Philips Becomes U.S. Market Share Leader in Ultrasound Equipment
May 18, 2006
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Consumer electronics and medical equipment maker Royal Philips Electronics announced that Klein Biomedical Consultants (KBC) reported that, in 2005, Philips Medical Systems ultrasound business unit took over the market leader position with a 26-percent share of the overall diagnostic ultrasound market in the U.S.
Philips out-paced market revenue gains with an annual growth rate of 12 percent, according to KBC.
The Klein Report tracks revenues and units by market segment for all manufacturers in the U.S. ultrasound market. KBC uses public information, primary research and interviews with manufacturers to triangulate the data.
Despite a flat radiology marketplace, Philips grew its market share in the area by two points. In cardiology, according to KBC, market revenues grew 10 percent last year primarily driven by sales of the Philips iE33. This resulted in Philips regaining its number 1 market position for cardiology in the U.S. with a 35-percent share of total sales.
Philips credits much of its growth in 2005 to the introduction of four new systems in less than 2 years: the iE33, iU22, HD11, and HD3.
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