The recent changes are not going to immediately trouble the established vendors in North America such as GE HealthCare, Philips and Fujifilm SonoSite. Philips and Fujifilm are predominantly active in the cardiology and point of care ultrasound markets respectively, not key target areas for Boston Imaging. GE HealthCare is the dominant leader in the women’s health ultrasound market and its significant installed base means that, in the near term, it is unlikely to be threatened by Boston Imaging. However, other smaller vendors, especially those active in general imaging and women’s health, will undoubtedly be looking over their shoulders. With its scalability and reach, Samsung Medison clearly has the potential to have a much larger presence in the North American market, having ten times the global ultrasound revenues than some of the vendors it is currently next to in the vendor rankings list. Whilst vendors like Mindray have shown impressive growth in the North American market, amidst business challenges brought on by sanctions arising from the strained relationship between the U.S. and China, as a South Korean vendor, Samsung Medison is able to avoid such pitfalls.
The North American market is one with considerable potential for Samsung Medison. Whilst there will be challenges in establishing its new Boston Imaging brand, the recent changes in its ultrasound business show not only its intent to become a much bigger fish in the huge ocean that is the North American ultrasound market, but also how it wants to achieve this.
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About the author: Mustafa Hassan is a market analyst at Signify Research, which provides healthtech market intelligence powered by data that you can trust. It blends insights collected from in-depth interviews with technology vendors and healthcare professionals with sales data reported to it by leading vendors to provide a complete and balanced view of the market trends. Its coverage areas are Medical Imaging, Clinical Care, Digital Health, Diagnostic and Lifesciences and Healthcare IT.Back to HCB News
