The North America ultrasound transducer market is expected to reach US$ 2,093.15 million by 2027 from US$ 1,570.93 million in 2019; it is estimated to grow at a CAGR of 4.0% from 2020 to 2027.
Ultrasound is a noninvasive procedure used to diagnose chronic diseases such as cardiovascular, lung, kidney, and gynecological diseases, and cancer. The growth of the North America ultrasound transducer market is credited to the factors such as growing prevalence of chronic diseases and increasing funds for ultrasound research. On the other hand, the shortage of medical staff is hindering the market growth in this region.
The growing prevalence of chronic disease in North America boosts the demand for ultrasound transducers. As per the Globocan 2018, in 2018, there were 2,129,118 new cases of cancer and 616,714 cancer deaths in the US. Moreover, there were 249,077 new cases of cancer and 81,378 cancer deaths in Canada. It also mentioned that there were 190,667 new cases of cancer and 83,476 cancer deaths in Mexico. Further, as per the “Chronic Kidney Disease in the United States, 2019” report by the Centers for Disease Control and Prevention, 15% (37 million) of the population in the US is estimated to have chronic kidney diseases (CKDs). In addition, as per the Journal of the American Heart Association, in 2016, 121.5 million adults, i.e., ~48%of the population, in the US suffers from cardiovascular disease.
The North America ultrasound transducer market based on product has been segmented into linear, convex, phased array, endocavitary, CW Doppler, tee probes, and others. The TEE probes segment is further segmented into 2D TEE probes, 3D TEE probes, and 4D TEE probes. Whereas, the age group is sub-segmented as adult and pediatric. The convex segment held the largest share of the North American market in 2019. However, the linear segment is estimated to register the highest CAGR in the market during the forecast period. The North America ultrasound transducer market based on application has been segmented into cardiovascular, general imaging, musculoskeletal, OB AND GYN, and other. On the basis of end user, the North America ultrasound transducer market has been segmented into hospitals, clinics, diagnostic centers, and ambulatory surgical centers.
A few of the major secondary sources associated with this study on the North America ultrasound transducer market are Canada Foundation of Innovation, Globocan, Canadian Patient Safety Institute, Ohio State Innovation Foundation, and National Institute of Health (NIH).