Canada Healthcare Ultrasound Equipment Market Insights Forecasts to 2033

• The Market Size is Growing at 7.50% CAGR from 2023 to 2033.
• The Canada Healthcare Ultrasound Equipment Market Size is Expected to Reach a Significant Share by 2033

The Canada Healthcare Ultrasound Equipment Market Size is expected to Reach a Significant Share by 2033, Growing at a 7.50% CAGR from 2023 to 2033.     

Market Overview

The Canadian healthcare ultrasound equipment market is the industry dedicated to the creation, distribution, and implementation of ultrasound devices applied for diagnostic and therapeutic uses in health facilities in Canada. These machines use high-frequency sound waves to produce real-time images of the interior structures of the body, assisting in disease diagnosis, treatment planning, and intervention guidance. Canada healthcare ultrasound equipment market is driven by enormous opportunities driven by technological advancements, rising point-of-care ultrasound (POCUS) demand, and increasing applications in diagnostic imaging. Rising incidence of chronic diseases, telemedicine adoption growth, and government spending on healthcare infrastructure also drive the market. Additionally, AI-powered ultrasound, transportable equipment, and a shift towards non-invasive diagnostics provide new possibilities for medical device makers and healthcare providers alike, enhancing accessibility and efficiency in medical imaging. In March 2024, the Government of Canada invested close to $14 million to accelerate innovation and economic development in Vancouver, with more than $3.3 million being directed to Clarius Mobile Health. This investment is to speed up the export of Clarius' wireless handheld ultrasound scanners, improving point-of-care diagnostics. Also, in October 2024, Arrayus Technologies gained Health Canada approval for its MRI-guided focused ultrasound system, providing a non-surgical option for the treatment of uterine fibroids.

Report Coverage

This research report categorizes the market for the Canada healthcare ultrasound equipment market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Canada healthcare ultrasound equipment market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Canada healthcare ultrasound equipment market.

Driving Factors

The Canadian healthcare ultrasound equipment market is based on several driving forces, including the increasing incidence of chronic diseases, like cardiovascular diseases and cancer, which require early and precise diagnosis to drive demand. Advances in technology such as 3D/4D imaging, AI-based imaging, and handheld ultrasound systems are also contributing to market growth by enhancing diagnostic accuracy and convenience. In addition, Canada's aging population is helping drive up the demand for ultrasound procedures, especially in the areas of cardiology, obstetrics, and musculoskeletal use. Government initiatives and investments in healthcare to further diagnostic imaging capability across clinics and hospitals are also bolstering growth in the market. In addition, the increasing trend towards radiation-free and non-invasive diagnostic methods, coupled with the growing use of point-of-care ultrasound (POCUS) in the emergency and critical care departments, is driving the market forward at a faster rate.

Restraining Factors

The Canada healthcare ultrasound equipment market faces restraints such as high costs of advanced ultrasound systems, reimbursement limitations, and budget constraints in public healthcare facilities. A shortage of skilled ultrasound technicians, regulatory approval challenges, and slow adoption of AI-driven imaging further hinder market growth. Additionally, competition from refurbished equipment, limited accessibility in rural areas, and maintenance costs pose significant challenges to the widespread adoption of ultrasound technology in Canada.

Market Segment

• The table-top segment held the greatest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the product, the Canada healthcare ultrasound equipment market is divided into compact and table-top. Among these, the table-top segment held the greatest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.  This is due to its versatility, cost-effectiveness, and high adoption in hospitals and diagnostic centers. Moreover, the increasing demand for high-resolution imaging, ease of use, and advancements in portable ultrasound technology are expected to drive significant CAGR growth during the forecast period, particularly in point-of-care applications.

• The radiology segment accounted for the majority of the share in 2023 and is estimated to grow at a significant CAGR during the projected timeframe.

Based on the application, the Canada healthcare ultrasound equipment market is divided into radiology, gynecology, cardiology, point of care, urology, surgery, and others. Among these, the radiology segment accounted for the majority of the share in 2023 and is estimated to grow at a significant CAGR during the projected timeframe. This is due to the increasing demand for advanced imaging solutions, the rising prevalence of chronic diseases, and the growing reliance on ultrasound for non-invasive diagnostics. Furthermore, technological advancements, improved image resolution, and expanding applications in cardiology, oncology, and musculoskeletal imaging are expected to drive significant CAGR growth during the forecast period.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Canada healthcare ultrasound equipment market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• GE Healthcare
• Philips Healthcare
• Siemens Healthineers
• Canon Medical Systems
• FUJIFILM Holdings Corporation
• Hologic Inc.
• Mindray Medical International Limited
• Esaote SpA

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at regional, and country levels from 2023 to 2033. Spherical Insights has segmented the Canada Healthcare Ultrasound Equipment Market based on the below-mentioned segments:

Canada Healthcare Ultrasound Equipment Market, By Product

• Compact
• Table-top

Canada Healthcare Ultrasound Equipment Market, By Application

• Radiology
• Gynecology
• Cardiology
• Point of Care
• Urology
• Surgery
• Others