Ultrasound is a medical imaging technology that involves use of high-frequency sound waves to visualize the internal body organs. The ultrasound technology is employed with the help of a probe that transfers ultrasonic sound waves of the highest frequency in the body of the patient. These ultrasonic waves are then reflected by the body organs into the probe and they are transmitted to a display machine that generates an image along with echoes. The ultrasound transducer are helpful to determine the accurate position of the object by calculating the distance from the original source echo generated by the object. Moreover, ultrasound transducer are used to observe the functioning of the heart, the blood vessels, the kidneys, the fetus, the liver, the gall bladder, and other organs. In addition, it is employed to examine pregnant women and conduct sonography, which can aid in therapeutic procedures and diagnostics. Ultrasound transducer systems are available in various sizes and shapes. 

Increase in cases of chronic diseases, rise in the demand for minimally invasive therapies, surge in awareness about early diagnosis of diseases, and increase in the number of ultrasound diagnostic imagining procedures are anticipated to drive the ultrasound transducers market during the forecast period. Wide range of applications of ultrasound transducers and increasing demand for portable and ultraportable diagnostic ultrasound systems in the field of gynecology & obstetrics are driving the ultrasound transducers market. However, technological limitations of ultrasound transducer systems and lack of experience and skilled sonographers are major factors restraining the ultrasound transducers market.  

The global ultrasound transducers market can be segmented based on type of probe, product, modality, application, and region. In terms of product, the market can be divided into therapeutic ultrasound systems and diagnostic ultrasound systems. In terms of type of probe, the market can be classified into transesophageal echocardiography transducers, convex transducers, linear transducers, phased array transducers, and endocavitary transducers. Linear transducers are widely used for different applications such as blood vessel visualization, laparoscopy, vesicular examination, and intraoperative procedures. Hence, the linear transducers segment is expected to account for a leading share of the market during the forecast period. Based on modality, the market can be segmented into handheld and portable. Based on application, the market can be segregated into cardiology, gynecology/obstetrics, vascular, radiology, urology, and others (including anesthesiology, musculoskeletal, and emergency medicine). The cardiology segment is expected to dominate the market for ultrasound transducers in the next few years, due to increasing the prevalence of cardiovascular diseases, growing number of patient awareness programs, and rising geriatric population that has undergone bypass surgery.  

Based on region, the global ultrasound transducers market can be segmented into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Europe is projected to expand at a rapid pace during the forecast period, due to availability of sophisticated health care infrastructure, rising cases of chronic disorders, and increasing demand for ultrasound systems with advanced technology in the region. Presence of leading market players is a factor responsible for major share of North America in the global ultrasound transducers market. The market in Asia Pacific is expected to expand at a rapid pace during the forecast period, due to rapidly growing elderly population, developing health care infrastructure for diagnosis of chronic disorders, and increasing medical needs in the region. 

The global ultrasound transducers market is highly fragmented, due to presence of a large number of global as well as local players. Key players operating in the global market are Koninklijke Philips N.V, Analogic Corporation, Esaote SpA, GENERAL ELECTRIC COMPANY, Hitachi, Ltd., FUJIFILM Corporation, Samsung Medison Co. Ltd., Mindray Medical International Limited, Siemens Healthcare Private Limited, and CS Medical LLC.

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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Ultrasound Transducers Market

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