Ultrasonic Devices Market Size, Share & COVID-19 Impact Analysis | Global | 2020-2026 | MedCore | Includes: Ultrasonic Instruments & Generators
- Year: 2020
- Scope: 10 Years
- Region: Global
- Published Date: 09/21/2020
- Type: MedCore
The global ultrasonic devices market size is expected to reach over $1.4 billion by 2026, with the ultrasonic instrument market segment showing the highest growth. Currently, the majority of the global market share is controlled by Ethicon, Medtronic, and Olympus.
Since the 1990s, the clinical benefits of ultrasonic devices have been becoming more desirable to end-users and became the main driver of the global market over time. When compared to direct energy devices, ultrasonic energy offers the benefits of excellent hemostasis, efficient transection, minimal lateral thermal damage, low smoke generation, and no risk of electrical current passage to the patient.
Although ultrasonic devices are often advertised as safer alternatives to direct energy devices, the instrument tips are still prone to excess heating, due to the electromechanical vibrations that produce the ultrasonic energy. This heat poses a risk to the patient and might become a major market limiter which is analyzed in detail in this market study.
How is COVID-19 Impacting The Ultrasonic Device Market?
In 2020, the global ultrasonic devices market size saw a decrease of nearly 9% when compared to the valuation of $1.3 billion in 2019. The global market is expected to reach its pre-COVID level in late 2021 / early 2022 and fully recover.
This market analysis considered different rates of canceled/postponed elective surgeries between specialties and also by regions, estimated for the three-month peak of the pandemic. The lowest share of postponed elective surgeries is estimated in Africa at slightly over 60% of elective surgeries. However, the same cannot be said for the European, North American, Latin American, and Asia Pacific regions.
What Are The Top Ultrasonic Device Companies?
Currently, over 80% of the global ultrasonic device market share is controlled by Ethicon, Medtronic, and Olympus.
Ethicon leads the global market for ultrasonic devices, which directly competes with the direct energy devices market. The company continues to dominate the ultrasonic market with its HARMONIC® product line. This series of reposable devices has also allowed Ethicon to lead the reposable ultrasonic segment with the vast majority of share within multiple global regions.
Medtronic is the second-leading competitor in the global ultrasonic device market. The company introduced the Sonicision™ ultrasonic dissection device, which was the industry’s first cordless ultrasonic dissection device. While Ethicon dominates the ultrasonic market, Medtronic leads the direct energy device market with its LigaSure™ device and competes with Ethicon for their portion of the ultrasonic market.
Olympus is the third-leading competitor in the global ultrasonic device market. Olympus’ THUNDERBEAT™ device was designed to harness both bipolar and ultrasonic energy in one instrument, which allows it to transect and seal vessels at the same time. However, this innovative technology could not replace Medtronic’s LigaSure™ and Ethicon’s HARMONIC® products.
Top Ultrasonic Device Companies Analyzed
Market Segmentation Summary
This market research takes a look at the largest segments within the global ultrasonic device market and provides a forecast of the Units Sold, Average Selling Prices, Market Sizes, and more. The segments included are:
- Ultrasonic Generators Market | Global | 2020-2026
- Ultrasonic Instruments Market | Global | 2020-2026
Global Research Scope Summary
|Regions||North America (Canada, United States)
Latin America (Argentina, Brazil, Chile, Colombia, Mexico, Peru, Venezuela, and more)
Western Europe (Austria, Benelux, France, Germany, Italy, Portugal, Scandinavia, Spain, Switzerland, U.K., and more)
Central & Eastern Europe (Baltic States, Bulgaria, Croatia, Czech Republic, Greece, Hungary, Kazakhstan, Poland, Romania, Russia, Turkey, Ukraine, and more)
Middle East (Bahrain, Iran, Israel, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates, and more)
Asia Pacific (Australia, Cambodia, China, Hong Kong, India, Indonesia, Japan, Malaysia, Myanmar, New Zealand, Philippines, Singapore, South Korea, Taiwan, Thailand, Vietnam, and more)
Africa (Algeria, Egypt, Ghana, Kenya, Libya, Morocco, Nigeria, South Africa, Sudan, Uganda, and more)
|Quantitative Coverage||Market Size, Market Shares, Market Forecasts, Market Growth Rates, Units Sold, and Average Selling Prices.|
|Qualitative Coverage||COVID19 Impact, Market Growth Trends, Market Limiters, Competitive Analysis & SWOT for Top Competitors, Mergers & Acquisitions, Company Profiles, Product Portfolios, FDA Recalls, Clinical Trials, Disruptive Technologies, Disease Overviews.|
|Data Sources||Primary Interviews with Industry Leaders, Government Physician Data, Regulatory Data, Hospital Private Data, Import & Export Data, iData Research Internal Database.|
CONTACT US FOR ADDITIONAL INFORMATION
For full segmentation and any questions regarding research coverage, please contact us for a Complimentary Demo of the full report or a Report Sample.
Top Ultrasonic Device Companies Analyzed
iData’s 9-Step Research MethodologyOur reports follow an in-depth 9-step methodology which focuses on the following research systems:
- Original primary research that consists of the most up-to-date market data
- Strong foundation of quantitative and qualitative research
- Focused on the needs and strategic challenges of the industry participants
Step 1: Project Initiation & Team Selection During this preliminary investigation, all staff members involved in the industry discusses the topic in detail.
Step 2: Prepare Data Systems and Perform Secondary Research The first task of the research team is to prepare for the data collection process: Filing systems and relational databases are developed as needed.
Step 3: Preparation for Interviews & Questionnaire Design The core of all iData research reports is primary market research. Interviews with industry insiders represent the single most reliable way to obtain accurate, current data about market conditions, trends, threats and opportunities.
Step 4: Performing Primary Research At this stage, interviews are performed using contacts and information acquired in the secondary research phase.
Step 5: Research Analysis: Establishing Baseline Estimates Following the completion of the primary research phase, the collected information must be synthesized into an accurate view of the market status. The most important question is the current state of the market.
Step 6: Market Forecast and Analysis iData Research uses a proprietary method to combine statistical data and opinions of industry experts to forecast future market values.
Step 7: Identify Strategic Opportunities iData analysts identify in broad terms why some companies are gaining or losing share within a given market segment.
Step 8: Final Review and Market Release An integral part of the iData research methodology is a built-in philosophy of quality control and continuing improvement is integral to the iData philosophy.
Step 9: Customer Feedback and Market Monitoring iData philosophy of continuous improvement requires that reports and consulting projects be monitored after release for customer feedback and market accuracy.