The ultrasound systems market share propels forward with a remarkable 5.5% compound annual growth rate (CAGR). From an anticipated US$ 9.5 billion in 2022, the market is poised to ascend to an impressive US$ 13.2 billion by 2028.
In the era of healthcare digitization, the ultrasound systems market stands at the forefront of innovation. This evolution, driven by advancements across diverse sectors, has not only revolutionized patient care but also fueled a surge in demand for medical examinations over the past decade.
A groundbreaking market research report by Future Market Insights delves into the depths of the global ultrasound systems market, unveiling a narrative of robust growth. With upgraded services enhancing patient experiences and the seamless access to internal body examinations facilitated by ultrasound systems, the market surges ahead with unwavering momentum.
As the ultrasound systems market continues to redefine possibilities, it epitomizes a future where innovation intersects with compassion, transforming healthcare delivery and shaping the landscape of medical diagnostics.
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Favourable Government Policies to Benefit Start-up Companies and Independent diagnostic centers
As a move to encourage start-up companies, government of various regions like Asia Pacific and MEA have bolstered the initiatives to support the new start-ups who are entering the healthcare and medical device industry. It includes exemption of taxes for the first three years, subsidizing patent protection cost etc.
The move is intended to boost the overall market for medical devices. Specifically the medical imaging market has also taken an independent position in the global market. With the betterment in services and advanced facilities related to ultrasound or any other imaging techniques, the global market is expected to witness a higher volume of independent imaging centers.
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.
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.
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 Segments:
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
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- MEA
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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