Compact Revolution to Boost Ultrasound Market to $5 billion by 2008

June 22, 2007 - The second edition of InMedica’s ultrasound imaging equipment report predicts that the world market for ultrasound imaging equipment will reach $5.7 billion by 2010 and exceed $5 billion by 2008, fuelling the use of ultrasound in new applications and driving additional growth for ultrasound in its traditional markets such as cardiology and obstetrics and gynecology.
“There is a clear trend towards miniaturisation in the ultrasound industry being driven by several manufacturers”, reports Diane Wilkinson, Market Research Analyst. “This equipment is being used by an increasing number of physicians beyond the traditional applications, in areas such as emergency medicine and anaesthesiology. Both hand-carried and portable ultrasounds are out-performing the cart-based segments of the market, and by a considerable margin. Of the cart-based sector, it is only the mid-range segment of the market that is presenting significant growth. Increased functionality and picture quality in a price sensitive market have contributed to the mid-range segment showing strongest growth for cart-based systems. With image quality comparable to high-end systems at much lower prices, a top-down shift in the product mix is being created, away from premium and high-end systems”, commented Miss Wilkinson.
Further opportunities for growth in the ultrasound imaging equipment market are also presenting themselves in rapidly developing economies of the world and most notably China, India and Russia. Moreover, the cost-effectiveness, ease of use, and flexibility of ultrasound have contributed to its rising favorability in comparison to other imaging modalities in price-sensitive markets. In an environment where the cost of healthcare is out pacing government healthcare spending, there is an ongoing change in the way that ultrasound is being used, not only in hospitals but also in clinics and private practices. The market share for procedural, diagnostic and physical examinations that include ultrasound are increasing.
For more information: www.in-medica.com