Portable Ultrasound Market

SKU: DMMD2187 | Last Updated On: Nov 03 2022 | Available Formats

> Portable Ultrasound Market Expected to reach a high CAGR of 5.7% By 2029: DataM Intelligence

Portable Ultrasound Market is segmented By Device Type (Handheld Ultrasound Device, Mobile Ultrasound Device), By Application (Cardiovascular, Gynecology, Gastric, Musculoskeletal, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Portable Ultrasound Market was valued at US$ YY million in 2021 and is estimated to reach US$ YY million by 2029, growing at a CAGR of 5.7% during the forecast period (2022-2029).

Portable Ultrasound Market - Strategic Insights

Metrics

Details

Market CAGR

5.7%

Segments Covered

By Device Type, By Application, By End-User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

To Get a Free Sample Click here

Ultrasound is an imaging method that uses high-frequency sound waves to produce images of structures within the body. It is used to diagnose any swelling, infection, or any cause of pain in the body's internal organs. It is also used to guide biopsies and diagnose heart conditions and any effects after a heart attack. Portable ultrasounds have all the devices such as analyzers, image processors and generators, and image display condensed into a single small unit, weighing way less than the conventional ultrasound. It uses all the small and light parts.

Source: DataM Intelligence Analysis (2022)

Global Portable Ultrasound Market-Market Dynamics

The portable ultrasound market growth is driven by several factors, such as instant diagnosis and not requiring any special dedicated space, technological advancements, a rise in the geriatric population, and improvement in patient convenience.

The growing geriatric population is fueling the global market growth.

The geriatric population is the target population for developing the portable ultrasound market due to the inconvenience caused to the elderly due to frequent hospital visits for checkups. Due to the fundamental changes in the levels of fertility and mortality, the age structure of the world's population has aged significantly. According to the WHO, the world's older population continues to grow at an unprecedented rate. In 2030, 1 out of 6 people worldwide will be 60 years or over. The population aged 60 years and over accounted for 1 billion in 2020 and is expected to be 1.4 billion in 2030. By 2050, the world's geriatric population will be doubled (2.1 billion). The number of persons aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million. Older people get sick quickly and require health facilities more often. These devices eliminate old patients' stress of waiting hours before they receive a checkup or constantly moving from one room to another where the device is available. Hospital visits require effort, and the elderly feel much more convenient at home than in a hospital. It is also easier for the respective family, as they don't have to accompany them to the hospital.

The lack of proper reimbursement policies is hampering the global market growth.

The limited medical cost reimbursement for imaging is hampering the market growth. For instance, the medical imaging cost is considered for reimbursement if the imaging is needed for the diagnosis; also, repetitive diagnosis creates issues in case of reimbursement.

Global Portable Ultrasound Market-Industry analysis.

The global portable ultrasound market report will provide an in-depth analysis of the market based on various industry factors such as porter`s five forces, innovations, new product launches, pricing, Etc.

Global Portable Ultrasound Market - Segment Analysis

Mobile ultrasound devices are predicted to dominate the global market during the forecast period (2022-2029).

Mobile ultrasound devices are expected to hold a dominant market share over the period forecast (2022-2029) due to the great demand for these devices in ambulatory care. These devices help provide mobile care. Mobile ultrasounds can be connected to a smartphone, used anywhere, anytime, and carried with the doctor as it weighs less than a pound. This cheaper, lightweight equipment impacts life worldwide, from medical schools' anatomy classes to isolated battlefields such as Fujifilm's SonoSite portable ultrasound used by the U.S. army. Mobile ultrasounds are convenient for patients without leaving their homes to get the ultrasound done. Mobile ultrasounds are cost-effective as well. For instance, GE VSCAN Extend Ultrasound Machine costs just around $6,600.00.  

Source: DataM Intelligence Analysis (2022)

Global Portable Ultrasound Market –Geographical Analysis

North America is estimated to subjugate the global Portable Ultrasound market.

Asia Pacific region is assumed to grow at the highest CAGR over the forecast period (2022-2029) due to the rise in economy, large target population and growth in healthcare infrastructure. Developing economies have a huge market for mobile ultrasounds as they are cheaper and easier to handle. In India, with government initiatives like Ayushman Bharat, a significant spike in the growth of portable ultrasound in rural locations is expected, which is supposed to contribute to a major portion of the region's market. The market is also boosted by an increase in mid to large nursing homes & multi-specialty hospitals in tier I & II locations in many developing countries. Furthermore, according to the U.S Census population of Asia exceeded 4.5 billion, accounting for about 60% of the global population; there were an estimated 414 million Asian people age 65 and older, about 20% higher than the total U.S. population (331.4 million) in 2020.

Source: DataM Intelligence Analysis (2022)

Global Portable Ultrasound Market - Competitive Landscape

The market's major key players are Fujifilm, GE Healthcare, Hitachi Healthcare, Fukuda, Mindray, Canon Medical Systems Corporation, Philips Healthcare, Samsung Healthcare, Siemens Healthcare, Terason, Esaote, and BenQ Medical Technology. In the portable ultrasound market, the key players adopt growth strategies such as new product launches, partnerships, and collaborations with multiple research institutes and increasing research and development and high investment, contributing to the portable ultrasound market's growth globally. For instance, on August 09, 2022, GE Healthcare collaborated with Nex Cubed to select six digital health start-ups for the inaugural Edison Accelerator in Canada. Also, on July 25, 2022, GE Healthcare introduced ultra-premium ultrasound in the Women’s Health portfolio.

GE Healthcare

Overview:

GE Healthcare is headquartered in Chicago, Illinois, United States, founded in 2004. It is a subsidiary of American Multinational Conglomerate General Electric. It is a leading manufacturer and distributor of diagnostic imaging and radiopharmaceuticals for imaging modalities used in medical imaging procedures.

Product Portfolio:

GE Healthcare’s product portfolio for portable ultrasound has Vscan Air Handheld Ultrasound and Vscan Extend Handheld Ultrasound.

The global portable ultrasound market report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.

 

Frequently Asked Questions

What is the Projected CAGR value of the Portable Ultrasound Market?

Portable Ultrasound Market is expected to grow at a CAGR of 5.7% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Portable Ultrasound Market during 2022-2029.

Which is the fastest growing region in the Portable Ultrasound Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period.

Trending Topics

Intravascular Ultrasound Market

Automated Breast Ultrasound Systems Market

Did not find what you were looking for?Every 7 out of 10 customers request tailored reports. Get yours today!
We collate your requirements.
Our global research team is put into action.
We deliver, and make sure your endeavour is a success!

Buy This Report

20% Discount Applied*



Note*: For "Bundle/Bulk" Subscription of Reports,
please contact: [email protected]

Get your free sample proposal with a single click!

linkedinpinterest