China Ultrasound Devices Market Size

China Ultrasound Devices Market Analysis

The China Ultrasound Devices Market size is estimated at USD 1.18 billion in 2024, and is expected to reach USD 1.59 billion by 2029, growing at a CAGR of 6.12% during the forecast period (2024-2029).

• COVID-19 had a significant impact on the ultrasound device market in China. Healthcare providers are deploying the potential of ultrasound diagnosis, primarily for diagnostic applications for the triage, monitoring, and diagnosis of COVID-19 patients. According to the study published in the Chinese Medical Journal in May 2022, lung ultrasonography could detect signs of pleural sliding, pulmonary edema, lung consolidation, and other conditions.
• Lung ultrasound (LUS) was a valuable tool for rapid assessment of the severity of lung injuries in COVID-19 patients. COVID-19 has significantly impacted ultrasound, as many healthcare providers have deployed ultrasound systems, particularly in applications for COVID-19 monitoring and diagnosis. However, the market is currently growing at a stable pace owing to the resumption of diagnostic procedures, and it is expected to witness a similar trend over the coming years.
• The major factors driving market growth include the increasing burden of chronic diseases, technological advancements, and others.
• With the rising burden of chronic diseases such as cancer, cardiology, and neurology diseases, among others, which require early and effective diagnosis devices, the demand for ultrasound will likely increase over the forecast period. For instance, according to the Global Tuberculosis Report 2022, TB affected 7.5% of the population in China in 2021.
• Ultrasound serves as a prevalent imaging test utilized for diagnostic purposes, including point-of-care applications, particularly in individuals under suspicion of abdominal tuberculosis. This trend is anticipated to significantly augment the demand for ultrasound-based diagnoses, thereby propelling substantial growth within the market throughout the projected period.
• Major market players are also introducing and launching new, cutting-edge ultrasound equipment, further accelerating the industry's growth. For instance, in March 2021, the MGI Robotic Ultrasound Vehicle was officially launched. MGI's patented robotic ultrasound vehicle, which comprises an examination area, an information input area, and a sample collection area, offers a one-stop diagnostics solution without requiring a professional sonographer onboard. Additionally, in May 2021, SonoScape launched its new premium ultrasound series to make the obstetric ultrasound examination more standardized in China.
• Thus, all the aforementioned factors, such as the growing burden of chronic diseases and product launches by market players, are expected to boost the market over the forecast period. However, stringent regulation may restrain the market over the forecast period.