Signify Premium Insight: Ultrasound’s Rapid Recovery

Events like the global coronavirus pandemic provide stern tests for the resiliency of any market. Among those areas which were able to demonstrate their mettle, was ultrasound, which, according to Mustafa Hassan, Signify Research Market Analyst, bounced back from the declines seen in 2020 far more quickly than anyone predicted.

“The assumption was that there would be no money to support the market in 2021, because so much spending had to be shifted towards Covid emergency funding. Especially in the United States, one of the biggest ultrasound markets.

“But, the market in the United States is recovering strongly and the increased business confidence means a full market recovery to 2019 revenue levels is forecast in 2021, whereas it was initially expected to happen in 2-3 years. What’s even more surprising is that providers are still finding the money for premium systems. The expectation was that providers would have to compromise and take more affordable systems but that hasn’t been the case.”