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HomeMarch 1-14, 2024MIT’s newly developed wearable device may alter ultrasound imaginglandscape, says GlobalData

MIT’s newly developed wearable device may alter ultrasound imaginglandscape, says GlobalData

The Massachusetts Institute of Technology (MIT) has created an ultrasound sticker that can determine the stiffness of internal organs for early disease detection. The successful launch of a product with these capabilities has the potential to change the hierarchy of the ultrasound imaging market, which was worth $6.5 billion in 2023 and is expected to reach $7.3 billion in 2033 with a compound annual growth rate (CAGR) of 1.2%, according to GlobalData, a leading data and analytics company.

Aidan Robertson, Medical Analyst at GlobalData, comments: “Ultrasound is one of the most used diagnostic devices due to its ease of use, low cost, lack of radiation, and absence of any invasive procedures. With approximately the size of a postage stamp and continuous monitoring abilities, the implementation of the new ultrasound device is sure to garner interest from the rest of the healthcare community.”

MIT’s wearable sensor adheres to the skin and can detect signs of liver or kidney disease as well as the progression of tumors. Due to the wearable nature of the product, identifying changes in organ rigidity can be tracked over long periods of time, which is vital for the early detection of organ failure.

According to GlobalData’s market models, GE, Siemens, and Phillips are currently top players in the ultrasound imaging market, accounting for 15.4%, 14.8%, and 13.4% of the market, respectively.

While the new technology may not be a concern for companies such as GE, as the healthcare system begins to recognize the feasibility of this device, they may put some investment towards the development of a similar product in the future.

Robertson concludes: “The ultrasound imaging market shows stable growth as it is used in the diagnosis of many common diseases, and it is often the modality of choice for preliminary checks of those diseases. The accessibility of this type of imaging is what drives demand for its use, and with the addition of a portable ultrasound sticker to the market, there is a potential for widespread application of this device.”

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