Ultrasound Market

Market Leader - Ultrasound Market

The ultrasound market is projected to reach USD 8.2 billion by 2025 from USD 6.1 billion in 2020, at a CAGR of 6.1% during the forecast period. Factors such as the increasing prevalence of target diseases, rising patient preference for minimally invasive procedures, technological advancements, increasing number of diagnostic centers & hospitals, and the growing public and private investments, funding, and grants are driving the growth of the ultrasound market. However, stringent government regulations may restrict the growth of this market to a certain extent.

The analysis of market developments between 2017 and 2020 has revealed that several growth strategies, such as product launches, product approvals, acquisitions, partnerships, and agreements were adopted by market players to strengthen their product portfolios and maintain a competitive position in the ultrasound market. Product approvals and launches were the most widely adopted growth strategies by market players in the last three years to garner a larger share of the market. In 2019, the ultrasound market was dominated by GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Canon Medical Systems Corporation (Japan), Hitachi, Ltd. (Japan), and Siemens Healthineers AG (Germany).

To know about the assumptions considered for the study, download the pdf brochure

GE Healthcare (US): GE Healthcare (a key business division of General Electric Company) is among the top players engaged in the development and manufacturing of diagnostic ultrasound systems. The company focuses on maintaining its leadership position in the ultrasound market through pipeline development and product commercialization. From 2017 to 2020, the ultrasound market witnessed the commercialization of key ultrasound products by GE Healthcare, including the Versana Premier ultrasound system, Invenia Automated Breast Ultrasound (ABUS) 2.0 system, and Versana Essential ultrasound. Over the years, GE Healthcare has strengthened its customer base and increased its market penetration in major ultrasound markets, such as the US, Europe, Asia, and Africa. The company pursues inorganic growth strategies such as collaborations, agreements, and partnerships to expand its global presence in the ultrasound market. For instance, in 2018, Trice Imaging (US) expanded its partnership with GE for product enhancement for GE’s LOGIQ E10.

Philips (Netherlands): Philips focuses on developing and introducing technologically advanced products in the market to sustain its leading position and to further increase its share in the ultrasound market. The company has launched various novel ultrasound products in the market, such as the EPIQ Elite ultrasound system, as well as an integrated breast ultrasound solution for breast assessment. Also, the recent approvals from the US FDA for its EPIQ series, Affiniti series, Lumify, and CX50 and Sparq diagnostic ultrasound systems to be used for COVID-19 assessment will further boost the company’s share in the market.

Related Reports:

Ultrasound Market by Technology [Diagnostic (2D, 3D, Doppler), Therapeutic (HIFU, ESWL)], Display (Color, B&W), Portability (Trolley, Compact, POC), Applications (Gynecology, Urology, Cardiology, Orthopedic), End user (Hospitals) and Region - Global Forecasts To 2025

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Report Code
MD 2885
RI Published ON
8/4/2020
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Ultrasound Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2021 MarketsandMarkets Research Private Ltd. All rights reserved