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North America followed by Europe is expected to Lead the Ultrasound Systems Market in Terms of Revenue Growth, Reveals Fact.MR Study

Demand for standalone and tabletop ultrasound systems is rising steadily, and industry players are set to witness increase in revenue over the coming years. 2D ultrasound technology is expected remain extremely popular across regions, shaping the expansion strategies of market players.

The latest revised market study by Fact.MR offers a holistic overview of the global industry along with its driving and restraining factors and demand-supply trajectories for the forecast period of 2021 to 2031. As stated in the report, the global ultrasound systems will ascend at over 6% CAGR topping a valuation of US$ 8.5 billion in 2031.

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What are the Key Challenges Faced by Ultrasound System Suppliers?

Despite having high demand, suppliers of ultrasound systems face a few restraining factors, such as-

  • Expensive production process
  • Complex process cycle
  • Requirement for expert handling
  • Additional operational & maintenance costs

However, the overall advantages of ultrasound systems outweigh these restraints, and hence, ultrasound system providers are expected to experience lucrative growth scope in the foreseeable future.

“Technical advancements in the manufacturing sector coupled with incorporation of high-intensity focused ultrasound and extracorporeal shockwave lithotripsy is expected to augment demand growth for ultrasound systems,” says a Fact.MR analyst.
Demand from Hospitals & Diagnostics Centers to Remain High

Ultrasound systems are extensively used in examining internal body organs such as-

  • Liver
  • Kidneys
  • Bladder
  • Spleen
  • Pancreas

With increase in demand from hospitals and diagnostic centers, manufacturers of ultrasound systems are expected to come across huge opportunities in the foreseeable future.

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According to a report titled “Medical Technology Industry Spotlight”, published by Select USA, the United States healthcare and medical devices industry is worth US$ 156 billion, which represents 40% of the global industry. As stated in the report, the U.S. healthcare and medical devices industry is set to reach US$ 208 billion by 2023. This gives a glimpse of the growing opportunities for ultrasound system manufacturers not only in the U.S. but across the globe.

Who is Winning in this Space?

The global ultrasound systems market offers a highly competitive environment to its players. In order to capitalize on the growing opportunities, key industry players are emphasizing on the quality and quantity of products.

For instance,

  • General Electric Company recently launched its new Handheld Ultrasound System Vscan, Point of Care Ultrasound, Vivid Ultra Edition Solutions, and others.
  • Toshiba Corporation launched its new Apollo i-series, Apollo a-series, Xario Platinum Series, and others a couple of years back.
More Valuable Insights

In its latest report, Fact.MR offers an unbiased analysis of the ultrasound systems market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of portability (standalone ultrasound systems, table-top ultrasound systems, and portable ultrasound systems), end user (hospitals, diagnostic centres, ambulatory surgical centres, and others), application (cardiology, radiology, urology, vascular, gynaecology, and others), and technology (2D ultrasound, 3D & 4D ultrasound, high-intensity focused ultrasound, and extracorporeal shockwave lithiotripsy), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).

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Fact.MR’s Domain Knowledge in Healthcare

Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

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Last Updated: 09-Aug-2021