The U.S. ultrasound market generated revenues of $1.26 billion in 2003, and is expected to reach $1.89 billion by 2010, according to a new report from market research firm Frost & Sullivan. One of the primary drivers for increased ultrasound adoption is the availability of affordable systems such as hard-carried ultrasound (HCU) units, according to the San Jose, CA-based firm.
The HCU sector, the fastest-growing in the ultrasound market, is expected to grow at a compound annual growth rate (CAGR) of 19% to reach $330 million in revenues by 2010, Frost & Sullivan said. The attractive price performance, device size, and portability of HCU systems are rapidly expanding the installed base into various medical specialties, but the growing tendency of vendors to position the units as lower-cost replacements for more expensive cart-based systems could lower average selling prices and hamper overall ultrasound market revenues, the company said.
In other trends, demographic trends in the U.S. market are pushing procedure-volume growth, with the cardiology market most likely to reap the benefits, Frost & Sullivan said. The aging population will require higher ultrasound utilization to diagnose and treat aging-related problems, particularly heart disease.
Medicare reimbursement for echocardiography procedures is also rich compared with reimbursement for radiology and ob/gyn procedures, said research analyst Luke Liem. Real-time 3-D echocardiography and contrast perfusion imaging contribute to a pipeline of technological breakthroughs in cardiology ultrasound, and progressive adoption of these techniques will spark another cycle of upgrades and replacements, the company said.
By AuntMinnie.com staff writersFebruary 9, 2004
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