U.S. Ultrasound Market Grows To All-time High In 2013 According to Klein Biomedical Consultants, Inc.
Industry Leading Klein Report Indicates Eight Percent Growth in Radiology Market, Despite Declines in Reimbursement and Slow Economic Recovery
New York (PRWEB) May 30, 2014
According to recently published report The Medical Diagnostic Ultrasound Market in the USA: Challenges & Opportunities in the New Millennium, 2013 report, the U.S. ultrasound market grew almost three percent last year compared to 2012 to reach an all-time high of $1.44 billion. Authored by long-time U.S. ultrasound market analyst Harvey Klein, Ph.D., the report reflects double-digit growth in the point-of-care market which was partially responsible for the rise in market revenues.
“In spite of the uncertainties caused by the Affordable Care Act, continued declines in reimbursement and slow economic growth, we saw an uptick in ultrasound purchases,” said Klein. “Musculoskeletal and critical care point-of-care markets showed outstanding growth. Radiology grew eight percent, but the gain was somewhat offset by a decline in cardiology.”
Klein attributes the decline in cardiology partially to the late introduction of the Philips’ EPIQ system which he considers to be the next wave of premium systems. The expectation of this launch stalled the market and shipments of the system were too late in the year to have a positive impact on the growth of the cardiology market. This decline was also reflected in GE stretching its share lead by several percentage points over Philips, the number two competitor in the overall U.S. market.
“We did not see a shift from premium systems to lower performance systems,” Klein said. “We did see further consolidation in the industry with the acquisition of Ultrasonix by Analogic and the purchase of ZONARE by Mindray. The combined shares of the top four companies were relatively unchanged year-over-year remaining at about 75 percent.”
Each of the three top selling products had revenue of over $100 million and all were in the premium category. The GE LOGIQ E9 radiology system became the number one selling product on the market in 2013.
The report is the 32nd annual report in the series. In it, Klein also predicts the U.S. ultrasound market will grow to $1.88 billion by 2018, representing an annual rate of growth of 5.8 percent.
About Klein Biomedical Consultants, Inc.
Klein Biomedical Consultants (KBC) is a strategic marketing consulting firm specializing in the medical diagnostic field. KBC has provided marketing and technical guidance to nearly 150 corporations throughout its 33 year history. It is recognized as a leading authority on the medical diagnostic ultrasound industry. KBC is known for its series of comprehensive, multi-client ultrasound market studies. Since 1981, forty-five reports have been published, including three studies of the ultrasound contrast agent market. KBC’s list of clients includes virtually every leading ultrasound equipment manufacturer in the world. These manufacturers account for an estimated 90 percent of the more than $6 billion worldwide ultrasound equipment market.
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Harvey G. Klein, Ph.D.
Klein Biomedical Consultants, Inc.
For the original version on PRWeb visit: http://www.prweb.com/releases/2014/05/prweb11892201.htm