Market Size of Teleultrasound System Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.01 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Teleultrasound System Market Analysis
The teleultrasound system market is expected to register a CAGR of 6% during the forecast period.
- The emergence of COVID-19 significantly impacted the market growth. During the initial phase of the pandemic, video consultations became more popular to reduce the number of hospital visits and avoid the risk of infection. Teleultrasound (TUS) gained traction during that time due to its advanced application for disease diagnosis.
- As per an article published in June 2022 in the Journal of Ultrasound in Medicine and Biology, ultrasound played a crucial role in emergency triage and provided clear benefits in identifying COVID-19 pneumonia for specific patient populations, including expectant mothers, children, and immobile patients. Hence, the TUS gained demand, and the application of TUS increased over time.
- As per the source above, TUS was incorporated as an obvious step to improve the capabilities of telehealth (TH) during the COVID-19 period, as TUS is an advanced technology with diagnostic precision and image quality comparable to regular ultrasound exams. Hence, the pandemic had a considerably positive impact on the studied market and is expected to continue its strong hold over the forecast period.
- Factors such as the introduction of technologically advanced diagnostics, increasing prevalence of target diseases, and growing geriatric population base are expected to contribute to the market growth over the forecast period.
- The growth of the studied market is attributed to the increasing prevalence of target diseases such as cancer and cardiovascular diseases. For instance, according to the "UK Factsheet" published by the British Heart Foundation (BHF) in August 2022, there are around 7.6 million people in the country who suffer from heart and circulatory disorders, with almost 4 million men and 3.6 million women. Patients with heart and circulatory diseases, which are extremely common, drive demand for new diagnostic options. As telehealth has grown in popularity in recent years, it is projected that the incidence of diseases will open up new opportunities for the market under study and accelerate market expansion.
- Moreover, the increasing availability of technologically advanced products and other strategic activities by the major players is also boosting the market studied. For instance, in March 2022, GE Healthcare strategically invested USD 50 million in Pulsenmore Ltd and entered the homecare segment through Pulsenmore's handheld TUS device that docks with a smartphone, allowing women to perform ultrasound self-scans at home and receive fast clinical feedback from healthcare professionals. Such developments are anticipated to drive market growth during the forecast period.
- However, the lack of skilled professionals and data security and privacy concerns are likely to hamper the market growth over the forecast period.
Teleultrasound System Industry Segmentation
As per the scope of the report, teleultrasound (TUS) is a specific type of telemedicine that uses technological advances to interpret ultrasound images remotely.
The teleultrasound system market is segmented by type (traditional teleultrasound and real-time teleultrasound), end user (hospitals and clinics, ambulatory surgical centers, and other end users), and geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally.
The report offers the value (in USD million) for the above segments.
| By Type | |
| Traditional teleultrasound | |
| Real-Time Teleultrasound |
| By End User | |
| Hospitals and Clinics | |
| Ambulatory Surgical Centers | |
| Other End Users |
| Geography | ||||||||
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Teleultrasound System Market Size Summary
The teleultrasound system market is poised for significant growth, driven by the increasing adoption of advanced diagnostic technologies and the rising prevalence of chronic diseases such as cancer and cardiovascular conditions. The COVID-19 pandemic played a pivotal role in accelerating the market's expansion, as teleultrasound systems became integral to telehealth solutions, offering diagnostic precision and image quality comparable to traditional ultrasound exams. The market's growth is further supported by the growing geriatric population and the introduction of innovative products that enhance diagnostic capabilities. Strategic investments and developments by major players, such as GE Healthcare's entry into the homecare segment, are expected to bolster market expansion. However, challenges such as a shortage of skilled professionals and concerns regarding data security and privacy may impede growth.
North America is expected to maintain a dominant position in the teleultrasound system market, driven by the high incidence of chronic diseases and the availability of technologically advanced products. The region's market growth is fueled by the increasing burden of cancer, which necessitates enhanced screening solutions, including teleultrasound systems. The adoption of these systems by hospitals and clinics, along with advancements in telemedicine software, is anticipated to contribute to regional market growth. The competitive landscape is characterized by the presence of major players like Koninklijke Philips N.V, Remote Medical Technologies, LLC, and others, who are actively expanding their offerings and capabilities. These developments underscore the market's potential for continued growth and innovation in the coming years.
Teleultrasound System Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Introduction of Technologically Advanced Diagnostics
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1.2.2 Increasing Prevalence of Target Diseases
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1.2.3 Growing Base of Geriatric Population
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1.3 Market Restraints
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1.3.1 Lack of Skilled Professionals
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1.3.2 Lack of Data Security and Privacy Concerns
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Type
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2.1.1 Traditional teleultrasound
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2.1.2 Real-Time Teleultrasound
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2.2 By End User
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2.2.1 Hospitals and Clinics
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2.2.2 Ambulatory Surgical Centers
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2.2.3 Other End Users
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Teleultrasound System Market Size FAQs
What is the current Teleultrasound System Market size?
The Teleultrasound System Market is projected to register a CAGR of 6.01% during the forecast period (2024-2029)
Who are the key players in Teleultrasound System Market?
Koninklijke Philips N.V, Remote Medical Technologies, LLC, Robo Medical, AdEchoTech and T-MedRobotics are the major companies operating in the Teleultrasound System Market.
