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Posted in Medical Devices by Adolf on Oct 3,2022 716
Ultrasound systems are diagnostic tools that generate x-ray images of the organs and tissues for making diagnosis. The science of sound waves underlies the operation of ultrasound equipment. The system emits sound waves, which, when they strike a body part or an organ, reflect and produce an image of that object on a detector. The instrument is mainly used to study developing fetuses (unborn children), abdominal and pelvic organs, muscles, tendons, and heart and blood arteries of humans.
Further, driven by the mounting prevalence of chronic diseases the surging demand for high-quality and portable diagnostic tools is leading to the rapid adoption of novel technologies like 3D/4D and AI/IoT, snowballing healthcare expenditure and government investments to support the R&D activities.
The India ultrasound system market is anticipated to grow on account of growing diagnostic practices in the country. Surging demand for early and efficient diagnosis is further driving the growth of the India ultrasound system market in the upcoming 5 years. Technologies like artificial intelligence (AI), Internet of Things (IoT), etc., are also facilitating the growth of the India ultrasound system market.
New imaging techniques and the growing trend of integrated imaging technology are also supporting the growth of the India ultrasound system market. Growing disease burden, rising instances of chronic diseases like cardiovascular diseases, cancer, neurological disorders, etc., are major factors surging the demand for ultrasound systems and thus aiding the growth of the market. Cardiovascular diseases and cancer are some of the major diseases that cause rising mortality rates in the country. Rising geriatric population of the country and their susceptibility toward chronic diseases is concerning and thus, the demand for ultrasound systems is consistently increasing and substantiating the growth of the India ultrasound system market in the forecast years through 2027.
India ultrasound systems market valued at US$489.91 million in 2021, which is anticipated to further grow with a CAGR of 6.43% during the forecast period, 2023-2027, to achieve the market value of US$705.12 million by 2027. The India ultrasound system market is segmented by technology, display type, mobility, equipment type, source, application, end user, regional analysis, and competitive landscape.
Applications of ultrasound systems are expanding, and obstetrics/gynaecology application may lead the market segment based on application and hold the largest revenue shares of the market in the upcoming five years. Rising population, increasing instances of pregnancies, and rising concerns among the population regarding the healthcare of pregnant females and unborn children are also driving the segmental growth along with the growth of the India ultrasound systems market.
Some of the major market companies operating in the India ultrasound system market are Philips India Limited, Wipro GE Healthcare Private Limited, Trivitron Healthcare Private Limited, Hitachi India Private Limited, Konica Minolta Healthcare India Private Limited, Siemens Healthcare Private Limited, Fujifilm Sonosite India Private Limited, Canon Medical India Private Limited, Mindray Medical India Private Limited and BPL Medical Technologies Private Limited, among others.