The global ultrasound systems market is suggested to have grown to a value of $4.6 billion in 2012, and is forecasts to reach a total of over $7 billion by the end of 2019. This suggests a CAGR growth rate of around 7% between 2012 and 2019.
The future growth of the market is expected to be driven by technological advancements, the development of new imaging technologies such as 3D and 4D ultrasound imaging, an increased number of applications for ultrasound systems, and the penetration of portable and color doppler ultrasound systems into the market. The unfavorable reimbursement scenario in developed economies such as the US and Europe is expected to have a negative impact upon demand during the forecast period.
The US was the largest market for ultrasound systems in 2012, when it was valued at $1.5 billion. The US market, which accounted for 33% of global revenue in 2011, is highly penetrated and is primarily a replacement market for ultrasound systems. An increasing number of applications, and the adoption of fusion technologies such as Magnetic Resonance Imaging (MRI) guided High Intensity Focused Ultrasound (HIFU), are also expected to be major drivers for future growth.
In 2011, GE Healthcare was the leading company in the global ultrasound systems market, with a share of 25%, followed by Philips Healthcare with 19%. The leading five companies accounted for 74% of the global ultrasound systems market. Companies are focusing increasingly on investment in emerging economies and advancing the portability of ultrasound systems. Companies are also focusing on enhancing the quality of images, while limiting any increases in the direct costs involved in the installation of ultrasound systems.For more information on the Global ultrasound systems market, please click here: Global ultrasound systems market
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