Ultrasound-based Imaging Market: Introduction

  • Ultrasound-based imaging employs sound waves to produce pictures of the inner side of the body. It is usually carried out to diagnose the causes of pain, infection, and swelling in the body's internal organs. In pregnant women, ultrasound-based imaging is employed to examine the fetus.
  • Ultrasound imaging is conducted in real time, which enables the operator to watch the movement of the body's internal organs as well as the blood flowing through the blood vessels
  • Ultrasound imaging has been in use for the last more than 20 years and it has excellent safety record. In ultrasound imaging, ionizing radiations are not used. Thus, it does not involve the risks associated with X-ray or other types of imaging systems that use ionizing radiations.
  • Also, ultrasound imaging is the most widely used medical imaging method for examining the fetus during pregnancy. In this method, several routine examinations are performed to monitor and assess the health of the fetus and the mother.

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Key Drivers of Global Ultrasound-based Imaging Market

  • The health care industry in developed nations is expanding at a pace higher than any other industry. Growth of aging population, increasing prevalence of chronic diseases, and growing search for better quality of life have augmented the health care industry. This, in turn, is expected to fuel the global market for ultrasound-based imaging during the forecast period.
  • In recent years, the demand for integrated software solutions and 3-D imaging has increased significantly amongst radiologists so as to achieve better understanding and accurate results. This, in turn, is estimated to propel the global ultrasound-based imaging market during the forecast period.
  • Various governments have recommended to reduce unnecessary radiation exposure from medical imaging. Health care providers must consider examinations that use little or no exposure to ionizing radiations, such as ultrasound or MRI (magnetic resonance imaging). This, in turn, is expected to augment the global ultrasound-based imaging market during the forecast period.

Restraints of Global Ultrasound-based Imaging Market

  • The ultrasound energy has potential to cause effects on the human body. Ultrasound waves can increase the temperature of the tissues. Moreover, in some cases, they can also generate small pockets of gas in the body fluids or tissues (cavitation). This can have long-term consequences on the human body. 

Major Developments

  • Northwestern Medicine recently began a research study by making use of ‘Bay Labs,’ an artificial intelligence-based EchoGPS cardiac ultrasound guidance software, which helps in enabling certified medical assistants (CMAs) with no prior scanning experience to capture high-quality echocardiograms (ECGs). Furthermore, the study would test the quality of EchoMD measurement and interpretation software suite in the detection of certain types of heart diseases that are common among patients aged 65 years or above and undergoing routine physical examinations in primary health care settings.
  • In 2018, at the Radiological Society of North America (RSNA) meeting, Hitachi launched its new mid-range ultrasound system called Arietta 65. The new system uses a small trackball to make the keyboard smaller and to enable shorter hand movements, making the system more ergonomic.
  • The Philips Epiq and Affiniti ultrasound systems introduced at the RSNA 2018 offer anatomical intelligence for breast imaging to enhance reproducibility and streamline the workflow. The automation and AI provide visual mapping and annotation of screened anatomy, with minimal user interaction.

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Asia Pacific to Hold a Major Share of Global Ultrasound-based Imaging Market

  • Based on region, the global ultrasound-based imaging market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa  
  • Asia Pacific is expected to be a leading market for ultrasound-based imaging from 2020 to 2030. High investments in the health care industry, especially in developing countries such as China and India, and favorable government initiatives are likely to drive the market in the region between 2020 and 2030.
  • North America is expected to hold a considerable share of the global ultrasound imaging market during the forecast period, as a result of expanding footprint of leading pharmaceutical companies and rise in the launch of commercialized products in the region
  • Also, in recent years, Europe has witnessed rise in investments in electronic health records. Hospitals in the region are investing in solutions that can support better data integration, increased workflow optimization, and delivery of smart digital services to patients. This, in turn, is estimated to drive the ultrasound-based imaging market in Europe during the forecast period.

Key Players Operating in Global Market

Some of the major players operating in the global ultrasound-based imaging market are:

  • GE Healthcare
  • Philips Healthcare
  • MIM Software, Inc.
  • Siemens Healthcare Private Limited
  • Merge Healthcare Incorporated
  • MIM Software, Inc.
  • Spacelabs Healthcare, Inc.
  • Merge Healthcare Incorporated
  • Esaote SpA
  • Xinapse Systems Ltd 
  • Hitachi Healthcare

Global Ultrasound-based Imaging Market, by Software Type

  • Integrated
  • Standalone

Global Ultrasound-based Imaging Market, by Type

  • 2D
  • 3D/4D
  • Doppler

Global Ultrasound-based Imaging Market, by Application

  • Cardiology
  • Obstetrics & Gynecology
  • Nephrology & Urology
  • Orthopedic
  • Dental
  • Oncology
  • Radiology

Global Ultrasound-based imaging Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Italy
    • Spain
    • France
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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