ACC2: GE Becomes World Market Share Leader in Compact Ultrasound
GE Healthcare became the world market share leader in the compact ultrasound industry in 2006, as cited in a recent industry report issued by Klein Biomedical Consultants, an internationally recognized source of ultrasound market and trends. GE was the market leader with a 43 percent share, according to the report.
GE announced the company's global Compact Ultrasound business grew sales to $174 million in 2006, which represents 74 percent growth compared to the prior year. This growth surpasses the 41 percent worldwide market growth for the compact ultrasound industry in 2006, as cited in the Klein report.
Harvey Klein, president of Klein Biomedical, stated in the report, "GE is expected to move up into the undisputed worldwide market leadership position in the year 2007 and should remain in this position through the end of the forecast period (2009)."
GE culminated its performance in 2006 with worldwide compact ultrasound
revenue for the fourth quarter of $67.8 million. GE's fourth quarter revenue was significantly higher than competitors in this compact ultrasound arena.
"Our success with compact ultrasound is a testament to GE's ability to invest in game-changing, disruptive technologies that continue to generate organic growth," said GE Chairman and CEO Jeffrey R. Immelt. "Our engineering research across ultrasound product lines can continue to bring rapid innovation. I am proud of GE's commitment to investing in technologies that help change the way healthcare is delivered to patients."
"Moving into the number one position and leading the way globally shows our commitment to growing compact ultrasound," said Omar Ishrak, president and CEO of GE Healthcare's Clinical Systems business unit. "We cultivated growth by migrating our engineering innovations across multiple ultrasound platforms and developing specialized sales teams. Our strategy in customizing ultrasound for specific care areas is bringing breakthrough technologies to more patients and clinicians worldwide."
Ishrak said, "We expect our sales growth to continue through 2007. With the full year's benefit of last year's product launches, our compact
ultrasound product portfolio is robust and continuing to gain strength.
More launches are forthcoming, and the healthcare industry can expect
more from GE in the compact ultrasound arena."