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

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

The European economy is on track to grow at a good pace over the forecast period. Coupled with several large regional tenders that are expected this year, the ultrasound market is projected to see a slight uptick in demand. Governments across Europe are focusing on the promotion and support of industrial research. Several tax incentives have been provided for the industries to establish R&D units, with highly improved imaging facilities, such as ultrasound. The long-term goal of these initiatives is to develop innovative, disruptive, safe, non-invasive ultrasound technologies that enable or enhance interventional therapies for the treatment of diseases, injuries, abnormalities, and other conditions. Additionally, increasing demand for the minimally invasive device, rise in the number of the elderly population, curtailment in the size of ultrasound devices, and increasing incidences of chronic diseases (like cancer) are some of the other factors contributing to the growth of the European ultrasound devices market. However, rising demand for refurbished medical imaging devices and, lack of skilled labor to handle the equipment are restraining the market growth.

Key Market TrendsPortable Ultrasound Segment Estimated to Dominate the Market Over the Forecast Period

Portable ultrasound has varied applications in point-of-care treatments, emergency rooms, and at home. Hospitals and other healthcare providers are switching to portable and handheld ultrasound imaging devices, due to the ease of use and precision. The applications of portable ultrasound devices are increasing, as they are now being used in emergency rooms and while administering anesthesia. With advancements in technology, the manufacturers are not only making the devices more compact and portable but are also incorporating newer technologies, such as 3D and 4D imaging. The number of such patients using portable ultrasound devices at home has increased. Pre-medicine is another area where there is scope for the growth of the portable ultrasound market. The already well-equipped ambulances can now carry a space-saving portable ultrasound device, which helps the paramedics to send images to the hospitals in advance, to accelerate the treatment offered during a medical emergency.

Competitive Landscape

The market comprises several major market players focusing on R&D, in order to form a stable and safe formulation. The market has been noticing technological developments on a large scale for the past couple of years. For instance, in February 2018, the AI technology used for advanced gaming and driverless cars powered the new GE Healthcare ultrasound system. Some of the market players are Fujifilm Holdings Corporation GE Healthcare, Hitachi Medical Corporation, Mindray Medical International Ltd, Koninklijke Philips NV, Hologic Inc., Siemens Healthineers, and Canon Medical Systems Corporation (Toshiba).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Esaote SpA
Fujifilm Holdings Corporation
GE Healthcare
Hitachi Medical Corporation
Philips Healthcare
Samsung
Siemens Healthcare
Canon Medical Systems Corporation
Mindray Medical International Limited

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