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The Covid-19 (corona virus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries, and many more.Trade barriers are further restraining the demand- supply outlook. As government of different regions have already announced total lockdown and temporarily shutdown of industries, the overall production process being adversely affected; thus, hinder the overall Pediatric Ultrasound globally. This report on ‘Pediatric Ultrasound’ provides the analysis on impact on Covid-19 on various business segments and country markets. The report also showcase market trends and forecast, factoring the impact of Covid -19 Situation.
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The major factors boosting the market growth include technological advancements in ultrasound systems (such as 4D imaging capabilities incorporated in Vivid E95 cardiovascular ultrasound system), increase in incidence of cardiac diseases, and rise in public and private investments, grants, & funds for the development of more advanced ultrasound devices. In addition, increasing number of ultrasound diagnostic imaging procedures, rising demand for minimal invasive therapies, and growing awareness for early disease diagnosis are expected to drive the demand for pediatric cardiac ultrasound. Conversely, lack of skilled and experienced sonographers or pediatric cardiologists worldwide restrains the market growth.
The adolescents segment accounted for the largest share of the market, and is anticipated to grow at a CAGR of 4.5% by the end of 2022. This is due to the inactive lifestyle and obesity, which causes acquired heart diseases in adolescents, thus resulting in high use of echocardiogram. An ultrasound procedure is generally preferred for children as there is no threat of exposure to ionizing radiation that may harm the tender body tissues (with repeated exposure) of infants.
Europe was the second leading market, generating a market share of 27.7%, due to the high adoption rate of advanced technologies for diagnosis in European nations and high rate of heart diseases among adolescents owing to smoking, obesity, and physical inactivity.
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The prominent players profiled in this report include Analogic Corporation, Esaote SpA, Fujifilm Corporation, General Electric Company, Hitachi, Ltd., Koninklijke Philips N.V., Mindray Medical International Limited, Samsung Medison Co. Ltd., and Siemens Healthcare.
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