Report: Hand-carried ultrasound market to exceed $1 billion by 2011
The hand-carried ultrasound (HCU) market is forecasted worldwide to see revenues in excess of $1 billion (USD) by 2011, according to a report from Harvey Klein, PhD, president of Klein Biomedical Consultants. The report also projects that the leaders in the HCU market will be GE Medical Systems, SonoSite and ZONARE Medical Systems by 2009. The HCU market is considered the fastest growing segment in the multi-billion dollar ultrasound market which now sits at over $4 billion worldwide, according to Klein.
For purposes of the report, hand-carried ultrasound systems are considered to weigh less than 11 pounds.
“The HCU market is outpacing all other ultrasound segments growing 41 percent last year in the U.S. alone,” said Klein. “We are predicting robust growth of HCU sales over the next five years, averaging 22 percent worldwide, as significant advances in technology address a growing array of clinical imaging needs.“
The report, The Hand-Carried Ultrasound (“HCU”) Market: A Disruptive Technology?, evaluates the analyzes growth in the U.S. and international markets with the U.S. accounting for about half of sales revenues. The U.S. HCU market size in 2006 was $198 million, 41 percent growth over 2005. International markets accounted for $199 million, also 41 percent growth, during the same time period. Overall, worldwide revenues for all ultrasound segments grew six percent in 2006, according to the report.
“In 2006, the industry witnessed the largest number of HCU products introduced in a single year,” said Klein. “Coupled with the revenue growth from previous products on the market, worldwide HCU revenues reached almost $400 million for the year.”
“The largest markets for HCU systems are some of the traditional ultrasound markets such as radiology, cardiology, OB/GYN and surgery,” adds Klein. “Now we are seeing other emerging markets, like emergency medicine and anesthesiology, expanding their use of this imaging modality. This is why we believe the HCU market will continue to grow in double digits and reach over one billion dollars in five years.”