Image: The Vscan portable ultrasound (Photo courtesy of GE Healthcare).
The global portable ultrasound devices market is expected to grow at a CAGR of 8.50% over the forecast period of 2018-2024, driven by the increased use of these devices due to their wide range of benefits. However, the high cost of portable ultrasound systems can hinder the market growth. These are the latest findings of Research and Markets, (Dublin, Ireland), a global market research company.
Some of the key benefits offered by portable ultrasound systems are instant diagnosis and no requirement for dedicated space during serious medical environments such as the emergency room (ER) and intensive care unit (ICU), when patients are highly vulnerable while being taken from one room to another for further diagnosis. Additionally, real-time imaging & patient involvement and improved patient convenience facilities is further aiding the growth of the portable ultrasound devices market. However, in addition to the high cost of these devices, the lack of dedicated training programs and the market’s dependency on ambulatory/remote patient care infrastructure will hamper its growth. Nevertheless, a reduction in the prices of these devices is expected to fuel the growth of the portable ultrasound devices market in the near future.
Geographically, North America held the largest share of the global portable ultrasound devices market, in terms of revenue, in 2017. The growth of the North American portable ultrasound devices market is driven mainly by the US on account of its improved healthcare infrastructure, government initiatives and support for technological advancements, and ease of reimbursement in the country. However, the portable ultrasound devices market in Asia Pacific is expected to register the highest CAGR during the forecast period, led by improving health care infrastructure, rising disposable incomes, and growing public awareness levels in the region.
Research and Markets