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

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

India's ultrasound devices market was valued at USD 205.59 million in 2021 and is projected to register a CAGR of 6.40% during the forecast period (2022-2027).

COVID-19 had an adverse impact on the ultrasound devices market in India. Patients at private hospitals across India were surveyed in May 2021 by the leading healthcare trade organization NATHEALTH, and the results showed that 57% of respondents had changed their treatment plans during the first Covid-19 wave, which ran from March to December 2020. 34% of Outpatient Department (OPD) patients postponed or canceled their hospital appointments during that time, compared to 100% of individuals undergoing elective surgery. Between January and February 2021, a survey was conducted in India with a sample size of 2,134 patients from metropolises, tier 1 and tier 2 regions, all of whom had different treatment needs. In NATHEALTH's report on the "Impact of COVID-19 on patient behavior toward visiting healthcare facilities," the survey's findings were presented. Such cancellations and postponements led to fewer diagnostic imaging procedures, which hindered the patient population's uptake of ultrasound services. However, the Indian economy is expected to pick up steam in 2021, allowing all elective treatments that had been postponed due to the crisis to resume. Even if connectivity issues persisted in August 2021, remote monitoring options helped India's ICU capacity to grow in both urban and rural areas. The faster diagnosis was made possible by portable ultrasound technology and AI apps, which were also shown to be safer for both patients and technicians. A telerobotic ultrasonography system was created in August 2021 by the Indian Institute of Technology (IIT) Delhi and the All India Institute of Medical Sciences (AIIMS) New Delhi. Through the use of a robotic arm, this technology enables remote ultrasound access. The market will grow during the forecast period as a result of this development in ultrasound for COVID-19 diagnosis.

With the rising burden of chronic diseases in the country along with the growing initiatives of ultrasound in different areas of application, the ultrasound devices market is expected to show a significant rise in India. Almost 20% of all liver disease patients (regardless of etiology) in India currently consume alcohol, according to statistics from a research paper titled "Epidemiology of non-alcoholic and alcoholic fatty liver disorders" published in April 2020. Alcohol is the most common cause of cirrhosis (34.3%) in India. Additionally, according to the Government of India 2021, 9% to 32% of Indians have nonalcoholic fatty liver disease (NAFLD). Due to the rise in liver disease instances, there will be greater demand for ultrasound scans for disease diagnosis, which is anticipated to propel market expansion in the nation. According to data from the Longitudinal Ageing Study in India (LASI), which was published on January 6, 2020 by the Union Ministry of Family and Health Welfare, there is an increase in the incidence of cardiovascular diseases (CVDs) in the elderly population of the nation, with incidences of 60% in Goa, 57% in Kerala, 55% in Chandigarh, and 51% in Jammu and Kashmir. As a result, the ageing population is further expected to boost the growth of the studied market as the burden of CVDs. Furthermore, due to the large population, there will be more opportunities for players to sell their products, which will also be a significant component in the growth of the studied market as firms produce the most recent advances in ultrasound devices and release them into the market. For instance, in October 2020, it introduced the Ultrasound 3300, a brand-new, ground-breaking ultrasound series designed for cardiovascular imaging, general imaging, and obstetrics and gynecology (OBGYN) operations. Thus, the abovementioned factors are expected to increase market growth.

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

Advanced technology, an increase in cancer cases, and the number of elderly people who need point-of-care diagnostics, as well as growing public knowledge of Portable Ultrasounds' availability, are the main drivers propelling the rise of portable ultrasounds. The ability to treat patients who are in life-threatening situations and need emergency care wherever they are, maybe with the requirement for an on-the-spot diagnosis, may be made possible by the portable ultrasound equipment. In 2021, there will be 67 million males and 71 million women over the age of 65 in India, according to the Ministry of Statistics and Programme Implementation. The GLOBOCAN 2020 report states that India reported 1,324,413 new cases of cancer in 2020, and the total number of five-year prevalent cases of cancer was 2,720,251. Additionally, the same report predicted that the cases of cancer will reach 1,692,968 by 2030 and 2,086,094 by 2040, which shows a high increase in the cases of cancer in the country. As a result, the demand for ultrasound devices in the country will rise for detection and diagnostics, which will drive the market.

Moreover, In September 2021, SonoRad K40 portable ultrasound machine was unveiled by Trivitron Healthcare, an Indian company. The advanced and cutting-edge portable Color Doppler ultrasound system is powered by an RF ultrasonic metadata platform and equipped with cutting-edge technology, making it a portable, intelligent, and potent diagnostic instrument. The gadget is small and stylish and ideally suited for routine scanning. It also satisfies medical practice in the fields of gastroenterology, obstetrics and gynecology, cardiology, and point-of-care. Siemens Healthineers India unveiled the ACUSON Redwood Ultrasound System in January 2020 at 73 annual conference of Indian Radiology and Imaging Association (IRIA). The system, which is based on the business's new platform architecture, offers shared services cardiology features that are utilized by several hospital departments, sophisticated apps for increased clinical confidence, and AI-powered tools for smart workflows. These attributes, combined with a portable and lightweight design, give clinicians access to a high-performance imaging solution that is effective and economical.

Thus, owing to the aforementioned factors, the segment is expected to show significant growth during the forecast period.

Competitive Landscape

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

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