Ultrasonic Phased Array Probe Market Size, Share & Industry Analysis, By Type (Ultrasound Straight Probe, Ultrasound Angle Probe, and Ultrasound Curvature Probe), By Application (Ophthalmology, Cardiology, Abdomen, and Uterus), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Ultrasonic Phased Array Probe Market REPORT OVERVIEW

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The global ultrasonic phased array probe market size was USD 2418.6 million in 2021 and market is projected to touch USD 4161.75 million by 2031, exhibiting a compound annual growth rate (CAGR) of 5.5% during the forecast period.

The ultrasonic phased array probe is a transducer with numerous signal emitters and receivers. By producing pulses that return when they encounter specific objects, ultrasonic phased arrays are used in sonography to locate a region. This enables the creation of images for use in medicine that can be displayed on monitors or recorded on film.

COVID-19 Impact: Pandemic Repercussions Affected the Functioning of the Market

The World Health Organization has declared a public health emergency as a result of the disease's global expansion after the COVID-19 outbreak in December 2019. As of September 29, 2020, more than 33.4 million people worldwide were infected as a result of the coronavirus (COVID-19) manifestation, according to a report from the World Health Organization.

LATEST TRENDS

"Technological Advancements to Boost Product Demand"

This modern form of ultrasonic testing, which uses ultrasonic phased array probe technology, enables flexible and precise flaw diagnosis. The phased array probe has a single transducer for receiving and delivering signals, whereas conventional ultrasonic uses several transducers. This is the main distinction between phased array testing equipment and conventional ultrasonic. A phased array testing probe emits ultrasonic waves from a variety of transducers, covering the entire region that can be examined and providing a more precise and in-depth picture of the object under inspection. The use of computer-measured ultrasonic waves in phased array probes provides a significant additional benefit. Phased array probes allow for flexible tuning of the transducer's settings; Consequently, it aids in the examination of even complex geometries. Digital storage is used to store the phased array probe data.

Ultrasonic Phased Array Probe Market SEGMENTATION

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• By Type

Based on type; Ultrasound Straight Probe, Ultrasound Angle Probe, and Ultrasound Curvature Probe.  

• By Application

Based on application; Ophthalmology, Cardiology, Abdomen, and Uterus.

DRIVING FACTORS

"Increasing Adoption from Various Applications to Augment Market Growth"

It is projected that increased use of ultrasound technologies will hasten market expansion. The rise in chronic diseases, technological advancements, an increase in cases of pulmonary artery-related disorders, an increase in the use of ultrasound probes, particularly in low- and middle-income countries, and an increase in government initiatives are additional factors anticipated to boost the ultrasound probe market over the forecast period of 2022 to 2029. Technological developments, the expansion of ultrasound imaging methods, the rise in hospital-acquired infections (HAIs), and the increased use of diagnostic imaging are all factors contributing to the growth.

"Increasing Demand for Machines to Boost Market Advancements"

The increasing use of ultrasound machines, which can be inferred from their high efficiency and safety, is what drives the global ultrasonic phased array probe market. Ultrasonic phased array probe technology offers clinicians precise ongoing and novel insights for appropriate analysis, which is projected to drive market growth in the upcoming years. It offers a better way to provide test findings and give consumers data that is increasingly valuable. The ability to provide an image that can be used to comprehend a color scheme scan is expected to drive global ultrasonic phased array probe market growth in the coming years.

RESTRAINING FACTORS

"High Cost to Hinder Market Growth"

The market's growth rate would be hampered by the high price of the ultrasound probe, lack of knowledge about ultrasound probe, and restricted availability of ultrasound probe.

Ultrasonic Phased Array Probe Market REGIONAL INSIGHTS

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"Increasing Prevalence of Cardiovascular Diseases to Foster Growth in North America"

North America is predicted to dominate the ultrasonic phased array probe market share. Due to the rising prevalence of cardiovascular disorders, demand for cardiac assessment is expected to drive the market in the forecast period. For instance, the Centers for Disease Control and Prevention Report from 2020 estimates that 18.2 million Americans over the age of 30 have coronary artery disease.

The market for ultrasonic phased array probe in Europe is anticipated to increase significantly over the course of the forecast period as a result of leading businesses placing more emphasis on new product releases and product approvals.

KEY INDUSTRY PLAYERS

"Key Players Aim to Develop Product Application and Awareness Rate"

The key market players strategize to augment the amount of production in the market, so consumers can receive the best treatment obtainable. Furthermore, the companies also aim to develop the product to reduce the impacts of the drug’s side effects.  Additionally, the key players also advertise the medications used and raise awareness in the market for treatments.

List of Market Players Profiled

• GE (U.S.)
• Philips (Netherlands)
• Siemens (Germany)
• SonoSite (U.S.)
• Toshiba (Japan)
• Samsung Medison (South Korea)
• Hitachi (Japan)
• Esaote (Italy)
• Mindray (China)
• SIUI (China)
• Shenzhen Ruqi (China)
• SonoScape (China)

REPORT COVERAGE

This report highlights types of the solvent recycling and its latest trends along with the vital driving and restraining factors within the market. Moreover, this report consists of the key industry players and their aims, also factors causing the leading region to reach its position in the market.