Published Date : 05 Nov 19 | Views: 36 | Industry : Life Science
Adoption of 3D and 4D Ultrasound Stays Low in Some Regions
Based on end user, the global ultrasound market is segmented into home care, clinic, and hospital. Need to cut down hospitalization cost and the shift toward remote patient monitoring and home healthcare are predicted to boost the demand for handheld ultrasound systems. On the basis of product type, the global ultrasound market is segmented into Doppler, 3D and 4D, and 2D ultrasound. Lack of acceptance among healthcare professionals could lead to low market penetration of 3D and 4D ultrasound devices in Scandinavia.
Continuing Research on Ultrasound Expected to Support Growth of Europe Market
In Eastern Europe, the popularity of 3D and 4D ultrasound machines may increase in the coming years. However, financial constraints are anticipated to limit the saturation of the 3D and 4D ultrasound market in the region. Nevertheless, factors such as ongoing clinical research on ultrasound could help Europe to gain growth in future. In Mexico, product prices may not be high due to low availability of high-end ultrasound devices. The Mexican ultrasound market is expected to offer low competitive advantage due to high import tariffs.
Players Anticipated to Enter into Distribution and Acquisition Agreements
Leading companies competing in the global ultrasound market are GE, Mindray, Philips, VisualSonics (Fujifilm SonoSite), Siemens, Carestream, Boston Scientific, and Toshiba. In order to improve their sales growth in the global ultrasound market, companies are expected to form distribution partnerships in future. They could also acquire other market participants or a part of their ultrasound business and expand existing partnerships to increase their market growth and enhance functionalities of their ultrasound systems. New product launch could be another strategy adopted by players operating in the global ultrasound market.
High Incidence of Target Diseases Likely to Increase Demand
Increase in the number of research projects, healthy government funding, strong private investments, and technological development in the ultrasound field are some of the chief factors predicted to improve the global market growth. High prevalence of target diseases such as cancer and important application in tissue biopsy could further increase the requirement for ultrasound systems. However, tight government regulations and lack of professional sonographers in some countries are anticipated to hinder the advancement of the global ultrasound market.
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