Portable Ultrasound Device Market By Type Of Device (Mobile Ultrasound Device, and Hand-Held Ultrasound Device). By Application (Cardiovascular, Obstetrics and Gynecology, Gastric, Musculoskeletal, and Others). By End-User (Hospitals, Diagnostic Centers, Ambulatory Care Centers, and Others)

Portable Ultrasound Device Market Overview

The rise in prevalence of chronic conditions such as cancer tumors, gallstones, and fatty liver disease, among others, is driving worldwide expansion, as is excessive spending in the healthcare industry. Ultrasound is one of several medical imaging modalities available on the market. An ultrasound device uses high-frequency sound waves to visualize the body's internal organs. It is a gadget that uses high-frequency sound waves to record photographs of interior organs. A transducer plus an ultrasonic detector, or probe, make up an ultrasound system. 
The increased use of ultrasound equipment for diagnostic imaging and therapy, together with the rising prevalence of chronic and lifestyle-related diseases, is likely to drive market growth. Furthermore, increased demand for minimally invasive surgery and technological improvements in ultrasound imaging technology is boosting the market. It is also safer than other imaging technologies because it does not use ionizing radiation or a magnetic field. The increase in ultrasound device applications in 3D imaging, shear wave elastography, wireless transducer development, app-based ultrasound technology, fusion with CT/MR, and laparoscopic ultrasound is expected to keep the industry interested in the near future. Furthermore, the use of artificial intelligence (Al) to automate time-consuming operations like quantification and selecting the best image slice from a 3-D dataset is likely to drive market expansion. AI is presently used in many high-end ultrasound systems, and AI is projected to be included in the majority of new systems at all levels in the future.

Market Size

According to Business Intelligence Insights "Portable Ultrasound Device Market is expected to grow from USD 2,173.7 million in 2021 to USD 5,737.8 million by 2028, at a CAGR of 12.9% during the forecast period 2021-2030

Covid -19 Impact Analysis

Novel Coronavirus is a global pandemic with an increasing number of confirmed cases and deaths. The COVID-19 epidemic has hit practically every country on the planet, causing economic disruption in a variety of ways. Treatment operations have been canceled or postponed due to lockdown restrictions unless an emergency exists. Increasing demand for telemedicine and tele-ultrasound procedures during these difficult times has resulted in a significant increase in the demand for portable ultrasound devices. Government agencies spent a lot of money on these platforms to reduce the risk of COVID 19. Furthermore, wireless portable ultrasonography provides quick diagnostic and contactless diagnosis methods, which decreases virus transmission rate. This increased the popularity of these devices. Ultrasound systems are being used by healthcare providers to organize, monitor, and diagnose COVID-19 patients. This caused market shares to skyrocket throughout the pandemic.

Market Dynamics

•    Drivers
o    Increase in the number of diagnostic ultrasonography devices in the field of obstetrics and gynecology 
o    Increased understanding of the importance of early disease detection

•    Restraints
o    A scarcity of skilled sonographers
o    Ultrasound imaging limitations

Segmentation Insights

By Application

The Cardiovascular segment is expected to witness fastest growth over the forecast period

The growth can be attributed to the increasing prevalence of Cardiovascular Disorders (CVD) worldwide. CVDs are the leading cause of death worldwide, accounting for 17.9 million deaths per year, according to the WHO. Additionally, advances in ultrasound technology for cardiac applications are expected to drive market expansion. Philips, for example, will launch Affiniti CVx in August 2020, boosting its cardiovascular ultrasound line. The technology is designed to help cardiology departments provide better care to more patients while increasing efficiency and throughput.

 

By End-User

Hospital category dominated the market with more than 39% of the market share

The widespread use of ultrasound devices in medical settings, as well as an increase in the number of patients presenting to hospitals with various lifestyle-related disorders, can all be attributed to the segment's expansion. The development of portable ultrasound systems is expected to enhance the demand for ultrasound devices in both outpatient and in-patient settings. In addition, greater use of technologically advanced imaging systems, as well as increased mergers and acquisitions between hospitals and market competitors, are projected to fuel demand for new installations in the coming years.

By Type Of Device
•    Mobile Ultrasound Device
•    Hand-Held Ultrasound Device

By Application
•    Cardiovascular
•    Obstetrics And Gynecology
•    Gastric
•    Musculoskeletal
•    Others

By End-User
•    Hospitals
•    Diagnostic Centers
•    Ambulatory Care Centers
•    Others

By Region
•    North America
o    U.S.
o    Canada
•    Europe 
o    Germany
o    U.K.
o    France
o    Italy
o    Spain
o    Rest of Europe
•    The Asia Pacific 
o    China
o    India
o    Japan
o    Rest of Asia Pacific
•    Latin America 
o    Brazil
o    Mexico
o    Rest of Latin America
•    The Middle East and Africa 
o    UAE
o    South Africa
o    Rest of the Middle East and Africa (MEA)

Key Players

List of Key Players in the Global Portable Ultrasound Device Market:

•    Fujifilm SonoSite, Inc.
•    GE Healthcare
•    Hitachi Ltd
•    Fukuda Denshi
•    Shenzhen Mindray
•    Canon Medical Systems Corporation
•    Koninklijke Philips N.V.
•    Samsung Medical
•    Siemens Healthineers

Regional Insights

North America dominated the market with more than 30% of the market share

This can be attributed mostly to upgraded health infrastructure, rising disease and infection prevalence, increased emphasis on the creation of novel goods, and an increase in the number of regional enterprises manufacturing portable ultrasound devices. During the projection period, the area is expected to become the largest market. The increased adoption of technologically enhanced portable ultrasonography is a contributing element to the dominant share. Other key causes include the rising occurrence of severe illnesses such as cancer, which has resulted in a strong and persistent need for reliable medical imaging.

Table

Report Attributes	Details
Market Size Value in 2021	USD 2,173.7 million
Market Size Value in 2028	USD 5,737.8 million
Growth Rate	+12.9%
Base Year	2021
Forecast Period	2021-2030
Historical Data	2018-2020
Forecast Units	(USD Million)
Countries Covered	North America: U.S and Canada Europe: Germany, France, Italy, U.K, Spain, Russia, Rest of Europe APAC: China, Japan, South Korea, India, Australia, South East Asia, Rest of Asia Pacific Latin America: Brazil, Mexico Middle East And Africa: Saudi Arab, South Africa, UAE
Segments Covered	By Type Of Device, By Application, By End-User, By Region
Competitive landscape	Leading companies, Competitive strategies and Consumer engagement scope
Customization is available	If our report does not contain the information you require, you can contact our experts to have segments created for you. Please contact us at sales@businessintelligence-insights.com if you have any questions

 

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