Platform as a Service Market Analysis by Size and Share to Exceed $ 193.3 Billion by 2030, At a CAGR 15.1%

Posted January 23, 2023 by shitalt

The Platform as a Service Market is projected to reach $193.3 billion by 2030, at a CAGR of 15.1% from 2023 to 2030.
The rising prevalence of cardiovascular and abdominal disorders, technological developments in ultrasound, growing incidences of orthopedic injuries and musculoskeletal disorders, the rising geriatric population, and the increasing number of hospitals are the factors contributing to the growth of this market. Additionally, the emergence of POC ultrasound devices and emerging economies are expected to offer significant growth opportunities for the players operating in the ultrasound transducers market.

The Ultrasound Transducers Market is projected to reach $5.50 billion by 2030, at a CAGR of 5.4% from 2023 to 2030.

COVID-19 Pandemic Impact on the Ultrasound Transducers Market

During the COVID-19 pandemic, imaging procedures were the essential component of care for patients with symptoms. Besides computed tomography (CT) and X-ray imaging, lung ultrasound (LUS) has become an emerging tool for assessing COVID-19 patients. LUS was used at the bedside as point-of-care ultrasound (PoCUS).

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Hence it was possible to examine the emergency department. Care against contamination was the main priority during the examination in healthcare settings. In such a case, the wireless ultrasound probe and the portable console were in a sterile cover. Subsequently, the probe and the console were disinfected and again put in a sterile cover after use.

The utility of lung ultrasound in COVID-19 involved many factors, including the patient’s clinical presentation, the provider’s practice environment, their access to resources & testing, expertise, experience, current epidemiological trends, healthcare system capacity, and infection transmission risk. Also, computer vision software, artificial intelligence, computer automation and quantification, telemedicine and other methods were researched and developed to study lung ultrasound optimization within and beyond the SARS-CoV-2 pandemic.

Hence, the pleural and lung ultrasound were the alternative diagnostic test to assess the degree of involvement of the lung parenchyma by evaluating specific ultrasound patterns, identification of pleural effusions, and barotrauma.

However, due to the global focus on preventing the spread of COVID-19 infections, the use of ultrasound for other applications declined to some extent as patients were restricted in healthcare settings. But, post-pandemic, the demand for ultrasound procedures reached pre-pandemic levels as all the treatments and diagnoses resumed.

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Topography Analysis:

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, and RoAPAC), Latin America (Brazil, Mexico, and RoLATAM), and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the ultrasound transducers market, followed by Europe and Asia-Pacific.

High demand for minimally invasive surgery, high incidence of chronic and lifestyle-related disorders, and technological advancements in ultrasound technology are the major factors responsible for the largest share of the region.

Key Players
The key players operating in the ultrasound transducers market are GE Healthcare (U.S.), Seimens Healthineers AG (Germany), Koninklijke Philips N.V. (Netherlands), FUJIFILM Sonosite, Inc. (U.S.), Canon Medical Systems Corporation (Japan), Hitachi Medical Corporation (Japan), Samsung Medison Co., Ltd. (South Korea), Esaote SpA (Italy), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Carestream Health, Inc (U.S.), and ALPINION MEDICAL SYSTEMS Co., Ltd. (South Korea).

Scope of the Report:

Ultrasound Transducers Market, by Product

Phased array
CW Doppler
Other Products
Ultrasound Transducers Market, by Application

Diagnostic Applications
General Imaging
Orthopedic & Musculoskeletal
Obstetrics and Gynaecology (OB-GYN)
Other Applications
Therapeutic Applications
Ultrasound Transducers Market, by End User

Hospitals & Clinics
Diagnostic Imaging Centers
Ambulatory Surgical Centers
Other End Users
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Key questions answered in the report-

Which are the high-growth market segments in terms of product, application, end user, and geography?
What was the historical market for ultrasound transducers across the globe?
What are the market forecasts and estimates for the period 2023–2030?
What are the major drivers, restraints, opportunities, and challenges in the ultrasound transducers market?

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Issued By Shital Thakare
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Categories Blogging
Tags platform as a service market
Last Updated January 23, 2023