Sales for ultrasound equipment in the U.S. shown to be a stable, providing replacement sales revenue, while advanced 3D and 4D imaging technology, and new point of care units, boost new sales growth.
VANCOUVER, Jan. 12, 2015 /PRNewswire/ - According to a new report by iData Research, (www.idataresearch.com), the leading global authority in medical device and pharmaceutical market research, ultrasound equipment providers in the United States are likely to see stable, reliable growth in the coming years. Already a billion-dollar industry in the U.S., the ultrasound imaging equipment market is projected to pass the $2 billion mark by 2020.
"Medical device markets are often volatile, spiking up and down with FDA approvals and reimbursement changes," explains Dr. Kamran Zamanian, CEO of iData Research. "But, the ultrasound equipment market shows unusual stability. A noticeable, steady level of growth is projected."
Market stability comes from cardiology and radiology ultrasound equipment sales. These markets make up more than half of the U.S. ultrasound equipment market as a whole, and are supported by regular replacement sales. The use of ultrasound technology is an accepted, necessary component of the U.S. healthcare system.
However, the market as a whole is driven by new, groundbreaking technologies. Point of care ultrasound device sales will see significant growth in the future, driven by new, radiation-free needle placement procedures. For example, the number of ultrasound procedures performed by anesthesiologists more than doubled between 2010 and 2013.
Other key findings from the iData Research report entitled "U.S. Market for Ultrasound Imaging Equipment" include:
Radiology Departments Seeing More Specialization, Fewer Patients
"General imaging" devices usually used by radiology departments are significantly expensive. A trend towards smaller, specialized devices withinin hospital budgets is being seen. Additionally, radiology ultrasound equipment sales are limited by the increasing number of hospital departments performing their own ultrasound exams, and not sending patients to radiology.
Anesthesiology and Musculoskeletal Point of Care Ultrasound Equipment Sales Growing
With regards to point of care ultrasound equipment market segments for anesthesiology and musculoskeletal applications, physicians are using ultrasound to improve the accuracy of needle placement procedures. Costly radiation-based imaging techniques are being replaced with real-time, cost-effective ultrasound imaging.
A Diverse Market: Strong Leaders, Many Smaller Players
Ultrasound imaging equipment market leaders such as GE Healthcare, SonoSite, and Philips account for more than half of the market. These companies can likely expect stable revenues from replacement sales in the future. However, some investors are taking note of the more than 15 other notable ultrasound equipment companies identified by iData Research. These companies include Zonare, Hitachi Aloka, Esaote, Analogic, Toshiba, Siemens Healthcare, U-Systems and Terason, Mindray, amongst others. Mergers and acquisitions are anticipated to change the competitive landscape as new technologies are developed and market leaders seek to secure their dominance.
For Further Information
The iData Research report entitled "U.S. Market for Ultrasound Imaging Equipment" a procedure driven market intelligence report covers nine separate market segments in detail, including ultrasound equipment segments for cardiology, radiology, obstetrics and gynecology, breast applications, urology, surgery, vascular applications, ophthalmics, and point of care. Procedure numbers for each therapeutic area is fully analyzed and reported nationally, as well as by each of the 50 states.
Register online or email us at firstname.lastname@example.org for a U.S. Market for Ultrasound Imaging Equipment report synopsis
The full reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players' success strategies in each market and segment.
About Procedure Tracker™
Define and analyze procedure data segmented by State, region, hospital, surgery centre, and physician. Using iData's customizable dashboard, sort procedure data of your choice to further analyze and research any of the following U.S. procedure categories:
- Breast Ultrasound
- Cardiac Ultrasound
- Cerebrovascular Ultrasound
- Endoscopic Ultrasound
- Guidance Ultrasound
- Intravascular Ultrasound
- Musculoskeletal Ultrasound
- Peripheral Vascular Ultrasound
- Urological Ultrasound
SOURCE iData Research Inc.