Market Overview
The next-generation ultrasound system is a device that helps in integrating the number of imaging diagnoses related to a wide variety of clinical segments. This device is beneficial for making the diagnostic work more effectively using different technological aspects. Moreover, it is better in terms of quality, mobility, and affordability than the standard ultrasound system.
According to the MarkNtel Advisors' research report, "Global Next-Generation Ultrasound System Market Analysis, 2021," the market is likely to grow at a CAGR of around 5% during 2021-26 due to the surging demand for high-quality ultrasound systems in the healthcare sector and rapid adoption of technologically advanced devices like 3D, 4D, and future 5D ultrasound systems.
Further, the mounting prevalence of target diseases and snowballing government investments to support the R&D activities for developing next-generation ultrasound devices are primary factors fueling the market growth.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR | 5% |
| Regions Covered | North America: USA, Canada, Mexico |
| Europe: Germany, UK, France, Spain, Russia | |
| Asia-Pacific: China, India, Japan, South Korea | |
| South America: Brazil | |
| Middle East & Africa: UAE, Saudi Arabia, South Africa | |
| Key Companies Profiled | BK Medical ApS (Analogic Corporation), Butterfly Network Inc., Canon Inc., Clarius Mobile Health, Esaote SpA, Fujifilm Holdings Corporation, General Electric Company, Healcerion Co. Ltd., Hitachi Ltd., Hologic Inc., Hologic, Inc., Koninklijke Philips N.V., Samsung Electronics Co. Ltd., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Shimadzu Corporation, Siemens Healthineers AG) |
| Unit Denominations | USD Million/Billion |
Impact of COVID-19
The sudden outbreak of the COVID-19 pandemic has adversely affected the Global Next-Generation Ultrasound System Market due to the lockdown imposition, movement restrictions, and stringent regulations and guidelines regarding the opening of manufacturing units, private clinics, and other laboratories. Moreover, supply chain disruptions, the declining number of skilled staff, and recruitment challenges for clinical trials further restrained the market growth.
Market Segmentation
Doppler Ultrasound Systems Accounted for the Largest Market Share
Based on the Product Type, the market segments into Diagnostic Ultrasound Systems and Therapeutic Ultrasound Systems. The Therapeutic Ultrasound Systems further bifurcates into High-Intensity Focused Ultrasound, Extracorporeal Shock wave Lithotripsy, and Doppler Ultrasound.
Among these segments, Doppler Ultrasound acquired the largest share in the Global Next-Generation Ultrasound System Market in the previous few years, primarily because it can prove sharper images in a short duration.
Further, due to the rapid penetration of technologically advanced systems across the world, Doppler Ultrasound has gained tremendous popularity in the past few years, cites MarkNtel Advisors in their research report, "Global Next-Generation Ultrasound System Market Analysis, 2021."
Cart/Trolley Based Systems Attained the Highest Market Share
Based on Portability, the market bifurcates into Cart/Trolley Based Systems, Handheld Devices & Wearable, and Portable Systems. Among these segments, Cart/Trolley Based Systems dominated the Global Next-Generation Ultrasound system Market in the previous few years due to the rapid adoption of these technologically advanced systems across the globe and the surging usage of ultrasound systems in acute care settings & emergency care in hospitals, healthcare institutions, and clinics. Thus, the segment contributes to the overall growth of the Global Next-Generation Ultrasound System Market.
Regional Landscape
North America Dominated the Market
Geographically, North America held the largest share in the Global Next-Generation Ultrasound System Market and is likely to maintain its dominance in the forecast period due to the surging penetration rate of the devices in the United States. Additionally, the rising adoption of portable devices by the end-users is likely to fuel the market growth. Further, the soaring involvements of prominent industry players engaging in the launch of new products, mounting prevalence of chronic diseases, and snowballing healthcare expenditure in the region also propel the growth of the Global Next-Generation Ultrasound System Market.
Market Driver
Mounting Technological Advancement in the Ultrasound Systems Fuel the Market Growth
One of the most primary factors accelerating the growth of the Global Next-Generation Ultrasound System Market is the integration of advanced technologies in the ultrasound systems. The need for more precise and accurate imaging requires a high-end ultrasound machine, thereby fueling the demand for the next-generation ultrasound system. Besides, its increasing applications and surging patient comfort levels due to less scan time required further propel the overall market growth.
Competitive Landscape
According to MarkNtel Advisors, the major leading players in the global Next-Generation Ultrasound System market are BK Medical ApS (Analogic Corporation), Butterfly Network Inc., Canon Inc., Clarius Mobile Health, Esaote SpA, Fujifilm Holdings Corporation, General Electric Company, Healcerion Co. Ltd., Hitachi Ltd., Hologic Inc., Hologic, Inc., Koninklijke Philips N.V., Samsung Electronics Co. Ltd., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Shimadzu Corporation, and Siemens Healthineers AG.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
A. The historical data has been provided since 2016, while the base year is 2020, and the data forecast is up to 2026.
A. The measuring units of market size/industry size or the market value are USD Million
A. The Global Next-Generation Ultrasound System Market is forecast to grow at a CAGR of 7% during 2021-26.
A. BK Medical ApS (Analogic Corporation), Butterfly Network Inc., Canon Inc., Clarius Mobile Health, Esaote SpA, Fujifilm Holdings Corporation, General Electric Company, Healcerion Co. Ltd., Hitachi Ltd., Hologic Inc., Hologic, Inc., Koninklijke Philips N.V., Samsung Electronics Co. Ltd., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Shimadzu Corporation, and Siemens Healthineers AG are few of the leading players in the Global Next-Generation Ultrasound System Market.
A. Doppler Ultrasound is likely to attain the highest CAGR during the forecast period and maintain its significant market share.
A. North America continues to grow at the highest CAGR during 2021-26, thereby presenting immense opportunities to market players of the Global Next-Generation Ultrasound System Market.
