Therapeutic Ultrasound Devices Market Forecast (2024-2031), Size
The Therapeutic Ultrasound Devices Market is expected to register a CAGR of 5.3% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Technology (High Intensity Focused Ultrasound, Extracorporeal Shockwave Lithotripsy). The report is segmented by Application (Cancer, Gynecology and Obstetrics, Cardiovascular Disorders, Urinary Disorders, Others). The report is segmented by End-User (Hospitals, Clinics, Diagnostic Centers, Ambulatory Surgical Centers, Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Therapeutic Ultrasound Devices Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Therapeutic Ultrasound Devices Market Segmentation
Technology- High Intensity Focused Ultrasound
- Extracorporeal Shockwave Lithotripsy
- Cancer
- Gynecology and Obstetrics
- Cardiovascular Disorders
- Urinary Disorders
- Others
- Hospitals
- Clinics
- Diagnostic Centers
- Ambulatory Surgical Centers
- Others
Strategic Insights
Therapeutic Ultrasound Devices Market Growth Drivers- Increase in Chronic Illnesses and Disorders of the Musculoskeletal System: The therapeutic ultrasound devices market is primarily propelled by the increase in chronic diseases across the globe, especially the musculoskeletal disorders such as arthritis, joint pain, and soft tissue injuries. Ultrasound therapy is also applied due to its non-invasive nature, which relieves pain and assists in healing tissues, and therefore finds application in disorders like tendonitis, bursitis and in sprains. The global population is growing older, resulting in an increased demand for such treatment options that are non-evasive in nature.
- Innovations of Ultrasound Technology: The therapeutic ultrasound devices have been experiencing an overhaul owing to the innovations and developments of ultrasound technology. These sophisticated ultrasound machines are equipped with high definition imaging capabilities, enhanced imaging depth and video modes to allow real time scanning thus enhancing effectiveness of treatment. In addition, novel ideation, such as portable, hand-held ultrasound machines, are enabling both patients and healthcare providers to undergo the procedures with ease, thus fuelling market expansion.
- Growing Preference for Non-Invasive Therapies: Patients and health care providers are turning away from surgical procedures have very high risks. Therapeutic ultrasound has many advantages such as control of pain, improvement of blood flow to tissues, and enhancement of tissue healing with no cuts or anesthesia. There is a rising awareness among patients toward adoption of ultrasound devices, and hence the trend is likely to continue growing.
- Portable and Point-of-Care Devices: There is a distinct movement in the direction of clinical therapeutic ultrasound device miniaturization and development of point-of-care units. These small, lightweight, and user-friendly units allow health care practitioners to deliver treatments in diverse settings including home, outpatient and rehabilitation services. The rise in the use of portable ultrasound units is witnessed mainly in regions where hospital-based services are scarce and verticals such as sports medicine, physiotherapy, or even home healthcare.
- Integration of Ultrasound with Other Modalities: Equally important, if not the most important, is the fact that ultrasound is also incorporated as one of the other therapeutic modalities in therapeutic ultrasound: for instance with electro or electromagnetic fields. Such devices claim to provide treatment by the use of different therapies in one device. For instance, applying ultrasound therapy and at the same time using low laser therapy (LLLT) or radio frequency (RF) therapy will promote/ facilitate the healing process and cut down inflammation much more than when using ultrasound alone.
- Telemedicine and Remote Monitoring: Rising trends in telemedicine and remote patient monitoring are also having an impact on the therapeutic ultrasound market. The increasing adaptation of telehealth services has seen ultrasound machines modified to enable patients to carry out consultations as well as diagnoses, treatment in some instances, remotely. This becomes particularly relevant in remote or developing regions where patients cannot easily reach specialized healthcare facilities. Treating patients with ultrasound treatment performed remotely allows adjustment of treatment while monitoring the patient’s progress for a more effective approach to care.
- Expanding Applications in Neurology and Focused Ultrasound Treatment: In the US therapeutic ultrasound has developed considerably in association with musculoskeletal disorders. However, emerging studies show that the ultrasound technology and its application in therapeutics has great promise in neurology, and especially in the management of diseases like Parkinson’s, stroke rehabilitation, and even neoplastic disease of the brain. Benefits of Focusing Ultrasound Supported With Other Imaging Technologies Focused ultrasound is being explored as a means of delivering highly localized treatment into the brain, thus enabling new advances in non-invasive neurologic intervention.
- Emerging Markets in Asia-Pacific and Latin America: The therapeutic ultrasound devices market has a large potential that remains to be exploited especially in the developing countries of the Asia-Pacific and Latin American regions. These regions are characterized by improved healthcare opportunities such as increasing healthcare expenditure, growing knowledge on non-invasive treatment alternatives, and better healthcare facilities making them attractive. There are realistic prospects on in local manufacturing, distribution and marketing for the companies in these fast growing markets.
- Development of Home Healthcare Solutions: A shift in care from in: hospital to out: of: hospital services calls for innovative therapeutic ultrasound devices intended for use at home. The main advantage of these devices is that patients can be treated without regular visits to medical institutions. The trend towards home healthcare solutions, especially with the growth of chronic diseases and pain in the musculoskeletal system, offers great possibilities for developing and marketing such cost: efficient ultrasound systems.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Therapeutic Ultrasound Devices Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Therapeutic Ultrasound Devices Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Hospital segment, by end user, dominated the market in 2023.
Players operating in the market are EDAP TMS, Dornier Medtech, InSightec, CANON MEDICAL SYSTEMS CORPORATION, Koninklijke Philips N.V, FUJIFILM Healthcare Europe, Shenzhen Huikang Medical Apparatus Co., Ltd, Shenzhen Mindray Bio-Medical Electronics Co., Ltd, General Electric Company, Analogic Corporation
North America region dominated the Therapeutic Ultrasound Devices market in 2023.
Expanding Applications in Neurology and Focused Ultrasound Treatment act as a opportunity for growth of the market in forecast period.
The Therapeutic Ultrasound Devices Market is estimated to witness a CAGR of 5.3% from 202#to 2031
The major factors driving the Therapeutic Ultrasound Devices market are:
1. Increase in Chronic Illnesses and Disorders of the Musculoskeletal System
2. Innovations of Ultrasound Technology
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Therapeutic Ultrasound Devices Market - By Technology
1.3.2 Therapeutic Ultrasound Devices Market - By Application
1.3.3 Therapeutic Ultrasound Devices Market - By End-User
1.3.4 Therapeutic Ultrasound Devices Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. THERAPEUTIC ULTRASOUND DEVICES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. THERAPEUTIC ULTRASOUND DEVICES MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. THERAPEUTIC ULTRASOUND DEVICES MARKET - GLOBAL MARKET ANALYSIS
6.1. THERAPEUTIC ULTRASOUND DEVICES - GLOBAL MARKET OVERVIEW
6.2. THERAPEUTIC ULTRASOUND DEVICES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. THERAPEUTIC ULTRASOUND DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
7.1. OVERVIEW
7.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
7.3. HIGH INTENSITY FOCUSED ULTRASOUND
7.3.1. Overview
7.3.2. High Intensity Focused Ultrasound Market Forecast and Analysis
7.4. EXTRACORPOREAL SHOCKWAVE LITHOTRIPSY
7.4.1. Overview
7.4.2. Extracorporeal Shockwave Lithotripsy Market Forecast and Analysis
8. THERAPEUTIC ULTRASOUND DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. CANCER
8.3.1. Overview
8.3.2. Cancer Market Forecast and Analysis
8.4. GYNECOLOGY AND OBSTETRICS
8.4.1. Overview
8.4.2. Gynecology and Obstetrics Market Forecast and Analysis
8.5. CARDIOVASCULAR DISORDERS
8.5.1. Overview
8.5.2. Cardiovascular Disorders Market Forecast and Analysis
8.6. URINARY DISORDERS
8.6.1. Overview
8.6.2. Urinary Disorders Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. THERAPEUTIC ULTRASOUND DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
9.1. OVERVIEW
9.2. END-USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS
9.3.1. Overview
9.3.2. Hospitals Market Forecast and Analysis
9.4. CLINICS
9.4.1. Overview
9.4.2. Clinics Market Forecast and Analysis
9.5. DIAGNOSTIC CENTERS
9.5.1. Overview
9.5.2. Diagnostic Centers Market Forecast and Analysis
9.6. AMBULATORY SURGICAL CENTERS
9.6.1. Overview
9.6.2. Ambulatory Surgical Centers Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. THERAPEUTIC ULTRASOUND DEVICES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Therapeutic Ultrasound Devices Market Overview
10.1.2 North America Therapeutic Ultrasound Devices Market Forecasts and Analysis
10.1.3 North America Therapeutic Ultrasound Devices Market Forecasts and Analysis - By Technology
10.1.4 North America Therapeutic Ultrasound Devices Market Forecasts and Analysis - By Application
10.1.5 North America Therapeutic Ultrasound Devices Market Forecasts and Analysis - By End-User
10.1.6 North America Therapeutic Ultrasound Devices Market Forecasts and Analysis - By Countries
10.1.6.1 United States Therapeutic Ultrasound Devices Market
10.1.6.1.1 United States Therapeutic Ultrasound Devices Market by Technology
10.1.6.1.2 United States Therapeutic Ultrasound Devices Market by Application
10.1.6.1.3 United States Therapeutic Ultrasound Devices Market by End-User
10.1.6.2 Canada Therapeutic Ultrasound Devices Market
10.1.6.2.1 Canada Therapeutic Ultrasound Devices Market by Technology
10.1.6.2.2 Canada Therapeutic Ultrasound Devices Market by Application
10.1.6.2.3 Canada Therapeutic Ultrasound Devices Market by End-User
10.1.6.3 Mexico Therapeutic Ultrasound Devices Market
10.1.6.3.1 Mexico Therapeutic Ultrasound Devices Market by Technology
10.1.6.3.2 Mexico Therapeutic Ultrasound Devices Market by Application
10.1.6.3.3 Mexico Therapeutic Ultrasound Devices Market by End-User
10.2. EUROPE
10.2.1 Europe Therapeutic Ultrasound Devices Market Overview
10.2.2 Europe Therapeutic Ultrasound Devices Market Forecasts and Analysis
10.2.3 Europe Therapeutic Ultrasound Devices Market Forecasts and Analysis - By Technology
10.2.4 Europe Therapeutic Ultrasound Devices Market Forecasts and Analysis - By Application
10.2.5 Europe Therapeutic Ultrasound Devices Market Forecasts and Analysis - By End-User
10.2.6 Europe Therapeutic Ultrasound Devices Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Therapeutic Ultrasound Devices Market
10.2.6.1.1 Germany Therapeutic Ultrasound Devices Market by Technology
10.2.6.1.2 Germany Therapeutic Ultrasound Devices Market by Application
10.2.6.1.3 Germany Therapeutic Ultrasound Devices Market by End-User
10.2.6.2 France Therapeutic Ultrasound Devices Market
10.2.6.2.1 France Therapeutic Ultrasound Devices Market by Technology
10.2.6.2.2 France Therapeutic Ultrasound Devices Market by Application
10.2.6.2.3 France Therapeutic Ultrasound Devices Market by End-User
10.2.6.3 Italy Therapeutic Ultrasound Devices Market
10.2.6.3.1 Italy Therapeutic Ultrasound Devices Market by Technology
10.2.6.3.2 Italy Therapeutic Ultrasound Devices Market by Application
10.2.6.3.3 Italy Therapeutic Ultrasound Devices Market by End-User
10.2.6.4 Spain Therapeutic Ultrasound Devices Market
10.2.6.4.1 Spain Therapeutic Ultrasound Devices Market by Technology
10.2.6.4.2 Spain Therapeutic Ultrasound Devices Market by Application
10.2.6.4.3 Spain Therapeutic Ultrasound Devices Market by End-User
10.2.6.5 United Kingdom Therapeutic Ultrasound Devices Market
10.2.6.5.1 United Kingdom Therapeutic Ultrasound Devices Market by Technology
10.2.6.5.2 United Kingdom Therapeutic Ultrasound Devices Market by Application
10.2.6.5.3 United Kingdom Therapeutic Ultrasound Devices Market by End-User
10.2.6.6 Rest of Europe Therapeutic Ultrasound Devices Market
10.2.6.6.1 Rest of Europe Therapeutic Ultrasound Devices Market by Technology
10.2.6.6.2 Rest of Europe Therapeutic Ultrasound Devices Market by Application
10.2.6.6.3 Rest of Europe Therapeutic Ultrasound Devices Market by End-User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Therapeutic Ultrasound Devices Market Overview
10.3.2 Asia-Pacific Therapeutic Ultrasound Devices Market Forecasts and Analysis
10.3.3 Asia-Pacific Therapeutic Ultrasound Devices Market Forecasts and Analysis - By Technology
10.3.4 Asia-Pacific Therapeutic Ultrasound Devices Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Therapeutic Ultrasound Devices Market Forecasts and Analysis - By End-User
10.3.6 Asia-Pacific Therapeutic Ultrasound Devices Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Therapeutic Ultrasound Devices Market
10.3.6.1.1 Australia Therapeutic Ultrasound Devices Market by Technology
10.3.6.1.2 Australia Therapeutic Ultrasound Devices Market by Application
10.3.6.1.3 Australia Therapeutic Ultrasound Devices Market by End-User
10.3.6.2 China Therapeutic Ultrasound Devices Market
10.3.6.2.1 China Therapeutic Ultrasound Devices Market by Technology
10.3.6.2.2 China Therapeutic Ultrasound Devices Market by Application
10.3.6.2.3 China Therapeutic Ultrasound Devices Market by End-User
10.3.6.3 India Therapeutic Ultrasound Devices Market
10.3.6.3.1 India Therapeutic Ultrasound Devices Market by Technology
10.3.6.3.2 India Therapeutic Ultrasound Devices Market by Application
10.3.6.3.3 India Therapeutic Ultrasound Devices Market by End-User
10.3.6.4 Japan Therapeutic Ultrasound Devices Market
10.3.6.4.1 Japan Therapeutic Ultrasound Devices Market by Technology
10.3.6.4.2 Japan Therapeutic Ultrasound Devices Market by Application
10.3.6.4.3 Japan Therapeutic Ultrasound Devices Market by End-User
10.3.6.5 South Korea Therapeutic Ultrasound Devices Market
10.3.6.5.1 South Korea Therapeutic Ultrasound Devices Market by Technology
10.3.6.5.2 South Korea Therapeutic Ultrasound Devices Market by Application
10.3.6.5.3 South Korea Therapeutic Ultrasound Devices Market by End-User
10.3.6.6 Rest of Asia-Pacific Therapeutic Ultrasound Devices Market
10.3.6.6.1 Rest of Asia-Pacific Therapeutic Ultrasound Devices Market by Technology
10.3.6.6.2 Rest of Asia-Pacific Therapeutic Ultrasound Devices Market by Application
10.3.6.6.3 Rest of Asia-Pacific Therapeutic Ultrasound Devices Market by End-User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Therapeutic Ultrasound Devices Market Overview
10.4.2 Middle East and Africa Therapeutic Ultrasound Devices Market Forecasts and Analysis
10.4.3 Middle East and Africa Therapeutic Ultrasound Devices Market Forecasts and Analysis - By Technology
10.4.4 Middle East and Africa Therapeutic Ultrasound Devices Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Therapeutic Ultrasound Devices Market Forecasts and Analysis - By End-User
10.4.6 Middle East and Africa Therapeutic Ultrasound Devices Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Therapeutic Ultrasound Devices Market
10.4.6.1.1 South Africa Therapeutic Ultrasound Devices Market by Technology
10.4.6.1.2 South Africa Therapeutic Ultrasound Devices Market by Application
10.4.6.1.3 South Africa Therapeutic Ultrasound Devices Market by End-User
10.4.6.2 Saudi Arabia Therapeutic Ultrasound Devices Market
10.4.6.2.1 Saudi Arabia Therapeutic Ultrasound Devices Market by Technology
10.4.6.2.2 Saudi Arabia Therapeutic Ultrasound Devices Market by Application
10.4.6.2.3 Saudi Arabia Therapeutic Ultrasound Devices Market by End-User
10.4.6.3 U.A.E Therapeutic Ultrasound Devices Market
10.4.6.3.1 U.A.E Therapeutic Ultrasound Devices Market by Technology
10.4.6.3.2 U.A.E Therapeutic Ultrasound Devices Market by Application
10.4.6.3.3 U.A.E Therapeutic Ultrasound Devices Market by End-User
10.4.6.4 Rest of Middle East and Africa Therapeutic Ultrasound Devices Market
10.4.6.4.1 Rest of Middle East and Africa Therapeutic Ultrasound Devices Market by Technology
10.4.6.4.2 Rest of Middle East and Africa Therapeutic Ultrasound Devices Market by Application
10.4.6.4.3 Rest of Middle East and Africa Therapeutic Ultrasound Devices Market by End-User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Therapeutic Ultrasound Devices Market Overview
10.5.2 South and Central America Therapeutic Ultrasound Devices Market Forecasts and Analysis
10.5.3 South and Central America Therapeutic Ultrasound Devices Market Forecasts and Analysis - By Technology
10.5.4 South and Central America Therapeutic Ultrasound Devices Market Forecasts and Analysis - By Application
10.5.5 South and Central America Therapeutic Ultrasound Devices Market Forecasts and Analysis - By End-User
10.5.6 South and Central America Therapeutic Ultrasound Devices Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Therapeutic Ultrasound Devices Market
10.5.6.1.1 Brazil Therapeutic Ultrasound Devices Market by Technology
10.5.6.1.2 Brazil Therapeutic Ultrasound Devices Market by Application
10.5.6.1.3 Brazil Therapeutic Ultrasound Devices Market by End-User
10.5.6.2 Argentina Therapeutic Ultrasound Devices Market
10.5.6.2.1 Argentina Therapeutic Ultrasound Devices Market by Technology
10.5.6.2.2 Argentina Therapeutic Ultrasound Devices Market by Application
10.5.6.2.3 Argentina Therapeutic Ultrasound Devices Market by End-User
10.5.6.3 Rest of South and Central America Therapeutic Ultrasound Devices Market
10.5.6.3.1 Rest of South and Central America Therapeutic Ultrasound Devices Market by Technology
10.5.6.3.2 Rest of South and Central America Therapeutic Ultrasound Devices Market by Application
10.5.6.3.3 Rest of South and Central America Therapeutic Ultrasound Devices Market by End-User
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. THERAPEUTIC ULTRASOUND DEVICES MARKET, KEY COMPANY PROFILES
12.1. EDAP TMS
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. DORNIER MEDTECH
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. INSIGHTEC
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. CANON MEDICAL SYSTEMS CORPORATION
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. KONINKLIJKE PHILIPS N.V
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. FUJIFILM HEALTHCARE EUROPE
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. SHENZHEN HUIKANG MEDICAL APPARATUS CO., LTD
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS CO., LTD
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. GENERAL ELECTRIC COMPANY
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. ANALOGIC CORPORATION
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. EDAP TMS
2. Dornier Medtech
3. InSightec
4. CANON MEDICAL SYSTEMS CORPORATION
5. Koninklijke Philips N.V
6. FUJIFILM Healthcare Europe
7. Shenzhen Huikang Medical Apparatus Co., Ltd
8. Shenzhen Mindray Bio-Medical Electronics Co., Ltd
9. General Electric Company
10. Analogic Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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