Diagnostic imaging, business

Compact ultrasound to boost market to US$5 billion by 2008

5 June 2007

Wellingborough, UK. The world market for ultrasound imaging equipment will pass US$5 billion by 2008 and reach US$5.7 billion by 2010 according to InMedica’s latest ultrasound imaging equipment report.

The growth is being driven by the miniaturisation of ultrasound equipment and the development of new applications. This ‘compact revolution’ is also driving additional growth in ultrasound's traditional markets such as cardiology and obstetrics and gynaecology.

“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 ultrasound 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.

Opportunities for growth

There are further opportunities for growth in the ultrasound imaging equipment market in the rapidly developing economies of the world, most notably China, India and Russia.

Moreover, the cost-effectiveness, ease of use, and flexibility of ultrasound have contributed to its rising favourability 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.

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