The Business Research Company’s global market reports provide comprehensive analysis on the various markets in 27 industries across 60 geographies.

The global ultrasonic technology market has witnessed significant growth, escalating from $1.86 billion in 2022 to $2.1 billion in 2023, marking a noteworthy compound annual growth rate (CAGR) of 13.0%. As the market continues to evolve, it is anticipated to reach $3.3 billion in 2027, projecting a robust CAGR of 12.0%. Let’s explore the driving forces, major players shaping the industry, and key trends in the ultrasonic technology market.

1. Medical Sector Demand: A Driving Force for Growth

• The ultrasonic technology market is poised for substantial growth, driven by the increasing demand from the medical sector.
• Businesses providing medical services, manufacturing medical equipment, medications, or supporting healthcare provision constitute the healthcare sector.
• Ultrasound imaging, or sonography, is widely utilized in medicine, contributing to fault detection in products and structures during non-destructive testing.
• Global healthcare spending is projected to reach $10 trillion by 2022, reinforcing the pivotal role of ultrasonic technology in the medical sector.

2. Key Players Shaping the Industry

• Major players in the ultrasonic technology market include GE Healthcare, Philips, Olympus Corporation, Siemens Healthineers, Hitachi, Canon Medical, Carestream, Mindray Medical, Samsung Electronics, Fujifilm, Esaote, Boston Scientific, Crest Group, Tokyo Keiki, Baumer Electric, Branson Ultrasonic, Cameron Measurement Systems, DPR Ultrasonic Technologies, and MS Industries AG.
• These industry leaders contribute to the market’s dynamism through innovation, technological advancements, and a commitment to meeting the diverse needs of end-users.

3. Rising Trend: Integration of Artificial Intelligence (AI)

• The integration of artificial intelligence has emerged as a key trend in the ultrasonic technology market, enhancing the capabilities of ultrasonic devices.
• Major companies, such as GE Healthcare, are actively incorporating AI in ultrasonic devices to bolster their market position.
• In September 2020, GE Healthcare launched the Voluson SWIFT, an AI-based Women’s Health ultrasound system incorporating Intelligent Ultrasound’s ScanNav Assist AI technology.
• The integration includes SonoLyst, the world’s first fully integrated AI tool recognizing the 20 views recommended by the International Society of Ultrasound in Obstetrics and Gynecology mid-trimester practice guidelines for fetal imaging.

4. Market Segmentation: Tailored Solutions for Diverse Needs

• The ultrasonic technology market is strategically segmented to cater to diverse types, technologies, applications, and end-users.
• By Type:
  • Ultrasonic Proximity Sensor
  • Ultrasonic Retro-Reflective Sensor
  • Ultrasonic Through-Beam Sensor
• By Technology:
  • Ultrasonic Medical Technology
  • Ultrasonic Processing Technology
  • Ultrasonic Testing Technology
• By Application:
  • Welding
  • Cleaning
  • Inspections
  • Other Applications
• By End User:
  • Automotive
  • Food and beverage
  • Medical and healthcare
  • Aerospace and defense
  • Industrial
  • Other End Users

5. Regional Dynamics: Asia-Pacific Takes the Lead

• In 2022, Asia-Pacific emerged as the largest region in the ultrasonic technology market, reflecting the region’s pivotal role in the industry’s growth.
• As the market progresses, Asia-Pacific is expected to maintain its leading position, driven by technological advancements, increasing industrialization, and a growing healthcare sector.

View More On The Ultrasonic Technology Market Report 2023 – https://www.thebusinessresearchcompany.com/report/ultrasonic-technology-global-market-report

Request A Sample Of The Global Ultrasonic Technology Market Report 2023:
https://www.thebusinessresearchcompany.com/sample_request?id=6063&type=smp

The Ultrasonic Technology Global Market Report 2023  provides a comprehensive overview on the ultrasonic technology market size, trends and drivers, opportunities, strategies, and companies analysis. Through our reports businesses can effectively analyze data and frame well-informed strategies

View More Related Reports –
Technology Advisory Global Market Report 2023
Neurosurgery Devices And Equipment Global Market Report 2023
Flowmeter Global Market Report 2023

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model