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2017
Ultrasound Devices Market

Ultrasound Devices Market

for Pediatric Radiology by Age Group (Newborns (0-6 months), Infants (6 months-1 year), Toddlers (1-3 years), Preschoolers (4-6 years), School-aged children (6-13 years), and Adolescents (13-19 years)), by Portability (Trolley/Cart-Based Ultrasound Devices and Compact/Handheld Ultrasound Devices), By Price (Premium Ultrasound Systems, High-end Ultrasound Systems, Midrange, and Low-end Ultrasound Systems) - Global Opportunity Analysis and Industry Forecast, 2014-2022
Update Available On-Demand

Report Code: A01571
Pages: 159
May 2017 | 8072 Views
Author(s) : Deepa Tatkare
Tables: 61
Charts: 41
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Ultrasound Devices Market Overview:

Global Ultrasound Devices Market for pediatric radiology was valued at $661 million in 2015, and is poised to reach $1,112 million by 2022, registering an estimated of CAGR 7.6% during the forecast period. Ultrasound is a non-invasive diagnostic imaging method that uses high frequency sound waves to visualize images of the internal structures of the human body. Pediatric radiology is a subspecialty that involves radiologic manifestations of diseases that are prevalent among the pediatric population. The report analyzes the ultrasound devices market for pediatric radiology based on age group, portability, price, and geography.

Segment Review

According to the AMR analysis, the ultrasound devices market for pediatric radiology for school-aged children has experienced moderate growth in the recent years. The incidence rate of a disease increases with age of an individual. Thus, the adoption of ultrasound devices is expected to be high in this age group for radiology investigations, owing to lifestyle changes, food habits, and pollution exposure. As the age of a child increases, precision becomes a less important factor for selecting the device used for diagnosis.

The global ultrasound devices market for school-aged children is estimated to be valued at $128 million by 2022, registering a CAGR of 7.1% during the forecast period. This is mainly attributed to lifestyle changes such as tobacco smoking & eating habits, which could lead to obesity and various acquired diseases in this age group.

Top Player Positioning

The major participants in the global ultrasound devices market for pediatric radiology include GE Healthcare, Philips Healthcare, Toshiba Medical Systems Corporation, Siemens Healthcare, Mindray Medical International Limited, and Samsung Medison Co. Ltd.

These players have focused on product innovation and product development to sustain the intense competition in the ultrasound devices market for pediatric radiology. GE Healthcare is the leading player in the industry, owing to its broad product portfolio in cart-based and compact ultrasound devices segment. It has adopted strategies, such as product development and product commercialization, to maintain its leading position in the market. It has increased its focus towards the development of low cost, point-of-care ultrasound devices to capture the emerging markets.

Key Benefits

  • The study provides an in-depth analysis of the global ultrasound devices market for pediatric radiology along with the current trends and future estimations to elucidate the imminent investment pockets.
  • The report provides a quantitative analysis for the period of 2014-2022 to enable stakeholders to capitalize on the prevailing market opportunities.
  • Extensive analysis of the global ultrasound devices market for pediatric radiology helps in understanding the applications of ultrasound devices for various radiological procedures for pediatric population.
  • Competitive intelligence highlights the business practices followed by leading market players across various geographies.

Ultrasound Devices Market Key Segments

The ultrasound devices market for pediatric radiology market is segmented based on age group, portability, price, and geography.

By Age Group

  • Newborns (0-6 months)
  • Infants (6 months to 1 year)
  • Toddlers (1-3 years)
  • Preschoolers (4-6 years)
  • School-aged Children (6-13 years)
  • Adolescents (13-19 years)

By Portability

  • Trolley/Cart-based Ultrasound Devices
  • Compact/Handheld Ultrasound Devices

By Price

  • Premium Ultrasound Systems
  • High-end Ultrasound Systems
  • Midrange Ultrasound Systems
  • Low-end Ultrasound Systems

By Region/Country

  • North America
  • China
  • Rest of the World

The key companies profiled in the report are Analogic Corporation, Esaote SpA, Fujifilm Corporation, General Electric Company, Hitachi, Ltd., Koninklijke Philips N.V., Mindray Medical International Limited, Samsung Medison Co. Ltd. (a subsidiary of Samsung Electronics Co. Ltd.), Siemens AG, and Toshiba Corporation. Other players operating in this market include Volcano Corporation, Terason Division Teratech Corporation, Signostics Ltd, Olympus Corporation, Carestream Health, SuperSonic, and Trivitron Healthcare.

 

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The adoption of ultrasound devices for pediatric radiology investigations is expected to increase in the near future, owing to the high prevalence of congenital diseases among the pediatric population. Ultrasound devices have piqued the interest of healthcare providers for carrying out radiology investigations in children due to the associated benefits such as non-invasive nature, non-emission of radiation, and accurate diagnosis in short turnaround time. The market for ultrasound devices for pediatric radiology is flanked with remarkable technological advancements to cater to the requirements of pediatric radiologists. The rest of the world segment (particularly Asia-Pacific and LAMEA) is expected to offer lucrative opportunities to market players, as the markets in the developed nations are saturated with large number of ultrasound device providers. In addition, the market has experienced a paradigm shift in the recent years, because the major players have focused on distributing their new products in the emerging markets including Asia-Pacific.

The growth of the ultrasound devices market is attributed to factors such as increase in incidence of various diseases among the pediatric population, surge in demand for pediatric radiology procedures in the emerging markets, and rapid integration of IT in radiology for accurate diagnosis. However, plummeting reimbursement rates for ultrasound procedures and dearth of skilled and experienced radiologists are projected to hamper the market growth.

In the present scenario, the newborns age group segment accounted for majority of the revenue share in the global market, and is expected to grow at a remarkable rate during the forecast period. This is attributed to the increase in burden of congenital defects among the newborn and infant population. This age group requires the use of high quality premium devices with superior precision. In terms of volume, the adolescent segment held the major share in the market, and is expected to maintain its dominance throughout the forecast period. The scenario for ultrasound devices with respect to age groups differs with increase in age, as diagnosis of congenital defects requires the use of high quality precision devices. On the contrary, anatomical changes are evident with increase in the age of children. Acquired diseases are prevalent in children in the higher age groups, which does not require high precision devices for their diagnosis.

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