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MediPoint: Ultrasound Systems - Global Analysis and Market Forecasts

MediPoint: Ultrasound Systems - Global Analysis and Market Forecasts

  • January 2017
  • 169 pages
  • ID: 4794322
  • Format: PDF
  • GlobalData
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MediPoint: Ultrasound Systems - Global Analysis and Market Forecasts

Summary

Ultrasound systems are widely used to achieve early detection and clinical assessment, providing non-radioactive, cost-effective diagnostic ultrasound imaging in a variety of clinical settings. Ultrasound technology has developed greatly over the past decades, and the market has become mature. With the growth of the elderly population and rising prevalence of diseases worldwide, the need for ultrasound systems is growing consistently. Ultrasound systems space, which covers 39 major markets, is set to rise steadily from $4.2 billion in 2016 to $5 billion by 2023, representing a compound annual growth rate (CAGR) of 2.5%.

The Real-time 3D/4D ultrasound systems lead the market with a steady growth which can be attributed to their effective functionalities and advanced features. 3D ultrasound systems draw a respectable portion of revenue of the ultrasound business due to cost-effective offerings. Additionally, today’s handheld ultrasound systems with better image quality and more advanced modes have consistently gained acceptance.

Tina Deng, MSc, GlobalData’s Analyst covering Medical Devices, explains: “Ultrasound technology has developed greatly over the past few decades, and the market has become mature. With the growth of the elderly population and rising prevalence of diseases worldwide, the need for ultrasound systems is growing consistently.

The European markets will fare the worst with a combined CAGR of 1.3%, as they are very saturated. The modest growth in market volume is largely offset by negative pricing pressures and cost-containment measures in healthcare systems, resulting in only slight revenue growth in the cart-based ultrasound market. However, the increasing demand for point-of-care devices will drive growth in these regions.”

Deng continues: The Asia-Pacific region is the largest market owing to a large patient base, demands for better quality healthcare, and increasing government initiatives from emerging economies to expand healthcare facilities. Indeed, India is the fastest-growing market of all, demonstrating a CAGR of 5.4%. In North America, the primary factor for growth in the ultrasound systems market has been the rise in technological innovation and a continual shift towards cost-effective diagnosis.

In terms of key market players, the competitive landscape in the global ultrasound systems market has remained relatively stable. Market players are subject to intense competition based on product design, performance, pricing, quality, and service. GE is the leader in the ultrasound systems market, followed by Siemens and Philips, as these companies continue to improve on image quality, ease of use, mobility, reliability, and flexibility with a robust portfolio of specialized ultrasound transducers.
Companies Analyzed: 10 companies with detailed profiles: GE Healthcare, Siemens, Philips, Toshiba, Analogic, Esaote, Fujifilm, Hitachi, Mindray, and Samsung.

Scope
- Competitive assessment: Currently marketed ultrasound systems and evolving competitive landscape
- In-depth analysis of unmet needs and adoption trends of different ultrasound systems.
- Insightful review of the key industry drivers, opportunities, restraints and challenges. Each trend is independently researched to provide qualitative analysis of its implications
- Pipeline analysis: Emerging products and technologies.
- Annualized total ultrasound systems market revenue by segment and market outlooks by country from 2014-2023.
- Other key topics covered include strategic competitive assessment, market characterization, identification of unmet needs, market dynamics, and implications of the emerging technologies on the market.

Reasons to buy
The report will enable you to -
- Develop and design your in-licensing and out-licensing strategies through a review of pipeline products and technologies, and by identifying the companies with the most robust pipeline.
- Develop business strategies by understanding the trends shaping and driving the global Ultrasound Systems market.
- Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the global Ultrasound Systems market in the future.
- Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the performance of various competitors.
- Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
- Track device sales in the global and country-specific Ultrasound Systems market from 2014-2023.
- Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.

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