Portable Ultrasound Devices Market Research Report – Segmented By Region (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2030.
Published date -30th Jan 2024
Formats -PDF, CSV
1. Market Size & CAGR of Portable Ultrasound Devices Market in 2021
The global market for portable ultrasound devices is estimated to be valued at USD 3.5 billion in 2021, with a Compound Annual Growth Rate (CAGR) of 5.2% from 2021 to 2026. The market size is expected to reach USD 4.8 billion by the end of 2026. The increasing prevalence of chronic diseases, advancements in technology, and the growing demand for point-of-care diagnostics are driving the growth of the portable ultrasound devices market.
2. COVID-19 Impact on the Portable Ultrasound Devices Market
The COVID-19 pandemic has had a significant impact on the portable ultrasound devices market. The unprecedented rise in the number of COVID-19 cases worldwide has led to an increased demand for portable ultrasound devices in hospitals and healthcare facilities. These devices have played a crucial role in the diagnosis and monitoring of COVID-19 patients, especially in remote or resource-limited settings.
Additionally, the pandemic has accelerated the adoption of telemedicine and remote patient monitoring, further driving the demand for portable ultrasound devices. Healthcare providers are increasingly using these devices to conduct virtual consultations and monitor patients from a distance, reducing the risk of virus transmission.
Despite the disruptions caused by the pandemic, the portable ultrasound devices market has shown resilience and is expected to rebound as healthcare systems adapt to the new normal. The increasing focus on point-of-care diagnostics and the growing need for portable imaging solutions are likely to fuel market growth in the post-pandemic era.
3. Portable Ultrasound Devices Dynamics
The portable ultrasound devices market is driven by several factors, including technological advancements, increasing adoption of point-of-care diagnostics, rising prevalence of chronic diseases, and growing healthcare expenditure. These devices offer numerous benefits, such as portability, ease of use, real-time imaging, and cost-effectiveness, making them essential tools in various medical specialties.
Moreover, the integration of artificial intelligence (AI) and machine learning algorithms into portable ultrasound devices has enhanced their diagnostic accuracy and efficiency. AI-powered ultrasound systems can assist healthcare professionals in interpreting imaging data, improving diagnostic outcomes, and enhancing patient care.
The expanding application areas of portable ultrasound devices, including emergency medicine, critical care, obstetrics, gynecology, cardiology, and musculoskeletal imaging, are driving market growth. The versatility and versatility of these devices make them indispensable in a wide range of clinical settings, from hospitals and clinics to ambulatory care centers and remote locations.
4. Segments and Related Analysis
4.1 Device Type
- Handheld Ultrasound Devices
- Mobile Ultrasound Devices
- Emergency Medicine
- Critical Care
- Obstetrics & Gynecology
- Musculoskeletal Imaging
4.3 End User
- Ambulatory Care Centers
5. By Region Analysis
5.1 North America
North America is expected to dominate the portable ultrasound devices market due to the presence of well-established healthcare infrastructure, high healthcare expenditure, and technological advancements in the region.
Europe is anticipated to witness significant growth in the portable ultrasound devices market, driven by increasing adoption of point-of-care diagnostics, rising prevalence of chronic diseases, and growing demand for portable imaging solutions.
5.3 Asia Pacific
The Asia Pacific region is projected to experience rapid market growth due to expanding healthcare infrastructure, rising healthcare expenditure, and increasing awareness about the benefits of portable ultrasound devices in the region.
5.4 Latin America
Latin America is poised for growth in the portable ultrasound devices market, driven by improving access to healthcare services, increasing government initiatives, and growing demand for advanced medical technologies in the region.
5.5 Middle East and Africa
The Middle East and Africa region are expected to witness steady market growth, propelled by rising healthcare investments, improving healthcare infrastructure, and the increasing prevalence of chronic diseases in the region.
6. Key Market Players and Competitive Landscape
The key players in the portable ultrasound devices market include GE Healthcare, Philips Healthcare, Siemens Healthineers, Canon Medical Systems, Fujifilm Sonosite, Samsung Medison, Hitachi Healthcare, Mindray Medical International, Esaote, and Terason. These players are focusing on strategies such as product innovation, partnerships, collaborations, and acquisitions to strengthen their market presence and expand their product portfolio.
7. Recent Happenings in the Portable Ultrasound Devices Market
- In August 2021, GE Healthcare launched the Vscan Air, a wireless, pocket-sized ultrasound device that offers high-quality imaging capabilities and real-time data sharing for point-of-care diagnostics.
- In September 2021, Philips Healthcare introduced the Lumify with Reacts tele-ultrasound solution, enabling remote collaboration and consultation between healthcare providers using portable ultrasound devices.
- In October 2021, Siemens Healthineers announced the release of the Acuson Redwood portable ultrasound system, featuring advanced imaging technologies for a wide range of clinical applications.