Ultrasound Devices Market Insights By Top Players GE Healthcare, Koninklijke Philips N.V., Toshiba Medical Corporation

Global Ultrasound Devices Market:

Consistent technological developments in ultrasound devices provide a new edge to diagnostic imaging. Imaging plays a vital role in the diagnosis of major disease conditions, such as cardiovascular and brain diseases, cancer, and kidney and bone diseases. The ultrasound technology has expanded its reach far beyond radiology to provide wide range of clinical specialties, including musculoskeletal and gastroenterological surgeries.

Manufacturers are focused on developing user-friendly, cost-effective, and technologically advanced devices to deliver better diagnostic imaging results. For instance, in November 2019, Koninklijke Philips N.V. developed Philips Lumify, a hand-held ultrasound device, for cardiac patients. For the record, Lumify is an important component of the mobile extracorporeal membrane oxygenation (ECMO) unit, which provides real-time visual guidance to physicians during the process of ECMO cannulation.

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Global Ultrasound Devices Market Dynamics

The global ultrasound devices market was evaluated at US$ 6,230.1 million in 2019 and is projected to grow tremendously, witnessing a CAGR of 1.9% over the forecast period (2020-2027).

Increasing product launches and innovative technological advancements in ultrasound devices are factors likely to propel the global ultrasound devices market growth. For instance, in 2019, JW Medical, a subsidiary company of JW Holdings, marketed ARIETTA 65, an ultrasonic imaging device manufactured by Hitachi Medical Systems, a medical device company.

The company planned to make this product a premium model in the ultrasound equipment category. ARIETTA 65 has employed the elastography function, which allows automatic frame selection and calculates the elasticity of the lesion. Similarly, in 2018, GE Healthcare launched Versana Essential, a new ultrasound system. This system was designed to deliver several advanced capabilities to physicians, making it easier to diagnose and treat potentially serious conditions in a timely manner.

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Ultrasound Devices Market- Regional Insights

The global ultrasound devices market is geographically segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

Among regions, North America is expected to hold a dominant position in the global ultrasound devices market over the forecast period, owing to the rising number of pregnancies and child births every year, as the development of a fetus in the womb is usually monitored with the help of ultrasound imaging. According to the Centers for Disease Control and Prevention (CDC), the total birth count in the U.S. was 3,978,497 in 2016. Birth rate in the region was valued at 12.4 births per 1,000 population, which contributes significantly to the global ultrasound devices market development.

Global Ultrasound Devices Market- Competitive Landscape

The major players operating in the global ultrasound devices market include GE Healthcare, Koninklijke Philips N.V., Toshiba Medical Corporation, Hitachi Medical Corporation, Analogic Corporation, Fujifilm Corporation, Siemens Healthcare, Samsung Medison Co. Ltd., and Esaote S.p.A.

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