point-of-Care Ultrasound: The Future of Diagnostic Imaging

The trend toward miniaturization of diagnostic imaging devices has catalyzed significant advancements in the ultrasound market, particularly in the development and commercialization of portable and compact platforms. Point-of-care ultrasound devices are experiencing the highest growth rate in the market due to their ability to provide direct, real-time diagnostic imaging at the patient's bedside, which proves crucial for making rapid decisions during emergencies and intensive care procedures.

These innovative devices provide unprecedented flexibility for use outside traditional hospital settings, including primary care facilities, outpatient clinics, and even home healthcare environments. POC ultrasound systems are increasingly utilized for emergency and critical situations, encompassing trauma cases, day-surgery procedures, self-administered pregnancy tests, and comprehensive home healthcare applications.

A March 2024 article emphasized the necessity of expanding Point-of-Care Ultrasound training into residency programs across the country, noting that affordable pocket ultrasound devices are now widely available. The modern POC ultrasound device represents the contemporary equivalent of the traditional stethoscope and should be embraced for its potential to improve diagnostic accuracy and enhance patient care rather than being viewed as a threat to clinical skills or the doctor-patient relationship.

The increasing demand for cost-effective and improved healthcare services continues to drive POC ultrasound adoption. As healthcare systems endeavor to maintain quality care while reducing operational costs, the ability to perform immediate imaging eliminates the need for patient transfers and extended wait times, contributing to enhanced workflows and overall cost reduction.

Diagnostic Ultrasound Maintains Market Dominance

Diagnostic ultrasound maintains the largest share of the medical imaging market due to its distinctive combination of safety, versatility, and cost-effectiveness. Unlike imaging modalities that rely on radiation, sonography is non-invasive and has no harmful side effects, making it particularly appropriate for sensitive patient populations such as pregnant women, children, and individuals requiring frequent monitoring.

The technology's ability to provide real-time, dynamic images has established its widespread use across diverse medical fields, including obstetrics, cardiology, musculoskeletal imaging, and emergency care. Technological advancements encompassing 2D, 3D, and 4D imaging, along with Doppler ultrasound for measuring blood flow and contrast-enhanced ultrasound, have improved diagnostic precision and expanded clinical applications, especially in complex cases involving fetal anomalies and cardiovascular disorders.

Market Challenges and Opportunities

Despite robust growth projections, the ultrasound market faces several notable challenges. High operating costs associated with ultrasound equipment, along with ongoing expenses for maintenance, calibration, and repairs, present significant obstacles for smaller healthcare providers. This financial burden limits access to ultrasound facilities, particularly in developing regions, and hinders equitable allocation and delivery of ultrasound services.

The elevated costs of advanced ultrasound technologies have led to increased preference for refurbished ultrasound equipment. In North America, new 3D/4D ultrasound systems typically range from $20,000 to $75,000, whereas refurbished systems are available for $5,000 to $40,000. Major manufacturers including GE Healthcare, Philips Healthcare, and Siemens Healthineers have responded by offering refurbished ultrasound equipment at competitive prices to address these market segments.

Additionally, the industry faces a critical shortage of skilled sonographers. There are approximately 65,000 sonographers currently practicing, but the healthcare industry requires an additional 27,600 qualified professionals by 2024 to meet growing patient needs. The workforce challenges are compounded by the retirement of experienced sonographers due to increasing workloads and physical stress associated with repetitive tasks.

Key Market Players and Competitive Landscape

The ultrasound industry comprises a vast network of stakeholders, including device manufacturers, medical professionals, research institutions, and regulatory agencies. Notable companies driving market innovation include Philips Healthcare, GE Healthcare, Canon Medical Systems Corporation, Siemens Healthineers, Fujifilm Corporation, Hologic Inc., Samsung Electronics Co., Ltd., Esaote S.p.A., Chison Medical Technologies Co., Ltd., MobiSante Inc., Clarius, MedGyn Products, Inc., Promed Technology, and Neusoft Corporation, among others.

The convergence of safety, versatility, affordability, and technological innovation positions the ultrasound market for sustained growth through 2030 and beyond, with point-of-care systems and AI integration representing the most promising avenues for market expansion and clinical advancement.