ThirdBridge: Investing in the Ultrasound Market
Client Objective
A global investment firm sought insights into the diagnostic imaging market, focusing on ultrasound, to guide its investment strategy.
They required an expert’s perspective on market trends, competitive dynamics, and growth opportunities in the U.S. and Europe.
Key Insights Delivered
Market Trends in the U.S.
The U.S. ultrasound market is projected to grow from $10B in 2024 to $17B by 2032 (CAGR: 7.3%). Key drivers include advancements in 3D/4D imaging, portable point-of-care devices, and the rising prevalence of chronic diseases. AI-powered solutions are further transforming the market by improving diagnostic accuracy and workflow efficiency.
Market Fragmentation
Both the U.S. and European ultrasound markets are moderately fragmented, with dominant players like GE Healthcare, Siemens Healthineers, and Philips holding significant shares. Smaller companies contribute to innovation and competition, creating a dynamic and evolving market landscape.
Market Trends in Europe
The European ultrasound market is set to grow from $2.67B in 2024 to $3.46B by 2029 (CAGR: 5.29%). Growth is driven by innovation, a focus on preventive healthcare, and government initiatives supporting diagnostic imaging. However, the market expansion is slightly slower than in the U.S. due to regional economic constraints.
Expertise and Vendor Familiarity
The advisor brought over 20 years of experience in diagnostic imaging across ultrasound, MRI, CT, and X-ray. With expertise in commercial operations, product development, engineering, and supply chain management at GE Healthcare and Canon, they provided a nuanced understanding of the market.
Final Recommendations
Investment Focus on U.S. Market
The U.S. market offers greater growth potential, driven by rapid technology adoption, especially in portable devices and AI-integrated solutions.
Leverage European Government Initiatives
In Europe, investment strategies should align with public health initiatives promoting early diagnosis and preventive care, while emphasizing cost-effective solutions to address budget constraints in public healthcare.
Partnerships and Acquisitions
Target partnerships or acquisitions with innovative smaller players to gain competitive advantages in both regions.
Technological Advancements
Align pricing models with customer demand for cost-effective, high-performance solutions, particularly in emerging markets.
Leverage Emerging Technologies
Prioritize investments in 3D/4D imaging, AI-powered systems, and portable devices, which are shaping the future of the ultrasound market.
Key Client Outcome(s)
Aperio Consulting’s insights provided ThirdBridge with a clear understanding of the ultrasound market’s dynamics, growth drivers, and competitive landscape.
By leveraging these insights, the firm can confidently make strategic investment decisions that align with market trends and capitalize on emerging opportunities in the diagnostic imaging space.
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