Contrast Enhanced Ultrasound Market in terms of revenue was estimated to be worth $1.6 billion in 2023 and is poised to reach $2.1 billion by 2028, growing at a CAGR of 6.1% from 2023 to 2028 according to a new report by MarketsandMarkets™.
The major factors driving the growth of this market include the rising prevalence of chronic diseases and technological developments. Furthermore, contrast-enhanced ultrasound procedures help clinicians with the early detection of chronic diseases and ultimately improve patient outcomes. Contrast agents offer exceptional imaging image clarity and also enable the visualization of blood flow.
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Contrast agents’ segment to register a significant growth rate over the forecast period of 2023-2028.
Based on the product, the global contrast-enhanced ultrasound market is segmented into equipment, contrast agents, and software and services. The contrast agents segment is anticipated to register the highest growth rate over the forecast period. The equipment segment accounted for the highest share of the contrast-enhanced ultrasound market in 2022.
The diagnostic application segment accounted for the largest share of the contrast-enhanced ultrasound market by application in 2022.
Based on application, the global contrast-enhanced ultrasound market is segmented into diagnostic applications and therapeutic applications. The diagnostic applications segment accounted for the largest share of the market in 2022, and the therapeutic applications segment is expected to grow at the highest CAGR during the forecast period. Factors such as the introduction of novel software and the rising adoption of high-end instruments in end-user facilities drive the growth of the market.
The hospitals and surgical centers segment accounted for the largest share of the contrast-enhanced ultrasound market, by end-user, in 2022
Based on end users, the global contrast-enhanced ultrasound market is segmented into hospitals and surgical centers, diagnostic imaging clinics, ambulatory surgical centers, and other end users. The hospitals and surgical centers segment accounted for the largest share of the market in 2022. The increasing geriatric population and rise in the number of hospitals are driving the growth of this segment.
The Asia Pacific market to register the highest growth in the market during the forecast period
The Asia Pacific contrast-enhanced ultrasound market is anticipated to register the highest growth from 2023 to 2028. Major players in the market are focusing on expanding their manufacturing capabilities in APAC. This region is consistently witnessing a rise in the adoption of high-end equipment, offering significant growth opportunities for the key players.
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Contrast Enhanced Ultrasound Market Dynamics:
Drivers:
- Rising prevalence of chronic diseases
Restraints:
- Side effects of contrast agents
Opportunities:
- Growth opportunities in emerging countries
Challenges:
- Shortage of skilled sonographers
Key Market Players:
As of 2022, prominent players in the contrast-enhanced ultrasound market are GE Healthcare (US), Lantheus Holdings, Inc. (US), Bracco Imaging SpA (Italy), and Koninklijke Philips N.V. (Netherlands), among others.
Recent Developments:
- In 2023, Esaote SpA launched a new premium ultrasound system, MyLab X90. This system has high contrast resolution and supports higher accuracy. It is equipped with augmented insight and can be utilized to contrast-enhanced ultrasound procedures. It simplifies the workflow and delivers exceptional image quality.
- In 2021, Mindary launched the general imaging diagnostic ultrasound system. Resona I9 is equipped with the latest technologies and delivers improved efficiency. It supports precise analysis and provides accurate results. It can be efficiently used to perform contrast-enhanced ultrasound procedures and can be easily transported for mobile service.
- In 2021, Esaote SpA launched the MyLab X75 ultrasound system. This system can be effectively used for liver quantification. This system offers improved contrast resolution. It can be efficiently used to perform liver assessment.
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