Ultrasound Systems - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017

Thursday 2 August 2012, Amsterdam

The new “Ultrasound Systems - Global Pipeline Analysis, Competitive Landscape
and Market Forecasts to 2017 ” report provides key data, information and analysis on the global ultrasound systems market. The report provides market landscape, competitive landscape and market trends information on the ultrasound systems market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market’s dynamics. The report also reviews the market’s competitive landscape and technology offerings.

This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by a team of industry experts.

The Global Ultrasound Systems Market is Expected to Grow at a CAGR of 5.3% from 2010 to 2017
The global ultrasound systems market was valued at $3.9 bn in 2010 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.3%, to reach a market value of $5.6 bn in 2017. This growth will be driven by the growth of the global color Doppler ultrasound systems market. The aging global population and the increasing prevalence of various diseases such as cardiovascular disorders are expected to drive demand for ultrasound scanning in the future. Moreover, technological advancements such as enhanced image quality, improved ergonomics, and miniaturization of the ultrasound systems will further drive the growth of the market. The increasing use of ultrasound systems in various emerging applications such as breast imaging, vascular imaging and as guidance for interventional procedures and anesthesia is expected to lead to further substantial growth in the global ultrasound systems market.

GE Healthcare is the Market Leader in the Global Ultrasound Systems Market
The global ultrasound systems market is dominated by GE Healthcare, with a 24% share, followed by Philips Healthcare with a share of 19% and Siemens Healthcare with a 12% market share. Other players with a significant presence include Toshiba Medical Systems Corporation, Hitachi Medical Corporation, ESAOTE S.p.A. and SonoSite, Inc.

Competition in the ultrasound systems market is intense and in order to maintain their competitiveness, companies are adopting strategies such as inorganic growth, aggressive pricing and product innovation. Product innovation, including miniaturization of the ultrasound systems and developing new software for imaging and applications, continues to drive pricing, which acts as a huge barrier for new entrants in the market. Market players are also investing in improving their product diversity by developing products which are specifically used for a particular application. This is expected to drive the growth of the ultrasound systems market in the future.

Rapidly Growing Portable Ultrasound Systems Market to Drive Market Growth in the Future
The global portable color Doppler ultrasound systems market was valued at $828.9m in 2010 and is expected to grow at a CAGR of 7.9% to reach a market value of $1411.1m in 2017. Similarly, the portable B/W ultrasound systems market was valued at $118.9m in 2010 and is expected to grow at a CAGR of 5.3%, to reach a market value of $140.4m in 2017.

Ultrasound, being a non-invasive and non-ionizing imaging modality, is considered safe for frequent diagnosis in various applications such as OB/GYN (Obstetrics/Gynecology), cardiology, vascular imaging, and oncology. The development of portable ultrasound systems has led to the increasing application of ultrasound in non-imaging specialties such as emergency care, critical-care and also in out-patient settings in various hospitals. Increasing miniaturization of systems has led to the development of products such as GE’s Vscan - a hand-held ultrasound system - and Mobisante’s MobiUS - a mobile phone based ultrasound system. This is expected to lead to an increased usage of ultrasound in point-of-care diagnosis, which would also drive the growth of the global ultrasound systems market in the future.

The US is the Largest Market for Ultrasound Systems
The ultrasound systems market in the US accounted for about 38.6% ($1.1 bn) of the global ultrasound systems market in 2010. The market is forecast to grow at a CAGR of 5% to reach a market value of $1.8 bn in 2017. The color Doppler ultrasound systems market contributes significantly to the overall market in the US and was valued at $1.25 bn in 2010. Increasing product innovation and Research and Development (R&D) by various ultrasound manufacturers, a growing patient population and the increasing application of diagnostic ultrasound in various indications are collectively expected to drive the market growth in the US.