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

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

The Germany ultrasound devices market was valued at USD 541.80 million in 2021 and is projected to register a CAGR of 5.70% during the forecast period (2022-2027).

COVID-19 had an adverse impact on the ultrasound devices market in Germany. The study, "Collateral Effect of COVID-19 on Orthopaedic and Trauma Surgery," set out to evaluate and investigate how the COVID-19 pandemic affected orthopedic and trauma surgery in Germany's private practices and hospitals. In this cross-sectional study, an anonymous online poll was conducted from April 2 to April 16, 2020. 150,000 orthopedic and trauma doctors from hospitals and private practices across Germany's 18,000 facilities were included in the study. All members of the Professional Association for Orthopedic and Trauma Surgery (PAOTS) and the German Society of Orthopedic and Trauma Surgery (DGOU) received the survey (BVOU). The study included 858 orthopedic and trauma specialists from throughout Germany. According to the study, orthopedic and trauma surgery have been most impacted by the COVID-19 epidemic in Germany. The containment efforts are generally considered to be prudent despite severe financial constraints. The results of multiple regression analysis show that surgeons who work for themselves are more impacted by scarcity and its financial ramifications than surgeons who work in hospitals. As a result, there was a negative influence on the demand for ultrasound scans needed for orthopedic and trauma cases in need of diagnosis, which restrained the market's expansion. Due to the aforementioned circumstances, the nation has seen several difficulties with diagnostic screenings; however, it is anticipated that the business will recover in the coming years.

Over the course of the study's projection period, the increased prevalence of chronic conditions such as cardiovascular disorders, technical developments, and the launch of new products are expected to have the most impact on the growth of the ultrasound devices market in Germany. According to a report titled "German Heart Surgery Report 2020: The Annual Updated Registry of the German Society for Thoracic and Cardiovascular Surgery" that was published by the National Library of Medicine in June 2021, there were 843 assist device implantations (including left/right/biventricular assist device, total artificial device) in Germany in 2020. There were also approximately 29,444 isolated coronary artery bypass grafting procedures, 35,469 isolated heart valve procedures, and approximately 29,444 total artificial device procedures. This demonstrates a high prevalence of cardiovascular disorders in the nation, which is anticipated to fuel the expansion of the market under study in the nation. Similarly, initiatives by market players are another factor in market growth. In November 20201, Siemens Healthineers, based in Germany, introduced a new advanced liver analysis feature with ACUSON Sequoia ultrasound system. It provides clinicians with a new measurement tool called ultrasound derived fat fraction (UDFF), which helps them evaluate the severity of hepatic steatosis overall. The system also includes Auto Point Shear Wave Elastography (Auto pSWE), a brand-new method for quantifying liver stiffness that aims to shorten the duration of the liver elastography exam. Additionally, the development of 3D ultrasound technology by the German company TOMTEC led to a revolution in diagnostic ultrasound. Through clever automation and web-based diagnostic workflows, TOMTEC is now poised to completely transform echocardiography once more. Thus, the abovementioned factors are expected to increase market growth.

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

Ultrasound is one of a number of techniques referred to as "interventional radiology" (IR) that rely on the use of radiological image guidance. Using targeted minimally invasive treatments carried out with image guidance, interventional oncology is a specialization of interventional radiology that deals with the detection and treatment of cancer and cancer-related disorders. Factors such as the increasing prevalence of cancer and initiatives by key market players are expected to increase the market growth. For instance, according to the GlOBOCAN 2020 data, Germany saw 628,519 new cases of cancer in 2020, and by 2040, this number is predicted to rise to 749,559 instances. As ultrasound instruments are widely employed in the diagnosis of many types of cancer, the anticipated increase in cancer cases will propel the use of ultrasound imaging in the nation. Initiatives by key market players are expected to increase market growth. With Paracelsus Clinics in Germany, Philips entered into an eight-year strategic partnership in March 2020. Through this partnership, Philips will offer solutions that make imaging systems more accessible and use digitization and process optimization to boost quality and efficiency. A similar range of diagnostic goods and services, including computed tomography, magnetic resonsce interface, X-ray, artificial intelligence, endoscopy, and ultrasound systems, was introduced in July 2021 by FUJIFILM Healthcare Europe and FUJIFILM Europe's existing European medical company. Therefore, the ultrasound devices market is expected to grow in Germany during the forecast period of the study.

Competitive Landscape

Germany 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, GE Healthcare, Fujifilm Holdings Corporation, Siemens Healthineers AG, and Koninklijke Philips NV among others.

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