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The global ultrasound market was estimated at $8.5 billion in 2023. It is estimated to reach $11.6 billion by 2028, according to Market and Markets. Ultrasound is commonly seen as an invaluable diagnostic tool in the medical sector because of its quick results and cost effectiveness. Additionally, it is considered a safer option compared to other imaging techniques because it does not expose patients to radiation or magnetic fields.
Ultrasound market According to the market activity data observed by symplr’s Capital Spend Database in the past year, the leading vendors in the ultrasound market are GE Healthcare at 38%, Sonosite at 26% and Philips at 12%. The symplr Capital Spend database is a real-time, dynamic database reflecting customer interest in specific vendors and models based on quotes submitted for analysis.
Ultrasound systems offer a range of configurations from high-end to budget-friendly options. Facilities with lower volumes often opt for budget-friendly choices such as systems in the economy and compact portable market segments. On the other hand, premium market segments cater to higher-end products in the ultrasound industry.
The premium systems are composed of cutting-edge applications, advanced workflows, and functional software. Performance systems are designed to offer functionality but lack the advanced applications and software of higher-end systems. Economy systems typically offer limited features, however, these are still great choices for everyday use. The final category is compact/portable/handheld and these are highly maneuverable systems commonly used for quick point of care, in home, and with critically ill patients where moving around is not easy.
GE HealthCare: Accounts for 38% of purchase considerations within the general market category in the last 12 months. GE has systems in all categories including the Logiq P9 xdclear in economy, Logiq S8 in performance, the Logiq E10 R3 in the premium level and the Venue Go in compact/portable. GE Healthcare’s variety of system configurations and price point add to their popularity.
Sonosite: Accounts for 26% of purchase considerations in the general ultrasound market, these all being within the general compact portable category. Within the compact portable market Sonosite holds the top 3 systems. The PX, SII and the LX. These systems all come with a 5-year/ 60-month standard warranty.
Philips: Accounts for 12% of purchase considerations in the general market. Philips has systems in the compact portable, performance, and premium market segments. Compact portable being the Sparq, performance the Affinity 50, and premium Epiq Elite G.
