Ultrasound Scanners Market to Skyrocket with AI, Cloud, and Portable and Ultra-portable Systems
Cart-based systems to dominate the portable segments in revenue shares and create growth opportunities, finds Frost & Sullivan
SANTA CLARA, Calif., May 22, 2019 /PRNewswire/ -- The mature, yet dynamic ultrasound market generated $6.12 billion from 115,592 units in 2018, driven by its offer of fusion imaging, wearable ultrasound, and Artificial Intelligence (AI)-powered systems in established markets and contrast-enhanced ultrasound and elastography in emerging markets. The cart-based segment was the largest in terms of revenue and accounted for 73.4% of the market share and 60.4% of the unit shipment.
"Globally, emerging segments such as musculoskeletal, anesthesiology, and endocrinology will evolve into established segments by 2023," said Poornima Srinivasan, Industry Analyst, Transformational Health. "AI will be used in premium ultrasound systems, primarily for detecting breast cancer, in ob-gyn settings for fetal image assessment, and in the cardiology domain in the US, Japan, and Western European countries."
Frost & Sullivan's recent analysis, Global Ultrasound Market for Established and Emerging Clinical Applications, Forecast to 2023, covers cart-based, portable (hand-carried), and ultra-portable (hand-held) devices and analysis of established and emerging applications. The regions covered include North America (US and Canada), Latin America (Brazil, Argentina), Western Europe (Benelux, France, Germany, Italy, Scandinavia, Spain, and UK), Eastern Europe (Romania, Turkey, Poland, Hungary), and Asia-Pacific (Australia, Japan, South Korea, China, Thailand, Indonesia, Malaysia, and India).
For further information on this analysis, please visit: http://frost.ly/3gv.
"Non-invasiveness, expanding clinical applications, affordability, and introduction of portable and ultra-portable systems, cloud, AI, and other digital capabilities are expected to further drive the growth of ultrasound scanners," noted Srinivasan. "Domestic manufacturers will compete against major OEMs on product features, pricing, and servicing, while vendors will compete on value-based products, product miniaturization, and automation."
For additional growth opportunities, market participants can:
- Engage in cross-functional partnerships across the continuum of equipment management, covering software upgrades and transducer maintenance.
- Augment technical support capabilities with onsite engineers, virtual assistance, and online tools.
- Adopt a targeted approach toward emerging application areas like emergency medicine, anesthesia, and primary care.
- Identify growth markets based on factors such as ease of transition and willingness to use portable or ultra-portable systems.
- Target general practitioner (GP) clinics with ultra-portable systems and small hospitals with cart-based systems.
- Develop new business models focusing on operational efficiency and training.
Global Ultrasound Market for Established and Emerging Clinical Applications, Forecast to 2023 is part of Frost & Sullivan's global Medical Imaging Growth Partnership Service program.
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Global Ultrasound Market for Established and Emerging Clinical Applications, Forecast to 2023
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