The size of the Ultrasound Devices Market in Europe was estimated at USD 2.12 Billion in 2020. It is projected to reach USD 2.63 Billion by 2025, at a CAGR of 4.4% during the forecast period.
Europe Ultrasound Devices Market is focused on promoting and supporting industrial research. Several tax incentives have been provided for the establishment of the industry's research and development department, and imaging equipment such as ultrasound has been significantly improved is driving the growth of the market. The long-term goal of these programs is to develop innovative, disruptive, safe, non-invasive ultrasound technology to enhance interventional therapies for treating disorders, injuries, abnormalities, and other conditions. Also, the increasing demand for minimally invasive equipment, the rising number of older adults, the shrinking size of ultrasound equipment, and the growing incidence of chronic diseases (such as cancer) are other factors acting as the growth drivers of the Europe Ultrasound Devices Market Factor.
Ultrasound Devices are an essential method for diagnosing ailments like CVD and cancer, and the increasing prevalence of chronic diseases in the European Union is expected to continue to drive demand and create an opportunity for these devices in the market. In recent years, technological advances in computing applications, electronic devices, and transducers have revolutionized ultrasound equipment and its popularity. These advances have led to the miniaturization of ultrasound equipment. Manufacturers of the EU medical ultrasound device market adopt wireless technologies such as near field communication and Bluetooth to improve device performance in critical and emergency medical applications.
Also, healthcare providers and patients are increasingly recognizing the benefits of portable ultrasound devices in a live care environment. Handheld instant care devices are smaller and more accessible to charge than traditional cart devices. As a result, the benefits of these devices have increased, their adoption in the European Union has increased, and the region's medical ultrasound equipment market has grown even faster.
The lack of skilled workers to handle the equipment is limiting the market growth in this area.
The main challenges in the Europe Ultrasound Devices Market are the growing demand for refurbished medical imaging equipment and the high cost of installation.
This research report segmented and sub-segmented into the following categories:
The European ultrasound devices market was the second leading region in the global market in 2019. Increasing market penetration of therapeutic ultrasound and the growing emphasis on minimally invasive procedures (including diagnostic and therapeutic ultrasound) is attracting the companies in this region, due to which they can contribute a maximum share to the market.
In Europe, the Germany ultrasound devices market dominated the region due to the increase in the number of ultrasound diagnostic imaging procedures. Ultrasound increased 5 percent annually. Moreover, technological advancement key players are not only making the devices more compact and portable but are also incorporating innovative technologies, like as 3D and 4D imaging. In 2018, the Samsung RS85 ultrasound system got FDA clearance. It was designed various multi-step actions that are now coupled into a single step to minimize keystrokes and repetitive user communication. Adding to increasing incidences of chronic diseases (like cancer, cardiovascular) are other factors contributing to the Germany ultrasound devices market's growth.
The U.K. ultrasound device market is estimated to display a significant growth rate during the forecast period. Rising demand for the minimally invasive device, an increase in the number of the geriatric population, reduction in the size of ultrasound devices are majorly pushing the market growth in the United Kingdom.
Key market participants in the European Ultrasound Devices market profiled in this report are General Electric Company (U.S.), Koninklijke Philips N.V., Toshiba Corporation, Siemens AG, Hitachi Ltd., Samsung Electronics Co., Ltd., FUJIFILM Holdings Corporation, Esaote S.p.A., Mindray Medical International Ltd and Analogic Corporation (U.S.).
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Technology
5.1.1 Diagnostic ultrasound
220.127.116.11 2D ultrasound
18.104.22.168 3D & 4D ultrasound
22.214.171.124 Doppler ultrasound
5.1.2 Therapeutic ultrasound
126.96.36.199 High-intensity focused ultrasound
188.8.131.52 Extracorporeal Shockwave Lithotripsy
5.2 By Device display
5.2.1 Color Ultrasound Devices
5.2.2 Black and White Ultrasound Devices
5.3 By Portability
5.3.1 Trolley/Cart-based Ultrasound Devices
5.3.2 Compact/Handheld Ultrasound Devices
5.4 By Application
5.4.1 Radiology/General Imaging
5.4.6 Other Applications
6. Geographical Analysis
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 General Electric Company
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Koninklijke Philips N.V.
8.3 Toshiba Corporation
8.4 Siemens AG
8.5 Hitachi Ltd.
8.6 Samsung Electronics Co., Ltd.
8.7 FUJIFILM Holdings Corporation
8.8 Esaote S.p.A.
8.9 Mindray Medical International Ltd.
8.10 Analogic Corporation
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
a) List of Tables
b) List of Figures