The global point-of-care ultrasound (PoCUS) devices market is projected to grow at a CAGR of 7.9% from more than USD 2 billion in 2020 to over USD 4.5 billion by 2030, driven by the booming geriatric population across the world.
These are the latest findings of Research and Markets (Dublin Ireland), a leading source for international market research and data.
The COVID-19 impact on the PoCUS devices market has been negative due to the closure of manufacturing facilities. Moreover, almost all the healthcare resources were diverted to the fight against the pandemic, which is why most diagnostic imaging facilities were shut down, except for COVID patients.
Based on type, the diagnostic segment holds the largest share of the PoCUS devices market as such devices are being increasingly utilized for evaluating left ventricular systolic function and diagnosing severe mitral regurgitation, pericardial effusion, pleural effusion, pulmonary edema, and pneumothorax. Over the coming years, the portability segment of the PoCUS devices market will be dominated by the trolley/cart-based segment as these devices find widespread usage in hospitals where they can be easily taken from one place to another, such as between radiology departments and emergency rooms (ER).
Based on application, the emergency medicine segment is expected to record the highest CAGR in the PoCUS devices market during the forecast period. As shifting the patient from the ER to the ultrasound ward can result in loss of valuable time, portable ultrasound devices are being used at the bedside to obtain immediate clinical information, increase efficiency, improve patient safety, and decrease the risk of complications.
Geographically, Europe generates the highest revenue in the global PoCUS devices market due to the increasing incidence of chronic diseases, healthcare expenditure, and geriatric population in the region, as well as rapid technological advancements in radiology. According to the UN, the region's geriatric population will increase from 140.4 million in 2019 to 199.9 million by 2050, thus driving the volume of ultrasound procedures. Asia-Pacific (APAC) will be the fastest-growing PoCUS devices market in the years to come owing to the rising demand for point-of-care treatment and diagnosis, increasing healthcare expenditure, and surging cases of lifestyle-associated and chronic diseases. Moreover, Asia’s aging population is set to reach 0.95 billion by 2050 from nearly 0.4 billion in 2019, according to the UN.
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