The Business Research Company’s Ultrasound Devices And Equipment Global Market Report 2020-30: COVID-19 Impact and Recovery
LONDON, GREATER LONDON, UK, January 27, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Safety and effectiveness of ultrasound system devices and equipment is heavily monitored and regulated across the world. In 2018, the Indian Government decided to thoroughly monitor these devices as they were being imported to India without much registration protocol. In order to ensure the efficiency & safety of ultrasound system devices and prevent the abuse of these devices in the ultrasound imaging market for sex selection, the Drug Technical Advisory Board (DTAB) has included these devices in the medical devices category and now monitor and regulate import, manufacture, distribution and sale of these devices. An additional permission to be taken from Central Drugs Standard Control Organization (CDSCO) is required by the manufacturers of ultrasound system devices. These stringent regulatory policies may impact the ultrasound devices market in India, one of the fastest growing market.
The global ultrasound devices and equipment market was expected to decline from $9.7 billion in 2019 to $7.8 billion in 2020 at a compound annual growth rate (CAGR) of -19.7%. The decline was mainly due to the COVID-19 outbreak and the measures to contain it. The governments across the countries prioritized COVID-19 screening and imaging is not routinely used to screen for COVID-19. Also, most of the factories manufacturing diagnostic imaging equipment such as X-ray systems, ultrasound systems, computed tomography (CT) scanners, and MRI systems and/or their components were shut down in order to keep the staff safe and contain the spread. The ultrasound equipment market is expected to recover and grow at a CAGR of 4.8% from 2021 and reach $11.7 billion in 2023.
Ultrasound systems are used in applications such as radiology/general imaging, orthopedic, cardiology, obstetrics/gynecology, vascular, urology, and other applications (breast imaging, hematology, anesthesiology, and emergency care).
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