29 Mar GE Healthcare leads compact ultrasound market
Waukesha, Wis. – Fueled by the launch of a new laptop-sized ultrasound system, GE Healthcare became the world market share leader in the compact ultrasound industry in 2006, according to a recent industry report issued by Klein Biomedical Consultants.
Klein Biomedical, which tracks ultrasound market trends, reported that GE Healthcare has captured 43 percent of the compact ultrasound market, with annual sales of $174 million in 2006. The sales figure represents 74 percent growth compared to the prior year, and is almost double the 41 percent worldwide market growth for the compact ultrasound industry.
According to Harvey Klein, president of Klein Biomedical, GE Healthcare should solidify its top ranking in 2007 and hold it through the end of the forecast period in 2009.
If the company’s fourth quarter 2006 performance is any indication of future quarterly trends, it will far exceed its results from last year. GE, which has developed five compact ultrasound systems, including the portable laptop version, reported global compact ultrasound revenue of $67.8 million for the three months ending Dec. 31, 2006.
The compact ultrasound market is expected to top $1 billion by the year 2011.
GE Chairman and CEO Jeffrey R. Immelt attributed the company’s position to its willingness to invest in disruptive technologies that generate organic growth. Its strategy included migrating technology innovations across several ultrasound platforms and customizing ultrasound for specific care areas to bring the technology to more patients and clinicians worldwide. They include clinicians in remote regions that have limited medical facilities.
GE Healthcare is a $17 billion unit of General Electric Co. The medical device manufacturer has developed ultrasound products for four care areas: radiology, obstetrics and gynecology, cardiology, and emerging clinical uses in the emergency room and operating room.
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