South Korea ultrasound systems market to grow at 3% CAGR through 2033, forecasts GlobalData

24 Apr, 2024 South Korea ultrasound systems market to grow at 3% CAGR through 2033, forecasts GlobalData

Posted in Medical Devices

Driven by the increasing access to healthcare, growing awareness about treatment options in both physicians and patients, and improving healthcare infrastructure, the ultrasound systems market in South Korea is set to grow at a compound annual growth rate (CAGR) of 3% between 2023 and 2033, forecasts GlobalData, a leading data and analytics company.

GlobalData's latest report, "Ultrasound Systems Market Size by Segments, Share, Regulatory, Reimbursement, Installed Base and Forecast to 2033," reveals that South Korea ultrasound systems market accounted for approximately 8% of the Asia-Pacific market in 2023.

Kanchan Chauhan, Medical Devices Analyst at GlobalData, comments: "With growing minimally invasive procedure volumes to treat an aging population, readily available, fast and accurate diagnostic tools are in demand. Technological advancements such as simplified controls and a streamlined interface enhance affordability and user-friendliness, making ultrasound systems more accessible to general practitioners at smaller facilities. As a result, ultrasound diagnosis is likely to become indispensable at all levels of the healthcare system, driving market growth."

Samsung Medison and Bracco Imaging have recently signed a memorandum of understanding to combine their respective areas of expertise and bring forth a revolutionary improvement in diagnostic ultrasound technology. By combining Samsung Medison's diagnostic ultrasound equipment with Bracco Imaging's diagnostic analysis software, this partnership seeks to develop high-frequency and super-resolution imaging protocols that will significantly improve diagnostic accuracy, streamline workflow, and improve image reporting when compared to traditional ultrasound systems.

Chauhan concludes: "By addressing the need for better imaging resolution and targeted drug delivery, this collaboration significantly advances ultrasound imaging utilizing cutting-edge technology to enhance imaging protocols and streamline healthcare workflows. It also reflects South Korea's commitment to safety, innovation, and ultimately improving healthcare outcomes for its population by raising standards for patient care."