PUBLISHER: Arizton Advisory & Intelligence | PRODUCT CODE: 1208910
PUBLISHER: Arizton Advisory & Intelligence | PRODUCT CODE: 1208910
The global portable ultrasound market is expected to grow at a CAGR of 6.91% from 2022 to 2028
The major driving factors for the global market are the increasing continuum of applications of portable ultrasound, increasing technological advancements, and the growing prevalence of chronic diseases. The introduction of portable ultrasound has a variety of applications in many emerging care settings such as critical care, emergency medicine, long-term care, ambulatory surgical settings, anesthesiology, musculoskeletal, and prehospital.
MARKET TRENDS & DRIVERS
Increasing Demand for AI-Based Portable Ultrasound Device
The focus is on AI-powered portable ultrasound, attracting notable investments and a lot of attraction. In 2021 alone, Exo has secured USD 220 million for its AI/ultrasound platform. Manufacturers of wearable ultrasound devices are integrating AI and machine learning into their products to recognize anatomy and provide instant body recognition. Clarius Mobile Health, for example, introduces the ability for handheld ultrasound systems to recognize body anatomy scanned by a physician automatically.
Future Expansion of Care Settings
SEGMENTATION INSIGHTS
INSIGHTS BY PRODUCT
The compact product accounts for the largest share of 85.37% in the global portable ultrasound market; the large share is attributed to its use in all medical specialties like medical imaging, musculoskeletal, cardiology, OB/GYN, vascular, urology, and internal medicine. These systems are acquainted with all the advanced features and technological advancements such as 4D, 5D, and color Doppler. These systems have Digital Imaging and Communications in Medicine (DICOM), allowing flexibility when connecting to picture archiving and communication systems (PACS). Technicians can also export patient data by DVD and USB media with an integrated DICOM viewer.
Koninklijke Philips has a wide range of compact ultrasounds and holds the second-highest share in the global portable ultrasound market. Some products from Koninklijke Philips are CX50 xMATRIX, Sparq, Affiniti 30, and Affiniti 50.
Segmentation by Product
INSIGHTS BY APPLICATION
The global portable ultrasound market is segmented into general imaging, cardiovascular, OB/GYN, and others. In 2022, general imaging accounted for 34.87% of the global market share. General Imaging is the first category of ultrasound equipment and refers to ultrasound equipment that can provide imaging for general or most common types of diagnostic tests. General imaging portable ultrasound can provide images suitable for abdominal, musculoskeletal, vascular, and urology applications and small parts.
Radiologists and many other physicians either scan directly with a general imaging ultrasound machine or have a sonographer scan for them. Liver, scrotal, thyroid, pancreas, gallbladder, bladder, kidney, spleen, and hip scans are done using a general imaging portable ultrasound. Vendors like Philip, Esaote, and others offer a wide range of portable ultrasound devices used in general imaging. For instance, Esaote offers high-quality imaging with eHD Technology, Fusion Imaging, and Elaxto-Elastosonography Imaging and contrast media procedures available in compact ultrasound and exceptional performing portable units to diagnose.
Segmentation by Application
INSIGHTS BY END-USER
Hospitals are the largest end-user segment in the global portable ultrasound market, accounting for a share of 38.23%. Imaging developments in healthcare enable physicians to increase their productivity and improve efficiency. Incorporating portable ultrasound technologies in hospitals has increased over recent years. The prevalence of chronic illnesses, such as cancers, cardiovascular conditions, neurological diseases, respiratory diseases, and many other medical conditions, increases the work pressure on radiologists and departments with conventional ultrasound systems. The increased load of diseased patients requiring imaging activities compels hospital radiologists to adopt portable ultrasounds.
Segmentation by End-Users
GEOGRAPHICAL ANALYSIS
APAC constituted the highest share of 36.11% in the global portable ultrasound market in 2022. The region will likely witness large acceptance of portable ultrasound devices if quality healthcare is provided to large population segments. Chronic diseases, aging-related conditions, and maternal mortality are the main contributor to the growth of the portable ultrasound market in the region.
China and India are the two major revenue contributors in the regional market, as both countries have the presence of huge populations along with targeted patient demographics. The dominance of China in the global portable ultrasound market is mainly attributable to the presence of a large number of portable ultrasound manufacturers, a rise in the number of hospitals and diagnostic centers, awareness of advanced healthcare technologies, strong economic growth, and healthcare reforms.
Segmentation by Geography
VENDOR LANDSCAPE
The global portable ultrasound market is moderately dynamic, with a few international and several regional players offering a comprehensive range of portable ultrasounds. GE Healthcare, Koninklijke Philips, Siemens Healthineers, Canon Medical Systems, Mindray, and Fujifilm SonoSite are the key players in the market. Several international players focus on developing innovative products equipped with advanced technologies, such as AI, to expand their product portfolio. Major companies focus on remaining competitive in the market with investments in R&D initiatives.
Key Company Profiles
Other Prominent Vendors
KEY QUESTIONS ANSWERED
LIST OF TABLES