The rise in the number of elderly people, the prevalence of chronic diseases, technological developments, and the increased need for point-of-care diagnostics are the main factors driving the growth of the global portable ultrasound devices market. In nations where more than 20% of the population is over the age of 60, such as Japan, Spain, and Italy, the geriatric population is expanding quickly. A more precise diagnostic and quicker, non-invasive treatment alternatives are becoming increasingly in demand thanks to ultrasound technology. Additionally, the prevalence of chronic disorders like cardiovascular disease is rising globally. Due to its ability to diagnose such illnesses accurately and quickly, portable ultrasound devices have seen an increase in demand.
The growing need for better healthcare services and technical improvements have increased the need for portable ultrasound equipment in recent years. The usage of portable ultrasound equipment is essential to the medical imaging procedures that are used to diagnose and treat a variety of disorders. Over the course of the forecast period, the market is anticipated to develop as a result of the expanding trend of employing portable ultrasound devices.
Over the course of the projection period, it is predicted that the market for portable ultrasound equipment would expand significantly. This is explained by a number of its benefits, including portability, affordability, and cutting-edge technology. Compared to its cart- or trolley-based equivalents, portable ultrasound equipment is smaller and lighter, making them simpler to move around and manage. Additionally, because they require a smaller initial investment and have lower operating costs than traditional ultrasound equipment, these devices are also more economical. Additionally, compared to other imaging modalities, portable ultrasound equipment provides great picture resolution and quality, making them more dependable. They are therefore perfect for use in care settings at home as well as in hospitals and clinics.
The use of portable ultrasound devices in medical imaging technologies allows for the creation of images of various organs and body structures. They do this by using high-frequency sound waves that are produced by an ultrasonic transducer and then sent through a probe into the body. A detailed image is created by taking a picture of the echo waves after they have bounced off the organs and tissues inside the human body. These portable ultrasound machines give medical workers greater diagnostic precision, comfort, and flexibility.
From 2021 to 2031, the market for portable ultrasound devices is anticipated to expand at a CAGR of 5.5%, reaching a projected value of US$ 4.7 billion.
The fact that these systems are expensive because of their sophisticated features is one of the main factors limiting the growth of the global market for portable ultrasound devices. Furthermore, the lack of appropriate reimbursement rules in many nations has an impact on affordability and makes it challenging for users to make purchases. This has made ultrasound equipment more expensive to buy and maintain, which has made expanding the market extremely difficult. But growing knowledge of the applications for these systems and the advantages they have for diagnostics is going to put the market on a stable development trajectory.
GE Healthcare, Siemens AG, Canon Medical Systems Corporation, Fujifilm Holdings Corp., Philips Healthcare, Samsung Electronics Co. Ltd., Esaote SPA, Analogic Corporation, and Shenzhen Mindray Bio-Medical Electronics Co. Ltd. are a few of the major companies active in the global portable ultrasound devices market.
The Cart-/Trolley-Based Ultrasound Equipment Type to Emerge as the Most Lucrative Segment
Cart-/Trolley-Based Ultrasound Equipment and Handheld Ultrasound Equipment are the two categories into which the Global Portable Ultrasound Devices Market is divided. During the projection period of 2021–2031, the segment of ultrasound equipment that is cart- or trolley-based is anticipated to account for a greater revenue market share. This is mostly attributable to the fact that, in comparison to handheld ultrasound instruments, these technologies offer more versatility and enable better image viewing.
The Most Popular Application Segment is Hospital
The Hospital, Clinic, and Home Care segments make up the Global Portable Ultrasound Devices Market. Because hospitals have the staff and resources needed to deploy these devices, the hospital segment is anticipated to hold a disproportionately large share of the market during the projected period. Hospitals also do highly sophisticated operations that call for portable ultrasound equipment.
The Asia Pacific (APAC) region to render Adequate Financing Avenues
Due to rising demand and the availability of cutting-edge technology in this area, North America is expected to have the greatest share of this market. The Asia Pacific region is anticipated to see the highest CAGR throughout the projection period because of the region's growing hospital and clinic population, growing public awareness of the advantages of portable ultrasound technology, and the region's more inexpensive prices. Over the course of the projection period, Europe is anticipated to have robust market expansion. This growth is linked to healthcare providers' increased focus on imaging solutions and the rise in demand for diagnosis techniques that are affordable. Due to the lack of a strong healthcare infrastructure in this region, the Middle East and Africa are predicted to have slow growth.
COVID-19 Impact and Market Status
The COVID-19 pandemic epidemic has had a substantial influence on a number of industries, notably the healthcare industry. The diagnosis of lung and abdominal conditions, as well as cardiac and circulation illnesses, is frequently done using portable ultrasound instruments. The pandemic's disruption is anticipated to result in fewer clinical visits, which will have an impact on portable ultrasound device sales. Additionally, a shortage of raw materials, components, and other medical supplies has resulted from government limitations on cross-border mobility. The development and introduction of new portable ultrasound equipment may be delayed as a result. Long term, however, market recovery is anticipated as the pandemic situation eases. In addition, the market for portable ultrasound devices is anticipated to expand due to the rising need for home healthcare services and remote patient monitoring programmes.
Latest Innovations in the Global Portable Ultrasound Devices Market: A Snapshot
• 2020 will see the development and marketing of portable ultrasound devices for the ultrasound market by FUJIFILM SonoSite, Inc. and Mindray Medical International Limited.
• In order to further improve its position in the market for portable ultrasound devices, Analogic Corporation announced in October 2020 that it had acquired Ultrasonix Medical Corporation, a top provider of ultrasound technology solutions.
Portable Ultrasound Devices Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||USD 4.7 billion|
|Growth Rate||CAGR of 5.5% during 2021-2031|
|Segment Covered||by Type, by Deployment, By Application, by Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||GE Healthcare, Siemens AG, Canon Medical Systems Corporation, Fujifilm Holdings Corp., Philips Healthcare, Samsung Electronics Co. Ltd., Esaote SPA, Analogic Corporation, and Shenzhen Mindray Bio-Medical Electronics Co. Ltd.|
Key Segments of the Portable Ultrasound
By Type Overview (USD Billion)
• Ultrasound Equipment
• Handheld Ultrasound Equipment
By Application Overview (USD Billion)
• Home Care
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and Africa