PUBLISHER: 360iResearch | PRODUCT CODE: 1494668
PUBLISHER: 360iResearch | PRODUCT CODE: 1494668
[198 Pages Report] The Handheld Ultrasound Devices Market size was estimated at USD 1.00 billion in 2023 and expected to reach USD 1.08 billion in 2024, at a CAGR 7.48% to reach USD 1.67 billion by 2030.
Handheld ultrasound devices are compact, portable medical tools that use high-frequency sound waves to create visual images of the inside of the body. These devices are significantly smaller than traditional ultrasound machines, making them highly portable and easy to use in various settings, including clinics, emergency rooms, and field medical units. The major factors that contribute to the expanding use of these devices include their portability and affordability. The growing need for rapid diagnostics in point-of-care settings is further driving the need for handheld ultrasound devices. High cost of development and accuracy issues with handheld ultrasound devices hampers the market growth. Rising advancements in technologies that improve the image quality and battery life of handheld ultrasound devices, making them more appealing to healthcare providers are expected to create opportunities for market growth. The continued miniaturization of technology and integration with artificial intelligence for automatic image interpretation is expected to broaden the application fields and user base of these devices.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 1.00 billion |
Estimated Year [2024] | USD 1.08 billion |
Forecast Year [2030] | USD 1.67 billion |
CAGR (%) | 7.48% |
Regional Insights
In the Americas, the handheld ultrasound device market is highly developed due to the well-established healthcare infrastructure and the high adoption of new technologies. There is a significant focus on point-of-care medical services, which fuels the demand for handheld ultrasound devices. These devices are widely used in emergency medicine, outpatient care, and by general practitioners. The Asia-Pacific region is experiencing rapid growth in the handheld ultrasound device market, primarily driven by increasing healthcare expenditures and rising awareness about the benefits of portable diagnostic solutions in countries including, China, Japan, and Australia. This region also benefits from improvements in healthcare infrastructure and growing populations. Europe is a strong market for handheld ultrasound devices, characterized by high healthcare standards and extensive adoption of advanced medical technologies. Western European countries, in particular, demonstrate significant market presence due to their well-developed healthcare systems. The Middle East and Africa are emerging markets where growth is expected to be driven by improving healthcare facilities, economic development, and an increasing number of medical professionals.
Market Insights
The market dynamics represent an ever-changing landscape of the Handheld Ultrasound Devices Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Handheld Ultrasound Devices Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Handheld Ultrasound Devices Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Introduction of Butterfly iQ3, Advancing Point-of-Care Ultrasound with Innovative Technologies
Butterfly Network has launched the Butterfly iQ3, marking the third generation of its point-of-care ultrasound (POCUS) system in the United States. Approved by the FDA, the Butterfly iQ3 integrates the cutting-edge P4.3 ultrasound-on-chip technology, which boasts the highest digital data transfer rate globally. This new model provides superior image quality with doubled processing power compared to its predecessor, the Butterfly iQ+. [Published On: 2024-02-14]
Mindray Revolutionizing Point-of-Care Diagnostics with Wireless Handheld Ultrasound Technology
Mindray has unveiled the TE Air Wireless Handheld Ultrasound, a pioneering portable device designed to enhance ultrasound access across various medical settings. This innovative device stands out as the first handheld ultrasound capable of connecting directly with mobile devices and the touch-based TE X Ultrasound System, thereby broadening its application significantly. [Published On: 2023-09-07]
GE HealthCare Launches Vscan Air SL: Innovations in Handheld Ultrasound for Enhanced Point-of-Care Diagnostics
GE HealthCare has introduced its newest product, the Vscan Air SL, a handheld, wireless ultrasound device optimized for swift cardiac and vascular evaluations directly at the point of care. This addition to the Vscan family incorporates advanced technologies such as SignalMax and XDclear, ensuring superior imaging with high penetration, resolution, and sensitivity through its industry-leading single-crystal transducer technology. [Published On: 2023-08-25]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Handheld Ultrasound Devices Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Handheld Ultrasound Devices Market, highlighting leading vendors and their innovative profiles. These include Aco Healthcare Co., Ltd., Alpinion Medical Systems Co., Ltd. by ILJIN Holdings Co.,Ltd., ASUSTeK Computer Inc., Becton, Dickinson and Company, BMV Medtech Group Co., Ltd., Butterfly Network Inc., Chengdu Huisheng Technology Co., Ltd., CHISON Medical Technologies Co., Ltd., Clarius Mobile Health Corp., Dawei Medical, DGH Technology Inc., Draminski SA, EchoNous Inc., Esaote SpA, FUJIFILM Sonosite, Inc., GE HealthCare Technologies, Inc., Healcerion Co., Ltd., Interson Corporation, Konica Minolta, Inc., Leltek Inc., Mindray Medical International Limited, Promed Technology Co., limited, Royal Philips, Samsung Medison Co., Ltd., SHENNONA Co., Ltd., Shenzhen Landwind Industry Co., Ltd, Siemens AG, SIFSOF LLC, Socionext Inc., Sonoscanner SARL, SonoStar, Swissray Global, Telemed Medical Systems Srl, Terason by Teratech Corporation, VINNO Technology Co., Ltd., Wuhan Youkey Bio-Medical Electronics Co., Ltd., and Xuzhou RuishengChaoying Electronic Technology Co., Ltd..
Market Segmentation & Coverage
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