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Portable Ultrasound Equipment Market

Portable Ultrasound Equipment Market

Portable Ultrasound Equipment Market Analysis By Product (Cart/Trolley-based Ultrasound Devices & Handheld Ultrasound Devices) By Application (Radiology, Gynecology, Musculoskeletal, Cardiovascular, Gastrointestinal & Others) By End-User & Region – Global Insights 2022 to 2026

Portable Ultrasound Equipment Market
FACT7608MR
  • Aug-2022
  • List of Tables : 84
  • List of Figures : 112
  • 170 Pages
  • Healthcare

Portable Ultrasound Equipment Market Outlook (2022-2026)

The global portable ultrasound equipment market is projected to surge ahead at a CAGR of 6.8% from 2022 to 2026. In 2022, the market is valued at US$ 2 billion and is anticipated to reach US$ 2.6 billion by 2026.

Demand for portable ultrasound equipment in cardiovascular applications is expected to rise at a significant pace over the coming years. The need for portable ultrasound equipment in cardiovascular applications is being driven by the rising incidence of heart diseases and ongoing advancements in ultrasound technology for cardiovascular disease treatment to provide better care for patients.

Report Attributes

Details

Portable Ultrasound Equipment Market Size (2022)

US$ 2 Billion

Projected Market Value (2026)

US$ 2.6 Billion

Global Market Growth Rate (2022-2026)

6.8% CAGR

Market Share of Cart/Trolley-based Portable Ultrasound Devices

90%

Key Companies Profiled

  • EchoNous, Inc.
  • Terason
  • Verathon, Inc.
  • Esaote SpA
  • GE Healthcare
  • Canon Medical Systems Corporation
  • Clarius Mobile Health
  • Mindray Medical International Limited
  • Samsung Healthcare

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Sales Analysis of Portable Ultrasound Systems (2017-2021) Vs. Market Estimations (2022-2026)

“Rising Need of Portable Ultrasound Equipment for Early Identification of Diseases”

According to Fact.MR, a market research and competitive intelligence provider, sales of portable ultrasound equipment are projected to increase at a CAGR of 6.8% from 2022 to 2026.

With the use of ultrasound technologies, doctors can create an image of the patient's internal organs to diagnose disease and guide the movement of surgical tools during surgery.

Because of the rising prevalence of chronic diseases such as cancer, endocrine disorders, and heart problems, there is a huge growth in the need for portable ultrasound devices.

The market for portable ultrasound devices is anticipated to expand during the forecast period as a result of factors, including the ageing population worldwide, and the increased need for imaging equipment for the early identification of diseases.

Innovation in portable ultrasound technology is also anticipated to boost the diagnostic ultrasound devices market expansion throughout the forecast period.

Additionally, it is utilized to direct biopsies, find cardiac issues, and quantify heart attack damage. Portable ultrasound devices are being improved to meet rising business needs because of their portability.

Portable ultrasound therapy machines have several benefits, including alleviating the stress placed on patients who must wait for hours for a visit or go from one location to another where devices are available.

Portable ultrasound equipment market forecast by Fact.MR

How is Portable Ultrasound Equipment Market Expansion Being Driven?

“Ever-growing Demand for Effective Medical Equipment & Non-invasive Diagnostic Solutions”

The demand for effective medical equipment is rising as the prevalence of serious illnesses and disorders rises. Portable ultrasound machines are advantageous in this regard for individuals with mobility problems, such as obese or paraplegic patients.

Demand for non-invasive diagnostic solutions is also increasing, this is anticipated to fuel the market growth during the anticipated period.

Additionally, it is anticipated that rising consumer spending on routine health screenings will support industry expansion. The rising use of advanced technology such as artificial intelligence (AI) in these imaging systems is one of the most important developments now being seen in the global market.

Additionally, ultrasound-based quantification is being established using these innovative technologies. Deep learning techniques are being utilized to integrate measurements using software for ultrasound-based imaging analysis. Because of the wide range of medical applications linked to the system, more and more medical practitioners are adopting these gadgets.

Widespread use of these imaging systems in emergency treatment is one of the key factors boosting the market growth. Many patients in need of urgent medical attention regard emergency rooms to be their primary source of care.

The availability of technology and medical equipment in emergency rooms is just one of several variables that affect how quickly patients are treated. A portable ultrasound machine is one of the most sensitive and crucial pieces of medical imaging equipment used by emergency rooms. Due to its non-invasive design, it can provide real-time images and is a crucial diagnostic tool.

An Adaptive Approach to Modern-day Research Needs

What are the Challenging Factors for Market Expansion?

“Lack of Qualified Professionals & Stringent Government Regulations”

While low consumer awareness about portable ultrasound devices and their expensive price are anticipated to stifle market expansion during the projection period. The limited reimbursement for medical imaging is one of the restraints anticipated to restrict the market growth during the forecast period.

Additionally, a sharp increase in unnecessary imaging and incorrect diagnoses might result in regulatory changes that would restrict adoption over the coming years. Therefore, it is anticipated that these factors will limit market growth throughout the projection period.

The market is constrained by stringent government regulations and a shortage of professionals with the necessary training & skills. Additionally, the market expansion is hampered by rising interest rates and insufficient public health coverage.

What Strategies are New Companies Using to Thrive in the Portable Ultrasound Equipment Industry?

“New Market Players Focused on Creating Unique Ultrasound Imaging Solutions”

New companies are focused on investing in mobile health and ultrasound research. An overview of a patient's general health is provided through full-body ultrasound imaging. An option for radiation imaging, particularly for cancer therapies, is the use of ultrasonic waves in medical imaging.

High-intensity focused ultrasound (HIFU), one of the medical imaging technologies, also enables new market entrants to create unique ultrasound imaging solutions that are precise and efficient, in addition to being low-cost diagnostic services.

  • Exo Imaging, a start-up based in the United States, offers an AI-based platform for analyzing ultrasound images. The company's unique micro-machined ultrasonic technology blends semiconductor capabilities with nanoscale piezoelectric materials. Full-body imaging is made possible by this technique with the aid of a silicon-based device. The system is appropriate for a wide variety of diagnostic applications, such as wearable device-based diagnostics and tomography machines.

Which Region Should Portable Ultrasound Equipment Suppliers Invest In?

“Rising Initiatives by Government Organizations to Develop New Technologies in North America”

North America is predicted to have the highest revenue share in the global portable ultrasound equipment market. The market growth is attributable to a well-developed healthcare system.

Rising initiatives by government organizations to develop new technologies and execute reimbursement policies that support the common people.

Increasing adoption of portable physiotherapy ultrasound machines, a rise in chronic diseases, and an increase in government spending on healthcare, all of which are anticipated to support market expansion.

Country-wise Insights

How is the U.S. Portable Ultrasound Equipment Market Faring?

“Increasing Popularity of Fast Imaging Capabilities and Device Efficiency”

The presence of top portable ultrasound equipment manufacturers, the high prevalence of diseases and infections, and the growing emphasis on the creation of novel products are the factors driving the market growth in the U.S.

The market is expanding in the United States because of the growing usage of mobile ultrasound machines & personal ultrasound machines and the growing popularity of fast imaging capabilities and device efficiency.

What is the Growth Outlook for Portable Ultrasound Equipment in China?

“Rising Need for Portable Vascular Ultrasound Machines in Hospitals”

The portable ultrasound equipment market in China is expected to rise at a 7.5% CAGR from 2022 to 2026.

Rapid expansion of the medical device industry, growing awareness about the usage of portable ultrasound equipment among patients, and the rising need for portable vascular ultrasound machines in hospitals are driving the market expansion in China.

Increasing use of micro-ultrasound technology systems and the rise in demand for efficient medical imaging are driving the growth of the portable ultrasound equipment market in China.

Category-wise Insights

Which Product is Likely to Contribute Highest Market Growth?

“Growing Usage of Cart/trolley-based Portable Ultrasound Equipment in Several Medical Settings”

Based on product, the portable ultrasound equipment market is divided into cart/trolley-based ultrasound equipment and handheld ultrasound equipment. Cart/trolley-based portable ultrasound equipment accounts for 90% share of the global market.

Ultrasound devices that are cart/trolley-based can be applied in a variety of medical settings. With the aid of the wheels attached to its bottom, it can be transported from one location to another with ease, earning it the names mobile scanners or wheel scanners.

They are lightweight and have carrying handles on either side, making it simple to move them around fast. They also offer a sizable scanning surface.

Cart/trolley-based portable ultrasound equipment entirely solves the problem of transferring patients by bringing the equipment to the patient's location, whether it's an Intensive Care Unit (ICU) or an emergency room.

Additionally, it facilitates quick diagnosis, therapy selection, and administration, all of which promote patient satisfaction and recovery.

Why is Portable Ultrasound Equipment Most Used in Hospitals?

“Wide Availability of Technologically-advanced Devices and Qualified Healthcare Professionals in Hospitals”

Based on end user, the market is segmented into hospitals, diagnostic centers, ambulatory care centers, and others.

Due to the increasing use of technologically advanced devices and the better availability of qualified healthcare professionals, the hospital segment is anticipated to hold the biggest market share in the portable ultrasound equipment market over the projection period.

The growing understanding of the value of early disease detection and intervention lowers healthcare expenses. This feature has led to an increase in the number of ultrasound systems being installed in hospitals.

The use of portable ultrasound equipment in hospitals is increasing due to the availability of qualified healthcare workers. In order to make decisions when treating patients who are in severe conditions, doctors rely on portable equipment.

Point-of-care ultrasound equipment is probably desired for improved productivity and to deliver time-sensitive medicinal therapies.

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Competitive Landscape

Manufacturers of ultrasound machines employ strategies such as the creation and development of a revised product portfolio and the introduction of new products, industry expansions intended to improve their business operations and current services, and acquisitions of significant health businesses to expand their core offerings quickly to attract a larger consumer base.

For instance :

  • In 2021, GE Healthcare launched Vscan Air, a cordless, pocket-sized ultrasound that offers whole-body imaging abilities, incredibly clear picture clarity, and user-friendly software.

Segments of Portable Ultrasound Equipment Industry Research

  • By Product :

    • Cart/Trolley-based Ultrasound Devices
    • Handheld Ultrasound Devices
  • By Application :

    • Radiology
    • Gynecology
    • Musculoskeletal
    • Cardiovascular
    • Gastrointestinal
    • Others
  • By End User :

    • Hospitals
    • Diagnostic Centers
    • Ambulatory Care Centers
    • Others
  • By Region :

    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

- FAQs -

The global portable ultrasound equipment market is valued at US$ 2 billion.
Sales of portable ultrasound equipment are expected to rise at 6.8% CAGR.
Revenue from portable ultrasound systems is expected to reach US$ 2.6 billion by 2026.
EchoNous, Inc., Terason, and Verathon, Inc. are key suppliers of portable ultrasound equipment.
Demand for portable ultrasound equipment in Germany is expected to rise at 6% CAGR through 2026.

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