New York, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ultrasound Systems Devices And Equipment Global Market Report 2023" - https://www.reportlinker.com/p06277187/?utm_source=GNW
The global ultrasound systems devices and equipment market will grow from $9.72 billion in 2022 to $10.23 billion in 2023 at a compound annual growth rate (CAGR) of 5.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The ultrasound systems devices and equipment market is expected to grow from $12.06 billion in 2027 at a CAGR of 4.2%.
The ultrasound systems devices and equipment market consist of sales of diagnostic ultrasound systems (2d imaging systems, 3d & 4d imaging systems, Doppler imaging) and therapeutic ultrasound systems (high-intensity focused ultrasound, extracorporeal shockwave lithotripsy).Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Ultrasound systems are machines used to see internal body structures based on the ultrasound application. Ultrasound systems are used in applications such as radiology/general imaging, orthopedic, cardiology, obstetrics/gynecology, vascular, urology, and other applications (breast imaging, hematology, anesthesiology, and emergency care).
Western Europe was the largest region in the ultrasound devices and equipment market in 2022.North America was the second largest market in ultrasound devices and equipment market.
The regions covered in the ultrasound devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main types in the ultrasound devices and equipment are diagnostic ultrasound systems and therapeutic ultrasound systems.Diagnostic ultrasound systems are used in examining the internal organs.
The various products are A-Mode, B-Mode or 2D Mode, C-Mode, M-Mode, Doppler mode, pulse inversion mode, and harmonic mode. These are used by hospitals, diagnostic imaging and surgical centres, ambulatory surgical centres (ASCs), and clinics.
Government and private funding in ultrasonic device manufacturing companies are driving the growth of the ultrasound systems device and equipment market.The investments by private firms as well government would provide adequate capital for the ultrasonic device manufacturing companies to conduct research and development and develop innovative and advanced ultrasound devices.
For example, Chinese ultrasonic companies like Sonoscape, Mindray, and SIUI have benefitted from a government initiative to boost local manufacturers.Also, Private equity firm KKR decided to invest $35 million in Australia’s ultrasound device maker Signostics Ltd.
Hence, this funding would not only encourage innovative devices but boost the market as well.
Strict approvals and regulations by government bodies such as US Food and Drug Administration (FDA) is hampering the growth of the Ultrasound system devices and equipment market.The manufacturers are required to comply with several regulations in the form of device quality check, labeling, premarket approval, device investigation, and reporting, apart from the regular registration process.
Such excessive, strict, and rigid regulations are restraining the market’s growth.Due to these stringent regulations, many manufacturers prefer to outsource the manufacturing to other countries where no such regulations are imposed.
For example, FDA rejected the launch of EDAP TMS’s latest High-Intensity Focused Ultrasound (HIFU) device stating safety concerns.
The introduction of the 3D/4D Ultrasound devices is the latest trend that is going to change the landscape of ultrasound devices and the equipment market.The 3D/4D technology ultrasound device provides real-time enhanced imaging of the internal anatomy/fetus, also enabling real-time volume imagining.
This technology can also help in performing complex surgeries.The 3D/4D ultrasound device would also feature improved image visualization power, shorten examination time and decrease strain injury during the surgery.
For example, Toshiba’s Aplio i900 Ultrasound machine makes use of the 3D/4D technology.
The safety and effectiveness of ultrasound system devices and equipment is heavily monitored and regulated across the world.In November 2021, the Central Drugs Standard Control Organization (CDSCO), Indian regulator of drugs and medical devices, came up with a notification for the use of ultrasound equipment.
From the date of release, ultrasound devices are notified as ‘drugs’ and it will be regulated as drugs. These stringent regulatory policies may impact the ultrasound system devices and equipment market in Canada, one of the fastest-growing markets.
The countries covered in the ultrasound devices and equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, USA, and Australia.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The ultrasound devices and equipment market research report is one of a series of new reports that provides ultrasound devices and equipment market statistics, including ultrasound devices and equipment industry global market size, regional shares, competitors with a ultrasound devices and equipment market share, detailed ultrasound devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the ultrasound devices and equipment industry. This ultrasound devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06277187/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
