Artificial Intelligence
Rapid Adoption of Low-Intensity Ultrasound Therapy in Various Medical Specialties to Fuel Revenue Growth of the Ultrasound Market: Reports and Data
Reports and Data has recently published its latest report titled “Ultrasound Market By Device Display (Color Ultrasound Devices, Black & White Ultrasound Devices), By Product (Diagnostic, Therapeutic), By Portability (Trolley/Cart, Compact/Handheld, Point-of-care), By Application, By End-use, And By Region Forecast To 2028.”
According to the latest report by Reports and Data, the global ultrasound market size was USD 6,168.2 million in 2020 and is expected to reach USD 9,453.8 million in 2028 and register a revenue CAGR of 5.40% during the forecast period, 2021-2028.
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Drivers, Restraints, and Opportunities
Ultrasound is a non-invasive diagnostic technique that leverages high-energy sound waves to visualize tissue and organs within the body. Ultrasound has revolutionized medical imaging by offering a robust combination of portability, low cost, and convenient usage, and this has made ultrasound imaging an indispensable tool in radiology owing to efficiency to obtain more accurate imaging and enable diagnosis or more efficiently guide a therapeutic intervention. Over the past few decades, the number of ultrasound procedures have increased substantially and technological advancements such smart transducer design and smaller size or miniaturization of devices, lower cost, and novel data processing software have further contributed to its increased adoption. Increasing use of ultrasound both as imaging and therapeutic modality, rising prevalence of chronic diseases and growing awareness regarding benefits of early diagnosis and detection, and increasing application of ultrasound in acute pain medicine are key factors expected to continue to drive market revenue growth over the forecast period.
Ultrasound examination is a widely used technique to confirm the diagnosis of chronic diseases owing to its excellent ability of deep penetration into soft tissue in combination with high spatial resolution. Real-time imaging enables physicians to effectively guide therapeutic procedures and biopsies, which enables better accuracy when deploying procedures. Medical ultrasound is generally the primarily preferred imaging modality owing to cost effectiveness and lack of use of ionizing radiation. Ultrasound waves are produced by the transducer that can both, emit and detect the ultrasound waves and echoes, which generate electric signals that are then sent to the ultrasound scanner. Depending on the speed of sound and time of return of ultrasound echo, the distance between transducer and tissue boundary is calculated by the scanner to generate 2D images of tissues and organs. Ultrasound gel prevents the formation of air pockets between the skin and transducer, which can block ultrasound waves from passing into the body. Diagnostic ultrasound is widely used to obtain pictures/imaging of internal organs and tissue to diagnose causes of pain, swelling and infection, and to examine and assess the growth and development of fetus in pregnant women. Over the recent past, advancements in imaging modalities have expanded applications areas of ultrasound from diagnostics to explore alternative therapies. Ultrasound has been rapidly incorporated in acute pain medicine, regional anesthesia, and interventional pain medicine. This can be attributed to increasing ability to view the targeted structure and visualize distribution of injected medication with a capacity to control its distribution by readjusting position, which further improves accuracy of this procedure. This is expected to further drive market growth over the forecast period.
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However, high costs associated with maintenance of ultrasound systems, increasing number of product recalls, budget constraints in certain diagnostic centers across the globe, and lack of skilled radiologists and professionals are some key factors expected to hamper market growth to a certain extent over the forecast period. In addition, rising concerns regarding therapeutic applications of ultrasound and limitations of ultrasound in examining certain areas can potentially limit its adoption. The application of contrast agents can, however, overcome these limitations and has expanded its application in unfeasible areas such as molecular imaging and drug delivery and this is expected to open up lucrative opportunities in the market over the coming years.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
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Color Ultrasound Devices to Account for Largest Revenue Share:
Color ultrasound devices segment to account for largest revenue share over the forecast period attributable to increasing adoption of color sonography systems owing to its enhanced ability to offer high-resolution images that helps in detection of problems with blood circulation and disease indications.
Compact/Handheld Segment to Register Robust Revenue CAGR:
Compact/handled segment is expected to register robust revenue CAGR over the forecast period owing to increasing availability of compact ultrasound devices, rapid adoption of portable ultrasound systems in hospitals and diagnostic centers, rising R&D activities to develop advanced and smart devices, and increasing cost-effectiveness and convenience of usage.
North America to Account for a Significantly Large Revenue Share:
North America is expected to account for a significantly large revenue share in the global market over the forecast period attributable to increasing adoption of ultrasound technique for diagnostic imaging and therapeutic applications owing to rising prevalence of chronic diseases, availability of advanced ultrasound devices and state-of-the-art healthcare facilities, favorable reimbursement policies, rising number of FDA approvals, and presence of key medical device manufacturers in the region.
Asia Pacific to Register Fastest Revenue CAGR:
Asia Pacific is expected to register fastest revenue CAGR over the forecast period owing to increasing focus on early diagnosis and detection, rising healthcare expenditure, high incidence of chronic diseases such as musculoskeletal disorders and cancer, among others, rapidly growing network of specialized diagnostic imaging centers, and rising preference for minimally invasive diagnostic and therapeutic procedures.
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Major Companies in the Market Include:
- GE Healthcare
- Koninklijke Philips N.V.
- Canon Medical Systems Corporation
- Siemens Healthineers AG
- Samsung Electronics, Ltd.
- FUJIFILM Holdings Corporation
- Esaote S.p.A.
- Mindray Medical International Ltd.
- Shimadzu Corporation
- Analogic Corporation
- Carestream
- Hologic
- MobiSante
- Chison Medical Imaging Co., Ltd.
- Konica Minolta Inc.
- Toshiba Corporation
Market Segmentation:
For the purpose of this report, Reports and Data has segmented global ultrasound market based on device display, product type, portability, application, end-use, and region:
Device Display Outlook (Revenue, USD Million, 2018-2028)
- Color Ultrasound Devices
- Black & White (B/W) Ultrasound Devices
Product Type Outlook (Revenue, USD Million, 2018-2028)
- Diagnostic
- 2D Imaging Systems
- 3D & 4D Imaging Systems
- Doppler Imaging
- Therapeutic
- High-Intensity Focused Ultrasound (HIFU)
- Extracorporeal Shockwave Lithotripsy (ESWL)
Portability Outlook (Revenue, USD Million, 2018-2028)
- Trolley/Cart
- Compact/Handheld
- Point-of-care (PoC)
Application Outlook (Revenue, USD Million, 2018-2028)
- Radiology/General Imaging
- Obstetrics/Gynecology
- Cardiology
- Urology
- Vascular
- Others
End-use Outlook (Revenue, USD Million, 2018-2028)
Hospitals, Surgical Centers, and Diagnostic Centers
- Maternity Centers
- Ambulatory Care Centers
- Research and Academia
- Others
- Physiotherapy Clinics
- Independent Associations
- Government Organizations
- Sports Academies
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Regional Outlook (Revenue, USD Million, 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Israel
- Rest of MEA
Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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Artificial Intelligence
Identity Governance & Administration Market Projected to Reach $24.42 billion by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 25, 2024 /PRNewswire/ — The report titled “Identity Governance & Administration Market by Component (Services, Solution), Modules (Access Certification & Compliance Control, Access Management, Identity Lifecycle Management), Organization Size, Deployment, Vertical – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $8.46 billion in 2023 to reach $24.42 billion by 2030, at a CAGR of 16.34% over the forecast period.
“Navigating Global Identity Governance With Key Strategies for Digital Security and Compliance”
Identity governance and administration (IGA) has emerged as a critical policy-driven approach aimed at fortifying digital identities within organizations, ensuring that proper access is provided to the right individuals for valid reasons. Across the globe, the demand for IGA solutions is on the rise, driven by the need to tackle sophisticated cyber threats, comply with stringent data protection laws, and adapt to the digitization wave sweeping through industries. Challenges include integrating these solutions with pre-existing IT frameworks, primarily in organizations reliant on legacy systems. The North American market, led by the United States and Canada, is at the forefront of this expansion, embracing technological advancements and stringent regulatory standards. Meanwhile, the Europe, Middle East, and Africa (EMEA) region is navigating its unique landscape, with the EU focusing heavily on compliance through GDPR and the Middle East and Africa gradually recognizing the value of digital security. The Asia-Pacific region is witnessing a significant uptrend in IGA solutions adoption, spurred by digital transformation initiatives and cybersecurity awareness, with China and India playing pivotal roles. This global perspective highlights the universal importance of IGA in today’s digital era, highlighting the critical balance between innovation, security, and regulatory compliance in safeguarding digital identities.
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“Navigating the New Normal With The Crucial Role of Identity Governance in Securing Hybrid Work Environments”
As businesses globally embrace the fusion of remote and traditional office work, the need for secure, hybrid workspaces becomes paramount. The shift toward flexible working models, accelerated by the COVID-19 pandemic, highlights the importance of cybersecurity and accessibility in ensuring operational continuity and a better work-life balance. Identity governance & administration (IGA) systems emerge as essential tools within this evolving work landscape. They enable organizations to manage digital identities and access rights effectively, safeguarding sensitive data against unauthorized access across diverse working environments. By ensuring that only credentialed employees can access critical information, regardless of their physical location, IGA solutions stand at the forefront of maintaining cybersecurity compliance and operational integrity. This development signifies a growing demand for robust identity governance frameworks, ensuring businesses remain resilient and secure in remote work and beyond.
“Elevating Security and Efficiency in Organizations through Specialized Identity Governance & Administration Services”
Managed and professional services provide organizations with the specialized expertise necessary for optimizing the performance and security of identity governance & administration (IGA) systems, eliminating the need for such in-depth knowledge internally. Businesses benefit from advanced skills that enhance system functionality and safeguard sensitive data by outsourcing specific IGA tasks. From the initial stages of integration and implementation, ensuring seamless incorporation with existing infrastructures, to ongoing support and maintenance for consistent system reliability and up-to-dateness, these services form the foundation of effective IGA strategies. Furthermore, training and consulting play a pivotal role, equipping companies with the understanding and capability to utilize their IGA systems to the fullest. IGA solution is a critical technological tool designed to streamline the management of user access rights across organizations, bolstering security, operational efficiency, and compliance with regulatory standards. This comprehensive approach to IGA facilitates a more secure, efficient, and compliant organizational environment, empowering businesses to focus on core objectives and ensure their data remains protected.
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“International Business Machines Corporation at the Forefront of Identity Governance & Administration Market with a Strong 7.09% Market Share”
The key players in the Identity Governance & Administration Market include Broadcom, Inc., SAP SE, Oracle Corporation, Microsoft Corporation, International Business Machines Corporation, and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Identity Governance & Administration Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Identity Governance & Administration Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Identity Governance & Administration Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
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“Dive into the Identity Governance & Administration Market Landscape: Explore 197 Pages of Insights, 654 Tables, and 26 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsIdentity Governance & Administration Market, by ComponentIdentity Governance & Administration Market, by ModulesIdentity Governance & Administration Market, by Organization SizeIdentity Governance & Administration Market, by DeploymentIdentity Governance & Administration Market, by VerticalAmericas Identity Governance & Administration MarketAsia-Pacific Identity Governance & Administration MarketEurope, Middle East & Africa Identity Governance & Administration MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
Related Reports:
Privileged Identity Management Market – Global Forecast 2024-2030Identity & Access Management Professional Services Market – Global Forecast 2024-2030Digital Identity Solutions Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
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Artificial Intelligence
Enghouse Video Partners With SONIFI Health To Deliver Advanced Telehealth Solutions In Hospital Rooms
MARKHAM, ON, April 25, 2024 /PRNewswire/ — Enghouse Video, a global leader in cutting-edge video technology solutions, today announced its partnership with SONIFI Health, enhancing virtual care in hospital settings.
SONIFI Health is a leading U.S. healthcare technology company based in Sioux Falls, South Dakota. The new partnership leverages and integrates Enghouse Video room systems technology to support SONIFI Health’s commitment to expanding telehealth applications and system optimizations in hospital settings.
Enghouse’s VidyoRooms solution, a sophisticated video conferencing technology that combines both software and hardware solutions, has been fully integrated into SONIFI Health’s interactive TV systems. This integration provides up to 4K high-quality video conferencing, multi-party sessions and robust security features that ensure full compliance with healthcare regulations.
Enghouse Video offers an immersive telehealth platform to support collaborative interdisciplinary care, improved patient outcomes and cost savings. The platform is flexible and simple, delivering the reliability, interoperability, and scalability needed for today’s healthcare environment. A key strength of the partnership is its offering of back-end integrations like patient portals, medical devices, EMR, tele-sitting, remote patient observation and consultation.
“Hospitals can choose the telehealth partner that’s right for them, and we incorporate that solution with interactive TV,” said Brian Nido, SONIFI Health’s Vice President of Customer Success. “Using the hardware and systems they already have in patient rooms helps hospitals reduce costs and maximize the value of their existing investments, while benefiting both clinicians and patients.”
SONIFI Health and Enghouse Video continue to collaborate closely to further refine and enhance the telehealth solutions provided to healthcare facilities. This partnership reflects a shared commitment to leveraging technology to create smarter hospital rooms and improve patient care across the healthcare spectrum.
About Enghouse VideoEnghouse Video, part of the Enghouse Interactive division, is a subsidiary of Enghouse Systems Limited, a vertically focused software and services company traded on the Toronto Stock Exchange (TSX: ENGH). Through highly secure, scalable and flexible Cloud-based or On Prem services, we deliver one of the world’s highest quality and most innovative video platform to video-enable any application or idea. From advanced video conferencing and collaboration tools to state-of-art enterprise video management, Enghouse Video is a unique player in multiple markets, including telehealth. Learn more at www.enghousevideo.com, read our blog, or follow us on Twitter at @EnghouseVideo, on LinkedIn, and on Facebook.
About SONIFI HealthSONIFI Health provides market-leading interactive patient engagement technology proven to improve patient outcomes and staff productivity. The EHR-integrated platform is designed to enhance patient and family experiences while increasing staff satisfaction and organizations’ operational efficiencies. As part of SONIFI Solutions, Inc., the company annually supports more than 300 million end user experiences. Learn more at sonifihealth.com.
Enghouse Video Contact: Sylvain Awad, Director, Demand Generation, Enghouse Video, part of Enghouse Interactive Division, [email protected]
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Artificial Intelligence
Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow
Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.
Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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