A succinct outline of the competitive landscape of diagnostic ultrasound market, technological innovations to profoundly expedite the industry progression
Publisher : Fractovia | Published Date : 2018-01-05Request Sample
Over the recent years, diagnostic ultrasound market has rapidly emerged as one of the most pivotal niche verticals of the global healthcare and medical devices industry. The ultrasound systems have undoubtedly played a prominent role in enhancing the global average life expectancy by detecting cardiovascular ailments, musculoskeletal disorders, and by lowering maternal and fetal mortality rate. Furthermore, the rising geriatric population prone to chronic and orthopedic ailments, growing inclination toward deploying highly advanced and portable ultrasound systems, and the rapid pace of technological advancements in medical imaging products are anticipated to persistently foster the growth of the global diagnostic ultrasound market share over the estimated timeframe.
U.S. Diagnostic Ultrasound Market size, By Application, 2013-2024 (USD Million)
According to the estimates published by World Health Organization, the global life expectancy witnessed an impressive growth rate of 5 percent over the period of 2000-2015, the fastest since 1960’s. On the other hand, the maternal mortality rate dropped by almost 44 percent between the years 1990 and 2015. Needless to mention, the timely diagnosis of diseases has ensured better treatment strategies, in turn, saving countless number of lives across the globe. Apparently, it goes without saying that the contribution of diagnostic ultrasound market in containing the mortality rates and driving up the life expectancy has been phenomenal. The aforementioned statistics reinforce the significance of the technological advancements being unleashed in the overall diagnostic ultrasound industry, which commanded a total valuation in excess of USD 5 billion in 2016.
While elaborating further upon the growth prospects of diagnostic ultrasound market over the forthcoming years, it is quite imperative to take note of the enormous initiatives being undertaken by leading industry giants that have accelerated the pace of technological advancements and have swamped the diagnostic ultrasound industry with high-performance products. Below mentioned are a few noteworthy tech innovations and products recently launched by prominent diagnostic ultrasound market players:
- GE Healthcare, one of the foremost diagnostic ultrasound industry behemoth, has recently joined forces with DiA Imaging Analysis to develop automated imaging analysis technology that would utilize machine learning algorithms. Moreover, the technology of DiA has been said to have received primary clearance by Food and Drug Administration of U.S. As per the agreement, the Israel-based DiA Imaging Analysis would deploy its advanced software that would provide accurate analysis and real-time imaging of ultrasound readings which would assist healthcare providers to offer better patient care.
- Hitachi Medical Corporation, a renowned diagnostic ultrasound market player has recently launched its new 2D/4D cardiovascular ultrasound system, LISENDO 880, through its subsidiary Hitachi Medical Systems Europe. The latest imaging system reportedly offers a host of innovative cardiac imaging features under the firm’s HemoDynamic Analytics package including Vector Flow Mapping (VFM), LVeFlow iDGD (Dual Gate Doppler), eTRACKING, Eyeball EF, and i2DTT quantification tools. Apparently, it won’t be an exaggeration to claim that LISENDO 880, equipped with such unique characteristics, has shifted cardiac health evaluation procedures to a new level. Such product launches can be undoubtedly termed as significant, given that cardiovascular imaging holds a major chunk of the total diagnostic ultrasound industry application share.
- Samsung Medison, the diagnostic ultrasound systems manufacturing subsidiary of South Korean conglomerate Samsung Electronics, has recently hit the headlines for launching its advanced ultrasonic machine RS85. The latest machine comes with S-Shearwave Imaging which enhances the accuracy of tumor diagnosis by utilizing transverse elasticity. In addition to it, the machine has also been embedded with highly advanced function namely MV-Flow that helps in detecting lesions in microvascular tissues, something which conventional Doppler ultrasound technology is bereft of. Furthermore, RS85 is said to be of immense usage to large medical establishments as its monitor arm has a broad range of motion than the prevailing devices.
Complementing the aforementioned factors, the latest trends that have lucratively impacted the overall diagnostic ultrasound industry include intuitive interfaces, miniaturization of equipment, the introduction of wireless transducers, and the inclusion of more clinal applications. Leading industry players are anticipated to discover more specialized methods aimed at broadening the diagnostic capabilities of ultrasound devices, which would expand the diagnostic ultrasound market size at a swift pace in the forthcoming years. According to the latest estimates published by Global Market Insights, Inc, diagnostic ultrasound market is forecast to accrue a total revenue of USD 7 billion by 2024.
