Feature | May 30, 2014

U.S. Ultrasound Market Grows to All-time High in 2013

Klein report indicates 8 percent growth in radiology market despite declines in reimbursement and slow economic recovery

2013 Ultrasound Market Report Klein Biomedical Consultants Inc.

May 30, 2014 — According to The Medical Diagnostic Ultrasound Market in the USA: Challenges & Opportunities in the New Millennium, 2013 report, the U.S. ultrasound market grew almost 3 percent last year compared to 2012 to reach an all-time high of $1.44 billion. Authored by long-time U.S. ultrasound market analyst Harvey Klein, Ph.D., the report reflects double-digit growth in the point-of-care market, which was partially responsible for the rise in market revenues.

“In spite of the uncertainties caused by the Affordable Care Act, continued declines in reimbursement and slow economic growth, we saw an uptick in ultrasound purchases,” said Klein. “Musculoskeletal and critical care point-of-care markets showed outstanding growth. Radiology grew 8 percent, but the gain was somewhat offset by a decline in cardiology.”

Klein attributes the decline in cardiology partially to the late introduction of the Philips’ EPIQ system, which he considers to be the next wave of premium systems. The expectation of this launch stalled the market and shipments of the system were too late in the year to have a positive impact on the growth of the cardiology market. This decline was also reflected in GE stretching its share lead by several percentage points over Philips, the number two competitor in the overall U.S. market.

“We did not see a shift from premium systems to lower performance systems,” Klein said. “We did see further consolidation in the industry with the acquisition of Ultrasonix by Analogic and the purchase of ZONARE by Mindray. The combined shares of the top four companies were relatively unchanged year-over-year remaining at about 75 percent.”

Each of the three top selling products had revenue of over $100 million and all were in the premium category. The GE LOGIQ E9 radiology system became the number one selling product on the market in 2013.

The report is the 32nd annual report in the series. In it, Klein also predicts the U.S. ultrasound market will grow to $1.88 billion by 2018, representing an annual rate of growth of 5.8 percent.

Related Content

3-D Echo Image Analysis With Philips' HeartModel A.I. is Accurate and Reproducible
News | Cardiovascular Ultrasound| May 24, 2017
May 24, 2017 — Philips recently announced the results from a global study indicating that automated...
ASE Announces Meeting Highlights for 28th Annual Scientific Sessions
News | Cardiovascular Ultrasound| May 23, 2017
May 23, 2017 — The American Society of Echocardiography (ASE) will host its 28th Annual Scientific Sessions, June 2-6
News | Cardiovascular Ultrasound| May 15, 2017
Soundwaves LLC recently announced the diversification of its portable ultrasound services beyond obstetrics and...
Strain Imaging Improves Cardiac Surveillance of Certain Breast Cancer Patients
News | Cardio-oncology| May 03, 2017
Epsilon Imaging Inc. announced a research study using EchoInsight was presented at the American College of Cardiology (...
Philips Epiq cardiac ultrasound system includes automation based on artificial intelligence

The Philips Epiq cardiac ultrasound system includes automated measurements and anatomical identification based on an artificial intelligence algorithm. 

Feature | Cardiovascular Ultrasound| May 02, 2017 | Dave Fornell
Cardiac ultrasound technology is undergoing an automation technology transformation similar to that seen with compute
Conavi Medical Receives FDA Clearance for Feature Expansion on Foresight Intracardiac Echocardiography System
Technology | Ultrasound Intra-cardiac Echo (ICE)| May 01, 2017
Conavi Medical Inc. announced 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its Foresight ICE (...
Updated AATS Guidelines Help Cardiovascular Surgeons Navigate Challenges of Managing Ischemic Mitral Regurgitation
News | Heart Valve Technology| April 20, 2017
April 20, 2017 — Mitral regurgitation can occur in up to 50 percent of patients with ischemic heart disease and even

Physicians will need to use a CMS-certified appropriate use criteria (AUC) clinical decision support software that documents the appropriateness of an imaging order to receive full reimbursement for Medicare patients starting Jan. 1, 2018.

Feature | Cardiac Imaging| April 18, 2017 | Dave Fornell
As part of U.S. healthcare reform efforts, starting Jan.
Cardiovascular Institute of the South Upgrades Cardiac Ultrasound With New Toshiba Medical Systems
News | Cardiovascular Ultrasound| April 17, 2017
April 17, 2017 — To bolster its technology and treatment capabilities for coronary and peripheral artery diseases acr
ASE, EACVI, focused update document, aortic stenosis, AS, echocardiography, new classification scheme
News | Cardiovascular Ultrasound| April 03, 2017
The American Society of Echocardiography (ASE) and the European Association of Cardiovascular Imaging (EACVI) have...
Overlay Init