SEATTLE, May 11, 2021, (MEDGADGET) — Overview:
Phased array ultrasonic transducers play an important role in modern health care, as they are a high-tech method of ultrasonic testing, widely used in medical imaging and industrial non-destructive testing. Phased array ultrasonic transducers are used in medical ultrasonography, a process used to create an image of internal body structures such as blood vessel, tendons joint muscles, and internal organs to determine the primary source of disease conditions. However, there are certain limitations of the phased array ultrasonic transducer such as difficulty in processing and translating data and difficulty in achieving a good ultrasonic coupling due to the large size of probe dimension.
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Moreover, in 2018, according to the Reproductive Health Report published, obstetric ultrasound shows significant benefits due to its easy availability, accurate evidence of the cause of the disease after diagnostic procedures, and high utilization, efficiency, and low cost in low- and middle-income countries. These factors are expected to propel the growth of the global phased array ultrasonic transducer market.
The global phased array ultrasonic transducer market size is estimated to be valued around US$ 525.6 million in 2020 and is expected to register a CAGR of 4.80 % during the forecast period (2020-2027).
Impact of Coronavirus (COVID-19):
Since the outbreak of COVID-19 in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it a public health emergency. For instance, September 29, 2020, according to the World Health Organization’s report, the manifestation of the coronavirus (COVID-19) has resulted in over 33.4 million infected individuals globally.
Moreover, according to GE Healthcare, a leading U.S. company that manufactures and distributes medical devices, said that handheld ultrasonic transducers are more efficient, easier to manage, and even easier to use handheld ultrasonic transducers during testing Of COVID-19 patients rather than big medical imaging equipment as of April, 2020.
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Drivers:
Increasing cases of heart disease conditions globally including heart attacks and coronary artery diseases are resulting in rising demand for phased array ultrasonic transducers for medical ultrasonography. For instance, according to World Health Organization, in 2017, around 17.9 people died due to cardiovascular diseases globally and accounted for 31% of global deaths due to cardiovascular disease conditions.
Furthermore, North America is expected to witness significant growth in the global phase array ultrasonic transducer market due to rising number of cardiovascular cases. For instance, according to the Centers for Disease Control and Prevention Report published in 2020, around18.2 million adults of aged 30 years and above are suffering from coronary artery disease in the U.S.
Regional Analysis:
In North America, major companies are focused on novel product approvals and product launches to strengthen their position in the global phase array ultrasonic transducer market. For instance, in 2016, GE Healthcare, a manufacturer and distributor of diagnostic imaging agents and radiopharmaceuticals, received premarketing approval for LOGIQ V5 Expert, LOGIQ V5, and LOGIQ V3 from the U.S. Food Drug and Administration. LOGIQ V5 Expert, LOGIQ V5, and LOGIQ V3 are ultrasonic transducers with applications such as cardiac examination, breast, and abdominal examinations, peripheral vascular examination, and 3D imaging mode.
Europe phased array ultrasonic transducer market is expected to register significant growth over the forecast period, due to the increase in key companies in new product launches and product approvals. For instance, in 2018, Koninklijke Philips N.V, received approval for Philips EPIQ and Affiniti ultrasound system from the U.S. Food Drug and Administration and CE mark from European Union. Philips EPIQ and Affiniti ultrasound system can be used in elastography, combined screening, breast ultrasound screening, and precision biopsy.
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Market segmentation:
- By Type: Linear Array, Annular Array, and Circular Array.
- By Application: Cardiovascular, Neurological, Renal, Gynecology, Others.
- By End User: Hospitals, Specialty Clinics, Academic and Research Institutes, Others.
Key Players:
Key players dominating in the global phased array ultrasonic transducer market such as Koninklijke Philips N.V., GE Healthcare, B K Medical Systems Inc., SonoScape Medical Corp, Spacelabs Healthcare, Edan Instruments Inc, Mindray Medical International Limited, Samsung Healthcare, Esaote, FUJIFILM Medical Systems, Siemens Healthineers AG, Butterfly Network Inc., and Canon Medical Systems Corporation.
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Type
- Market Snippet, By Application
- Market Snippet, By End User
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Technological Evolution
- Regulatory Scenario
- Key Developments
- Collaboration and Acquisition
- Diagnosis Rate/Ratio
- Pipeline Analysis
- PEST Analysis
- Reimbursement Scenario
- Market Dynamics
- Global Phased Array Ultrasonic Transducer Market, Impact of COVID-19
- COVID19 Impact
- Economic Impact
- Demand and Supply Impact Analysis
- Global Phased Array Ultrasonic Transducer Market, By Type, 2016-2027 (US$ Mn)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017–2027
- Segment Trends
- Linear Array
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2027, (US$ Mn)
- Annular Array
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2027, (US$ Mn)
- Circular Array
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2027, (US$ Mn)
- Linear Array
- Introduction
- Global Phased Array Ultrasonic Transducer Market, By Application, 2016–2027 (US$ Mn)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017–2027
- Segment Trends
- Cardiovascular
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2027, (US$ Mn)
- Neurological
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2027, (US$ Mn)
- Renal
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2027, (US$ Mn)
- Gynecology
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2027, (US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2027, (US$ Mn)
- Cardiovascular
- Introduction
- Global Phased Array Ultrasonic Transducer Market, By End User, 2016–2027 (US$ Mn)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017–2027
- Segment Trends
- Hospitals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2027, (US$ Mn)
- Specialty Clinics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2027, (US$ Mn)
- Advance and Research Institutes
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2027, (US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016–2027, (US$ Mn)
- Hospitals
- Introduction
- Global Phased Array Ultrasonic Transducers, By Region, 2016–2027 (US$ Mn)
- Introduction
- Market Share Analysis, By Country, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, For Countries, 2017–2027
- North America
- Introduction
- Market Size and Forecast, By Type, 2016–2027 (US$ Mn)
- Market Size and Forecast, By Application, 2016–2027 (US$ Mn)
- Market Size and Forecast, By End User, 2016–2027 (US$ Mn)
- Market Size and Forecast, By Country, 2016–2027 (US$ Mn)
- U.S.
- Canada
- Latin America
- Introduction
- Market Size and Forecast, By Type, 2016–2027 (US$ Mn)
- Market Size and Forecast, By Application, 2016–2027 (US$ Mn)
- Market Size and Forecast, By End User, 2016–2027 (US$ Mn)
- Market Size and Forecast, By Country, 2016–2027 (US$ Mn)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Introduction
- Market Size and Forecast, By Type, 2016–2027 (US$ Mn)
- Market Size and Forecast, By Application, 2016–2027 (US$ Mn)
- Market Size and Forecast, By End User, 2016–2027 (US$ Mn)
- Market Size and Forecast, By Country, 2016–2027 (US$ Mn)
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, By Type, 2016–2027 (US$ Mn)
- Market Size and Forecast, By Application, 2016–2027 (US$ Mn)
- Market Size and Forecast, By End User, 2016–2027 (US$ Mn)
- Market Size and Forecast, By Country, 2016–2027 (US$ Mn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- Introduction
- Market Size and Forecast, By Type, 2016–2027 (US$ Mn)
- Market Size and Forecast, By Application, 2016–2027 (US$ Mn)
- Market Size and Forecast, By End User, 2016–2027 (US$ Mn)
- Market Size and Forecast, By Country, 2016–2027 (US$ Mn)
- GCC
- Israel
- Rest of Middle East
- Africa
- Introduction
- Market Size and Forecast, By Type, 2016–2027 (US$ Mn)
- Market Size and Forecast, By Application, 2016–2027 (US$ Mn)
- Market Size and Forecast, By End User, 2016–2027 (US$ Mn)
- Market Size and Forecast, By Country/Region, 2016–2027 (US$ Mn)
- South Africa
- Central Africa
- North Africa
- Introduction
- Competitive Landscape
- Company Profiles
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