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Future Market Insights

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Advanced and Portable Systems Broaden Global Ultrasound Systems Market

Digitisation in the healthcare sector has revamped the ultrasound systems market. Advancements in different spheres of the industry have benefited not just the patients but the market too, as the demand for medical examination has surged over the past decade.

The new market research report by Future Market Insights revolves around an in-depth and an all-inclusive analysis of the global ultrasound systems market. It has revealed that ultrasound systems have offered practitioners a simpler approach to internal body examination, leading to strong growth and upgraded patient services.

Titled ‘Ultrasound Systems Market – Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028’, the report notes the global ultrasound systems market is expected to reach a market value of more than $12.5m by the end of 2028, growing at an impressive compound annual growth rate (CAGR) of 5.7% during the forecast period.

Hospitals to hold largest share in ultrasound systems market with high demand for application in radiology

Hospitals are shifting toward more value-oriented products that 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 clear, high-definition pictures that are a part of ultrasound systems, the systems have also become more portable, something that is quite recent to the market.

Although developed nations are already familiar with the technology, the market may find a higher prospect of growth in developing regions. Market analysis has shown that hospitals hold the highest market share in the global ultrasound systems market, but diagnostics imaging and surgical centres 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 and is expected to continue growing further at a CAGR of 6.3% during the forecast period, as analysed by FMI.

Favourable government policies to benefit start-up companies and independent diagnostic centres

As a move to encourage start-up companies, governments of various regions such as the Asia Pacific (APAC) and the Middle East and Africa (MEA) have pushed initiatives to support new start-ups entering the healthcare and medical device industry. This includes exemption of taxes for the first three years and subsidising patent protection costs. The move is intended to increase the overall market for medical devices, specifically the medical imaging market, which has also taken an independent position in the global market.

With the improvement of services and advanced facilities related to ultrasound or other imaging techniques, the global market is expected to witness a higher volume of independent imaging centres. The companies have also independently introduced handy and user-friendly devices in the market. GE, Philips, Samsung, Fukuda, Mindray, Hitachi, Toshiba, and Siemens all 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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For more information about report methodology, click here.