This Teleultrasound Systems market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Teleultrasound Systems market.
WHO defined telemedicine as the delivery of health care services, where distance is a critical factor. Lack of qualified doctors and technicians has led to the development of a new type of telemedicine device, i.e., teleultrasound. It permits ultrasound examinations to be performed remotely. Teleultrasound has evolved over the past decade incrementally, with regard to technology.
Philips recently launched its teleultrasound system, Lumify, in March 2018. Lumify is designed to work with compatible smart devices. The product was developed through a collaboration with Innovative Imaging Technologies. The advancements in technology in the area and launch of new devices make teleultrasound an interesting market that is set to rapidly grow in the near future. Some of the other products include iMedHD2 by Remote Medical Technologies, and portable 3D ultrasound by Zycorlabs. Some of the other companies that offer teleultrasound systems include AdEchoTech, Robo Medical, T-MedRobotics, and others.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Dynamics of the Teleultrasound Systems Market
The lack of skilled labor that include doctors and technicians in remote areas of developing and third world countries demand the need for telemedicine to cater to the medical needs of these areas. Furthermore, the need for such systems in emergency medicine so as to address the patients within the golden one hour trauma also fuels the growth of the market. However, the image quality and lag in the image transfer are some drawbacks of the system that may hinder the market growth slightly. New developments such as the real time teleultrasound systems such as the recently launched Lumify that uses satellite to transfer the image to the destination real time.
Teleultrasound in Hospitals
Many a times, especially in remote areas where hospitals are not easily accessible, teleultrasound resolves the issue. It ensures easy access to consultations without the risk involved in travelling the large distances. For instance, remote areas in third world countries can access medical consultation at their local health center even if the center does not have a medical expert in the region. The remote access to the ultrasound images could be accessed by the experts across the globe.
Teleultrasound in Obstetrical Applications
Ultrasound is the well suited mode for the assessment of fetal problems since it is the safest mode due to the lack of exposure to ionizing radiation. However, geographically isolated patients may have limited access to ultrasound. Telemedicine is a suitable that may address this problem. Furthermore, teleultrasound also eliminates the need for unnecessary travel and associated risks
Teleultrasound System Market Assessment by Method Type
Regional Market Outlook
Remote areas and third world countries may not have readily available lifesaving consultations. Teleultrasound has the largest scope for market growth in these regions. For an instance teleultrasound via WhatsApp has enabled remote consultation in Nigeria since 2015. A large number of emerging companies are aiming to develop advanced technologies in the teleultrasound domain.
Examples of some of the key participants of the global teleultrasound systems market are as follows:
- Robo Medical
- Remote Medical Technologies
- Shenzhen ROBO Medical Technology Co., Ltd
- Philips Healthcare
Key Data Points Covered in Report
The report covers exhaustive analysis on:
- Teleultrasound System by Product Type, Distribution Channel and Region
- Regional level market analysis of North America, Latin America, Europe, Asia Pacific, China & Middle East & Africa by Product Type, Distribution Channel and Country
- Teleultrasound System Market Dynamics & Opportunity Assessment
- Historical Market Size, 2013 - 2017
- Teleultrasound System Market Size & Forecast 2018 - 2026
- Teleultrasound System Current Trends/Opportunities/Challenges
- Competition & Key Companies involved
FMI utilizes a triangulation methodology that is primarily based on experimental techniques such as patient-level data, number of procedures and capital equipment install base to obtain precise market estimations and insights on various medical devices and medical technology. Bottom-up approach is always used to obtain insightful data for the specific country/regions. The country-specific data is again analysed to derive data at a global level. This methodology ensures high quality and accuracy of information.
Secondary research is used at the initial phase to identify the feasibility of the target products/technology categories and its respective segments, product offerings, usage pattern as per disease indications, product installed base in target healthcare facilities, life span of a device, reimbursement scenario, adoption rate and future impact of new technologies.
Each piece of information is eventually analysed during the entire research project, which builds a strong base for the primary research information.
Primary research participants include demand-side users such as key opinion leaders, physicians, surgeons, and supply-side providers of medical devices who provide valuable insights on trends, key treatment patterns, adoption rate, and purchasing pattern, technological development of medical devices, patient education, effectiveness of manufacturers and important strategies, pricing and competitive dynamics.
Quantitative and qualitative assessment of basic factors driving demand, economic factors/cycles and growth rates and strategies utilized by key players in the market are analysed in detail while forecasting, in order to project Year-on-Year growth rates. These Y-o-Y growth projections are checked and aligned as per industry/product lifecycle and further utilized to develop market numbers at a holistic level.
On the other hand, we also analyse various annual reports, investor presentations, SEC filings, 10k reports and press release operating in this market segment to fetch substantial information about the market size, trends, opportunity, drivers, and restraints to analyse key players and their market shares. Key companies are segmented at Tier level based on their revenues, product portfolio and presence.
Please note that these are the partial steps that are being followed while developing the market size. Besides this, forecasting will be done based on our internal proprietary model which also uses different macro-economic factors such as per capita healthcare expenditure, disposable income, industry based demand driving factors impacting the market and its forecast trends apart from disease related factors.
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By Method Type
- Traditional Teleultrasound
- Real time Teleultrasound
By End user
- Hospitals & Clinics
- Emergency and Ambulatory service providers
- North America
- Western Europe
- Eastern Europe
- Latin America
- Asia Pacific
- Middle East & Africa
- Shifting industry dynamics
- In-depth market segmentation
- Key Competition landscape, Market Structure and Regulatory Scenario
- Disease Epidemiology Outlook
- Regional healthcare outlook, Per-Capita Healthcare Expenditure
- Availability of Sterile Eye Irrigation Solutions and other eye solutions
- key players and product offerings, Sales, Marketing and Channel strategies,
Regional and Channel Foot print
- A neutral perspective towards market performance in terms of Market value and volume units
Frequently Asked Questions
Why choose FMI?
- With a global presence and a trusted partner to several Fortune 500 firms, FMI covers 1 billion+ data points to build a diversified portfolio for market benchmarking
- Market Reports researched and peer reviewed by industry experts from across the globe
- We follow a multi-dimensional method of analysis monitoring a three-layer data validation process
- In addition to demand-side market assessment, our data triangulation methodology involves supply-side research
- Primary research includes mandatory field interviews with stakeholders involved
- Customizing reports according to client specification is also our forte
What will you discover from Teleultrasound Systems Market report?
- The current and future market size, covering each aspect and nuanced trends across key national and geographic markets
- An overview of the market report, providing an imperative visual of the varied market subdivisions and overall forecast statistics in terms of value and volume
- Extensive database and key dynamics elevating the market with varied verticals associated
- Underlying Teleultrasound Systems Market forces that are compelling consumers or businesses to purchase the product
- How novel technologies and consumer-centric innovations will create new value-adding opportunities for companies active in the Teleultrasound Systems Market
- What will be environment and regulatory impacts on the market over the next decade
Which framework has been used to develop the Teleultrasound Systems Market report?
- Investment Feasibility Matrix - It shows returns on investment, level of competition, success rate of investment, and potential risks associated with the market. The analysis shows that the competition is high in the established market, while the returns for short-term investment are also taken into consideration
- Relative Maturity Mapping – The relative maturity is measured according to three growth phases (growth, maturity, decline)
- Relative PLC (Product Life Cycle) – Analysis of the emergence of prominent players and competitive test prices which are driving factors behind every market. (expected market behavior, observed market behavior, expected market performance, observed market performance)