Analysis of the U.S. Medical Ultrasound Imaging Systems Market
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1 MEDICAL DEVICES PHARMACEUTICALS CHEMICALS FOOD & BEVERAGE ELECTRONICS Analysis of the U.S. Medical Ultrasound Imaging Systems Market VPG Publications, Consulting, Clients VPG Market Research Reports VPG Partner Reports VENTURE PLANNING GROUP 545 Eighth Avenue, Suite 401 New York, NY Phone Fax info@vpgcorp.com
2 Analysis of the U.S. Medical Ultrasound Imaging Systems Market Growth to be Driven by Emerging Market Segments December 2011
3 Contents Section Slide Numbers Executive Summary 4 Market Overview 10 Total U.S. Medical Ultrasound Imaging Systems Market - Technology Background and Trends 19 External Challenges: Drivers and Restraints 30 Forecasts and Trends 38 Demand Analysis 48 Market Share and Competitive Analysis 51 U.S. Medical Ultrasound Imaging Systems Market: Analysis by Product Segment 59 U.S. Medical Ultrasound Imaging Systems Market: Analysis by Clinical Segment 76 The Last Word (Conclusions and Implications) 90 Appendix 95 3
4 Executive Summary 4
5 Executive Summary Total * revenue generated by sales of medical ultrasound imaging systems in the United States in 2010 was $x,xxx.x million, representing a x.x percent increase over Frost & Sullivan expects revenue in the U.S. medical ultrasound imaging systems market * to grow at a CAGR of x.x percent from 2010 to 2015, reaching $x,xxx.x million in New, general-purpose imaging systems accounted for xx.x percent of total * revenue generated by sales of medical ultrasound products and services for 2010 in the United States. Valued at $x,xxx.x million, the U.S. market accounted for xx.x percent of global revenue from sales of new, general-purpose medical ultrasound imaging systems and upgrades in As of the end of 2010, the proportion of current to potential installations of medical ultrasound imaging systems in the United States was xx.x percent. Competitors generating the highest revenues in the U.S. medical ultrasound imaging systems market * in 2010 were GE Healthcare, Philips Healthcare, SonoSite, Siemens Healthcare and Toshiba America Medical Systems. Together, these competitors contributed xx.x percent of total market revenue. Key : * Excludes services, upgrades, contrast media, IVUS and remarketed equipment 5
6 Executive Summary (continued) In 2010, competitors generating the highest revenue in the hand-carried product segment * of the U.S. medical ultrasound imaging systems market were SonoSite, GE Healthcare, ZONARE Medical Systems and Philips Healthcare. Together, these four competitors contributed xx.x percent of revenue in the hand-carried segment of the market. In 2010, xx.x percent of revenue in the U.S. medical ultrasound imaging systems market was generated by sales of hand-carried systems weighing xx lbs or less. In 2010, xx.x percent of revenue in the U.S. medical ultrasound imaging systems market were generated by sales of systems to the market s emerging clinical segments, including emergency medicine, anesthesia, intensive care, and musculoskeletal medicine. In terms of projected revenue growth, the emergency medicine, anesthesia, intensive care, musculoskeletal medicine, and hand-carried segments of the U.S. medical ultrasound imaging systems market are expected to be the fastest growing segments of the market from 2010 to Key : * Includes all systems weighing 14 lbs or less 6
7 Research Scope Product Inclusion The forecast in this study considers sales of new, general-purpose medical ultrasound imaging systems that are approved for human clinical use and commercially available within the indicated region. While included in some base year estimates, services and sales of upgrades, intravascular ultrasound (IVUS) imaging equipment, remarketed (i.e., pre-owned) imaging equipment, contrast media, dedicated veterinary or animal research equipment, and ultrasound-based diagnostic or therapeutic devices that do not produce images are not accounted for in this study s forecast. Regional Coverage Unless otherwise indicated, the estimates and forecast provided in this study only consider sales of products that are shipped to buyers within the United States. Time Period Study Period: Base Year: 2010 Forecast Period: CAGR Period:
8 Market Overview Definitions Unit Shipments Where unit shipment estimates and forecast are provided, a unit refers to a medical ultrasound imaging system that meets the criteria specified in the Research Scope slide of this research service. Unit shipment estimates and forecast only consider systems that are shipped for delivery as of the end of the year indicated. Thus, pre-shipment system sales and orders are not taken into account in unit shipment estimates or forecast. Unit Price and Weighted Average Selling Price (WASP) Selling price refers to the total purchase price of all equipment (i.e., main console, transducers, displays, data storage devices, and operating software) that is included at the original point of sale of a medical ultrasound imaging system. WASP estimates are weighted averages of estimated segment and/or competitor unit shipments for the year indicated. Revenue Revenue estimates are determined by calculating the product of unit shipments and WASP that is estimated or projected for the same year. 12
9 Market Overview Key Questions This Study Will Answer What proportion of U.S. medical ultrasound market revenue is generated by sales of general-purpose imaging systems, IVUS and remarketed imaging equipment, contrast media, and services? What proportion of global revenue from sales of new medical ultrasound imaging equipment is generated by each geographic region of the world? What was total revenue in the U.S. medical ultrasound imaging systems market in 2010, and how much is revenue in this market expected to grow from 2010 to 2015? What is the market penetration rate (i.e., current/potential system installations) of the U.S. medical ultrasound imaging systems market? Which competitors generate the highest proportion of revenue in the total U.S. medical ultrasound imaging systems market and in the hand-carried product segment? What proportion of revenue in the U.S. medical ultrasound imaging systems market is generated by sales of compact hand-carried imaging systems? What proportion of revenue in the U.S. medical ultrasound imaging systems market is generated by sales within emerging clinical areas of the market such as emergency medicine and anesthesia? Which segments of the U.S. medical ultrasound imaging systems market are expected to grow fastest over the next five years? 13
10 Market Background Medical ultrasound imaging equipment has been commercially available in the United States since the early 1960s. Ultrasound has become one of the most widely utilized medical imaging technologies in the United States, where it is currently used in over xxx million procedures each year. Despite the mature and well-established reputation of the medical ultrasound imaging equipment market, there is significant potential for growth in certain segments of the market due to the expanding range of clinical applications in ultrasound that is being enabled by new products and technologies. Source: National Institutes of Health (NIH) Historically, most users of medical ultrasound imaging equipment have been clinicians in the fields of radiology, cardiology, and obstetrics and gynecology (OB/GYN) that use ultrasound primarily for diagnostic purposes. Over the last decade, however, the use of ultrasound for image guidance during interventional procedures and for applications in non-traditional areas such as emergency medicine and anesthesiology has become increasingly common. 14
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