New York, June 15, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Ultrasonic Technology Global Market Report 2022” –
The global ultrasonic technology market is expected to grow from $1.64 billion in 2021 to $1.85 billion in 2022 at a compound annual growth rate (CAGR) of 12.8%. The ultrasonic technology market is expected to grow to $2.83 billion in 2026 at a CAGR of 11.2%.
The ultrasonic technology market consists of sales of ultrasonic technologies by entities (organizations, sole traders, and partnerships) that are used to detect objects and measure distances. Ultrasonic technology is the technique of transmitting digital data utilizing barely audible and inaudible sound waves.
The main types of ultrasound technology are ultrasonic proximity sensor, ultrasonic retro-reflective sensor, and ultrasonic through-beam sensor.The term ultrasonic proximity sensor refers to sensors that are utilized in a variety of packaging applications for object detection and distance measurement.
The different technologies include ultrasonic medical technology, ultrasonic processing technology, and ultrasonic testing technology and are used in various applications such as welding, cleaning, inspections, and others. It is employed in several sectors including automotive, food and beverage, medical and healthcare, aerospace and defense, industrial, and others.
Asia Pacific was the largest region in the ultrasonic technology market in 2021. The regions covered in the ultrasonic technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The growing demand from the medical sector is expected to propel the growth of the ultrasonic technology market going forward.Businesses that provide medical services, manufacture medical equipment or medications, provide health coverage, or otherwise enable the provision of healthcare to patients make up the healthcare sector.
In medicine, ultrasound imaging, also known as sonography, is employed frequently.Ultrasound is used to discover unseen faults in products and structures during non-destructive testing.
For instance, according to PolicyAdvice, an insurance company, global healthcare spending is expected to reach $10 trillion by 2022. In addition, McKesson is the largest healthcare firm in the United States, with $208.3 billion in yearly revenue. Therefore, the growing demand from the medical sector drives the growth of the ultrasonic technology market.
The integration of artificial intelligence has emerged as a key trend gaining popularity in the ultrasonic technology market.Major companies operating in the ultrasonic technology sector are focused on incorporating artificial intelligence in ultrasonic devices to reinforce their position.
For instance, in September 2020, GE Healthcare, a US-based manufacturing company launched an AI-based Women’s Health ultrasound system, Voluson SWIFT. The Voluson SWIFT incorporates Intelligent Ultrasound’s ScanNav Assist AI technology and includes SonoLyst, the world’s first fully integrated AI tool that recognizes the 20 views recommended by the International Society of Ultrasound in Obstetrics and Gynecology mid-trimester practice guidelines for fetal imaging.
In October 2021, Bioventus, a US-based medical device company acquired Misonix for an undisclosed amount.Through this acquisition regenerative medicine and minimally invasive therapeutic ultrasonic technologies are added to the Bioventus portfolio.
Misonix is a US-based company that provides ultrasonic technologies.
The countries covered in the ultrasonic technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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