Diagnostic Ultrasound Market : Key Information By Top Key Player | GE Healthcare, Samsung, Hitachi, Siemens, Koninklijke Philips N.V., Toshiba, SIUI, Promed Group, TELEMED Medical, Mindray and Esaote

Diagnostic Ultrasound Market to exceed USD 7 billion by 2024; as per a new research report.
Expanding ageing population pool, having a high prevalence of certain diseases that are amenable to be diagnosed and managed through diagnostic ultrasound use will fuel industry growth over the forecast period. Growing chronic disease incidence especially in Asia Pacific will further augment industry expansion.
Technological developments and advancements are making diagnostic ultrasound more accessible and affordable to the end users, leading to their increased adoption.

Increasing birth rates in certain countries such as Germany will propel industry growth as obstetricians and gynecologists recommend pregnant mothers to undergo ultrasound scans for checking the baby’s form and for obtaining information pertaining to the progress of pregnancy.

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However, scarcity of skilled sonographers especially in countries such as Canada and UK hampers industry growth. Presence of barriers in developing economies such as lack of training, discomfort in image interpretation, absence of support personnel, irregular electrical supply and high machine maintenance cost limits technology adoption.

2D technology which produces a series of flat, two-dimension image of scanned tissues held significant industry share in 2016. However, introduction of more advanced technologies such as 3D, 4D and 5D offering superior image quality as compared to 2D will restrict segment growth.

Compact or handheld ultrasound devices segment is poised to undergo fastest growth over the forecast period owing to the greater convenience and enhanced portability they provide. These devices are increasingly being used in healthcare settings such as ICUs, operating and emergency rooms.

Diagnostic ultrasound application in cardiology held significant industry share. Surge in number of individuals having cardiovascular disorders owing to lifestyle changes such as lack of physical exercise and unhealthy eating habits will fuel segment growth.

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Hospitals end user segment will grow at a rapid pace as larger proportion of the patient pool undergoes ultrasound scans in these settings.

South Africa diagnostic ultrasound market presents a lucrative future opportunity to existing firms and new entrants owing to the presence of large unmet needs and ongoing healthcare infrastructure expansion.
Industry players having a strong foothold include GE healthcare, Koninklijke Philips N.V., Siemens, Hitachi, Samsung and Toshiba. Other notable participants include SIUI, SonoScape Medical, Chison, Mindray, Telemed Medical, Fukuda Denshi and Promed Group. The industry participants undertake rigorous R&D activities for improving device portability, enhancing overall image quality and for broadening application capability. These players resort to various strategies such as launching new products for broadening the existing portfolio, collaborations and acquisitions for increasing their industry share. For instance, in November 2017, Esaote launched MyLab 9 eXP ultrasound system.

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