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Ultrasound Devices Market for Diagnostic and Therapeutic Applications is Expected to Reach $8.63 BN in 2017
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Ultrasound Devices Market for Diagnostic and Therapeutic Applications is Expected to Reach $8.63 BN in 2017

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Persistence Market Research is pleased to announce the launch of its “Ultrasound Devices Market Assessment Report (Diagnostic & Therapeutic) - Global Size, Share, Competitive Landscape, Future ...

Persistence Market Research is pleased to announce the launch of its “Ultrasound Devices Market Assessment Report (Diagnostic & Therapeutic) - Global Size, Share, Competitive Landscape, Future Prospects and Forecast from 2013-2017”, according to which the ultrasound devices market for diagnostic and therapeutic applications was estimated to be worth $6,515 million in 2012 and is expected to reach $8,637 million in 2017, growing at a CAGR of 5.8% from 2013 to 2017.

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Ultrasound Devices Market for Diagnostic and Therapeutic Applications is Expected to Reach $8.63 BN in 2017 Ultrasound Devices Market for Diagnostic and Therapeutic Applications is Expected to Reach $8.63 BN in 2017 Presentation Transcript

  • Sample Ultrasound Devices Market Assessment Report (Diagnostic & Therapeutic ) Global Size, Share, Competitive Landscape, Future Prospects and Forecast from 2013-2017 ersistence Right on the money, rendered! HEALTHCARE MARKET RESEARCH & CONSULTING www.persistencemarketresearch.com ToC
  • Table of Content – (1/6) 1. Introduction 1.1. Report Scope 1.2. Research Methodology 1.3. Data Triangulation 1.4. Market Segmentation 2. Executive Summary 2.1. Key Takeaways 2.2. Key Data Points 2.3. Market Dynamics 2.4. Porter’s Five Forces Analysis 3. Global Diagnostic Ultrasound Devices Market, By Application (2012-2017) 3.1. Radiology/Oncology 3.2. Cardiology 3.3. Obstetrics & Gynecology 3.4. Mammography/Breast Ultrasound 3.5. Emergency Medicine 3.6. Vascular Ultrasound 3.7. Others (Point of Care, Musculoskeletal, Anesthesiology) www.persistencemarketresearch.com 1
  • Table of Content – (2/6) 4. Global Diagnostic Ultrasound Devices Market, by Technology (2012-2017) 4.1. Global 2D Ultrasound Technology Devices Market, 2010 – 2017 (USD Million) 4.2. Global 3D & 4D Ultrasound Technology Devices Market, 2010 – 2017 (USD Million) 4.3. Global Doppler Ultrasound Technology Devices Market, 2010 – 2017 (USD Million) 5. Global Diagnostic Ultrasound Devices Market, by Products (2012-2017) 5.1. Global Cart-Based Ultrasound Devices Market, 2010 – 2017 (USD Million) 5.2. Global Portable Ultrasound Devices Market, 2010 – 2017 (USD Million) 5.3. Global hand-held Ultrasound Devices Market, 2010 – 2017 (USD Million) 6. Global Therapeutic Ultrasound Devices Market, by Products (2012-2017) 6.1. Global HIFU Therapeutic Ultrasound Devices Market, 2010 – 2017 (USD Million) 6.2. Global ESWL Therapeutic Ultrasound Devices Market, 2010 – 2017 (USD Million) 7. Diagnostic & Therapeutic Ultrasound Devices Market, by Geography(2012-2017) 7.1. Diagnostic Ultrasound Devices Market, by Geography, 2010 – 2017 (USD Million) 7.2. Therapeutic Ultrasound Devices Market, by Geography, 2010 – 2017 (USD Million) 7.3. Therapeutic (HIFU & ESWL) Ultrasound Devices Market, by Geography, 2010 – 2017 (USD Million) 7.4. North America Diagnostic & Therapeutic Ultrasound Devices Market, 2010 – 2017 (USD Million) 7.5. Europe Diagnostic & Therapeutic Ultrasound Devices Market, 2010 – 2017 (USD Million) 7.6. Asia-Pacific Diagnostic & Therapeutic Ultrasound Devices Market, 2010 – 2017 (USD Million) 7.7. Rest of the World Diagnostic & Therapeutic Ultrasound Devices Market, 2010 – 2017 (USD Million) www.persistencemarketresearch.com 2
  • Table of Content – (3/6) 8. Competitive Landscape & Company Profiles of key Players 8.1. Global Ultrasound Devices Market Share Analysis, by Key Players (2012) 8.2. Company Profiles 8.2.1. Analogic Corporation 8.2.2. GE Healthcare 8.2.3. Philips Healthcare 8.2.4. Siemens Healthcare 8.2.5. Hitachi Medical Corporation 8.2.6. Other Notable Players www.persistencemarketresearch.com 3
  • Table of Content – (4/6) LIST OF TABLES Table 1: Market Overview – Market Scenario of Global Ultrasound Devices Market (2012 & 2017) Table 2: Global Diagnostic Ultrasound Devices Market, by Application, 2010-2017 (USD Million) Table 3: Global Diagnostic Ultrasound Devices Market, by Technology, 2010-2017 (USD Million) Table 4: Global Diagnostic Ultrasound Devices Market, by Products, 2010-2017 (USD Million) Table 5: Diagnostic Ultrasound Devices Market, by Geography, 2010 – 2017 (USD Million) Table 6: Therapeutic Ultrasound Devices Market, by Geography 2010 – 2017 (USD Million) Table 7: Therapeutic HIFU Ultrasound Devices Market, by Geography 2010 – 2017 (USD Million) Table 8: Therapeutic ESWL Ultrasound Devices Market, by Geography 2010 – 2017 (USD Million) Table 9: Analogic Corporation, Total Revenues by Geography (USD Million) Table 10: GE Healthcare, Total Healthcare Revenues (USD Billion) Table 11: GE Healthcare, Total Healthcare Revenues, by Geography (USD Billion) Table 12: Philips, Total Revenues by Segment (USD Million) Table 13: Philips Healthcare, Total Revenues by Segment (USD Million) Table 14: Siemens Healthcare, Total Revenues by Segment (USD Million) Table 15: Siemens Healthcare, Total Revenues by Geography (USD Million) Table 16: Hitachi Medical Corporation, Total Revenues by Segment (USD Million) Table 17: Hitachi Medical Corporation, Total Revenues by Geography (USD Million) Table 18: Revenues of Other Notable Players in Diagnostic Ultrasound Devices Market (USD Million) Table 19: Revenues of Other Notable Players in Therapeutic Ultrasound Devices Market (USD Million) www.persistencemarketresearch.com 4
  • Table of Content – (5/6) LIST OF FIGURES Figure 1: Data Triangulation of Global Ultrasound Devices Market Figure 2: Market Segmentation of Global Ultrasound Devices Market Figure 3: Global Ultrasound Devices Market, 2010-2017 (USD Million) Figure 4: Global Diagnostic & Therapeutic Ultrasound Devices Market, 2010-2017 (USD Million) Figure 5: Diagnostic Ultrasound Market, by Technology, 2012 (USD Million) Figure 6: Global Therapeutic Ultrasound Devices Market, by Technology 2010-2017 (USD Million) Figure 7: Global Ultrasound Devices Market Share, by Key Players (2012) Figure 8: Global Diagnostic Ultrasound Devices Market Share, by Technology (2012) Figure 9: Diagnostic Ultrasound Devices Market Share, By Geography (2012) Figure 10: Therapeutic Ultrasound Devices Market Share, By Geography (2012) Figure 11: Market Attractiveness - Ultrasound Devices Market, by Geography (2012) Figure 12: Market Attractiveness of Ultrasound Devices Market, by Technology, (2012) Figure 13: Porter’s Five Forces Analysis Figure 14: Comparative Analysis of the Global Diagnostic Ultrasound Devices Market, by Applications (2012 & 2017) Figure 15: Global 2D Ultrasound Technology Devices Market, 2010-2017 (USD Million) Figure 16: Global 3D & 4D Ultrasound Technology Devices Market, 2010 -2017 (USD Million) Figure 17: Global Doppler Ultrasound Technology Devices Market, 2010-2017 (USD Million) Figure 18: Global Cart-Based Ultrasound Devices Market, 2010 – 2017 (USD Million) www.persistencemarketresearch.com 5
  • Table of Content – (6/6) LIST OF FIGURES Figure 19: Global Portable Ultrasound Devices Market, 2010 – 2017 (USD Million) Figure 20: Global Hand-held Ultrasound Devices Market, 2010 – 2017 (USD Million) Figure 21: Global HIFU Therapeutic Ultrasound Devices Market, 2010-2017 (USD Million) Figure 22: Global ESWL Therapeutic Ultrasound Devices Market, 2010-2017 (USD Million) Figure 23: Global Therapeutic Ultrasound Devices Market, By Segment (2012) Figure 24: North America Diagnostic & Therapeutic Ultrasound Devices Market, 2010 – 2017 (USD Million) Figure 25: Europe Diagnostic & Therapeutic Ultrasound Devices Market, 2010 – 2017 (USD Million) Figure 26: Asia-Pacific Diagnostic & Therapeutic Ultrasound Devices Market, 2010 – 2017 (USD Million) Figure 27: Rest of the World Diagnostic & Therapeutic Ultrasound Devices Market, 2010 – 2017 (USD Million) Figure 28: Global Ultrasound Devices Market Share Analysis, by Key Players (2012) www.persistencemarketresearch.com 6
  • Chapter 1: Introduction 1.1 Report Scope 1.2 Research Methodology 1.3 Data Triangulation 1.4 Market Segmentation www.persistencemarketresearch.com ToC 7
  • Chapter 1. Introduction 1.1 Report Scope  The aim of the study was to gather substantial information on the market for ultrasound based medical devices and present an in-depth analysis on market size, trends, drivers and restraints concerning the global demand and unmet need of medical ultrasound devices  The report presents analysis through various facets of this dynamic segment of medical devices. It gives a thoroughly scrutinized analysis on various market segments by technology, type of products, applications and geography.  The report divides the device technology into the most popular Doppler ultrasound, 2D ultrasound, 3D & 4D ultrasound. There are 3 major types of products considered in this report namely, the most popular cart or trolley based platform, portable or compact ultrasound devices and the hand-held or mobile ultrasound devices. Each of these product types have several advantages and disadvantages discussed further in the study.  The popular applications for diagnostic and therapeutic ultrasound are in gynecology, cardiology, vascular medicine, radiology among several others. Along with the above, the report finally discusses independent challenges, growth drivers, restraints and opportunities in four major geographies North America, Europe, AsiaPacific and Rest of the World.  The report presents a competitive analysis by showcasing the market shares held by key players and also gives the stakeholder a comprehensively profiled dossier of the key players along with their products and recent developments  The company profile or dossier lists the revenues, product portfolio and developments, mergers, collaborations, acquisitions and joint ventures giving a holistic view of the industry www.persistencemarketresearch.com Chapter 1 8
  • Chapter 1. Introduction 1.2 Research Methodology • A top-down and bottom-up approach was considered to estimate the market. A mixture of primary and secondary research formed the core methodology of our market research. The final market value was arrived at by estimating annual revenues of market players obtained through their annual reports. Through this value the sub-segments were estimated keeping in mind several market dynamics such as drivers, restraints, technological advancements, market penetration and technology adoption. Various complex statistical tools and forecasting models were used for data triangulation and cross validated by primary interviews to arrive at a final market value. • In-depth secondary research was consequently substantiated through interviews with global industry players, key opinion leaders, industry experts, doctors, hospital purchase departments, device engineers at senior management levels such as CEO’s, Directors, Presidents and Vice Presidents and Product Managers among others. • The annual revenues presented in the company profiles section of the report have also been derived from annual reports and validated through interviews with industry experts Primary Research – Interview Details Secondary Research – Information Sources • RadiologyInfo.org • Health.harvard.edu • Diagnosticimaging.com • Medicaldealer.com • Product Manager • • • List of Industry Participants in the Study • GE Healthcare • SonoScape Vice President – Marketing, Business Development • Siemens • MindRay Medical Healthcare • Zonare CEO • Philips • EDAP TMS Healthcare • Dornier Medtech • Hitachi-Aloka • Samsung • Toshiba • SonoSite Global Head • Medicalbuyer.com • Asia-Pacific Business Head • Usedultrasound.com • Regional & Zonal Sales Managers • Express Healthcare www.persistencemarketresearch.com Medison • BioSound Esaote Chapter 1 9
  • Chapter 1. Introduction 1.3 Data Triangulation - Global Ultrasound Devices Market Fig: 1 Primary Research Secondary Research Information was collected Information Collected: through various reliable • secondary sources such as: Persistence Research Team A detailed questionnaire was used to collect information was Government sources such as gathered by interviewing KOLs CDC, NIH, WHO & others • and industry experts specific • Annual reports and SEC Filings • Key Findings Paid databases & magazinesFactiva, OneSource, Reuters, Medical Buyer, Which Medical Device, Fierce Medical Device, Market Insight Generation Market Forecast News letters, etc • Blogs, articles and web based expert forums on ultrasound • to the Ultrasound Devices • Secondary data was validated through these interviews • Primary interviews were conducted with domain Final Report experts such as doctors, VP’s, Managers and sales executives Data triangulation was achieved through both primary and secondary research. Inferences were drawn from market dynamics data collected from secondary sources, which was validated by industry experts and KOL’s. A thorough PESTLE and Porter’s Five Forces Analysis was conducted to gather crucial trends and dynamics for current market to predict the future growth • Post data triangulation process, the summary of our study was shared with KOLs and industry experts to suggest further insights to our analysis of the ultrasound devices market and finally published for purchase by our clientele throughout the world • The Persistence research team comprises of people with domain expertise and commercial acumen of the market thereby conducting focused and to the point interviews with top brass management personals associated with key manufacturers within the ultrasound devices market. www.persistencemarketresearch.com Chapter 1 10
  • Chapter 1. Introduction 1.4 Market Segmentation- Global Ultrasound Devices Market Fig: 2 Diagnostic & Therapeutic Ultrasound Devices Market DIAGNOSTIC PRODUCTS Cart based Portable APPLICATIONS Gynecology Radiology THERAPEUTIC TECHNOLOGY 2D 3D & 4D Cardiology Hand-Held Emergency Medicine Doppler APPLICATIONS Uterine Fibroids Others (Renal Denervation, Cosmetology, Atrial Fibrillation) TECHNOLOGY GEOGRAPHY NORTH AMERICA EUROPE High Intensity Focused Ultrasound ASIA-PACIFIC Shockwave Lithotripsy ROW Mammography Vascular Others (Point of Care, Musculoskeletal, Anesthesiology) www.persistencemarketresearch.com Chapter 1 11
  • Chapter 2: Executive Summary 2.1 Key Takeaways 2.2 Key Data Points 2.3 Market Dynamics 2.4 Porter’s Five Forces Analysis www.persistencemarketresearch.com ToC 12
  • Chapter 2. Executive Summary 2.1 Key Takeaways  The global ultrasound devices market was estimated to be valued at USD 6,515.5 million in 2012 and expected to reach 8,637.2 million by 2017 at a CAGR of 5.8%  Largest technology segment in diagnostic ultrasound was 2D ultrasound, estimated to be valued at USD xxxxx million and expected to reach xxxxxx million by 2017  The significant drivers for the market were emerging applications such as ambulatory & Emergency Medicine and Point-Of-Care ultrasound, hand-held ultrasound devices, advancing technologies, aging population, emerging countries and ease of use of devices  The significant growth inhibitors are still restricted to human expertise in understanding ultrasound images and conducting an ultrasound diagnostic test, technological limitations are other challenges faced by these devices since the quality of imaging is not compared to other imaging techniques  Major applications in diagnostic ultrasound are Radiology/Oncology, Obstetrics & Gynecology and Cardiology  Extracorporeal Shockwave Lithotripsy was the largest segment within therapeutic ultrasound market, which was estimated to be valued at USD 680.2 million and forecast to reach USD xxxxx million by 2017  Major applications in therapeutic ultrasound was uterine fibroids (HIFU) and urology (ESWL)  Europe led the ultrasound devices market with a share of xx% followed by North America with xx% in 2012  Top key players in the field are GE Healthcare, Philips Healthcare, Siemens Healthcare and Hitachi-Aloka (Hitachi Medical Corporation) www.persistencemarketresearch.com Chapter 2 13
  • Chapter 2. Executive Summary 2.2 Key Data Points Table 1: Market Scenario of Global Ultrasound Devices Market (2012 & 2017) MARKET (2012) CATEGORY MARKET FORECAST (2017) Global Diagnostic & Therapeutic Ultrasound Market USD $ 6.5 Billion USD $ 8.6 Billion, CAGR – 5.8% (2013 – 2017) Global Diagnostic Ultrasound Devices Market USD $ xx Billion USD $ xx Billion, CAGR – xx% (2013 – 2017) Global Therapeutic Ultrasound Devices Market USD $ xxxxx Million USD $ xxxxx Billion, CAGR – xx% (2013 – 2017) Europe Diagnostic & Therapeutic Ultrasound Market USD $ xx Billion USD $ xx Billion, CAGR – xx% (2013 – 2017) North America Diagnostic & Therapeutic Ultrasound Market USD $ xx Billion USD $ xx Billion, CAGR – xx% (2013 – 2017) Asia-Pacific Diagnostic & Therapeutic Ultrasound Market USD $ xx Billion USD $ xx Billion, CAGR – xx % (2013 – 2017) RoW Diagnostic & Therapeutic Ultrasound Market USD $ xx Million USD $ xx Million, CAGR – xx% (2013 – 2017) Cart or Trolley based ultrasound market USD $ xx Billion USD $ xx Billion, CAGR – xx% (2013 – 2017) Portable Ultrasound market USD $ xx Billion USD $ xx Billion, CAGR – xx% (2013 – 2017) Hand-held Ultrasound market USD $ xx Million USD $ xx Million, CAGR – xx% (2013 – 2017) www.persistencemarketresearch.com Chapter 2 14
  • Chapter 2. Executive Summary  2.2 Key Data Points Increasing adoption, awareness, superior imaging and efficacy is driving the growth of the market which was Figure 3: Global Ultrasound Devices Market, valued at USD xx billion in 2012 and forecast to reach 2010 - 2017 (USD Million) USD xx billion by 2017  Global demand stems primarily from hospitals followed by private practices such as gynecologists  The global market leaders are GE Healthcare, Philips Healthcare and Siemens Healthcare  Resale and refurbishing is a great opportunity in ultrasound devices market on a global level 2010 2011 2012 2013 2014 2015 2016 2017  The global market is broadly classified into the diagnostic and therapeutic applications of the ultrasound devices  Figure 4: Global Diagnostic & Therapeutic Ultrasound The diagnostic devices account for the largest share since the application has evolved several decades ago and is considered to be quite mature. It was valued at USD xx billion in 2012 Therapeutic devices have evolved in recent times and are used for several applications in medicine. The Devices Market, 2010-2017 (USD Million)  2010 2011 2012 2013 Diagnostic Ultrasound 2014 2015 2016 2017 Therapeutic Ultrasound market of ultrasound devices for therapeutic applications was valued at USD xx billion in 2012 and forecast to reach USD xx billion www.persistencemarketresearch.com Chapter 2 15
  • Chapter 2. Executive Summary  2.2 Key Data Points Figure 5: Diagnostic Ultrasound Market, by Technology,2012 (USD Million)   Total 2D 3D & 4D Doppler Figure 6: Global Therapeutic Ultrasound Devices  Market, by Technology 2012 (USD Million)  Total ESWL HIFU The global diagnostic ultrasound devices market is collectively comprised of three major technologies. The 2D ultrasound devices have been in use since decades and account for the largest which was estimated to be valued at USD xx billion in 2012 The 3D & 4D technologies have found major applications in gynecology and obstetrics and are a very popular tool for diagnosing health of the fetus. The market was valued at USD xx billion in 2012 and expected to have highest future growth potential. Doppler is used for calculating fetus heartbeat and for imaging blood flow. These major applications are estimated to account for USD xx billion in 2012 The global therapeutic ultrasound devices market can be further classified into two major commercial technologies, shockwave lithotripsy and high intensity focused ultrasound. The ESWL devices have been in use since the introduction of ultrasound in medicine. The market today is valued at approximately USD xxx million. Demand stems from the urology and nephrology diseases particularly renal calculus or kidney stones HIFU applications in medicine are quite new and highest efficacy has been shown in treatment of uterine fibroids. The market in 2012 was estimated to be valued at USD xx million www.persistencemarketresearch.com Chapter 2 16
  • Chapter 2. Executive Summary  2.2 Key Data Points Figure 7: Global Ultrasound Devices Market Share, by Key  Players (2012) GE  Philips Siemens  Hitachi-Aloka Biosound Esaote Toshiba Others Figure 8: Global Diagnostic Ultrasound Devices Market   Share, by Technology (2012) 2D Doppler  3D & 4D  The market is consolidated with 4-5 major players accounting for over 85% of the total market GE has maintained its position in the market for 2012 with a share of xx %. It’s Vscan is expected to have a high acceptance in the medical fraternity. GE is followed by xx and xx in this market with share of xx % and xx % The market share was achieved through several factors and not restricted to revenue generation. Several other factors considered were opinion of postsales services, training, cost of devices, resale value, ease of use and others. Other notable players are Hitachi-Aloka, Samsung Medison, Analogic and Toshiba The 2D ultrasound is currently phasing out black and white systems in many developed regions and relying on color imaging for better diagnostics. The market accounted for more than 50% of total share but this is rapidly decreasing market share due to the acceptance of greater technologies. 3D & 4D is the fastest growing technology predicted and will continue similar market dynamics through the forecast period. The technology has penetrated even remote regions of the world with cheap diagnostic clinics Doppler ultrasound will grow at a moderate rate through the forecast period www.persistencemarketresearch.com Chapter 2 17
  • Chapter 2. Executive Summary  2.2 Key Data Points Figure 9: Diagnostic Ultrasound Devices Market Share, By Geography (2012) Europe  North America Asia-Pacific RoW  Figure 10: Therapeutic Ultrasound Devices Market Share,  By Geography (2012) Europe  North America Asia-Pacific RoW  Europe represented the largest geographical market in terms of revenue for diagnostic ultrasound market with a market of USD xx billion which accounts for a share of approximately xx % followed by North America with xx % in 2012 Asia-Pacific represented the fastest growing region particularly led with countries China, Koreas and India. The increasing expenditure in healthcare infrastructure, restructuring of political and legal barriers to entry for healthcare industries make it a rising opportunities ROW consisting of Middle East, Latin America and Africa accounted for a share of xx % in 2012 North America led the therapeutic ultrasound devices market, particularly with HIFU technology in treatment of uterine fibroids in USA and emerging applications such as Renal Denervation, catheter delivered transcutaneous applications North America accounted for a share of xx % as compared with Europe which had share of xx % in 2012. Asia-Pacific and ROW are yet to showcase the potential market for therapeutic ultrasound due to the nascent stage of the devices. Most therapeutic technologies are in experimental stage but it is expected to exert full potential only after a few years www.persistencemarketresearch.com Chapter 2 18
  • Chapter 2. Executive Summary 2.2 Key Data Points • As per the growth and size of the market, Figure 11: Market Attractiveness – Ultrasound Devices Market, Asia-Pacific and Rest of the World regions MARKET IN USD MILLION by Geography (2012) are observed to be growing at a higher 3000.0 growth rate having greater potential 2500.0 • North America and 2000.0 Europe are slightly saturated markets with a much slower 1500.0 growth between 4% and xx % annually 1000.0 • Asia-Pacific & Rest of the World are the 500.0 most attractive and prospective segments in 0.0 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 the world 9.0 COMPOUNDED ANNUAL GROWTH RATE IN % Figure 12: Market Attractiveness - Ultrasound Devices Market, by Technology (2012) 3500 MARKET IN USD MILLION • As per the growth and size of the market, Doppler & HIFU are observed to be growing 3000 at a higher rate having greater potential. 2D 2500 ultrasound 2000 market 1500 a considerably saturated • 3D & 4D, HIFU and Doppler are the most 1000 attractive and prospective segments in the 500 world 0 -500 0.0 is 2.0 4.0 6.0 8.0 10.0 COMPOUNDED ANNUAL GROWTH RATE IN % www.persistencemarketresearch.com Chapter 2 19
  • Chapter 2. Executive Summary 2.3 Market Dynamics - Drivers  Emerging applications such as ambulatory & Emergency Medicine and Point-Of-Care ultrasound are expected to be key drivers in growth of this segment, due to want of diagnostic services close to patient bedside  The cost of ultrasound diagnostic test is very low as compared to other diagnostic imaging techniques which will drive the sales of these devices. In addition the test is completely non-invasive and well accepted among patients as well as medical practitioners  In therapeutic ultrasound, HIFU devices such as MRgFUS and ultrasound catheters used in ablation for procedures such as cardiology, uterine fibroids, renal denervation is expected to increase the growth of the market through the forecast period  In the products segment, the portable and hand-held devices will add significant growth to the market due to unmet need in emergency medicine and point-of-care diagnostics  Emerging economies such as China, Brazil, India and some other developing countries are expected to drive sales in all device segments due to want of cheaper diagnostic testing  Finally on the technological front, improving interface, ease of use and high quality imagery will provide better image and video quality. Moving images rendered using real-time scanning with image fusion or otherwise known as (4D) ultrasound is by far one of the most significant factors responsible for growth of the ultrasound devices market www.persistencemarketresearch.com Chapter 2 20
  • Chapter 2. Executive Summary 2.3 Market Dynamics - Inhibitors  Cost of cart-based and trolley-based devices is one of the primary cause of delay in purchase decisions for clinics and hospitals particularly in Asia. Most of these countries do not have the annual healthcare expenditure budget as much as countries in the western hemisphere. Hence device manufacturers will find market opportunity in mid and low level ultrasound systems  Although ultrasound is a safer technique, it does have challenges with image quality. Most radiological techniques are much clearer than ultrasound. Until complex software integration takes place with ultrasound devices, it is expected to be of minimum use in diagnostic applications besides gynecology. Another drawback is that the quality of imaging depends largely on the experience of the technician of the device  Most therapeutic ultrasound devices have recently entered the market, and the efficacy is yet to be fully ascertained. The therapeutic ultrasound devices in many other segments such as renal denervation ablation is yet not clearly understood and commercialized. Thus technological challenges and regulatory approvals are proving to be a high impact inhibitors on this market  Besides other major applications, governments in developing nations are clamping down on imports and purchase approvals of ultrasound devices since certain countries such as India have a mandatory norms on the identification of fetus. Thus sex identification through ultrasound is considered illegal due to high rate of female infanticide in the region www.persistencemarketresearch.com Chapter 2 21
  • Chapter 2. Executive Summary 2.3 Market Dynamics - Opportunities  Ultrasound devices market will find excellent opportunities in emerging economies of the world such as Latin America Middle-East and Asia-Pacific. The BRIC and middle-east regions have been observed to invest heavily in healthcare infrastructure, which will provide excellent proving ground for new entrants as well as established market players.  In terms of technology, hand-held ultrasound will find very good applications in point-of-care and emergency medicine. The devices are easy to operate and simple to interpret. With minimum training, even new users can adopt the technologies  Military medicine is also expected to offer a demand for portable and hand-held ultrasound devices. This has already been proven by the demand of diagnostic ultrasound devices from militaries of several developed countries. An onfield application for these devices is what differentiates ultrasound from other diagnostic devices such as MRI and CT. The latter are very large and miniaturization has not proven to be as successful till date  Remote regions such as Africa and Eastern European countries were always considered to be a small to moderate markets till date. The regions are expected to now offer excellent platform for targeting refurbished ultrasound devices  Due to modern communication technologies, therapeutic ultrasound devices are already a talk of the medical community and eager to try the new technologies with the clinical success shown in pre-commercialization phases www.persistencemarketresearch.com Chapter 2 22
  • Chapter 2. Executive Summary 2.4 Figure: 13 - Porter’s Five Forces Analysis New entrants New Entrant Determinants • New entrants in therapeutic ultrasound • Threat to global leaders in hand-held Threat of new entrants and compact ultrasound devices Suppliers (contd…) Bargaining power of suppliers Industry competitors Rivalry Determinants • Rivalry through better technology, innovation and acquisition • Companies are penetrating emerging Markets • Competition in therapeutic segment with catheter based technologies for a broad range of disease conditions Bargaining power of buyers Intensity of rivalry Supplier Power Determinants • Large number of OEM. Electronic components are easily available. Thus bargaining power of suppliers is moderate to low. Threat of substitutes Substitutes Buyers Buyer Power Determinants • High bargaining power of buyers since there are many players in the field • This is countered by introducing innovative technologies priced considerably higher Substitution Determinants • Ultrasound Imaging has several radiology based diagnostic technologies such as PET, MRI and others • Therapeutic ultrasound substitutes are RF ablation, cryoablation and others www.persistencemarketresearch.com Chapter 2 23
  • Chapter 2. Executive Summary 2.2 Market Dynamics - Porter’s Five Forces Analysis (contd…) THREAT OF NEW ENTRANTS  Current impact (2011-2013) – moderate; future impact (2013-2017) – high  There is a considerable threat of new entrants in the ultrasound market, particularly in the therapeutic ultrasound segment with advent of innovative catheter-based ultrasound devices in renal denervation and ablation by new and upcoming companies such as ReCor, Volcano and Mercator  The future impact of new entrants in therapeutic ultrasound devices is expected to be high due to greater efficacy and potential realized by medical community in the use of ultrasound as compared to other technologies  Diagnostic ultrasound segment has a consolidated market with 5-6 global leaders in technology, yet innovative emerging companies such as Mobisante are expected to commercialize the demand in point-of-care and emergency medicine by introducing hand-held ultrasound devices in the market THREAT OF EXISTING INDUSTRY COMPETITORS  Current impact (2011-2013) – moderate; future impact (2013-2017) – high  The ultrasound market is a field with rivalry only amongst top market players. Most players are developing advanced software systems to improve imaging quality. This can be seen from the competition in the 3D and 4D ultrasound market. Moving images and videos rendering software’s are in greater demand than 2D ultrasound.  In the therapeutic segment, it is expected to have intense rivalry with increasing success in new products, particularly with demand of minimally invasive procedures. Current market players are expected to gain product approval in the next few years which will only increase competition. www.persistencemarketresearch.com Chapter 2 24
  • Chapter 2. Executive Summary 2.2 Market Dynamics - Porter’s Five Forces Analysis BARGAINING POWER OF SUPPLIERS  Current impact (2011-2013) – moderate; future impact (2013-2017) – low  Suppliers of ultrasound companies include original equipment manufacturers, special components manufacturers which are then assembled with the addition of certain key components. The market for OEM’s and electronic components is highly fragmented, thus in coming years manufacturers will have a large number of companies to obtain parts, thus lowering their bargaining power. BARGAINING POWER OF BUYERS  Current impact (2011-2013) – high; future impact (2013-2017) – high  Buyers are expected to have high bargaining power in the future since there will be a large number of market players. Associated companies such as distributors and resellers will face tough challenges as cost of components drops in future, reducing the cost of new devices. Along with this, old equipment will have to be priced much lower to be cleared from manufacturer’s inventory as technology develops further. THREAT OF SUBSTITUTES  Current impact (2011-2013) – high; future impact (2013-2017) – high  Ultrasound imaging has a number of substitutes such as X-ray fluoroscopy, CT scans, PET/SPECT among many others. In therapeutic ablation, radiofrequency, cryoablation, electrical ablation are the most popular type of techniques. These substitutes are expected to be available in the future as well until the technical challenges of ultrasound cannot be cleared. www.persistencemarketresearch.com Chapter 2 25
  • Chapter 3: Global Diagnostic Ultrasound Devices Market, By Application (2012-2017) 3.1 Radiology/Oncology 3.2 Cardiology 3.3 Obstetrics & Gynecology 3.4 Mammography/Breast Ultrasound 3.5 Emergency Medicine 3.6 Vascular Ultrasound 3.7 Others (Point of Care, Musculoskeletal, Anesthesiology) www.persistencemarketresearch.com ToC 26
  • Chapter 3: Diagnostic Ultrasound Devices Market, by Application Figure 14: Comparative Analysis of the Global Diagnostic Ultrasound Devices Market, by Applications (2012 & 2017) 2012 Gynaecology 2017 Radiology Cardiology Emergency Medicine Mammography Vascular Others (Point of Care, Musculoskeletal, Anesthesiology) Current & future applications in ultrasound: 3.1 Radiology/Oncology • Ultrasound is used to locate and determine the size, shape and position of a tumor in the body. Ultrasound is one of the safest imaging modalities and does not pose additional danger such as the use of radiopharmaceuticals. The process may be done externally or by ultrasound interventional radiology. • A major challenge of ultrasound is that the technology cannot identify small group of cancerous cells in the body as compared to other highly sensitive tests • It is one of the most common tests for moderate to large tumors which is reliable, safe and provides very clear imaging. The growth of this market is challenged due to its limits of imaging only large tumors hence market growth is restricted. www.persistencemarketresearch.com Chapter 3 27
  • Chapter 3: Diagnostic Ultrasound Devices Market, by Application Table 2: Global Diagnostic Ultrasound Devices Market, by Application 2010 – 2017 (USD Million) Application 2010 2011 2012 2013 2014 2015 2016 2017 CAGR % (20122017) Gynecology 1,164.1 xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx Radiology/ Oncology 1,397.0 xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx Cardiology 1,047.7 xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx Emergency Medicine 582.1 xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx Mammography 349.2 xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx Vascular 698.5 xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx *Others 582.1 xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx 5,820.7 xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx Total *OTHERS - Anesthesiology, Point of care and Musculoskeletal applications are some other areas where ultrasound has become the modality of choice. www.persistencemarketresearch.com Chapter 3 31
  • Chapter 4: Global Diagnostic Ultrasound Devices Market, by Technology (2012-2017) 4.1 Global 2D Ultrasound Technology Devices Market, 2010 – 2017 (USD Million) 4.2 Global 3D & 4D Ultrasound Technology Devices Market, 2010 – 2017 (USD Million) 4.3 Global Doppler Ultrasound Technology Devices Market, 2010 – 2017 (USD Million) www.persistencemarketresearch.com ToC 32
  • Chapter 4: Diagnostic Ultrasound Devices Market, by Technology Table 3: Global Diagnostic Ultrasound Devices Market, by Technology 2010 – 2017 (USD Million) Diagnostic Ultrasound Market, by Technology 2010 2011 2012 2013 2014 2015 2016 2017 CAGR % (20122017) 2D xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx Doppler xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx 3D & 4D xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx Total Popular devices in diagnostic ultrasound by technology: 2D ultrasound • Gives a 2-dimensional real-time moving image by sending and receiving ultrasound waves. 3D & 4D ultrasound • Provides a 3-dimensional image rendered by multiple images captured in several geometrical planes and assembled by advanced software • A 4D ultrasound is obtained by capturing several 3D images and then processed by software into a moving 3D picture 3D & 4D ultrasound • A Doppler ultrasound is mostly used for assessing and imaging vascular functions related to blood flow volume, aneurysms and varicose veins. A non-imaging ultrasound Doppler is also used for fetal monitoring. www.persistencemarketresearch.com Chapter 4 33
  • Chapter 4: Diagnostic Ultrasound Devices Market, by Technology 4.1: Global 2D Ultrasound Technology Devices Market Figure 15: Global 2D Ultrasound Technology Devices Market, 2010 – 2017 (USD Million) 2010 2011 2012 2013 2014 2015 2016 2017 Europe is the largest market for 2D ultrasound devices, followed by North America due to inexpensive testing preferred by medical professionals. AsiaPacific is the fastest growing market due to demand from India, South-East Asia and China. 2D ultrasound market trends & forecast: • Decreasing demand for the technology in almost all applications due to increasing demand for more advanced, beneficial and effective 3D&4D ultrasound devices. Demand is still consistent in developing regions such as Asia, Latin America and Africa. Also, the use of black & white 2D ultrasound is still adequate in medical community since most technicians and physicians are quite proficient with operating 2D machines. Regional Anesthesia is an emerging application for ultrasound. • Major drivers are availability of affordable compact and hand-held devices for quick scans, real-time imaging can be done with a view of moving internal anatomy, very affordable procedure cost. Restraints are that 2D cannot perform volumetric analysis in shape and size of fetus, tumor, eyes, fetal bone abnormalities, placement of biopsy needles among others. www.persistencemarketresearch.com Chapter 4 34
  • Chapter 5: Global Diagnostic Ultrasound Devices Market, by Products (2012-2017) 5.1 Global Cart-Based Ultrasound Devices Market, 2010 – 2017 (USD Million) 5.2 Global Portable Ultrasound Devices Market, 2010 – 2017 (USD Million) 5.3 Global Hand-held Ultrasound Devices Market, 2010 – 2017 (USD Million) www.persistencemarketresearch.com ToC 37
  • Chapter 5: Diagnostic Ultrasound Devices Market, by Products Table 4: Global Diagnostic Ultrasound Devices Market, by Products 2010 – 2017 (USD Million) Diagnostic Ultrasound Market, by Products 2010 2011 2012 2013 2014 2015 2016 2017 CAGR % (20122017) Cart based xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx Portable xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx Hand-Held xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx Total xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx Popular devices in diagnostic ultrasound by product segments: Cart or trolley based ultrasound systems • The devices are commonly used in hospitals, large healthcare institutions and clinics and have greater functionality and imaging options as compared with portable and hand-held ultrasound devices. They are large and difficult to transport in small areas. Portable ultrasound systems • Laptop sized devices which are comparable in performance with cart based systems but not in memory storage and power options. • The demand stems from point-of-care and emergency medicine. Technicians have begun replacing old systems with such devices as they have excellent portability. Hand-held ultrasound systems • The size is of a large smart-phone or a tablet PC. These are extremely useful in primary care and quick scans but lag behind in performance. Also requires considerable skill in diagnosing since imaging quality is much lower. www.persistencemarketresearch.com Chapter 5 38
  • Chapter 6: Global Therapeutic Ultrasound Devices Market, by Products (2012-2017) 6.1 Global HIFU Therapeutic Ultrasound Devices Market, 2010 – 2017 (USD Million) 6.2 Global ESWL Therapeutic Ultrasound Devices Market, 2010 – 2017 (USD Million) www.persistencemarketresearch.com ToC 42
  • Chapter 6: Therapeutic Ultrasound Devices Market, by Products 6.2: Global ESWL Therapeutic Ultrasound Devices Market Figure 22: Global ESWL Therapeutic Ultrasound Devices Market, 2010 – 2017 (USD Million) The global growth for these devices is predicted to remain consistent throughout the forecast period. EDAP TMS is one of the market leaders for this segment along with other segment players such as Dornier Tech. 2010 2011 2012 2013 2014 2015 2016 2017 Therapeutic ESWL device applications: • ESWL market is considered to be mature since the devices have a single purpose and application. Considering a porter’s forces model, the technology also has several substitutes to compete with equal efficacy such as electromagnetic, electro hydraulic and laser lithotripsy. • In most cases, ureters become stone-free after ESWL, although residual fragments are rather common after ESWL of renal stones. Research studies show that in around 60% of patients with residual fragments the situation was essentially unchanged during a four-year follow-up. www.persistencemarketresearch.com Chapter 6 44
  • Chapter 7: Diagnostic & Therapeutic Ultrasound Devices Market, by Geography(2012-2017) 7.1 Diagnostic Ultrasound Devices Market, by Geography, 2010 – 2017 (USD Million) 7.2 Therapeutic Ultrasound Devices Market, by Geography, 2010 – 2017 (USD Million) 7.3 Therapeutic (HIFU & ESWL) Ultrasound Devices Market, by Geography, 2010 – 2017 (USD Million) 7.4 North America Diagnostic & Therapeutic Ultrasound Devices Market, 2010 – 2017 (USD Million) 7.5 Europe Diagnostic & Therapeutic Ultrasound Devices Market, 2010 – 2017 (USD Million) 7.6 Asia-Pacific Diagnostic & Therapeutic Ultrasound Devices Market, 2010 – 2017 (USD Million) 7.7 Rest of the World Diagnostic & Therapeutic Ultrasound Devices Market, 2010 – 2017 (USD Million) www.persistencemarketresearch.com ToC 45
  • Chapter 7: Diagnostic & Therapeutic Ultrasound Devices Market, by Geography 7.1: Diagnostic Ultrasound Devices Market, by Geography Table 5: Diagnostic Ultrasound Devices Market, by Geography, 2010 – 2017 (USD Million) Geography 2010 2011 2012 2013 2014 2015 2016 2017 CAGR % (20122017) Europe xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx North America xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx Asia-Pacific xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx RoW xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx Total xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx Diagnostic ultrasound devices market by geography: • The global ultrasound market is quite stable considering the minimal effects it had, due to the fluctuations in world economy. The geographical segmentation is composed of North America (United States and Canada), Europe (EU5 - Germany, Italy, France, Great Britain, Spain and other minor economies), Asia-Pacific (Japan, South-East Asia, China, Indian subcontinent, Australia, New Zealand and Koreas) and Rest of the World (Latin America, Middle –East and Africa). • Key global players are Philips, Siemens, GE and regional leaders such as Toshiba, Hitachi-Aloka, Analogic and Esaote. www.persistencemarketresearch.com Chapter 7 46
  • Chapter 7: Diagnostic & Therapeutic Ultrasound Devices Market, by Geography 7.3: Therapeutic (HIFU & ESWL) Ultrasound Devices Market, by Geography Table 7: Therapeutic HIFU Ultrasound Devices Market, by Geography 2010 – 2017 (USD Million) Geography 2010 2011 2012 2013 2014 2015 2016 2017 CAGR % (20122017) Europe xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx North America xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx Asia-Pacific xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx RoW xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx Total xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx Table 8: Therapeutic ESWL Ultrasound Devices Market, by Geography 2010 – 2017 (USD Million) Geography 2010 2011 2012 2013 2014 2015 2016 2017 CAGR % (20122017) Europe xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx North America xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx Asia-Pacific xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx RoW xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx Total xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx www.persistencemarketresearch.com Chapter 7 48
  • Chapter 7: Diagnostic & Therapeutic Ultrasound Devices Market, by Geography 7.4: North America Diagnostic & Therapeutic Ultrasound Devices Market Figure 23: North America Diagnostic & Therapeutic Ultrasound Devices Market, 2010 – 2017 (USD Million) United States accounts for around 85% of the total revenue in North America. New technological innovations and software developed by few players is expected to shift the balance and propel the market in U.S. in coming 2010 2011 2012 2013 Diagnostic Ultrasound 2014 2015 2016 2017 years. Therapeutic Ultrasound North America: • The major drivers in North America for diagnostic ultrasound procedures is a stable reimbursement system particularly for 3D & 4D ultrasound along with the increasing usage of invasive IVUS procedures • Notable players in the region are Philips, GE, Siemens and Analogic. The demand is particularly high for highend premium ultrasound systems. The average yearly budget for very large hospitals can extend anywhere from USD xxx million to USD xxx million www.persistencemarketresearch.com Chapter 7 49
  • Chapter 8: Competitive Landscape & Company Profiles of key Players 8.1 Global Ultrasound Devices Market Share Analysis, by Key Players (2012) 8.2 Company Profiles 8.2.1 8.2.2 GE Healthcare 8.2.3 Philips Healthcare 8.2.4 Siemens Healthcare 8.2.5 Hitachi Medical Corporation 8.2.6 www.persistencemarketresearch.com Analogic Corporation Other Notable Players ToC 53
  • Chapter 8: Competitive Landscape 8.1: Global Ultrasound Devices Market Share Analysis, by Key Players Figure 27: Global Ultrasound Devices Market Share Analysis, by Key Players GE healthcare leads the market with a share (2012) of 29.9%, supported by a large ultrasound GE Philips Siemens HitachiAloka technologies portfolio in its diagnostic imaging segment. GE Healthcare’s ultrasound devices are in popular demand even in the refurbished medical devices market. Vscan, arguably the world’s best hand-held ultrasound device is also one of the most popular in medical community. Competitive Landscape: • Philips Healthcare accounts for xxx % of the total market followed by xxx with an estimated market share of xxx % in the global ultrasound devices market • The three top players together supply approximately xxx % of the global demand for ultrasound devices. Xxx is estimated to have lost a sizable market share in its imaging businesses, with a tough fiscal 2012. • Other highlighted players growing are Hitachi-Aloka. The companies after merging in 2011 are now competing directly with stalwarts like GE, Philips and Siemens. Other notable players are Biosound Esaote, Toshiba, Mindray, SonoSite among others. www.persistencemarketresearch.com Chapter 8 54
  • Chapter 8: Company Profiles 8.2.1: Analogic Corporation Overview Key Product Types Analogic Corporation founded in 1967 has grown to become one of the most trusted brands in ultrasound medical imaging. The company operates in several segments of imaging for healthcare, security & threat detection. The company has a strong presence in North America but is also present in western Europe. The company is currently developing a new center in Shanghai-Asia for penetrating the emerging markets as well. Analogic Corporation is headquartered in Peabody, Massachusetts U.S. and employs approximately 1650 people currently. Computed Tomography, Magnetic Resonance Imaging, Ultrasound, X-ray devices, etc. Table: 9 - Total Revenues, By Segment ($Million) Segment Medical Imaging 2010 2011 2012 283.0 326.1 301.7 Ultrasound 90.0 96.4 151.2 Security Imaging 50.6 51.1 63.6 423.6 473.6 516.5 Total revenues Key Highlights The company’s recent acquisition of Ultrasonix in 2013 has added a crucial facet to the company’s portfolio. Ultrasonix’s point-of-care product segment is expected to propel the growth for Analogic in the next few years. The recent construction of Asian center in Shanghai (China) will enable the company to compete with Asian ultrasound companies such as Fukuda-Denshi, Toshiba, Hitachi-Aloka and Mind Ray among others. www.persistencemarketresearch.com Chapter 8 55
  • Chapter 8: Company Profiles 8.2.2: GE Healthcare Overview Key Product Types GE Healthcare founded in 2004 is headquartered in the United Kingdom is currently a USD 18.3 billion dollar technologies unit of General Electric Company. The company has a broad expertise in medical imaging and information technologies and is one of the market leaders in this area. It operates in medical diagnostics, patient monitoring systems, performance improvement, drug discovery, and biopharmaceutical manufacturing technologies. As of 2012, the company employs more than 46,000 people till date and functions in more than 100 countries. Computed Tomography, Magnetic Resonance Imaging, Ultrasound, Digital Mammography, Security X-ray devices and Radiotherapy Key Highlights Table: 11 - Total Revenues, By Geography ($Billion) GE Healthcare’s Ultrasound portfolio offers both diagnostic as well as therapeutic ultrasound devices. The company’s investment in ultrasound manufacturer InSightec was recently approved for bone pain therapy in November last year increasing the therapeutic ability of the device, which is also applicable for treating uterine fibroids and bone malignancies. Acknowledging latest IT resources, GE healthcare also signed an agreement to distribute Studycast which is a cloud based PACS and reporting solution. Table: 10 - Healthcare Revenues ($Billion) Segment GE Healthcare Revenues Total revenues Healthcare % Share of total revenue Region 2010 2011 2012 16.9 18.1 18.3 149.6 147.3 147.4 11.3% 12.3% 12.4% 2010 2011 2012 U.S. 75.1 69.8 70.4 Europe 30.9 29.0 27.4 Pacific Basin 20.8 23.2 24.5 Americas 11.7 13.3 13.2 Middle East and Africa 11.1 12.0 11.9 149.6 147.3 147.4 Total www.persistencemarketresearch.com Chapter 8 56
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