The global Ultrasound Systems Market is anticipated to reach a market value of over US$ 13.2 Bn by the end of 2028, growing at an impressive CAGR of 5.5% during the forecast period, according to the findings of a global forecast mentioned in the report titled "Ultrasound Systems Market - Global Industry Analysis 2012 - 2021 and Opportunity Assessment 2022 - 2028".
The ultrasound systems market has been restructured as a result of healthcare industry digitization. The market as well as patients have profited from the industry's improvements, since the need for medical examinations has increased over the past ten years.
A recent market research report by Future Market Insights, which examines the Global Ultrasound Systems Market in-depth and comprehensively, reveals a significant market expansion due to improved patient services and the simpler internal body examination technique made possible by the use of ultrasound systems.
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Favourable Government Policies to Benefit Start-up Companies and Independent diagnostic centers
In an effort to help new start-ups entering the healthcare and medical device industries, governments in several regions, including Asia Pacific and MEA, have strengthened their programmes. Taxes are excluded for the first three years, and costs associated with patent protection are covered, among other things.
The goal of the action is to expand the market for medical equipment as a whole. Particularly, the global market for medical imaging has established a stand-alone position. The number of independent imaging centres is anticipated to increase in the global market due to improvements in services and cutting-edge facilities connected to ultrasound or any other imaging techniques.
The companies have also independently introduced handy and user-friendly devices in the market. GE, Philips, Samsung, Fukuda, Mindray, Hitachi, Toshiba, and Siemens, all these companies offer their own particular models.
The coming years will showcase more advanced ultrasound systems, which will provide an image clearer than 3D or 4D pictures.
Hospitals to hold largest share in Ultrasound Systems Market with highest demand for application in Radiology
Hospitals shift toward more value-oriented products, they need to operate more efficiently and productively. Similarly, a quality shift has occurred with patients, who more proactively involved in their care. Trends from the shift to value-based care include data integration and population health management.
An influx of data combined with advancements in imaging helps leverage these data to not only bring further value but also apply it to broader populations. Along with the clearer and high definition pictures that are a part of ultrasound systems, there has also been an introduction to the portable machines.
These are the more handy and easy to move form of ultrasound systems that have come into existence not long ago. Although the developed nations are already familiar with the technology, the market may find a higher prospects of growth in the developing regions. The market analysis has shown that hospitals hold the highest market share in the Global Ultrasound Systems Market, however diagnostics imaging and surgical centers are expected to raise a higher demand for the systems in the coming years.
In terms of application the market is also dominated by Radiology as the key application area for ultrasound systems and is expected to continue growing further at a CAGR of 6.3% during the forecast period, as analyzed by FMI.
Key Market Segments Covered in Ultrasound systems Market Research
- Cart/Trolley Based
- Compact/Hand Held
- Obstetrics & Gynaecology
By End User:
- Hospitals & Clinics
- Diagnostic Imaging & Surgical Centers