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Doppler Ultrasound Systems Market - Growth, Trends, and Forecasts (2023 - 2028)

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  • 118 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 4987029

Quick Summary:

Stay ahead in a rapidly changing world with an insightful understanding of the Doppler Ultrasound Systems Market. This focused market report provides an in-depth analysis of the rising prevalence of chronic diseases such as cancer, cardiovascular, gastrointestinal, and kidney ailments, and the significant role that Doppler Ultrasound plays in their diagnosis.

Advanced diagnostic technologies, an aging population, and increased healthcare spending are boosting the market. Studies investigating the diverse applications of Doppler Ultrasound in diagnosing various disorders furnish this report, offering an enriched understanding of its increased demand. The market also benefits from active initiatives by participants to expand Doppler Ultrasound systems and technologies. However, market growth faces challenges from stringent regulatory policies and the high cost of Doppler Ultrasound systems. Be prepared to navigate these challenges and capitalize on opportunities for growth with this comprehensive market research study.

The doppler ultrasound systems market is expected to register a CAGR of 7.5% over the forecast period.

The outbreak of the pandemic impacted the doppler ultrasound market. A high rate of thrombotic events was associated with the COVID-19 infection, such as deep vein thrombosis (DVT) and acute pulmonary embolism, which propelled the use of doppler ultrasound during the pandemic. For instance, as per a July 2021 NCBI article, during the pandemic, an increased incidence of asymptomatic DVT (60.87%) was noted. It also mentioned that color doppler ultrasound allowed detection of DVT in asymptomatic patients, but venous doppler ultrasound was accepted as a critical intervention for COVID-19 patients at risk of thrombotic complications, which helped physicians to make decisions. Thus, the market witnessed positive growth during the pandemic and is expected to continue the upward trend over the forecast period.

The rising prevalence of chronic diseases coupled with the aging population, growing healthcare spending in developed nations, an increase in healthcare providers, and healthcare spending on diagnosis are the major drivers for the market. The development of advanced doppler ultrasound diagnostic technologies is another important element fueling market growth. Chronic diseases like cancer, and cardiovascular, gastrointestinal, and kidney ailments are becoming more prevalent throughout the world. For instance, in 2022, the American Cancer Society (ACS) that there would be an estimated 106,180 new cases of colon cancer and 44,850 new cases of rectal cancer in the United States in 2023. Furthermore, according to a 2021 report by the American Cancer Society, the lifetime risk of developing colorectal cancer was about 1 in 23 (4.3%) for men and 1 in 25 (4.0%) for women. Doppler ultrasound is one of the essential requirements for the diagnosis of cancer and this steady increase in the number of cases will propel the demand for doppler ultrasound systems.

In addition, numerous studies are being conducted to determine the diagnostic use of the doppler ultrasound in various disorders. For instance, a team of researchers from Dalian Medical University in China began a study in July 2021 to investigate the diagnostic use of doppler ultrasound in patients with early chronic renal disease. Furthermore, in April 2022, a different team of researchers from the University of British Columbia in Vancouver, Canada, published a research study that states that doppler imaging is frequently used to evaluate transplanted kidneys and is utilized to evaluate renal vascular flow and patency.

The market participants are also concentrating on doppler ultrasound systems and driving market expansion. For instance, in January 2021, EagleView ultrasound launched its wireless portable ultrasound device, which provides accurate ultrasound imaging and is affordable as well. Similarly, Us2.ai, a Singapore-based medtech company supported by Sequoia India and EDBI, gained FDA approval for Us2.v1, a fully automated cardiac ultrasound tool to measure 2D and doppler, in September 2021. It is projected that during the course of the projection period, advances in the doppler ultrasound system will spur market expansion.

However, stringent regulatory policies and the excessive cost of doppler ultrasound systems are expected to hamper the market growth over the forecast period.

Doppler Ultrasound Systems Market Trends

The Handheld Devices Segment is Expected to Witness Considerable Growth Over the Forecast Period

Handheld devices are devices used to monitor blood flow in pregnant women and also have numerous other applications. Handheld gadgets are easy to use and can keep up with the demanding and fast-paced healthcare setting. The majority of commercially available handheld devices offer simple scanning, smooth departmental changes, and seamless use for a variety of tests. Podiatrists routinely use handheld doppler examinations as a non-invasive vascular assessment method. Owing to the high demand for these devices, the key players are launching new product lines, which may positively impact segment growth. For instance, In March 2021, GE Healthcare, a part of General Electric, introduced the Vscan Air, a new wireless handheld ultrasound instrument. A pocket-sized ultrasound with a color doppler called the Vscan Air uses customer-driven innovation to offer more individualized care for patients all around the world.

Furthermore, in February 2022, Royal Philips added improved hemodynamic assessment and measuring capabilities to its portable Lumify Pulse Wave Doppler ultrasound, expanding its ultrasound line. Improvements like these will fuel market expansion in the sector. Additionally, it is anticipated that the segment expansion will soon be supported by the rising incidence of peripheral artery disease and venous thromboembolism. Although the exact number of people affected by deep vein thrombosis (DVT) or pulmonary embolism (PE) is unknown, DVT and PE impact 900,000 people annually in the United States, according to data from the CDC updated in April 2022.

Moreover, according to March 2021 WHO data, there were 7.8 million women alive at the end of 2021 who had received a diagnosis of breast cancer in the previous five years, making it the most common cancer in the world. The same source also stated that there were approximately 2.3 million women worldwide who were diagnosed with breast cancer in 2021. The demand for portable and handheld doppler ultrasonography equipment for practical diagnosis purposes is rising as the prevalence of chronic diseases rises.

North America is Expected to Witness Considerable Growth Over the Forecast Period

North America holds a major share of the doppler ultrasound systems market. The market for doppler ultrasound systems in North America is expanding overall due to the rise in the application of imaging technologies for illness diagnosis and treatment. For instance, in March 2022, the wearable, wireless doppler ultrasound system was introduced by Canadian startup Flosonics Medical. Therefore, market expansion in the area is anticipated to be fueled by innovations. Additionally, a rise in the number of hospitals, clinics, and ambulatory surgery centers (ACSs) and investments in healthcare projects across the region is contributing to the market growth. For instance, the governments of Canada and Quebec worked together to invest in 209 infrastructure projects to modernize, redevelop, and upgrade health and social services institutions in Quebec, including hospitals and other care centers. This information was provided in a press release issued by the Canadian government in July 2021. The investment for these 209 infrastructure projects would total USD 188.3 million, according to announcements from the federal ministers of infrastructure, communities, and health and social services. Due to these investments, hospitals must have access to cutting-edge medical equipment like doppler ultrasound systems. Additionally, as part of its strategy to eliminate hallway health care, the Canadian province of Ontario announced in March 2021 that it would pay up to USD 53.0 million to finance the design and construction of the new Grey Bruce Health Services Markdale Hospital.

Key product launches, high concentration of market players or manufacturers' presence, acquisition and partnerships among major players, and an increasing number of hospitals in the United States are some of the factors driving the growth of the doppler ultrasound systems market in the country. For instance, according to American Hospital Association (AHA) data published in 2022, there were more than 6,093 operating hospitals in the country in 2021. Similarly, in September 2022, Philips received FDA 510(k) clearance for an ultrasound compact system to optimize portability and performance.

Doppler Ultrasound Systems Industry Overview

The doppler ultrasound systems market is moderately consolidated due to the presence of a few key players in the market. The companies are focused on the technological advancement of the devices to gain significant market shares. Some of the market players are Koninklijke Philips N.V., General Electric Company (GE Healthcare), Siemens Healthcare GmbH, Fujifilm Corporation, Samsung, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Canon Inc., Trivitron Healthcare Private Limited, BK Medical Holding Company, Inc., CIMON Medical AS, NOVASIGNAL CORPORATION, ESAOTE SPA, and Clarius, among others.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Chronic Diseases Coupled with Increasing Aging Population
4.2.2 Advances in Ultrasound Diagnostic Technologies
4.2.3 Increasing Healthcare Expenditure in Developed Countries
4.3 Market Restraints
4.3.1 High Cost of Doppler Ultrasound Systems
4.3.2 Stringent Regulatory Procedures
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD Million)
5.1 By Device Type
5.1.1 Trolly-Based
5.1.2 Handheld
5.2 By Application
5.2.1 Radiology
5.2.2 Obstetrics and Gynecology
5.2.3 Cardiology
5.2.4 Other Applications
5.3 By End-User
5.3.1 Hospitals
5.3.2 Diagnostic Centers
5.3.3 Other End-Users
5.4 Geography
5.4.1 North America United States Canada Mexico
5.4.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.4.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.4.4 Middle-East and Africa GCC South Africa Rest of Middle-East and Africa
5.4.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Koninklijke Philips N.V.
6.1.2 General Electric Company (GE Healthcare)
6.1.3 Siemens Healthcare GmbH
6.1.4 FUJIFILM Corporation (FUJIFILM VisualSonics, Inc.)
6.1.5 Samsung
6.1.6 Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
6.1.7 Canon Inc.
6.1.8 Trivitron Healthcare Private Limited
6.1.9 BK Medical Holding Company, Inc.
6.1.10 CIMON Medical AS
6.1.13 Clarius

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Koninklijke Philips N.V.
  • General Electric Company (GE Healthcare)
  • Siemens Healthcare GmbH
  • FUJIFILM Corporation (FUJIFILM VisualSonics, Inc.)
  • Samsung
  • Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
  • Canon Inc.
  • Trivitron Healthcare Private Limited
  • BK Medical Holding Company, Inc.
  • CIMON Medical AS
  • Clarius