Pune, India, Feb. 23, 2022 (GLOBE NEWSWIRE) -- The ultrasound equipment market size is projected to grow from USD 7.80 billion in 2021 to USD 12.93 billion in 2028 at a CAGR of 7.5% in the 2021-2028 period.This information is provided by Fortune Business Insights™, in its report, titled, “Ultrasound Equipment Market, 2021-2028.”
Industry Development
June 2020: Koninklijke Philips N.V., declared that the healthcare establishments in Japan permitted Lumify, which is its handheld solution. The company further intends to commercialize its great-quality transportable ultrasound device obtainable practically everywhere across Japan.
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Market Growth Drivers:
- Few of the prominent market players are accentuating on developing progressive devices and systems incorporated with Artificial Intelligence (AI).
- This incorporation is being advocated to tackle and solve specific restrictions linked with orthodox devices such as long period of time consumed to carry out the investigation, poor image superiority in explicit cases, elevated reliance on operators to procure and deduce images, and so on.
- Therefore, the presentation of innovative systems with artificial imaging by prominent players is anticipated to bolster the Ultrasound Equipment Market growth during the upcoming years.
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The outbreak of COVID-19 has had an overall negative effect on the market. The pandemic has produced commotions in the supply chain of medical devices across the globe.
On the contrary, the production capability of some of the players has been influenced owing to the inaccessibility of domestically obtained raw materials or fragments.
Competitive Landscape
GE healthcare controlled the business and was answerable for the most noteworthy piece of the pie in 2020. The control of GE medical care is an outcome of holding a powerful item portfolio and expanding the conveyance organization of the organization, which offers a strategic advantage to the organization.
List of Key Players Covered in the Ultrasound Equipment Market Report
- GE Healthcare (Chicago, U.S.)
- Koninklijke Philips N.V. (Amsterdam, Netherlands)
- CANON MEDICAL SYSTEMS CORPORATION (Tokyo, Japan)
- Hitachi (Tokyo, Japan)
- Siemens Healthcare (Erlangen, Germany)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (Shenzhen, China)
- Samsung Medison Co., Ltd. (Suwon-si, South Korea)
- Esaote (Genoa, Italy)
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Further Finding of Reports:
On the basis of product, the ultrasound Ultrasound Equipment Market is segregated into table-top & compact systems. The table-top segment held the maximum market share in 2020 owing to the greater rate of acceptance of table-top equipment in hospitals & clinics along with its moderately lesser cost than compact systems.
In terms of application, the global market is classified into radiology, gynecology, cardiology, Point of Care, Urology, Surgery, and others.
Asia Pacific held the maximum ultrasound equipment market shares and was worth USD 2.82 billion in 2020. The growth of this region is accredited to the incessant emphasis of key companies on novel product expansion in the region.
North America region held the second-highest global market share in 2020 owing to augmented sales quantities of these gadgets.
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