The new report by Expert Market Research titled, ‘Global Portable Ultrasound Market Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global portable ultrasound market, assessing the market based on its segments like device types, applications, end users, and regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators and analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2021): USD 4.2 Billion
- Forecast CAGR ( 2023-2028): 7.43%
- Forecast Market Size (2027): USD 6.4 Billion
The portable ultrasound market is being driven by the growing demand for efficient diagnostic mechanisms worldwide. This can be associated with the rise in patient population. The growing awareness regarding health and well-being is leading consumers to invest in periodic health check-ups, which is predicted to catalyze the demand for portable ultrasound devices. Moreover, the portable ultrasound solutions were increasingly deployed during the rampant insurgence of the COVID-19 pandemic, as it provided ease in scanning and diagnosing cardiac and lung complications. These factors are expected to drive the market growth in the forecast period.
Industry Definition and Major Segments
Portable ultrasound is an ultrasound equipment that offers the benefit of ease of mobility over large ultrasound machines, and require less maintenance and space. These devices find increased usage in multiple medical sectors such as cardiovascular, gynaecology, and musculoskeletal, among others. In addition, these machines can be laptop-based, tablet-based or handheld.
The portable ultrasound market, on the basis of device type, can be bifurcated into:
- Handheld Ultrasound Device
- Mobile Ultrasound Device
Based on application, the industry can be segregated into:
- Obstetrics and Gynaecology
On the basis of end user, the market can be categorised into:
- Ambulatory Care Centres
The regional markets for portable ultrasound include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The global portable ultrasound industry is being driven by the rising cases of chronic diseases globally. This can be associated with the growing geriatric population, who is more susceptible to ailments and injury. The growing investments by the governments in the development of healthcare infrastructure are further estimated to positively impact the market growth. Moreover, the rapid technological advancements are anticipated to aid the market growth in the forecast period. For instance, in March 2021, GE Healthcare launched Vscan Air, a new intuitive and wireless ultrasound device. The factors are anticipated to augment the market growth in the coming years.
Key Market Players
The major players in the market are Fujifilm SonoSite Inc., General Electric Company, Hitachi, Fukuda Denshi, Canon Medical Systems Corporation, and Koninklijke Philips, and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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