Ultrasound Devices Market For Pediatric Radiology: Major Players - GE Healthcare, Philips Healthcare, Siemens Healthcare

 Global Ultrasound Devices Market for pediatric radiology was valued at $661 million in 2015, and is poised to reach $1,112 million by 2022, registering an estimated of CAGR 7.6% during the forecast period. Ultrasound is a non-invasive diagnostic imaging method that uses high frequency sound waves to visualize images of the internal structures of the human body. Pediatric radiology is a subspecialty that involves radiologic manifestations of diseases that are prevalent among the pediatric population. The report analyzes the ultrasound devices market for pediatric radiology based on age group, portability, price, and geography.

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Pediatric radiology is a subspecialty of radiology that deals with the imaging of fetuses, infants, children and adolescents. Special attention is paid to the training and development of pediatric radiologists in government and private organizations to meet the specific needs of children. Ultrasound is used for non-invasive examination of organs in children who are not exposed to ionizing radiation.

The global pediatric radiology ultrasound market is driven by the increasing incidence of various diseases in the pediatric population worldwide, which necessitates the use of ultrasound devices for diagnostic and therapeutic purposes. In addition, factors such as increasing demand for pediatric radiology procedures in emerging markets and rapid integration of radiology IT for accurate diagnosis are expected to boost the pediatric radiology ultrasound equipment market. However, declining reimbursement rates for ultrasound procedures and shortage of qualified and experienced radiologists are expected to hinder market growth.

The adoption of ultrasound devices for pediatric radiology investigations is expected to increase in the near future, owing to the high prevalence of congenital diseases among the pediatric population. Ultrasound devices have piqued the interest of healthcare providers for carrying out radiology investigations in children due to the associated benefits such as non-invasive nature, non-emission of radiation, and accurate diagnosis in short turnaround time. The market for ultrasound devices for pediatric radiology is flanked with remarkable technological advancements to cater to the requirements of pediatric radiologists. The rest of the world segment (particularly Asia-Pacific and LAMEA) is expected to offer lucrative opportunities to market players, as the markets in the developed nations are saturated with large number of ultrasound device providers. In addition, the market has experienced a paradigm shift in the recent years, because the major players have focused on distributing their new products in the emerging markets including Asia-Pacific.

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Key Findings of the Ultrasound Devices Market:

In terms of both value and volume, the newborn is projected to be the fastest growing segment during the forecast period.

The midrange ultrasound devices segment accounted for nearly half of the total ultrasound devices market for pediatric radiology, in terms of both value and volume.

The major companies profiled in the report include Analogic Corporation, Esaote SpA, Fujifilm Corporation, General Electric Company, Hitachi, Ltd., Koninklijke Philips N.V., Mindray Medical International Limited, Samsung Medison Co. Ltd, Siemens AG, and Toshiba Corporation.

North America occupied more than one-fourth of the total market (in terms of value and volume), owing to the high prevalence of various pediatric diseases. Europe exhibits significant adoption of technologically advanced ultrasound devices for pediatric application.

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David Correa
Allied Analytics LLP
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