Ultrasound market projected to reach $6.2 billion by 2015

The global medical ultrasound equipment market is expected to reach $6.2 billion in sales by 2015, according to a new report from market research firm Global Industry Analysts (GIA).

Technology advances such as 3D and 4D have contributed to the development of new innovative equipment, according to the San Jose, CA-based firm. Ultrasound device miniaturization and continued incorporation of system electronics into ultrasound technology is another market trend, the company said.

The market for portable ultrasound equipment also is expected to undergo rapid growth in the future, due to the flexibility in usage, simplified operations, cost-effectiveness, and portability of the equipment, GIA said.

In regional markets, the U.S. and Europe collectively account for about a 60% share of the global ultrasound equipment market. However, the Asia-Pacific sector is expected to witness the fastest growth, growing at a 5% compound annual growth rate (CAGR) through 2015, according to GIA.

The overall U.S. ultrasound equipment market is near saturation and is essentially being driven by the need to replace aging equipment and to upgrade systems to new advanced technologies, GIA said. In Europe, demand for ultrasound systems is largely a factor of cost, according to the company. Germany, France, and the U.K. contribute about a 65% share of European ultrasound equipment revenues.

In other findings, radiology is the leading application use area, capturing approximately a 40% share of medical ultrasound equipment sales. However, cardiology ultrasound equipment represents the fastest-growing segment, the company said.

On the basis of price/performance, high-performance ultrasound equipment held more than a 30% share of 2008 sales, according to GIA.

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X-ray film market still growing, April 22, 2008

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