Global Ultrasound Systems Market: Technological Improvements Steering Growth during 2017-2022

Posted on 2018-12-28 by Mark Hub in Healthcare // 0 Comments

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Ultrasound systems are imaging devices that employ high-frequency sound waves for capturing live images from inside of the patient’s body. Ultrasound as a scanning method is often synonymous to sonography. Ultrasound systems are predominantly used in pregnancy diagnostics, but these systems can also procure accurate images in all other fields of diagnostics as well. Precise medical imaging has a controlling influence over the efficacy of subsequent procedures, which is why medical professionals continue to prefer accurate imaging methods such as ultrasound.

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The FactMR report on global market for ultrasound systems accedes to this notion, projecting a steady growth in the global demand for ultrasound systems during 2017-2022. According to the report, the Global Ultrasound Systems Market will reach US$ 6 Bn value by the end of 2017. Ultrasound imaging systems will continue to gain ground due to their affordable costs and higher accuracy, particularly for diagnostic imaging during pregnancy. Towards the end of 2022, the global ultrasound systems market value is anticipated to soar steadily at 5.5% CAGR, bringing in revenues worth over US$ 7.8 Bn.

Ultrasound makes Headway in Cardiology

The report reveals that ultrasound systems are paramount in gynecological imaging, even so a major share of ultrasound systems sold globally are accounted by cardiology diagnostics. Rising incidence rate of myocardial infarction and angina in the world is making the use of ultrasound systems imperative in the field of cardiology. Between 2017 and 2022, the global sales of ultrasound systems in cardiology applications are expected to create an incremental opportunity of more than US$ 430 Mn.

Standalone Ultrasound Systems to Remain Indispensable

Portability of ultrasound systems is becoming a governing factor for boosting its global sales. Preference to portable ultrasound systems will be distinctly high across all medical settings. During the forecast period, global revenues accounted by sales of portable ultrasound systems are anticipated to exhibit growth at a surging CAGR of 6.4%. While portable ultrasound systems will mark a little over 17% share on global revenues through 2022, the market will continue to witness foremost demand for standalone ultrasound systems. In 2017, the global market for ultrasound systems is pegged to rake in revenues worth over US$ 4.2 Bn, exclusively from the sales of standalone ultrasound systems.

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High Demand across Radiology Departments in Hospitals

Ultrasound is staple imaging technology in independent radiology centers as well as radiology departments in hospitals. With increasing demand for radiotherapy, the adoption of ultrasound systems is slated to rise across all general hospitals. The report observes hospitals as the largest end-user of ultrasound systems in the global market, projecting that this segment will account for approximately 50% of the global market revenues through 2022. Diagnostic centers are also expected to account for greater end-use of ultrasound systems in the global market. By the end of 2022, more than US$ 1.5 Bn worth of revenues will be reaped from global sales of ultrasound systems in diagnostic centers.

Competitive Tracking

The report has profiled leading manufacturers of ultrasound systems as the key players in the market. With advancements in imaging technologies, manufacturers are expected to focus more on offering ultrasound systems with more integrated features. Companies such as Koninklijke Philips N.V., General Electric Company, Toshiba Corporation, Hitachi Ltd., Siemens AG, Shimadzu Corporation, Analogic Corporation, Fujifilm Holdings Corporation, Samsung Electronics Co. Ltd., and Esaote SpA are likely to be observed as active participants in the global ultrasound systems market during the forecast period.

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