Phased Array Ultrasonic Transducer Market Likely to Incredible Growth by 2027 | B K Medical Systems, Koninklijke Philips N.V., GE Healthcare

The global phased array ultrasonic transducer market is expected to propel growth over the forecast period, due to major companies are focused on new product launches and product approvals. For instance, in 2016, Koninklijke Philips N.V, a medical device manufacturing company, received approval for marketing of innovative S4-1 cardiac transducer for Lumify from the U.S. Food Drug and Administration. S4-1 cardiac transducer is a small sized transducer with high-resolution 2D imaging qualities and highly sensitive in diagnosis procedures, thus allowing physicians to obtain quick results and easy diagnosis.

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Key Players in This Report Include B K Medical Systems Inc, Koninklijke Philips N.V., GE Healthcare, Spacelabs Healthcare, SonoScape Medical Corp, Edan Instruments Inc, Samsung Healthcare, Mindray Medical International Limited, Esaote, FUJIFILM Medical Systems, Siemens Healthineers AG, Canon Medical Systems Corporation, and Butterfly Network Inc

• Major companies are focusing on a variety of programs to overcome the difficulties caused by the COVID-19 epidemic such as the difficulty of conducting diagnostic procedures due to the development of social distancing norms. For instance, in June 2020, Koninklijke Philips N.V, a medical device manufacturing company, launched an innovative wireless, wearable transducer Avalon CL Fetal and Maternal Pod and Patch to monitor mothers in labor and their fetus. Avalon CL Fetal and Maternal Pod and Patch are approved by the U.S. Food Drug and Administration under the COVID-19 guidelines as a wearable transducer for obstetrics monitoring application in pregnant females.

• According to the Ultrasound Journal Article of June 2020, lung ultrasound (LUS) is a medical imaging technique that allows to examine for pulmonary periphery of the lungs, making it an excellent procedure for COVID-19 testing. Lung ultrasound (LUS) plays an important role in identifying lesions identified in pleural and sub-pleural areas of lung in COVID-19 infected patients.

• Therefore, phase-based ultrasonic transducers are used by health care professionals to detect lesions formed in critically ill patients and various programs undertaken by device manufacturers such as Koninklijke Philips NV by introducing new wireless transducers to eliminate physical contact to reduce the spread of covid-19 infections. These factors are expected to hinder growth of the global phased array ultrasonic transducer market in a positive way.

• The global phased array ultrasonic transducer market is expected to register significant growth over the forecast period, as various companies are focused on strategies such as mergers and acquisition to hold their position in the global phased array ultrasonic transducer market.

For instance, in 2019, Neusoft Medical Systems, a leading global clinical diagnosis and treatment solutions providing company, acquired Humanscan, a leading manufacturer of high-end probes across the world. Through this acquisition, Neusoft Medical systems will improve its global industrial chain in medical imaging and ultrasound medical device market.

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• The global phased array ultrasonic transducer market is expected to register a CAGR of 4.80 % during the forecast period, due to increasing number of product approvals and innovation and development of advanced technology in ultrasonic transducers.

• On the basis of type, the linear array segment is estimated to hold a dominant position in the global phased array ultrasonic transducer market in 2020, due to safety and efficacy concerns in medical imaging procedures such as cardiac examinations and brain examinations.

• On the basis of application, cardiovascular segment is estimated to hold a dominant position in the global phased array ultrasonic transducer market in 2020, due to rising number of cardiovascular disease conditions worldwide.

• Among end users, hospitals segment is estimated to hold a dominant position in the global phased array ultrasonic transducer market in 2020, due to rising incidence of diagnostic procedures such as medical ultra-sonography.

• Key players involved in the global phased array ultrasonic transducer market such as Koninklijke Philips N.V., GE Healthcare, B K Medical Systems Inc., SonoScape Medical Corp, Spacelabs Healthcare, Edan Instruments Inc., Mindray Medical International Limited, Samsung Healthcare, Esaote, FUJIFILM Medical Systems, Siemens Healthineers AG, Butterfly Network Inc., and Canon Medical Systems Corporation.

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