Ultrasound Imaging Solution: Market Insights
Ultrasound Imaging is an essential diagnostic tool that utilizes high frequency sound waves to generate visual images of internal organs, blood flow or tissues inside the human body. The high frequency sound waves emitted out of an ultrasound device are transmitted to the affected area under examination. The transmitted waves after striking the organ surface returns back in form of eco and are received by the physician, thereby producing a dynamic live image of the focused organ. Unlike X-ray imaging, ultrasound imaging does not involve usage of any ionizing radiation or nephrotoxic contrast agents. In comparison with the other medical imaging modalities, ultrasound imaging is capable of providing real-time, cost-effective and non-invasive imaging that is done via easy-to-use, and portable device. Due to the rising prevalence of cardiac disorders and internal damage, ultrasound imaging solution market registers a robust growth. The ultrasound imaging find major applications in point-of-care diagnostics that enables immediate diagnosis of a disease, patient’s hemodynamic conditions and internal tissue damage. These imaging solutions are highly used in emergency rooms, ambulances and battlefield.
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Based on the type of software, ultrasound imaging solution market has been categorized in to two different types including integrated software and standalone software. However, on the basis of imaging type, the ultrasound imaging can be performed as 2D, 3D/4D and Doppler imaging. Followed by application, ultrasound imaging being an elemental diagnostic tool used to evaluate, diagnose and treat different medical conditions, found large scale applications. Some of the major applications include cardiology, obstetrics & gynecology, nephrology & urology, orthopedic, dental, oncology and radiology.
The growing demand for integrated software solutions and 3D imaging by radiologists and physicians is projecting the growth of ultrasound imaging solution market. The ultrasound imaging software has been registering a wide usage owing to the benefits associated with the software such as efficient diagnosis, rapid image enhancement, point to point measurement, contour detection, image restoration and many other features, thereby driving the revenue generation in ultrasound imaging solution market. For instance, GE Healthcare in Sep 2016, entered into a collaborative agreement with Trice Imaging, Inc., a cloud-based medical imaging solution provider. This collaboration was done to expand and enhance cloud-based image sharing capabilities, diagnostic capabilities, remote reviewing, and to facilitate real-time ultrasound image sharing amongst physicians and clinicians.
Ultrasound Imaging Solution: Market Dynamics
Rise in prevalence of chronic diseases such as cardiovascular diseases and poor patient diagnosis imaging is driving the urgency to adopt ultrasound image analysis software so as to improve the disease diagnosis. Also, increasing geriatric population coupled with growing prevalence for cardiovascular diseases and high advantages over convention imaging techniques are some of the key factors driving the growth of ultrasound imaging solution market. The ability to generate high quality image and perform real time volumetric imaging is further boosting ultrasound imaging solution market across the globe. However, moving forward, the integration of these solutions while enhancing their diagnostic capabilities is expected to be a challenging task for ultrasound imaging solution market growth.
Ultrasound Imaging Solution Market: Overview
Based on software type, integrated software are most commonly used ultrasound imaging solutions over standalone software owing to the widespread increase in clinical applications. Usually integrated software is broadly used in radiology applications in order to improve workflow and overall efficiency. Integrated software segment thus accounts for the largest revenue share in ultrasound imaging solution market. The segment is anticipated to follow the same trend in ultrasound imaging solution market over the coming years owing to its cost-benefit advantages coupled with high applicability to the existing IT structure in any healthcare organization.
However, on the basis of imaging type and application, 3D/4D imaging and obstetrics & gynecology registers major revenue shares in ultrasound imaging solutions market. 3D/4D ultrasound systems find large application in diagnostic imaging owing to the growing management of chronic diseases.
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Ultrasound Imaging Solution Market: Region-wise Outlook
On the basis of geography, global ultrasound imaging solution market is segmented into seven key regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan and Middle East & Africa. North America holds the largest revenue shares in the global ultrasound imaging solution market on the account of increasing footprint of developed pharmaceutical companies and increased launch of commercialized products. However, Asia-Pacific is anticipated to register the highest growth in ultrasound imaging solution market during the forecast period due to the rising healthcare expenditure and continual upgradation in infrastructure and technology. Also, Western Europe is anticipated to register a moderate growth in global ultrasound imaging solution market over forecast period.
Ultrasound Imaging Solution Market: Key Players
Some of the key players present in global Ultrasound Imaging Solution market are GE Healthcare, Philips Healthcare, MIM Software, Inc., Merge Healthcare Incorporated, Esaote SpA, Xinapse Systems Ltd, MIM Software, Inc., Spacelabs Healthcare, Inc. and others