Market Analysis

Ultrasound Probe and Transducer Market’s Growth Continues

Medical Dealer | Market Analysis | Ultrasound Probe and Transducer Market’s Growth ContinuesUltrasound systems are a valuable tool at health care facilities around the world, but they need probes and transducers to be able to capture the images medical professionals need to provide excellent patient care.

The ultrasound market continues to grow around the world and in the United States as new technology and more advanced transducers come to market. These new tools complement the fundamental devices that remain an important part of health care delivery.

Matt Tomory, Vice President of Sales and Marketing at Conquest Imaging, said the market is experiencing consistent growth in the United States.

“The current U.S. market is approximately $1.5 billion and has experienced stable growth over the past few years,” Tomory said. “The diagnostic ultrasound market in the U.S. continues to experience consistent growth and is projected to surpass $2 billion dollars by 2020. This growth is fueled by new capabilities and technology. Advances in transducer technology will greatly contribute to the health of the transducer market as well as new applications of ultrasound which will grow the overall market. Ultrasound is, and will remain, the modality of choice when indicated due to cost, availability, patient comfort and the fact it emits non-ionizing radiation.”

Doug Adams, Marketing Specialist at Global Medical Imaging (GMI), says the market is doing well.

“The ultrasound probe market is very healthy right now. Availability on new and used probes seems to be at an all-time high. However, quality of the probes/transducers seems to have dipped in recent years,” Adams said. “There are a couple of factors in the growth of the market. Probe repair and companies venturing into the ultrasound market in general. The probe repair business has a trickle down effect, by repairing current assets, the need for brand new probes has decreased, therefore increasing new probe availability. Probe repair has also bolstered the used probe market by sustaining the lifespan of older probes. Ultrasound, in comparison, is a less expensive modality, therefore it’s a little easier to break through in the market. New companies in the market increase the availability and open sourcing channels for both wholesale and end user probe purchasing.”

Tomory and Adams both predict additional market growth over the next five years.

“The probe market will continue to grow along with the modality,” Tomory said. “Transducer technology evolution will continue to challenge many probe repair organizations which will need more sophisticated technology and larger research and development budgets to maintain capabilities.”

Adams predicts an increase in the number of probe repair providers.

“Over the next five years we will probably see an increase in companies offering probe repair services as it’s a great alternative to purchasing brand new probes, while maintaining current assets at a cost savings to a market that is trying to find ways to decrease budgets,” Adams explained. “We will also see the typical ebbs and flows of our industry with companies entering and leaving the market. This may also have an adverse effect that could cause the OEMs to decrease production of new transducers due to the fact that availability is so high. They may cut production in order to control costs and inventory surplus.”

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