Thanks to its diverse product portfolio, GE Healthcare has increased its lead over Philips Healthcare and Siemens Healthcare in the $1.2 billion U.S. ultrasound market, according to a report from Millennium Research Group.
The Toronto-based research firm also found that the Chalfont St. Giles, U.K.-based vendor grew its share in the fast-growing emerging ultrasound system segment from 10% in 2007 to 29% in 2009. The emerging application segment includes systems used for regional anesthesia, emergency medicine, surgery, critical care, and vascular access, Millennium said.
Growth in this sector is expected to dwarf gains in the traditional radiology and cardiology ultrasound markets, according to Millennium. The research firm said that GE's strategic focus on new product offerings in this segment situates the company well for strong growth through 2014.
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