According to the results of a global forecast mentioned in the report titled “Ultrasound Systems Market – Global Industry Analysis 2012 – 2021 and Opportunity Assessment 2022 – 2028,” the global Ultrasound Systems Market is anticipated to reach a market value of over US$ 13.2 Bn by the end of 2028, growing at an impressive CAGR of 5.5% throughout the forecast period.
The digitization of the healthcare sector has changed the market for ultrasound systems. Since there has been a growth in demand for medical tests over the past 10 years, both the market and patients have benefited from the industry’s advancements.
The use of ultrasound systems has enabled improved patient care and a simpler internal body examination technique, both of which have led to a significant market expansion, according to a recent market research report by Future Market Insights that examines the Global Ultrasound Systems Market in depth and comprehensively.
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Favourable Government Policies to Benefit Start-up Companies and Independent diagnostic centers
Governments in a number of areas, including Asia Pacific and MEA, have strengthened their programmes in an effort to assist new start-ups in the healthcare and medical device industries. For the first three years, taxes are not included; additionally, fees related to patent protection are included.
The initiative aims to grow the medical equipment market as a whole. The global market for medical imaging in particular has taken a lead position. Due to advancements in services and state-of-the-art facilities connected to ultrasound or any other imaging techniques, it is projected that there will be a growth in the number of independent imaging centres on the global market.
The companies have also independently introduced handy and user-friendly devices in the market. GE, Philips, Samsung, Fukuda, Mindray, Hitachi, Toshiba, and Siemens, all these companies offer their own particular models.
The coming years will showcase more advanced ultrasound systems, which will provide an image clearer than 3D or 4D pictures.
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Hospitals to hold largest share in Ultrasound Systems Market with highest demand for application in Radiology
Hospitals shift toward more value-oriented products, they need to operate more efficiently and productively. Similarly, a quality shift has occurred with patients, who more proactively involved in their care. Trends from the shift to value-based care include data integration and population health management.
An influx of data combined with advancements in imaging helps leverage these data to not only bring further value but also apply it to broader populations. Along with the clearer and high definition pictures that are a part of ultrasound systems, there has also been an introduction to the portable machines.
These are the more handy and easy to move form of ultrasound systems that have come into existence not long ago. Although the developed nations are already familiar with the technology, the market may find a higher prospects of growth in the developing regions. The market analysis has shown that hospitals hold the highest market share in the Global Ultrasound Systems Market, however diagnostics imaging and surgical centers are expected to raise a higher demand for the systems in the coming years.
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In terms of application the market is also dominated by Radiology as the key application area for ultrasound systems and is expected to continue growing further at a CAGR of 6.3% during the forecast period, as analyzed by FMI.
Key Market Segments Covered in Ultrasound systems Market Research
By Modality:
- Cart/Trolley Based
- Compact/Hand Held
By Application:
- Radiology
- Obstetrics & Gynaecology
- Cardiology
- Gastroenterology
- Others
By End User:
- Hospitals & Clinics
- Diagnostic Imaging & Surgical Centers
- ASCs
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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