Harrisburg, NC -- (SBWIRE) -- 10/21/2020 -- Ultrasound Devices And Equipment Global Market Report 2020 Including: 1) By Type: Diagnostic Ultrasound Systems, Therapeutic Ultrasound Systems
The ultrasound devices and equipment market consists of sales of ultrasound devices and equipment and related services. 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).
The global ultrasound devices and equipment market was valued at about $8.9 billion in 2018 and is expected to grow to $10.13 billion at a CAGR of 3.3% through 2022.
Government and private funding in ultrasonic devices manufacturing companies is driving the growth for 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, during 2015-2017, Chinese ultrasonic companies like Sonoscape, Mindray and SIUI have benefitted from 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, these funding's would not only encourage innovative devices but boost the market as well.
Major players in the market are GE Healthcare, Siemens Healthineers, Philips Healthcare, Mindray Medical International Ltd and Fujifilm Holdings Corporation.
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Strict approvals and regulations by government bodies such as US Food and Drug Administration (FDA) is hampering the growth of Ultrasound system devices and equipment market. The manufacturers are required to comply 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 concern.
Introduction of the 3D/4D Ultrasound devices is the latest trend that is going to change the landscape of ultrasound devices and 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.
Safety and effectiveness of ultrasound system devices and equipment is heavily monitored and regulated across the world. In 2018, the Indian Government has decided to thoroughly monitor these devices as they are being imported to India without much registration protocols. In order to ensure the efficiency & safety of ultrasound system devices and prevent the abuse of these devices for sex selection, the Drug Technical Advisory Board (DTAB) has included these devices in medical devices category and will now monitor and regulate import, manufacture, distribution and sale of these devices. An additional permission to be taken from Central Drugs Standard Control Organization (CDSCO) is required by the manufacturers of ultrasound system devices. These stringent regulatory policies may impact the ultrasound system devices and equipment market in India, one of the fastest growing market.
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INFLUENCE OF THE Ultrasound Devices And Equipment Market REPORT:
-Comprehensive assessment of all opportunities and risk in the Ultrasound Devices And Equipment Market.
- Ultrasound Devices And Equipment Market recent innovations and major events.
-Detailed study of business strategies for growth of the Ultrasound Devices And Equipment Market -leading players.
-Conclusive study about the growth plot of Ultrasound Devices And Equipment Market for forthcoming years.
-In-depth understanding of Ultrasound Devices And Equipment Market -particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Ultrasound Devices And Equipment Market.
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluates key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Ultrasound Devices And Equipment Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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