During the forecast period (2020 - 2027), the global ultrasound devices market is estimated to be worth US$ 6,230.1 million in 2019.

Continuous technological advancements and advances in ultrasound instruments provide diagnostic imaging a new edge. Imaging is crucial in the diagnosis of major illness conditions such as cardiovascular disease, brain disease, skeletal muscle disease, malignancies, kidney disease, and bone disease, among others. The ultrasound devices Market is now used in a wide range of therapeutic disciplines, including surgery, musculoskeletal medicine, and gastroenterology, in addition to radiology.

To improve diagnostic imaging outcomes, manufacturers are focusing on producing user-friendly, cost-effective, and advanced technological products. For example, Koninklijke Philips N.V. released Philips Lumify hand-held Ultrasound Devices Market for cardiac patients in November 2019. Lumify is an integral part of the mobile extracorporeal membrane oxygenation (ECMO) equipment, providing real-time visual advice to the physician during the ECMO cannulation process.

ECMO machines have only been offered in a few hospitals in the United States until now. However, in collaboration with Albuquerque Fire and Rescue (AFR), the UNM Department of Emergency Medicine's Divisions of Prehospital Care and Adult Critical Care deployed the first mobile ECMO program in the United States. The gadget, which is installed in the back of a specialist ambulance, allows doctors to execute an ECMO surgery while on the go. In a pre-hospital scenario, such advanced care could increase the chances of survival by up to 30%. The Ultrasound Devices Market from Philips Lumify is an integral part of the mobile ECMO unit. Lumify is used by members of the ECMO team to provide real-time visual guidance while placing tubes into veins and arteries, a procedure known as ECMO cannulation.

Competitive Landscape for Ultrasound Devices in the Global Market

GE Healthcare, Koninklijke Philips N.V., Toshiba Medical Corporation, Hitachi Medical Corporation, Analogic Corporation, Fujifilm Corporation, Siemens Healthcare, Samsung Medison Co. Ltd., and Esaote S.p.A. are among the major competitors in the worldwide ultrasound devices market.