REDDING,
Calif., May 7, 2024 /PRNewswire/ -- According
to a new market research report, 'Portable Ultrasound
Market By Product (POCUS, Handheld Ultrasound, Transducer, Gels),
Technology (2D, 3D, 4D, Doppler), Display, Application (Breast
Cancer, MSK, OB/GYN, CVD, Urology), End User (Hospitals, ACC,
Imaging Center) – Global Forecast to 2031' published by
Meticulous Research®, the portable ultrasound market is
projected to reach $3.8 billion by
2031, at a CAGR of 7.9% during the forecast period 2024–2031.
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Portable ultrasound devices offer a cost-effective, highly
mobile, and easy-to-use alternative to traditional cart-based
ultrasounds. Point-of-care ultrasound, also known as PoC ultrasound
or POCUS, enables physicians to carry out diagnostic imaging near
patients. Additionally, advances in handheld ultrasound devices
through the integration of artificial intelligence and machine
learning are increasing the accuracy of image analysis, leading to
better result interpretation. Additionally, the development and
launch of portable ultrasound devices for specific applications
drive the adoption of portable ultrasounds.
The growth of the portable ultrasound market is driven by the
growing prevalence of chronic diseases coupled with increasing
demand for handheld ultrasound devices in ambulatory care centers
and dialysis centers. Furthermore, emerging economies are expected
to create growth opportunities for the players operating in the
portable ultrasound market.
Increasing Preference for Point-of-Care Testing in Developing
Countries to Provide Opportunities for Market Players
The integration of advanced technologies into medical imaging
has increased their demand within healthcare settings. Moreover, it
enables healthcare organizations to cost-effectively identify and
detect diseases. Countries like China, India,
Brazil, and South Africa are recognized as major emerging
economies characterized by high GDP growth. These emerging
economies are driving the demand for healthcare services and
treatments due to improving healthcare infrastructure, aging
population, increasing healthcare expenditures, increasing
government investments, rising disposable incomes, and the growing
prevalence of chronic conditions.
The large number of hospitals in developing countries such as
India, coupled with rising
healthcare expenditures, the growing demand for quality healthcare,
and the increasing prevalence of chronic diseases, are expected to
provide significant growth opportunities for the players operating
in the portable ultrasound market. For instance, as of 31 March 2021, India had 157,819 district hospitals, 30,579
sub-divisional/district hospitals, 5,951 community health centers,
1224 primary health centers, and 764 sub-centers (Source: Ministry
of Health and Family Welfare). The developing healthcare
infrastructure in emerging countries drives the demand for
point-of-care testing, including imaging procedures using PoC
ultrasound.
Moreover, portable ultrasound devices eliminate the need for
pregnant women to visit ultrasound centers. These devices offer a
more cost-effective solution compared to traditional ultrasound
machines. Additionally, these devices also enable healthcare
providers to expedite the diagnostic process, resulting in faster
and more accurate diagnoses, ultimately contributing to improved
patient outcomes.
The key companies profiled in this market study are GE
Healthcare Technologies Inc. (U.S.), Siemens Healthineers AG
(Germany), Shenzhen Mindray
Bio-Medical Electronics Co., Ltd. (China), Koninklijke Philips N.V. (Netherlands), Samsung Medison Co. Ltd. (A
subsidiary of Samsung Electronics Co. Ltd.) (South Korea), FUJIFILM Sonosite, Inc. (A
subsidiary of FUJIFILM Holdings Corporation) (U.S.), ALPINION
MEDICAL SYSTEMS Co., Ltd. (South
Korea), Esaote S.p.A (Italy), EDAN Instruments, Inc. (China), EchoNous, Inc. (U.S.), Butterfly
Network, Inc. (U.S.), Konica Minolta, Inc. (Japan), CHISON Medical Technologies Co., Ltd
(China), SonoScape Medical Corp.
(China), and Healcerion Co., Ltd.
(South Korea).
The global portable ultrasound market is segmented by product
(Devices [by Portability {Point-of-care (PoC) Ultrasound (Machines
and Transducers), Handheld Ultrasound}, by Technology {2D, 3D &
4D, Doppler}, by Display {Black & White (B/W), Colored}], Gels,
Accessories), Application ( OB/GYN, Cardiovascular, Urology,
Musculoskeletal, Breast Cancer, Other Applications), End User
(Hospitals & Clinics, Diagnostic Imaging Centers, Ambulatory
Care Centers, Other End Users) and Geography. The study also
evaluates industry competitors and analyzes the market at regional
and country levels.
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Based on the product, the portable ultrasound market is
segmented into devices, gels, and accessories. In 2024, the devices
segment is expected to account for the largest share of 92%
of the overall market. The large market share of this segment is
attributed to the growing demand for PoC ultrasound devices in
emergency departments, increasing preference for ultrasound imaging
near patients, the growing prevalence of chronic diseases, and
technological advancements in portable ultrasound devices. For
instance, in November 2022, Konica
Minolta Healthcare Americas (U.S.) launched a new point-of-care
ultrasound system called Sonimage MX1 Platinum. This device
includes an imaging algorithm that improves image resolution by
reducing speckles and smoothing imaging graininess.
The devices segment is further sub-segmented into 2D ultrasound,
3D & 4D ultrasound, and Doppler ultrasound. In 2024, 2D
ultrasound is expected to account for the largest share of the
portable ultrasound devices market. The large market share of this
segment can be attributed to its cost-effectiveness, wide
availability, noninvasive nature, and significant applications in
women's health. 2D ultrasounds are used for detecting tumors,
cysts, or polyps within major organs. During pregnancy, they are
used to ensure the health of the fetus, monitoring parameters such
as heart rate, movement, and measurements of the stomach, legs, and
head. Obstetricians utilize 2D ultrasounds to monitor fetal
development throughout pregnancy. Additionally, they are also used
by doctors for laparoscopic surgeries, amniocentesis, and other
medical procedures.
Based on application, the portable ultrasound
market is segmented into OB/GYN, cardiovascular, urology,
musculoskeletal, breast cancer, and other applications. In 2024,
the OB/GYN segment is expected to account for the largest share of
31% of the overall portable ultrasound market. In
gynecology, portable ultrasound can assist in identifying the
reason for abdominal pain, bleeding, or abdominal distension or in
defining a pelvic mass. It identifies uterine shape and position
(anteverted vs. retroverted), detects the presence of fibroids,
confirms the location of intrauterine contraceptive devices,
measures endometrial thickness, and detects polyps or blood/fluid
in the cavity. It is also useful to visualize ovarian cysts, which
may be actively bleeding, torted or hemorrhagic, tubal pathology
such as a hydrosalpinx, and other forms of pelvic inflammatory
disease. Thus, the growing prevalence and awareness regarding
women's reproductive health conditions contribute to the large
market share of this segment.
Based on end user, the portable ultrasound market is
segmented into hospitals & clinics, diagnostic imaging centers,
ambulatory care centers, and other end users. In 2024, the
hospitals & clinics segment is expected to account for the
largest share of 44% of the portable ultrasound market. The
growth of this segment is being driven by the increasing
hospitalizations due to chronic diseases associated with an aging
population, increasing healthcare expenditure, the willingness of
hospitals to opt for advanced imaging modalities, preference for
low-cost products to control healthcare cost, rising focus on
providing point of care/bedside service to patients, and increasing
number of healthcare facilities in emerging economies.
However, the ambulatory care centers segment is expected to
register the highest CAGR during the forecast period (2024-2031).
This growth can be attributed to the growing number of ambulatory
care centers and the high preference for ambulatory care centers
among patients due to their cost efficiency. These ambulatory care
centers (ACC) offer patient care at a low cost compared to
traditional hospitals.
Based on geography, in 2024, North America is expected to account for the
largest share of 35% of the portable ultrasound market. The
North America portable ultrasound
market is estimated to be worth USD 778
million in 2024. North
America's significant market share can be attributed to the
increasing preference for minimally invasive surgery, the rising
incidence of chronic disorders, the growing occurrences of
orthopedic injuries, and advancements in ultrasound imaging
technology.
However, the Asia Pacific
portable ultrasound market is expected to witness a rapid growth
growth the forecast period. The increasing prevalence of orthopedic
injuries and cancer, the aging population, several government
initiatives to promote early diagnosis, growing adoption of
advanced medical technologies, improving healthcare infrastructure,
rising healthcare expenditure, and insurance coverage are some of
the key factors contributing to the growth of the portable
ultrasound market in the Asia-Pacific region.
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Scope of the Report:
Portable Ultrasound Market Assessment—by
Product
- Devices
- By Portability
- Point-of-care) (PoC) Ultrasound
- Hand Held Ultrasound
- By Technology
- By Display
- Black & White (B/W)
- Colored
- Gels
- Accessories
Portable Ultrasound Market Assessment—by
Application
- OB/GYN
- Cardiovascular
- Urology
- Musculoskeletal
- Breast Cancer
- Other Applications
(Note: Other Applications include gastroenterology,
anesthesiology, neurology, image guidance, and other abdominal
applications)
Portable Ultrasound Market Assessment—by
End User
- Hospitals & Clinics
- Diagnostic Imaging Centers
- Ambulatory Care Centers
- Other End Users
(Other End Users include home care settings and academic
institutes)
Portable Ultrasound Market Assessment—by
Geography
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Switzerland
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
(RoAPAC)
- Latin America
- Brazil
- Mexico
- Rest of Latin America
(RoLATAM)
- Middle East & Africa
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