Chile Ultrasound Devices Industry Overview
The Chile ultrasound devices market size is expected to reach USD 192.3 million by 2028. The market is expected to expand at a CAGR of 2.3% from 2021 to 2028. The increasing prevalence of lifestyle-associated diseases and technological advancements are some of the major market players. Cancer affects a considerable portion of the Chilean population, with prostate cancer ranking 1 amongst others, the adoption of ultrasound devices in the diagnosis of cancer is expected to boost the market growth. Additionally, manufacturers are using new strategies that allow them to use their resources to help develop new products and improve their supply chain. For instance, In March 2021, GE Healthcare announced the launch of Vscan Air, new wireless, hand-held ultrasound device, it is about the size of an iPhone and connects to a smartphone app to read the ultrasound images.
Chile Ultrasound Devices Market Segmentation
Grand View Research has segmented the Chile ultrasound devices market based on product and portability:
Based on the Product Insights, the market is segmented into Therapeutic Ultrasound Devices, Diagnostic Imaging Ultrasound Devices.
- The diagnostic imaging ultrasound devices segment accounted for the largest market share of more than 60.0% in 2020. The segment is further sub-segmented into 2D, 3D/4D, and Doppler.
- It is a traditional ultrasound scanning, because of its widespread use in obstetrics, radiology, and oncology, whereas the 3D/4D ultrasound devices are expected to grow at the fastest rate owing to the short time required to complete fetal cardiac screening and diagnosis, improved detection of fetal abnormalities and less dependence on the operator’s skills in identifying fetal abnormalities.
- The 3D ultrasound in motion is 4D ultrasound technology. In addition, the growing demand for adopting technologically advanced products is expected to boost the market growth.
- The therapeutic ultrasound devices segment is anticipated to witness a CAGR of over 2.7% over the forecasted period. The segment is further sub-segmented into high-intensity focused ultrasound and extracorporeal shockwave lithotripsy.
Based on the Portability Insights, the market is segmented into Handheld Devices, Cart/Trolley Based Devices.
- The cart/trolley-based devices segment dominated the Chile ultrasound devices market and accounted for the largest revenue share of 55.0% in 2020.
- The biggest advantage of cart/trolley ultrasound device lies in time-saving which include booting time, transfer, and bedside positioning, by bringing the device to the patient’s location, whether it’s an Intensive Care Unit (ICU) or an emergency department, cart/trolley ultrasounds fully eliminate the difficulty of transferring vulnerable patients.
- The handheld devices segment is anticipated to witness the fastest growth over the forecast period, since there is an increase in the number of adoptions of handheld devices by ambulatory centers and home healthcare, and the patient flow is at a high level as the services are provided in a lower cost as compared to hospitals.
Key Companies Profile & Market Share Insights
With a significant number of manufacturers, the market is highly competitive. In order to acquire a significant share of the market, major companies are implementing various growth methods such as product differentiation approaches, new product development, financing, and international strategy.
Some prominent players in the Chile ultrasound devices market include
- Canon Medical Systems Corporation
- GE Healthcare
- Philips Healthcare
- Siemens Healthcare GmbH
- Hitachi Medical Corporation
- Samsung Medison
- Mindray Medical International Limited
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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