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Global Medical Ultrasound Equipment Market to Reach US$5.6 Billion by 2015, According to a New Report by Global Industry Analysts, Inc.

During tough economic conditions, end-users generally tend to curtail their purchasers or procrastinate them. This has precisely been the fate of medical equipment in the recession that surfaced in 2008 and aggravated in 2009. Ultrasound equipment was no exception to this change in fortune. Hard pressed by lack of finances, several hospitals delayed their medical equipment purchases, while some scaled down to purchases of refurbished/used equipment or relatively less expensive equipment.

While not showing as drastic declines shown by its competing products such as CT and MRI , sales of ultrasound equipment did plunge in 2009. The relative comfort experienced by ultrasound equipment is largely due to a shift in purchases from expensive MRI and CT to relatively less expensive ultrasound equipment.

Since its introduction in the early 1950s, medical ultrasound has captured a major share of the medical imaging market next to X-Ray. Today, ultrasound systems are ubiquitous, found commonly in the medical establishments of surgeons, obstetricians, cardiologists, and others. The technology is apposite for use in a wide array of patients, and is perceived as safe and patient-friendly equipment. Applications in new segments such as administration of emergency medicine and the emergence of portable ultrasound devices or hand-held ultrasound devices are driving demand for these products in the medical field. Hospitals and various other healthcare institutions worldwide have adopted this modality, generating significant market opportunities for manufacturers of ultrasound equipment. The technology remains as an effective and low-cost imaging technology.

Future growth in the ultrasound equipment market would be driven by substantial growth in hand-held/portable devices and demand from clinical applications that require point-of-care imaging. In addition, developments in medical imaging market are also expected to drive growth because of the growing elderly population across the globe and increase in chronic disease rates. However, medical ultrasound market experiences several constraints such as strong competition from other medical imaging technologies like CT and MRI, slow growth in economies of many countries, and limitations of reimbursement. Rising competition in the market, meanwhile, is expected to put further pressure on prices. Resultantly, many manufacturers would be compelled to cut prices of existing cart-based models, and in turn rely on expanding prospects from hand-held ultrasound devices.

The US represents the largest regional market for medical ultrasound equipment worldwide, as stated by the new market research report on Medical Ultrasound Equipment. Europe trails behind the US. A mature market in the developed regions such as North America and Western Europe, and emerging prospects from the developing countries characterize the present global ultrasound equipment market. Latin American market for medical ultrasound equipment is expected to post a CAGR of 5.2% over the analysis period. Radiology represents the largest end use segment of the global medical ultrasound equipment market. Vascular end-use market for ultrasound equipment is projected to post a CAGR of 2.9% during the analysis period.

Major players profiled in the report include Aloka Company Ltd., Esaote SPA, GE Healthcare, Hitachi Medical Systems America, Medison Co Ltd, Philips Healthcare, Siemens Healthcare, SonoSite Inc., TomTec Imaging Systems GmbH, Toshiba Medical Systems Corp., among others.

The research report titled "Medical Ultrasound Equipment: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of the medical ultrasound equipment markets, impact of the recession on the ultrasound equipment market, current market trends, key growth drivers, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants.

The report provides annual sales estimates and projections for medical ultrasound equipment market for the years 2007 through 2015 for the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, The Middle East, and Latin America. End-use applications analyzed in the study include Radiology, Cardiology, Obstetrics/Gynecology, Vascular, and Other Ultrasound Equipment Markets. Also, a seven-year (2000-2006) historic analysis is provided for additional perspective.

Source: Global Industry Analysts, Inc.

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