Global Ultrasound Devices Market 2018-2025 with GE Healthcare, Philips Healthcare, Siemens Healthcare, Fujifilm, Canon Medical Systems, Hitachi Medical, Hologic, and Carestream Dominating
DUBLIN, Jan. 30, 2019 /PRNewswire/ --
The "Ultrasound Devices Market Forecasts up to 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Ultrasound Devices Market is Estimated to Witness a CAGR of 8.4%
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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 2018-2024. 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 portfoli- 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.
Key Topics Covered:
1 Industry Outlook
1.1 Medical Devices Industry
1.1.1 Overview
1.1.2 Geography
1.1.3 Medical technologies
1.1.4 Industry Trends
1.2 Healthcare Spending in the US
1.3 Regulatory Bodies & Standards
1.4 Reimbursement Scenario
1.5 Emerging Global Markets
1.6 Patient Demographics
1.7 Definition: Ultrasound System
1.7.1 Ultrasound
1.7.1.1 Overview
1.7.2 Why ultrasound systems?
1.8 Healthcare Spending in the US
1.9 Regulatory Bodies & Standards
1.10 Emerging Global Markets
1.11 PESTLE Analysis
2 Report Outline
2.1 Report Scope
2.2 Report Summary
2.3 Research Methodology
2.4 Report Assumptions
3 Market Snapshot
3.1 Total Addressable Market (TAM)
3.2 Segmented Addressable Market (SAM)
3.3 Strategic Initiatives
3.4 Related Markets
3.4.1 Medical Imaging Devices
3.4.2 Medical X-ray Equipment
3.4.3 MRI Equipment
3.4.4 Mammography Devices
3.4.5 Healthcare X-ray Detectors
3.5 Porter 5 (Five) Forces
4 Market Characteristics
4.1 Market Segmentation, By Product Type
4.1.1 Stationary ultrasound devices
4.1.2 Portable ultrasound devices
4.2 Ultrasound Devices Market, By Imaging Type
4.2.1 2D Imaging
4.2.2 3D Imaging
4.2.3 4D imaging
4.3 Ultrasound Devices Market, By Application Type
4.3.1 Radiology
4.3.2 Cardiovascular
4.3.3 Gynaecology/obstetrics
4.3.4 Musculoskeletal
4.3.5 POC
4.3.6 Others
4.4 Market Dynamics
4.4.1 Drivers
4.4.1.1 Increase in adoption of advanced ultrasound systems
4.4.1.2 Increase focus in improving the quality of care in surgical patients
4.4.1.3 Rise in number of diagnostic centers
4.4.1.4 Increased adoption of 3D and 4D ultrasound equipment
4.4.2 Restraints
4.4.2.1 Stringent regulations for approval
4.4.2.2 Inadequate reimbursement policies
4.4.2.1 Intense competition among vendors
4.4.2.2 Lack of skilled radiologists
4.4.3 Opportunities
4.4.3.1 Technological advancement - Real-time 3D
4.4.3.2 Increase in the number of outpatient procedures
4.4.3.3 Increased healthcare spending
4.4.3.4 Market expansion opportunities in emerging nations
4.4.4 DRO - Impact Analysis
4.5 Key Stakeholders
5 End-Users
5.1 Overview
5.2 Hospitals
5.3 Ambulatory Care
5.3.1 ASCs in the Americas
5.3.2 ASCs in EMEA
5.3.3 ASCs in APAC
5.4 Diagnostic Centers
5.5 Others (Research Centers, Non-Profit Organizations, and Nursing Home)
6 Regions
6.1 Overview
6.2 North America
6.3 Europe
6.4 APAC
6.5 Rest of the World
7 Competitive Landscape
7.1 Competitor Comparison Analysis
8 Vendor Profiles
8.1 GE Healthcare
8.2 Philips Healthcare
8.3 Siemens Healthineers Inc.
8.4 Fujifilm Holdings Corp.
8.5 Canon Medical Systems Corp.
9 Companies to Watch for
9.1 Hitachi Medical Corp.
9.2 Carestream Health Inc.
9.3 Hologic Corp.
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