Heightened demand is fueling innovation in the worldwide diagnostic ultrasound market in 2014, while 2013 acquisitions have resulted in diversified product portfolios.
That conclusion comes from a new report by market research group GlobalData, which cited two acquisitions by medical imaging firm Analogic as examples of diversification in the ultrasound market.
Last year, Analogic bought Ultrasonix Medical, which expanded Analogic's ultrasound product portfolio from its own subsidiary, BK Medical. The company also acquired a majority stake in PocketSonics to enhance its point-of-care ultrasound product line.
In another example of expansion, Mindray Medical International's acquisition of ultrasound technology developer Zonare Medical Systems allowed Mindray to capture a share of the high-end ultrasound market, according to the report. It should also help Mindray increase market share in developed nations where the company currently lags other competitors.
The year ended with Konica Minolta Medical Imaging buying the ultrasound business segment of Panasonic Healthcare. Konica Minolta launched a handheld system in December 2013 and added products from Panasonic last month.
