The latest market report published by Credence Research, Inc. “Wireless Ultrasound Scanner Market: Growth, Future Prospects, and Competitive Analysis, 2017 -2025” the wireless ultrasound scanner market was valued at USD 556.1 Mn in 2016, and is expected to reach USD 2,533.2 Mn by 2025, expanding at a CAGR of 16.8 % from 2017 to 2025.
The wireless ultrasound scanner devices is expected to encapsulate a considerably larger market share in the forecasted period 2017-2025. The wireless ultrasound scanner is the novel technological development to the existing traditional scanners. The traditional ultrasound scanners are not very easily portable and consumes time for transporting and setting up. The traditional ultrasound scanners are bulky and consumes enough space, and are not readily available at the time of emergency for faster diagnosis.
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The newer ultrasound scanners have been miniaturized and are accompanied with wireless capabilities. The wireless ultrasound scanner are categorized as Class III medical devices and required 510(k) clearance for its approval. These devices would always be available at the point of care thus fastening the diagnosis and providing early and required healthcare delivery. The wireless ultrasound scanners are made compatible with iOS and Android which can be integrated with smartphones and tablets thus allowing easy access of scanned images as and when required. As observed these technology are the newest development in the ultrasound scanner market there arises a greater opportunity for key players to expand the market and grab a larger market share. There also arises huge opportunity for the emerging key players owing to lesser competitive pool.
North America holds major share in the wireless ultrasound scanner market owing to high prevalence of favorable healthcare policies and infrastructure, constant R&D development and higher economic status of the patients. The European nation’s line second in this market with growing R&D, developed healthcare infrastructure and better economic status of patients. High disposable income of patients, High accessibility to newer technologies, increasing overall patient population and increased demand for better and advanced therapeutic options are the major driving factors for Asia-Pacific region in the wireless ultrasound scanner market. Nations such as China and Japan have better healthcare policies as of now and is expected to get better in the forecast period along with continuous R&D would drive this market. In case of developing regions such as Latin America, Middle East and Africa there is a gradual rise in this market as advanced technologies such as the wireless ultrasound scanners are just emerging and rising awareness and market penetration would assist its demand.
These technologies require skilled expertise to handle such technologically advanced devices for accurate results
Market Competition Assessment:
The wireless ultrasound scanner market is observed as the most diversified and competitive market comprising large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are Siemens Healthcare GmbH, Clarius Mobile Health, SonopTek Co.,Ltd., Meditech Equipment Co.,Ltd, Sonostar Technologies Co. Ltd. & Shantou Easywell Technologies Co.,Ltd.
Key Market Movements:
- An increasing demand for portable ultrasound scanners owing to readily available point of care diagnosis would propel the wireless ultrasound scanner market.
- Easy access of scanned images as when required increases the demand for these devices.
- There is a rise of demand for such devices in developing nations owing to increased awareness of such technologies and availability.