Published on 29 May 2024 on Zacks via Yahoo Finance
Philips (PHG) Boosts Medical Imaging Footprint With New Move
Philips PHG is leaving no stone unturned to strengthen its footprint in the global medical imaging market on the back of a growing customer base. Per a Mordor Intelligence report, the global medical imaging market is expected to witness a CAGR of 4.9% between 2024 and 2030.Recently, the company announced the wide availability of its VeriSight Pro 3D Intracardiac Echocardiography catheter to several Hong Kong hospitals, thereby expanding clientele for its ICE imaging technology.Philips' VeriSight Pro 3D ICE uses xMATRIX array 3D steerable beam ultrasound transducer technology to capture high-quality 2D and 3D heart images, reducing the need for sedation and general anesthesia and enhancing procedure efficiency.The company is gaining solid customer momentum across various hospitals and healthcare providers in Hong Kong with the wide availability of this solution. Queen Elizabeth Hospital, Queen Mary Hospital, Prince of Wales Hospital, Hong Kong Asia Heart Centre, Hong Kong Sanatorium & Hospital, and Hong Kong Adventist Hospital are some of the hospitals that have been using VeriSight Pro for diagnostic imaging.This, in turn, has expanded Philips’ overall international footprint.Moreover, the latest move has added strength to its Diagnosis & Treatment segment.
Koninklijke Philips N.V. Price and Consensus
