Philips Medical Systems has overtaken the market in diagnostic ultrasound, according to market analysts Klein Biomedical Consultants (KBC). The groups said that in 2005 Philips had a 26 percent share of the overall market in the U.S. and out-paced market revenue gains with an annual growth rate of 12 percent, according to a release.
Philips managed to grow market share in this area by two points regardless of the market being flat. In cardiology, according to KBC, market revenues grew 10 percent last year primarily driven by sales of the Philips iE33. As a result, Philips regaining its top market position for cardiology in the U.S. with a 35 percent share of total sales, KBC said.
Philips credits much of its growth in 2005 to the introduction of four new systems in less than two years: the iE33, iU22, HD11 and HD3.
The Klein Report tracks revenues and units by market segment for all manufacturers in the U.S. ultrasound market. KBC uses public information, primary research, and interviews with manufacturers to triangulate the data.