Fact.MR has released its wireless handheld ultrasound devices industry report, according to which, the market expanded at over 14.5% CAGR during 2016 – 2020 and reached a market valuation of US$ 549 Mn. This detailed research has estimated a growth rate of 16% CAGR over the next ten years, generating US$ 2.2 Bn absolute dollar opportunity over the same period. North American countries are anticipated to open up larger opportunities for wireless handheld ultrasound device manufacturers as well as suppliers over the decade.
The offer in this portion accompanies many open doors including fabricating items, appropriation, retail, and showcasing administrations. Broad rounds of essential and far reaching optional exploration have been utilized by the examiners at Fact.MR to show up at different assessments and projections for Demand of Wireless Handheld Ultrasound Devices Market both at worldwide and provincial levels.
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Key Points Covered in Wireless Handheld Ultrasound Devices Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- COVID-19 Impact on Market and How to Navigate
- Recommendation on Key Winning Strategies
Key partners in Market including industry players, policymakers, and financial backers in different nations have been persistently realigning their systems and ways to deal with carry out them to take advantage of new open doors. Numerous lately have updated their procedures to stay coordinated in the setting of overall disturbances brought about by the COVID-19 pandemic.
Competitive Analysis
Tier 1 manufacturers of wireless handheld ultrasound devices – Hologic, Siemens Healthineers AG, and Lepu Medical Technology – accounted for 46% market share in 2020. However, tier-2 and 3 are significantly fragmented, wherein, 20 companies together account for around 54% share of the global market.
Market share of tier-2 and 3 players is expected to increase during the forecast period as regional players are looking to expand their footprint into international markets.
Competition Characteristics
- While tier-1 players have been constantly focusing on enhancing their existing offerings to retain their share, tier-2 players are targeting expansion of their global footprint.
- Tier-3 players, on the other hand, have been focusing on retaining their limited presence and safeguarding their position from international players as well as domestic companies having significant regional presence.
- Experts suggests that Siemens, a market leader in wireless handheld ultrasound devices, is planning to divest its ultrasound division. However, it remains officially unconfirmed.
- Competition is expected to increase in both, developed as well as developing countries, as tier-2 companies are focusing on targeting small end users as their customers in the international market, whereas international companies are further imparting their efforts to reach out to micro markets.
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