China Ultrasound Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

China Ultrasound Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

China ultrasound devices market was valued at USD 997.06 million in 2021 and is projected to register a CAGR of 6.12% during the forecast period (2022-2027).

COVID-19 had an adverse impact on the ultrasound devices market in China. Lack of early diagnosis resulted in overpopulation in public hospitals, a shortage of personal protective equipment, and fatigue among medical staff members. Due to the increase in resource costs for the nation, the number of infected patients increased broadly and exponentially in the early phases of the pandemic. The National government-mandated response to COVID-19 in China was a declared state of emergency and a state-wide lockdown in January 2020, according to the study report "COVID-19: sustaining key rehabilitation services across the care continuum" published in BMJ Global Health. In China, Ultrasound Is Helping Doctors Fight COVID-19, In a letter to the editor published in the Journal of Intensive Care Medicine in March 2020, a group of Chinese doctors, including Wang, described their experiences with lung ultrasound. They had done lung ultrasound exams on 20 COVID-19 patients. The results of lung ultrasonography are comparable to chest CT and superior to standard chest radiography. COVID-19 has had a significant impact on point-of-care ultrasound, as many health-care providers have deployed ultrasound systems, particularly in point-of-care applications for COVID-19 monitoring and diagnosis.

With the rising disease burden, ultrasound devices are expected to grow over the forecast period of the study. There are several players who are technologically advanced offering products in the market and consistently upgrading their technology. Musculoskeletal ultrasound (MSUS) training rates were low in China (129/528, 24%) and current MSUS use rates were low (89/524, 17%), according to a survey titled "Musculoskeletal ultrasound imaging training, use, and knowledge among rheumatologists in China" and published in 2020. However, there was a lot of interest, particularly among younger responders, in learning about Musculoskeletal Ultrasound (MSUS). The overwhelming majority of survey participants agreed that musculoskeletal ultrasonography (MSUS) should be used as a regular clinical tool in rheumatology, and they expressed a strong desire to pursue training in this area. Major market players are also introducing and launching brand-new, cutting-edge ultrasound equipment, which will further accelerate the industry's growth. For instance, in May 2020, the China National Medical Product Administration (NMPA) granted Class III medical device qualification to the world's first remote robotic ultrasound system, MGIUS-R3, allowing it to enter the Chinese market and offer cutting-edge long-distance ultrasound diagnostic services. Thus, the abovementioned factors are expected to increase market growth.

Key Market TrendsStationary Ultrasounds Segment is Expected to Hold a Significant Market Share Over the Forecast Period

The major factors driving the growth of Stationary Ultrasounds include advanced technology and a rising cancer prevalence that required point of care diagnostics. Stationary ultrasound systems come in a number of variants each suitable for a different purpose, tailor-made to suit the radiology applications and requirements. China has one of the highest rates of chronic diseases, including cancer, cardiovascular disease, and other illnesses including abdominal, which are predicted to propel the study market's expansion through time. For example, the GlOBOCAN 2020 report states that China reported 4,568,754 new cases of cancer in 2020, with a total of 9,294,006 five-year prevalent cases of cancer. Additionally, the same report predicted that the cases of cancer will reach 5,811,629 by 2030 and 6,845,787 by 2040, showing a tremendous increase in the cases of cancer in the country. As a result, the demand for ultrasound devices will rise in the country, which will fuel the growth of the studied market. Additionally, a number of Chinese businesses are making strategic investments to increase their market share in the ultrasound equipment industry. For instance, a Chinese ultrasound business called SonoScape unveiled Elite, a new generation of ultrasound scanners with integrated artificial intelligence, in September 2020. (AI). The Elite series makes use of SonoScape's Wis+ cognitive ultrasound platform. The series comes bundled with AI-driven capabilities including Lucid Imaging, Auto OB, and S-Fetus. Thus, the abovementioned factors are expected to increase market growth.

Competitive Landscape

China ultrasound devices market is moderately competitive and consists of several major players. Some of the companies that are currently dominating the market are Canon Medical Systems Corporation, Siemens Healthineers AG, GE Healthcare, Fujifilm Holdings Corporation, and Koninklijke Philips NV among others.

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