Ultrasound Systems Market to 2019 – Technological Advancements, Wide Applications and Device Portability to Drive Future Growth

Friday 3 May 2013, Amsterdam

Global Ultrasound Systems Market Forecast to Exceed $7 billion by 2019 at Compound Annual Growth Rate of 7%
The global ultrasound systems market was valued at $4.6 billion in 2012 and is forecast to increase at a Compound Annual Growth Rate (CAGR) of 7%. 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 Continues to be Largest Market for Ultrasound Systems
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.

Leading Five Companies Account for 74% of Global Ultrasound Systems Market
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.

Technological Advancement, Increased Applications and Device Portability to Drive Future Growth
Technological advancement, an increased number of applications and portability of ultrasound systems are expected to drive future growth. Technological advancements such as 3D/4D imaging, contrast imaging, directional flow imaging, and software applications provide benefits such as enhanced image quality, real time diagnosis, and improved examination of patient. An increasing number of applications such as electrograph, Endoscopic Bronchial Ultrasound (EBUS) and Endoscopic Ultrasound (EUS) due to improved portability are other drivers for future growth.

Rapidly Aging Global Population and Increasing Healthcare Expenditure in Developing Economies to Continue to Drive Growth
The rapid aging of the global population and the low penetration of ultrasound systems in developing economies such as India and China continue to be major drivers for the future growth of the market. The aging of the global population is resulting in the increased prevalence of chronic disease conditions. Worldwide, there were almost 810 million people aged 60 years or older in 2012, and this number is expected to exceed 2 billion in 2050 (United Nations, 2012). The increased prevalence of chronic disease conditions will continue to drive ultrasound procedure volumes during the forecast period.