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Ultrasound Conductivity Gels Market

Ultrasound Conductivity Gels Market by Product Type (Sterile Gels and Non-sterile Gels), By End User (Hospitals, Clinics, Diagnostic Centers and Ambulatory Surgical Centers) and By Region, Forecast for 2022-2028

Ultrasound Conductivity Gels Market by Product Type (Sterile Gels and Non-sterile Gels), By End User (Hospitals, Clinics, Diagnostic Centers and Ambulatory Surgical Centers) and By Region, Forecast for 2022-2028

Ultrasound Conductivity Gels Market - Analysis, Outlook, Growth, Trends, Forecasts

Ultrasound Conductivity Gels Market Snapshot

[241 Pages Report]  The Ultrasound Conductivity Gels Market is estimated at USD 278.9 million in 2022 and is projected to reach USD 439.1 million by 2028, growing at a CAGR of 7.9% during the forecast period (2022-2028). The advancements in bio-related applications, specifically ultrasound technologies, require conductive gel platforms for engineering materials with good biocompatibility, varied functionalization and modifiable mechanical strength. Ultrasound conductivity gels have proven to be an ideal material for advanced applications with respect to bio-electronics and biosensors. This virtue has established a high drive in demand for ultrasound conductivity gels over the globe.

Increasing concern in terms of health related issues and the constant evolution in technology and medicine fields of research have thus initiated evaluation of a model gel based conductivity medium for use in ultrasound procedures. This is owed to the constructed property of ultrasound conductivity gels with tighter coupling and improved compatibility with soft and dynamically deformed biological surfaces or internal organs. This is a major factor which is responsible for reliable diagnostic and patient outcome, thus increasing the value of patient care.

Market Outlook:

Data Points

Market Insights

Market Value 2022

US$ 278.9 Mn

Market Value 2028

US$ 439.1 Mn

CAGR 2022-2028

7.9%

Market Share of Top 5 Countries

62.8%

Key Players

Medline Industries Inc., Parker Laboratories, Inc., Roscoe Medical, Cardinal Health, Inc. , ECO-MED Diagnostic Imaging, National Therapy Products Inc., Modul Diagram S.r.l, Ceracarta Spa, DJO Global, Inc. and Pharmaceutical Innovation Inc.

Sales Analysis of Ultrasound conductivity gels from 2013 to 2021 Vs Market Outlook for 2022 to 2028

The market value for ultrasound conductivity gels holds nearly 25% of the overall US$ 1.3 Bn medical gels market in 2021.

The global ultrasound conductivity gels market is driven through advancements and technological developments in ultrasound devices which assist healthcare facilities such as hospitals and clinics with improved patient management and care. The development of ultrasound gels into sterile ultrasound gels and non-sterile ultrasound gels have diversified applications in diagnostic imaging tests such as transesophageal echocardiogram tests with reduced risk of cross contamination and better imaging resolution during ultrasound examinations. Furthermore, the development of portable ultrasound devices and specialty based ultrasound machines such as cardiovascular ultrasound systems have instigated the employment of approved sterile ultrasound gels for better screening and diagnosis of disease.

Increasing adoption of point-of-care diagnostic solutions coupled with bed side monitoring have emerged as a solution for providing real-time information to the physicians for treatment of critically ill patients. This is further set to prompt the growth of the ultrasound conductivity gels market. The increasing volume of ultrasound procedures is a key factor in the progression of ultrasound conductivity gels market.

Additionally, increasing initiatives to promote awareness on breast cancer screening over the globe have impacted the market in terms of surge in number of diagnostic screening procedures, and hence, the ultrasound conductivity gels market.

The global ultrasound conductivity gels market expanded at 6.9% CAGR over the past 8 years from 2013 to 2021. The market is expected to expand at a considerable growth rate over the next six years at a CAGR of close to 7.9%.

What are the Key Opportunities for Ultrasound conductivity gels Manufacturers?

The ultrasound conductivity gels market is assuredly to experience opportunistic growth through the forecast period based on the rising focus of key manufacturers to introduce technologically advanced devices for screening and diagnosis with efficient cost and ease of use. Advanced technologies such as the growth of ultrasound scanners and their increasing applications are further set to aid in the growth of ultrasound conductivity gels market, owing to the increasing number of ultrasound procedures.

The rising expenditure on diagnostics and treatment procedures is further expected to increase the sales growth of ultrasound conductive gels market. Increasing incidence of diseases related to the field of cardiology, urology and obstetrics scales up the usage of ultrasound gels for each procedure. The growing population rate in the Asia-Pacific regions has established a need for safer screening technologies for foetal activity monitoring, and these factors are expected to promote the adoption of ultrasound gels over the globe.

Furthermore, the increasing awareness in terms of early diagnosis and treatment of disease as well as the rising number of established diagnostic centers and clinics will further boost the demand of ultrasound procedures and in turn, the ultrasound conductivity gels market worldwide.

What are the Factors Restraining Demand for Ultrasound conductivity gels?

Factors restraining the growth of ultrasound conductivity gels market are associated with inaccessibility or unaffordability of ultrasound gels in locations with low resources. This presents a likely preference of consumers and physicians to opt for low-cost substitutes of ultrasound gels. The adoption of low-cost resources may benefit the economies with steep radiological budget, however it acts as a major hindrance for the growth of ultrasound conductivity gels market on a global scale.

The availability of low cost substitutes for specialized ultrasound gels in the market, such as bio oil, skin gel, aloe vera, KY jelly and hand sanitizers hinder the sales growth of medical ultrasound gels in locales where low allocation of resources presents cost related issues.

Apart from these factors, the high cost of equipment maintenance and lack of trained personnel for operation leads to restrictive demand of ultrasound procedures and further decreases the demand of ultrasound gels. Moreover, the risk of cross contamination and spread of infections through ultrasound gels is a prime factor which obstructs the leverage some key products hold.  In recent events, FDA has recalled 8 lots of ultrasound gels for contamination. One such product was manufactured by Eco-Med and was recalled due to the risk of contamination with Burkholderia cepacia complex (Bcc) in November 2021.

Country-wise Insights

What Makes the U.S. the Largest Market for Ultrasound conductivity gels?

The U.S. dominates the North American region with a total market share of around 95.9% in 2021, and is projected to continue experiencing high growth throughout the forecast period. The growth of this market is driven by advanced healthcare systems in the region, mitigation strategies and product recalls of ultrasound conductivity gels associated with risk of infections along with increasing funding for cancer research and development in the country.

Why is Germany Considered a Lucrative Segment for Ultrasound conductivity gels Market in Western Europe?

Germany exhibited a Y-O-Y growth of nearly 8.8% in the Western Europe ultrasound conductivity gels market in 2021 and is expected to hold a market value share of 24.7% by the end of 2028. The growth is associated with the increasing prevalence of cancer and growing government efforts to reduce both infant and maternal mortality rates in the region. There is a suggested set preference for utilizing sterile gels for ultrasound techniques in order to prevent contamination and infection among patients.

What Makes China an Emerging Country for Ultrasound conductivity gels Market?

China holds 6.2% value share in the global ultrasound conductivity gels market in 2021, and is projected to grow at a lucrative rate of CAGR 8.5% during the forecast period. The growth of the ultrasound conductivity gels market in the country is attributed to the developing healthcare infrastructure catering to the unmet needs of the population, and the presence of small-scale manufacturers in the country.

Category-wise Insights

Which Ultrasound conductivity gels Product is Driving Market Growth?

Non-sterile gels project a lucrative growth at a CAGR of 7.8% till the end of the forecast period, with the current market share of around 74.6% in 2021. This dominant market value is associated with rising adoption of non-invasive ultrasound screening methods using gels with higher conductivity. Non-sterile gels is cost effective as compared to sterile gels and has improved resolution for imaging.

Which End User Shows Higher Implementation in Ultrasound conductivity gels market?

Clinics hold current global ultrasound conductivity gels market value share of 32.9% in 2021, and are projected to achieve an estimate market share value of 33.4% by the end of the forecast period due to increasing demand of ultrasound procedures and also due to developing infrastructure in various regions.

Additionally, growth is also associated with the rising awareness about importance of early intervention and diagnosis of disease, thus resulting in reduced healthcare costs. This factor has resulted in an increased installation rate of ultrasounds in clinics.

What is the Impact of COVID-19 on the Ultrasound Conductivity Gels Market?

Through the advent of the COVID-19 pandemic, the prevalence of infectious diseases exhibited a rise in terms of intensity as well as the rate of spreading. There was a surge in the number of patients infected with the COVID-19 virus during the initial phase of the global pandemic. This led to the adoption of emergency procedures in hospitals as a priority with the aim to reduce and manage further transmission of the infection. This progressed into a reduction in the adoption of elective procedures requiring ultrasound evaluations.

Although there was a decline in elective ultrasound procedures, yet, the emergency procedures requiring imaging services had a large rate of adoption in terms of X-rays, CT scans and ultrasounds. The number of ultrasound procedures for lungs showed a rising trend during the initial term of the pandemic, and it is expected that the long term effects of COVID-19 are set to boost the number of ultrasound procedures for specialized diagnosis, particularly for kidney and lungs.

Competitive Landscape

Key players in the ultrasound conductivity gels market utilize strategies involving expansions aimed at enhancing their business operations and existing services, acquisitions of major health businesses to rapidly grow their core offerings, and making distribution agreements with branded pharmaceutical manufacturers to engage larger consumer base.

  • In June 2021, Medline Industries, Inc., announced that it has entered into a definitive agreement through which it will receive a majority investment from a partnership comprised of funds managed by Blackstone, Carlyle and Hellman & Friedman.
  • In January 2021, DJO, LLC, manufacturer of Ultrasound gel products announced the acquisition of Trilliant Surgical, a national provider of foot and ankle orthopaedic implants.

Similarly, recent developments related to companies manufacturing ultrasound conductivity gels market services and technologies have been tracked by the team at Future Market Insights, which are available in the full report.

Report Scope as per Ultrasound conductivity gels Industry Analysis

Attribute

Details

Forecast Period

2022-2028

Historical Data Available for

2013-2021

Market Analysis

US$ Mn for Value

Key Regions Covered

North America, Latin America, Western Europe, Eastern Europe, APECJ, China, Japan and Middle East and Africa

Key Countries Covered

US, Canada,  Brazil,  Mexico, Germany, U.K., France, Italy, Spain, Russia, Poland, China, Japan, India, ASEAN, Australia, New Zealand, South Africa and GCC Countries

Key Market Segments Covered

Product Type, End User and Region

Key Companies Profiled

  • Medline Industries Inc.
  • Parker Laboratories, Inc.
  • Roscoe Medical
  • Cardinal Health, Inc.
  • ECO-MED Diagnostic Imaging
  • National Therapy Products Inc.
  • Modul Diagram S.r.l
  • Ceracarta Spa
  • DJO Global, Inc.
  • Pharmaceutical Innovation Inc.

Pricing

Available upon Request

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Key Market Segments Covered in Ultrasound conductivity gels Market Research

By Product Type

  • Sterile Gels
  • Non Sterile Gels

By End User

  • Hospitals
  • Clinics
  • Diagnostic Centers
  • Ambulatory Surgical Centers

By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APECJ
  • China
  • Japan
  • Middle East & Africa (MEA)

Key Questions Answered in the Report

How much is the ultrasound conductivity gels market currently worth?

The global ultrasound conductivity gels market is worth US$ 258.1 Mn in 2021.
The ultrasound conductivity gels market is expected to reach US$ 439.1 Mn by the end of 2028, with sales revenue expected to register 7.9% CAGR.
From 2013-2021, the market for ultrasound conductivity gels expanded at the rate of 6.9%.
The U.S., India, Australia, Germany and Italy are expected to drive demand for ultrasound conductivity gels market.
North America is one of the key segments for ultrasound conductivity gels market, with the U.S. expected to account over 95.5% of the North American market during the forecast period.
Demand for ultrasound conductivity gels in Western Europe is expected to register growth of 8.3% over the forecast period.
The U.S., India and Australia and New Zealand are key producers of ultrasound conductivity gels services.
China ultrasound conductivity gels market appears to uphold a share of 6.2% in the global ultrasound conductivity gels market in 2021, and is expected to grow at a CAGR of nearly 8.5% during the forecast period. Japan holds a revenue share of 6.1% globally in 2021, and is expected to grow at a CAGR of nearly 7.7% during the forecast period.

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