Diagnostic Ultrasound Market forecasts on regional growth, industry players | GE Healthcare, Koninklijke Philips N.V., Siemens Healthcare, Samsung, Toshiba Medical Systems Corporation, Hitachi Medical Systems, Esaote SpA 74, Analogic Corporation, Chison,

Diagnostic Ultrasound Market was valued over USD 5 billion in 2016, with growth forecast to witness more than 3% CAGR from 2017 to 2024 ; according to a new research study published by Global Market Insights, Inc.

Increasing birth rate in certain countries serves as a high impact rendering factor. During the pregnancy period, healthcare practitioners recommend women to undergo ultrasound scan to check the form of the baby inside the womb. Ability of the technique to detect anomalies in baby’s position and actions inside the mother’s womb which may lead to harmful diseases further propels its adoption.

Ultrasound devices are witnessing a transition from trolley based, single use systems to highly portable, versatile and multiuse systems. Rapid technological advancements in microelectronics and sensors coupled with improvement in image quality and expansion of applications will propel ultrasound system adoption rates.

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Dearth of skilled ultrasound technicians and sonographers especially in countries such as UK and Canada hinder industry expansion. Lack of availability of these skilled professionals is resulting in increased patient waiting time for ultrasound examinations and underuse of the equipment.

Existence of barriers such as lack of training, high machine maintenance cost, absence of support personnel, lack of gel, irregular electrical supply, discomfort in image interpretation and liability concerns hamper technology adoption in developing countries.

Compact or handheld ultrasound devices segment will grow at the fastest pace during the forecast period as they offer greater convenience due to their small size and light weight. Furthermore, they are highly beneficial for medical professionals practicing in acute care settings where transportation of the patient may be difficult owing to the constantly changing health condition.

2D technology held significant industry share in 2016 being the most common and traditional method used for scanning. The technology produces a series of flat, two-dimensional image of the scanned tissue. Increasing usage of newer technologies such as 3D, 4D and 5D which provide a more detailed and realistic image as compared to 2D will impede segment growth.

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Application of the technology in cardiology held significant industry share. Increasing number of people suffering from cardiovascular diseases such as stroke will drive segment growth over the forecast timeframe.

Hospitals end user segment is slated to grow at a robust rate owing to increasing influx of patients undergoing ultrasound scans in these settings. Expansion of hospitals and development of new ones will further spur growth.

China diagnostic ultrasound market held significant industry share. Increasing healthcare expenditure, growing disease burden along with increasing desire for and utilization of more advanced technologies in healthcare facilities will drive industry growth.

Prominent industry players include :-

• GE Healthcare
• Koninklijke Philips N.V.
• Siemens Healthcare
• Samsung
• Toshiba Medical Systems Corporation
• Hitachi Medical Systems
• Esaote SpA 74
• Analogic Corporation
• Chison
• Kalamed GmbH
• Promed Group
• Telemed
• SIUI
• C.R. Bard Inc
• Shenzhen Landwind Industry Co., Ltd
• Vinno Corporation
• SonoScape Medical Corporation
• Mindray
• Fukuda Denshi
• Sunway Medical

The industry participants adopt various strategies such as acquisitions, new product development and launch for expanding their industry foothold. For instance, in March 2016, Mindray launched Resona 7 in Europe.

Report Content

Chapter 1 Methodology
1.1 Methodology
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry insights and validation
1.1.4 Market definition and forecast parameters
1.2 Data Sources
1.2.1 Secondary
1.2.2 Primary

Chapter 2 Executive Summary
2.1 Ultrasound industry 3600 synopsis, 2013 - 2024
2.1.1 Business trends
2.1.2 Technology trends
2.1.3 Portability trends
2.1.4 Application trends
2.1.5 End use trends
2.1.6 Regional trends

Chapter 3 Ultrasound Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 – 2024
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.1.1 Growing geriatric population base
3.3.1.2 Increasing chronic disease incidence in Asia Pacific
3.3.1.3 Increasing birth rates in developing countries
3.3.1.4 Technological innovations and advancements
3.3.2 Industry pitfalls & challenges
3.3.2.1 Dearth of skilled professionals especially in UK, Canada and Australia
3.3.2.2 Barriers impeding use of ultrasound in developing economies
3.4 Growth potential analysis
3.4.1 By technology
3.4.2 By portability
3.4.3 By application
3.5 Technology landscape
3.6 Porter’s analysis
3.7 Competitive landscape, 2016
3.7.1 Strategy dashboard
3.8 PESTEL analysis

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

This release was published on openPR.