Ultrasound consulting firm Klein Biomedical Consultants (KBC) of New York City has ranked Philips Medical Systems as the market leader of the overall U.S. diagnostic ultrasound market. Philips held a 26% market share in 2005, and had an annual growth rate of 12%, according to KBC and the Andover, MA-based firm.
Philips grew its market share by 2% in a flat radiology marketplace, and grew revenues by 10% in cardiology, according to KBC. In cardiology, Philips regained its top market position with a 35% share of total sales.
Philips attributed most of its growth in 2005 to the introduction of four new systems in less than two years: iE33, iU22, HD11, and HD3.
By AuntMinnie.com staff writers
May 17, 2006
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