Image: The vScan handheld ultrasound device (Photo courtesy of GE Healthcare)
The global portable ultrasound equipment market is projected to grow at a CAGR of 6.3% from USD 1.7 billion in 2020 to USD 2.5 billion by 2026, driven primarily by an increasing number of application areas, rising prevalence of diseases, and growing technological advancements.
These are the latest findings of a new market study published by Global Industry Analysts Inc. (San Francisco, CA, USA), a market research company.
Portable ultrasound machines, in general are ideal for small hospitals, PCP offices, obstetric practices, sports medicine clinics, small physician practice and independent clinics. By delivering relative ease in its operation, portable ultrasound devices have the potential to capture significant share in the point-of-care imaging market. Portable ultrasound devices are proving to be extremely useful in applications where space is the constraint and also where mobility of devices is required for example if scanning is required to be carried out on the field.
Portable ultrasound devices are increasingly used in various areas such as musculoskeletal, critical care medicine, and emergency medicine. Adoption of these devices has grown considerably on account of rising number of minimally invasive procedures and for prenatal and antenatal care of mothers who lack access to big healthcare facilities. They are also finding widespread use in urinary bladder dysfunction, abdominal evaluations, gallbladder visualization, DVT surveillance, and vascular access. Increasing AI integration in ultrasound devices, which provide the units with better diagnostics capability is another major factor promoting market growth.
On the basis of product type, the Cart/Trolley-based segment is projected to grow at a 6.4% CAGR to reach USD 2.5 billion by the end of the analysis period while the Handheld segment is expected to record a 4.8% CAGR for the next 7-year period. The Handheld segment currently accounts for a share of 8.1% of the global portable ultrasound equipment market. In terms of applications, cardiologists, intensivists, and emergency medicine physicians have been some of the initial users of handheld ultrasound systems. Over the years, supported by the integration of advanced features, the devices have also gained acceptance among anesthesia, procedural ultrasound, and other specialists.
Geographically, the US currently accounts for a share of 32.52% of the global portable ultrasound equipment market and is estimated to be valued at USD 590.9 million in 2021. China’s portable ultrasound equipment market is forecasted to record a CAGR of 8% through the analysis period to reach an estimated USD 257.5 million in 2026. The portable ultrasound equipment market in Japan and Canada are forecasted to grow at 5.4% and 5.7%, respectively over the analysis period. Within Europe, the portable ultrasound equipment market in Germany is forecasted to grow at approximately 5.9% CAGR while the market in Rest of Europe is expected to reach USD 279.3 million by the end of the analysis period. The developed economies account for a major share of the global portable ultrasound equipment market due to increasing prevalence of various diseases, well-developed healthcare infrastructure, easy reimbursement, and government support for technological developments. Economic growth, increasing healthcare spending, improved standard of healthcare facilities are expected to fuel the demand for new equipment in the developing markets.
Global Industry Analysts Inc.
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