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The global market for ultrasound devices is expected to grow at a CAGR of 4.50% from 2024 to 2031, reaching a value of USD 16.36 Billion. Factors such as increasing use of ultrasound equipment for diagnostic imaging and treatment, rising incidence of chronic and lifestyle illnesses, and advancements in ultrasonography technology are driving market growth. However, the COVID-19 pandemic has caused challenges for the healthcare industry, including delayed installations and manufacturers’ focus on providing COVID-critical devices.