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Ultrasound Devices Market Forecasts up to 2025

  • Published Date: 15 Jan 2019
  • Number of Pages: 118
  • Category: Healthcare and Medical
  • Country: Global
Overview
Ultrasound systems are high-frequency machines used for multiple applications. It enables to visualize the various internal body structures and is widely used in the medical field. Its high-frequency sound waves help to visualize the organs and structure of the body. Ultrasound imaging is considered as the safest imaging technique widely used across areas such as urology, cardiology, radiology, and others. It is one of the most vital application in detecting and viewing of the fetus in the womb of a pregnant woman. Ultrasound systems are used extensively in the field of medical imaging as it helps the physician to evaluate, diagnose, and treat various medical conditions. The strength (amplitude) of the sound signal and the time taken for the sound wave to travel through the body and collects the information which forms the image. Since many years the ultrasound imaging is used and it has reached the excellent safety record among all imaging modalities. It is generally considered as the safest imaging machine when appropriately used by trained healthcare providers. The energy by the machine has the potential to produce biological effects on the body.
Market Scenario
The market has witnessed steady growth in the past few years and development in technology with the introduction of light weight, compact, and easy to use portable ultrasound devices have increased the acceptance of ultrasound devices in the market. The market is fueled by innovation and new technological techniques & procedures. The increase in demand for more advanced & customized diagnosis and treatment with availability of vast healthcare services globally have pushed the market to produce safe, efficient, and cost-effective products in the market. The last couple of decades have witnessed an unparalleled growth in advanced and innovative technologies, which has resulted in the development of state-of-the-art medical device industry. Diagnostic imaging is one of the major industries in healthcare, which has adopted to constant changes and continues to grow consistently. Most of the leading medical device companies focus in developing high-quality imaging data by delivering real-time images that provide assessment of various tissue pathophysiology based on different spectral characteristic of the tissue.
Factors such as aging, progressive health condition, hypertension, alcohol consumption, secondary medical conditions such as depression, cardiovascular, and other serious medical conditions, the sales of ultrasound devices are expected to increase during the forecast period due to technological adoption of ultrasound devices in hospitals.


Key Players
The market is dominated by GE Healthcare, Philips Healthcare, Siemens Healthcare, Fujifilm Holdings Corp., Canon Medical Systems, Hitachi Medical, Hologic, and Carestream have the maximum revenue generation in the global ultrasound devices market.
Market Analysis The global ultrasound devices market is estimated to witness a CAGR of 8.4% during the forecast period 20182024. The market is analyzed based on five segments, namely product type, imaging type, application type, end-users, and regions.
Regional Analysis The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). In North America, the US and Canada are the leading countries owing to the highest number of diagnostic cases in 2018. Increasing aging population is one among the primary risk factors for various chronic diseases. With growing technological advancement and innovation in many healthcare services it has led to an increase in their target segments to provide a complete diagnostic setup. It is attributed with numerous technologies in healthcare industry and the medical devices sector especially the general surgery devices which is one of the vital segments of the medical field. This region dominates the overall presence of ultrasound devices and has the most diversified ultrasound systems available in the market. It has the highest percentage of elderly population with many individuals with chronic diseases such as CVD, diabetes, obesity, high blood pressure, and other urology related factors. This has attracted most of the vendors to sustain and grow over the period and maintain their product presence in the market.
Europe is set to be the second leading region and held more than 25% of the market share in 2018. The market in Europe was largely driven by advances in ultrasound technologies. Factors such as increase in the prevalence of diseases, continuous adoption of advanced technologies, and increasing aging population are driving the market. The leading countries are Germany, France, UK, and Italy to the market.
The APAC region is the fastest growing region in the global ultrasound devices market in 2018.
Competitive Analysis The global ultrasound devices market has massive growth opportunities in both developed and developing regions. The advances in technology and product upgradation will increase the competition among vendors. Many vendors are focusing on developing advanced technological ultrasound devices to upgrade their product portfolio that intensifies the market competition. Manufacturers have formulated various strategies for developing innovative ultrasound devices that are able to compete in the market.
Siemens Healthcare, GE Healthcare, Philips Healthcare, Canon Medical Systems, and Fujifilm Holdings Corp dominated the market in 2018. Other companies like Hologic, Hitachi Medical, Carestream Health, and Esaote SpA have negligible share and will compete strongly with the leading vendors in the market. The benefits such as safety, high quality images, easy monitoring and analysis of 3D images, obtaining high resolution images to show small breast cancers, and combination with multi-imaging systems have increased the demand of ultrasound devices in the market.
Key competitive facts
The market is highly competitive with all the players competing to gain market shares. Intense competition, rapid advancements in technology, frequent changes in government policies, and the prices are key factors that confront the market.
The requirement of high initial investment, implementation, and maintenance cost in the market are also limiting the entry of new players.
Benefits The report provides complete details about the usage and adoption rate of ultrasound devices market. Thus, the key stakeholders can know about the major trends, drivers, investments, vertical players initiatives, and government initiatives towards the medical devices segment in the upcoming years along with details of the pureplay companies entering the market. Moreover, the report provides details about the major challenges that are going to impact the market growth. Additionally, the report gives complete details about the key business opportunities to key stakeholders in order to expand their business and capture the revenue in specific verticals, and to analyze before investing or expanding the business in this market.
Key Stakeholders


Publisher Name : Infoholic Research

1 Industry Outlook 10
1.1 Medical Devices Industry 10
1.1.1 Overview 10
1.1.2 Geography 10
1.1.3 Medical technologies 11
1.1.4 Industry Trends 12
1.2 Healthcare Spending in the US 14
1.3 Regulatory Bodies & Standards 14
1.4 Reimbursement Scenario 15
1.5 Emerging Global Markets 16
1.6 Patient Demographics 17
1.7 Definition: Ultrasound System 19
1.7.1 Ultrasound 19
1.7.1.1 Overview 19
1.7.2 Why ultrasound systems? 20
1.8 Healthcare Spending in the US 20
1.9 Regulatory Bodies & Standards 21
1.10 Emerging Global Markets 22
1.11 PESTLE Analysis 23
2 Report Outline 25
2.1 Report Scope 25
2.2 Report Summary 25
2.3 Research Methodology 26
2.4 Report Assumptions 27
3 Market Snapshot 28
3.1 Total Addressable Market (TAM) 28
3.2 Segmented Addressable Market (SAM) 31
3.3 Strategic Initiatives 34
3.4 Related Markets 35
3.4.1 Medical Imaging Devices 35
3.4.2 Medical X-ray Equipment 35
3.4.3 MRI Equipment 35
3.4.4 Mammography Devices 35
3.4.5 Healthcare X-ray Detectors 36
3.5 Porter 5 (Five) Forces 36
4 Market Characteristics 38
4.1 Market Segmentation, By Product Type 38
4.1.1 Stationary ultrasound devices 39
4.1.2 Portable ultrasound devices 40
4.2 Ultrasound Devices Market, By Imaging Type 42
4.2.1 2D Imaging 42
4.2.2 3D Imaging 42
4.2.3 4D imaging 43
4.3 Ultrasound Devices Market, By Application Type 43
4.3.1 Radiology 44
4.3.2 Cardiovascular 44
4.3.3 Gynaecology/obstetrics 44
4.3.4 Musculoskeletal 45
4.3.5 POC 45
4.3.6 Others 45
4.4 Market Dynamics 45
4.4.1 Drivers 46
4.4.1.1 Increase in adoption of advanced ultrasound systems 46
4.4.1.2 Increase focus in improving the quality of care in surgical patients 47
4.4.1.3 Rise in number of diagnostic centers 47
4.4.1.4 Increased adoption of 3D and 4D ultrasound equipment 47
4.4.2 Restraints 47
4.4.2.1 Stringent regulations for approval 47
4.4.2.2 Inadequate reimbursement policies 48
4.4.2.1 Intense competition among vendors 48
4.4.2.2 Lack of skilled radiologists 48
4.4.3 Opportunities 48
4.4.3.1 Technological advancement Real-time 3D 48
4.4.3.2 Increase in the number of outpatient procedures 49
4.4.3.3 Increased healthcare spending 49
4.4.3.4 Market expansion opportunities in emerging nations 49
4.4.4 DRO Impact Analysis 50
4.5 Key Stakeholders 51
5 End-Users 52
5.1 Overview 52
5.2 Hospitals 53
5.3 Ambulatory Care 53
5.3.1 ASCs in the Americas 54
5.3.1.1 US 54
5.3.1.2 Canada 54
5.3.1.3 Mexico 54
5.3.1.4 Cuba 54
5.3.2 ASCs in EMEA 54
5.3.2.1 UK 54
5.3.2.2 Germany 54
5.3.2.3 France 55
5.3.2.4 Israel 55
5.3.2.5 Africa 55
5.3.3 ASCs in APAC 55
5.3.3.1 Australia 55
5.3.3.2 Japan 55
5.3.3.3 India 55
5.3.3.4 China 55
5.4 Diagnostic Centers 56
5.5 Others (Research Centers, Non-Profit Organizations, and Nursing Home) 56
6 Regions 58
6.1 Overview 58
6.2 North America 60
6.2.1 Market overview 60
6.3 Europe 60
6.3.1 Market overview 60
6.4 APAC 62
6.4.1 Market overview 62
6.5 Rest of the World 63
6.5.1 Market overview 63
7 Competitive Landscape 66
7.1 Competitor Comparison Analysis 66
8 Vendor Profiles 67
8.1 GE Healthcare 67
8.1.1 Overview 67
8.1.2 Business Units 73
8.1.3 Geographic Revenue 75
8.1.4 Business Focus 75
8.1.5 SWOT Analysis 76
8.1.6 Business Strategies 76
8.2 Philips Healthcare 77
8.2.1 Overview 77
8.2.2 Business Units 84
8.2.3 Geographic Revenue 85
8.2.4 Business Focus 85
8.2.5 SWOT Analysis 86
8.2.6 Business Strategies 86
8.3 Siemens Healthineers Inc. 87
8.3.1 Overview 87
8.3.2 Business Units 92
8.3.3 Geographic Revenue 94
8.3.4 Business Focus 94
8.3.5 SWOT Analysis 95
8.3.6 Business Strategies 95
8.4 Fujifilm Holdings Corp. 96
8.4.1 Overview 96
8.4.2 Business Units 100
8.4.3 Geographic Revenue 101
8.4.4 Business Focus 101
8.4.5 SWOT Analysis 102
8.4.6 Business Strategies 102
8.5 Canon Medical Systems Corp. 103
8.5.1 Overview 103
8.5.2 Business Segments 106
8.5.3 Geographic Revenue 106
8.5.4 Business Focus 107
8.5.5 SWOT Analysis 107
8.5.6 Business Strategies 108
9 Companies to Watch for 109
9.1 Hitachi Medical Corp. 109
9.1.1 Overview 109
9.1.2 Business Focus 111
9.1.3 Business Strategies 111
9.2 Carestream Health Inc. 111
9.2.1 Overview 111
9.2.2 Key Highlights
112
9.2.3 Key News 112
9.3 Hologic Corp. 113
9.3.1 Overview 113
9.3.2 Key Highlights
113
9.3.3 Key News 113
10 Other Vendors 115
Annexure 117
Abbreviations 117



List Of Tables



TABLE 1 MEDICAL DEVICES BY CATEGORY 29
TABLE 2 TOP LISTED MEDICAL DEVICES COMPANY 2018 29
TABLE 3 GLOBAL ULTRASOUND DEVICES MARKET BY END-USERS 56
TABLE 4 GLOBAL ULTRASOUND DEVICES REVENUE BY REGIONS FORECAST, 20192025 ($MILLION) 59
TABLE 5 GE HEALTHCARE: PRODUCT OFFERINGS 67
TABLE 6 GE HEALTHCARE: RECENT DEVELOPMENTS 68
TABLE 7 PHILIPS HEALTHCARE: PRODUCT OFFERINGS 77
TABLE 8 PHILIPS HEALTHCARE: RECENT DEVELOPMENTS 79
TABLE 9 SIEMENS HEALTHINEERS INC.: RECENT DEVELOPMENTS 87
TABLE 10 SIEMENS HEALTHINEERS INC.: RECENT DEVELOPMENTS 88
TABLE 11 FUJIFILM HOLDINGS CORP.: OFFERINGS 96
TABLE 12 FUJIFILM HOLDINGS CORP.: RECENT DEVELOPMENTS 96
TABLE 13 CANON MEDICAL SYSTEMS CORP.: OFFERINGS 103
TABLE 14 CANON MEDICAL SYSTEMS CORP.: RECENT DEVELOPMENTS 103
TABLE 15 SNAPSHOT OF HITACHI MEDICAL 109
TABLE 16 HITACHI MEDICAL CORP.: RECENT DEVELOPMENTS 109
TABLE 17 CARESTREAM HEALTH INC.: SNAPSHOT 111
TABLE 18 HOLOGIC CORP.: SNAPSHOT 113




List Of Figures



CHART 1 GLOBAL MEDICAL DEVICES MARKET SEGMENTATION 11
CHART 2 IMPERATIVES OF EMERGING MARKETS 17
CHART 3 US POPULATION DISTRIBUTION BY AGE 2017 18
CHART 4 US HEALTHCARE CONSUMPTION BY AGE 2017 18
CHART 5 WORLD POPULATION AGED 65 YEARS AND ABOVE, 19602060 (%) 19
CHART 6 IMPERATIVES OF EMERGING MARKETS 22
CHART 7 PESTLE ANALYSIS OF ULTRASOUND DEVICES MARKET 23
CHART 8 RESEARCH METHODOLOGY OF GLOBAL ULTRASOUND DEVICES MARKET 26
CHART 9 ULTRASOUND MARKET OUTLOOK 31
CHART 10 GLOBAL ULTRASOUND DEVICES MARKET REVENUE, 20182025 ($MILLION) 33
CHART 11 OPPORTUNITY ANALYSIS 34
CHART 12 PORTERS 5 FORCES ON ULTRASOUND DEVICES MARKET 36
CHART 13 GLOBAL ULTRASOUND DEVICES MARKET SEGMENTATION 38
CHART 14 GLOBAL ULTRASOUND DEVICES MARKET 2018-2025 38
CHART 15 GLOBAL ULTRASOUND DEVICES MARKET OVERVIEW BY PRODUCTS 2017 ($MILLION) 39
CHART 16 GLOBAL ULTRASOUND DEVICES SYSTEMS MARKET REVENUE, 20182025 ($MILLION) 40
CHART 17 PORTABLE ULTRASOUND DEVICES MARKET, 20182025 ($MILLION) 41
CHART 18 GLOBAL ULTRASOUND DEVICES MARKET BY PRODUCT, 20172024 ($MILLION) 41
CHART 19 GLOBAL ULTRASOUND DEVICES MARKET SEGMENTATION BY PRODUCT, 20172024 (%) 41
CHART 20 GLOBAL ULTRASOUND DEVICES MARKET SEGMENTATION 43
CHART 21 GLOBAL ULTRASOUND DEVICES MARKET SEGMENTATION IN 2018 (%) 44
CHART 22 MARKET DYNAMICS DRIVERS, RESTRAINTS & OPPORTUNITIES 45
CHART 23 DRO - IMPACT ANALYSIS OF ULTRASOUND DEVICES MARKET 50
CHART 24 KEY STAKEHOLDERS 51
CHART 25 GLOBAL ULTRASOUND DEVICES MARKET BY END-USER SEGMENTATION, 2018 (%) 52
CHART 26 GLOBAL ULTRASOUND DEVICES MARKET BY GEOGRAPHICAL SEGMENTATION, 2017 AND 2024 (%) 58
CHART 27 GLOBAL ULTRASOUND DEVICES MARKET OVERVIEW BY REGIONS 2018 ($MILLION) 59
CHART 28 ULTRASOUND DEVICES MARKET REVENUE IN NORTH AMERICA, 2018-2025 ($MILLION) 60
CHART 29 ULTRASOUND DEVICES MARKET REVENUE IN THE EUROPE, 20182025 ($MILLION) 61
CHART 30 ULTRASOUND DEVICES MARKET REVENUE IN THE APAC, 20182025 ($MILLION) 62
CHART 31 ULTRASOUND DEVICES REVENUE IN THE REST OF THE WORLD, 20182025 ($MILLION) 64
CHART 32 GLOBAL ULTRASOUND DEVICES MARKET SEGMENTATION BY GEOGRAPHY, 20182025 ($MILLION) 64
CHART 33 GLOBAL ULTRASOUND DEVICES MARKET SEGMENTATION BY GEOGRAPHY, 20182025 (%) 65
CHART 34 GE HEALTHCARE: OVERVIEW SNAPSHOT 72
CHART 35 GE HEALTHCARE: BUSINESS UNITS 73
CHART 36 GE HEALTHCARE: GEOGRAPHIC REVENUE 75
CHART 37 GE HEALTHCARE: SWOT ANALYSIS 76
CHART 38 PHILIPS HEALTHCARE: OVERVIEW SNAPSHOT 82
CHART 39 PHILIPS HEALTHCARE: BUSINESS UNITS 84
CHART 40 PHILIPS HEALTHCARE: GEOGRAPHIC REVENUE 85
CHART 41 PHILIPS HEALTHCARE: SWOT ANALYSIS 86
CHART 42 SIEMENS HEALTHINEERS INC.: OVERVIEW SNAPSHOT 91
CHART 43 SIEMENS HEALTHINEERS INC.: BUSINESS UNITS 92
CHART 44 SIEMENS HEALTHINEERS INC.: GEOGRAPHIC REVENUE 94
CHART 45 SIEMENS HEALTHINEERS INC.: SWOT ANALYSIS 95
CHART 46 FUJIFILM HOLDINGS CORP.: OVERVIEW SNAPSHOT 99
CHART 47 FUJIFILM HOLDINGS CORP.: BUSINESS UNITS 100
CHART 48 FUJIFILM HOLDINGS CORP.: GEOGRAPHIC REVENUE 101
CHART 49 FUJIFILM HOLDINGS CORP.: SWOT ANALYSIS 102
CHART 50 CANON MEDICAL SYSTEMS CORP.: OVERVIEW SNAPSHOT 104
CHART 51 CANON MEDICAL SYSTEMS CORP.: SEGMENT SALES 106
CHART 52 CANON MEDICAL SYSTEM CORP.: GEOGRAPHIC REVENUE 106
CHART 53 CANON MEDICAL SYSTEMS CORP.: SWOT ANALYSIS 107




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