Ultrasound Devices Market Evolving Technology, Demand and Growth Outlook 2021 to 2026 - Analogic Corporation, Canon Medical Systems Corporation, Carestream Health

The “Global Ultrasound Devices Market” Research Report 2021-2026 is an in-depth study of the market, along with an analysis of its key segments. The relationship is built through extensive primary and secondary research. In-depth market data is generated through interviews and data collection from industry experts and professionals. The study is a detailed document on key aspects of the markets including trends, segmentation, growth prospects, opportunities, challenges, and competitive analysis.

The ultrasound devices market was valued at USD 7,455 million in 2020 and is expected to reach USD 9,265 million in 2026, registering a CAGR of nearly 3.69 % during the forecast period.

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The research report is a compilation of key data with regards to the competitive landscape of this vertical and the multiple regions where the business has successfully established its position.

Top Companies in the Global Ultrasound Devices Market: Analogic Corporation, Canon Medical Systems Corporation, Carestream Health, Chison Medical Technologies Co., Ltd., Clarius Mobile Health, Cura Healthcare, Fujifilm Holdings Corporation, GE Healthcare, Hitachi Medical Corporation, Hologic Inc., Koninklijke Philips NV, Mindray Medical International Limited, and Other.

Market Overview:

COVID-19 is having an unimaginable impact on the world and has altered almost every aspect of the healthcare industry. The pandemic has also had a complex and unprecedented effect on the ultrasound market. Healthcare providers are deploying the potential of ultrasound diagnosis, primarily for point-of-care (POC) applications, for the triage, monitoring, and diagnosis of COVID-19 patients. As per an article published on BioMed Central Ltd in June 2020, lung ultrasound (LUS) has shown superior sensitivity when compared to X-ray in patients with acute respiratory failure and LUS may be a more feasible and practical alternative. Also, in Italy, LUS has been proposed as an alternative to CT Scan for suspected cases of COVID-19.

In November 2020, GE Healthcare expanded AI, Digital, and Imaging Solutions and unveiled a slate of new intelligently efficient solutions that includes LOGIQ E10 Series, ultrasound systems that harness artificial intelligence (AI) technology to drive workflow productivity during the Covid-19 Crisis.

The burden of chronic disease is rapidly increasing all around the world. Currently, affecting more than 14 million people around the world. For instance, in 2018, the University of California San Francisco stated that nearly 750,000 patients per year in the United States and an estimated 2 million patients worldwide are affected by kidney failure. The prevalence of various other chronic diseases, such as cardiovascular, neurological, cancer is becoming a major concern for the healthcare sectors across the world. According to a study published by the World Health Organization (WHO) in September 2018, cancer accounted for 9.6 million death in 2018 worldwide. Globally 1 in 6 death occur due to cancer and cancer is the second leading cause of death worldwide.

Regional Analysis:

North America Holds the Largest Market Share and is Expected to Continue doing so over the Forecast Period

When Covid -19 has created havoc in this region and various diagnostic imaging facilities going down, Intelligent Ultrasound Group took this as an opportunity to increase the ground of its Point-of-Care Ultrasound simulator in this region and launched a COVID-19 training module for its state of the art BodyWorks Point-of-Care Ultrasound simulator. To train healthcare providers to rapidly acquire and practice lung ultrasound skills in the diagnosis of COVID-19.

The factors responsible for the growth of the North American ultrasound market is the government and private funding for R&D in ultrasound imaging, the increasing number of healthcare providers, the increasing geriatric population, and rising incidences of chronic diseases. According to the National Health Council, by end of 2020 chronic diseases will affect approximately 157 million Americans, with 81 million having multiple conditions. About half of all adults in America have a chronic condition, and approximately 8 % of children aged 5 to 17 were reported by their parents to have limited activities due to at least one chronic disease or disability during that year. According to the study, this number will continue to increase, and more and more people are living with not just one chronic illness but with multiple such as diabetes, heart diseases, neurological disorders, and cancer. Also, in February 2019, the American College of Cardiology, reported that by the end of 2019 10,55,000 individuals would suffer from coronary events including 720,000 new and 335,000 recurrent coronary events.

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What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a Global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: The Global Ultrasound Devices Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

The research includes historic data from 2015 to 2021 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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