The next-generation ultrasound system is a device that helps in integrating the number of imaging diagnoses related to a wide variety of clinical segments. This device is beneficial for making the diagnostic work more effectively using different technological aspects. Moreover, it is better in terms of quality, mobility, and affordability than the standard ultrasound system.
According to the MarkNtel Advisors’ research report, "Global Next-Generation Ultrasound System Market Analysis, 2021," the market is likely to grow at a CAGR of around 5% during 2021-26 due to the surging demand for high-quality ultrasound systems in the healthcare sector and rapid adoption of technologically advanced devices like 3D, 4D, and future 5D ultrasound systems.
Further, the mounting prevalence of target diseases and snowballing government investments to support the R&D activities for developing next-generation ultrasound devices are primary factors fueling the market growth.
Impact of COVID-19
The sudden outbreak of the COVID-19 pandemic has adversely affected the Global Next-Generation Ultrasound System Market due to the lockdown imposition, movement restrictions, and stringent regulations and guidelines regarding the opening of manufacturing units, private clinics, and other laboratories. Moreover, supply chain disruptions, the declining number of skilled staff, and recruitment challenges for clinical trials further restrained the market growth.
Doppler Ultrasound Systems Accounted for the Largest Market Share
Based on the Product Type, the market segments into Diagnostic Ultrasound Systems and Therapeutic Ultrasound Systems. The Therapeutic Ultrasound Systems further bifurcates into High-Intensity Focused Ultrasound, Extracorporeal Shock wave Lithotripsy, and Doppler Ultrasound.
Among these segments, Doppler Ultrasound acquired the largest share in the Global Next-Generation Ultrasound System Market in the previous few years, primarily because it can prove sharper images in a short duration.
Further, due to the rapid penetration of technologically advanced systems across the world, Doppler Ultrasound has gained tremendous popularity in the past few years, cites MarkNtel Advisors in their research report, "Global Next-Generation Ultrasound System Market Analysis, 2021."
Cart/Trolley Based Systems Attained the Highest Market Share
Based on Portability, the market bifurcates into Cart/Trolley Based Systems, Handheld Devices & Wearable, and Portable Systems. Among these segments, Cart/Trolley Based Systems dominated the Global Next-Generation Ultrasound system Market in the previous few years due to the rapid adoption of these technologically advanced systems across the globe and the surging usage of ultrasound systems in acute care settings & emergency care in hospitals, healthcare institutions, and clinics. Thus, the segment contributes to the overall growth of the Global Next-Generation Ultrasound System Market.
North America Dominated the Market
Geographically, North America held the largest share in the Global Next-Generation Ultrasound System Market and is likely to maintain its dominance in the forecast period due to the surging penetration rate of the devices in the United States. Additionally, the rising adoption of portable devices by the end-users is likely to fuel the market growth. Further, the soaring involvements of prominent industry players engaging in the launch of new products, mounting prevalence of chronic diseases, and snowballing healthcare expenditure in the region also propel the growth of the Global Next-Generation Ultrasound System Market.
Mounting Technological Advancement in the Ultrasound Systems Fuel the Market Growth
One of the most primary factors accelerating the growth of the Global Next-Generation Ultrasound System Market is the integration of advanced technologies in the ultrasound systems. The need for more precise and accurate imaging requires a high-end ultrasound machine, thereby fueling the demand for the next-generation ultrasound system. Besides, its increasing applications and surging patient comfort levels due to less scan time required further propel the overall market growth.
According to MarkNtel Advisors, the major leading players in the global Next-Generation Ultrasound System market are BK Medical ApS (Analogic Corporation), Butterfly Network Inc., Canon Inc., Clarius Mobile Health, Esaote SpA, Fujifilm Holdings Corporation, General Electric Company, Healcerion Co. Ltd., Hitachi Ltd., Hologic Inc., Hologic, Inc., Koninklijke Philips N.V., Samsung Electronics Co. Ltd., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Shimadzu Corporation, and Siemens Healthineers AG.
Key Questions Answered in the Market Research Report:
1. What are the overall market statistics or estimates (Market Overview, Market Size- by Value, Forecast Numbers, Market Segmentation, and Market Shares) of the Global Next-Generation Ultrasound System Market?
2. What is the region-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Next-Generation Ultrasound System Market?
4. Who are the key competitors, their key strengths & weaknesses, and how they perform in the Global Next-Generation Ultrasound System Market based on a competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the Global Next-Generation Ultrasound System Market study?
Market Outlook, Segmentation and Statistics
1. Impact of COVID-19 on Global Next-Generation Ultrasound System Market
2. Market Size & Analysis
2.1. By Revenue
3. Market Share & Analysis
3.1. By Product Type
3.1.1. Diagnostic Ultrasound Systems
3.1.2. Therapeutic Ultrasound Systems
3.1.3. High-Intensity Focused Ultrasound
3.1.4. Extracorporeal Shock Wave Lithotripsy
3.1.5. Doppler Ultrasound
3.2. By Technology
3.2.1. 4D/3D Ultrasound Systems
3.2.2. 2D Ultrasound Systems
3.2.3. Fusion Imaging Tissue Harmonic Imaging
3.3. By Application
3.3.1. General Imaging
3.3.2. Cardiovascular Imaging
3.3.3. Vascular Imaging
3.3.4. Obstetrics and Gynecology Imaging
3.3.5. Lung Imaging
3.3.6. Urology Imaging
3.3.7. Orthopedics Imaging
3.3.8. Others (kidney, Abdomen Imaging)
3.4. By Portability
3.4.1. Cart/Trolley Based Systems
3.4.2. Handheld Devices and Wearable
3.4.3. Portable Systems
3.5. By End-Users
3.5.2. Diagnostics Laboratories and Imaging Centers
3.5.4. Ambulatory Surgical Center
3.6. By Region
3.6.1. North America
3.6.2. South America
3.6.4. Middle East & Africa
3.7. By Competitors
3.7.1. Competition Characteristics
3.7.2. Market Share & Analysis
3.7.3. Competitive Matrix
4. Global Next-Generation Ultrasound System Market Hotspots & Opportunities
5. Global Next-Generation Ultrasound System Market Regulations & Policy
6. Key Strategic Imperatives for Success and Growth
7. Global Competition Outlook
7.1. Competition Matrix
7.2. Company Profile