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I AgreeAnalysis of Wireless Handheld Ultrasound Devices market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Fact.MR has released its wireless handheld ultrasound devices industry report, according to which, the market expanded at over 14.5% CAGR during 2016 – 2020 and reached a market valuation of US$ 549 Mn. This detailed research has estimated a growth rate of 16% CAGR over the next ten years, generating US$ 2.2 Bn absolute dollar opportunity over the same period. North American countries are anticipated to open up larger opportunities for wireless handheld ultrasound device manufacturers as well as suppliers over the decade.
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As per the industry research by Fact.MR – a market research and competitive intelligence provider, historically, from 2016 to 2020, the global wireless handheld ultrasound devices market increased at around 14.5% CAGR, wherein, the United States, Canada, Germany, United Kingdom, China, and Japan held a significant share in the global market.
Sales of wireless ultrasound scanners have been rapidly increasing owing to their small size and easy to operate functions. Moreover, physicians and clinicians from different fields are preferring to carry these devices to operate patients at point of care. Demand from college and universities is expected to surge owing to lower costs.
These factors are expected to drive demand for wireless handheld ultrasound devices at 16% CAGR from 2021 to 2031.
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Increase in population has opened the gates of opportunities where private as well as public physicians have started their clinics in both, developing as well as developed nations. Demand for wireless handheld ultrasound devices in hospitals has increased considerably in the recent past.
In the last few decades, the scenario has changed, as earlier, treatment of patients with acute symptoms such as shortness of breath or chest pain that can be caused by various conditions was considered a symbol of primary care, but now, that is not true. In its place, primary care providers deliver chronic disease and preventive care to established patient panels. Their daily schedule remains packed with brief visits where they require basic medical equipment to examine patients.
In both, emergency as well as normal cases, they experience a lack of advanced medical tools to examine patients. As technology has evolved, primary care providers have started adding handheld ultrasound machine with wireless systems in their tool cases to understand problems without wasting time in taking patients to hospitals and using traditional big ultrasound machines. As such, demand for pocket ultrasound devices is expected to increase over coming decade.
The Urgent Care Association, in its 2019 benchmarking report, suggested a 9.6% jump in urgent care centres with 9,616 centres in the U.S. as compared to 2018. In 2013, there were nearly 6,100 urgent centres, which grew rapidly in the last few years, including retail clinics, which experienced moderate growth.
Demand for handheld wireless handheld ultrasound devices has increased drastically due to the need for clinicians and physicians to have control over patients’ health, which is expected to boost sales over the coming years.
While the ultrasound market has multiplied is revenue in the recent past, it also passed on the ripple effect onto the demand for wireless handheld ultrasound devices. Ultrasound devices have traversed a long way in terms of technological upgradations from wireless handheld ultrasound 2D scanners to wireless handheld ultrasound 3D scanners.
Ultrasound technology has been improving drastically in the last few years due to healthcare reforms as well as advancements in imaging technology. As a result, image quality has improved rapidly. Earlier, images were pixelated and fuzzy, but now, technology is creating more defined, clearer pictures. Processing speed has also improved due to real-time computers and handheld mobile devices, owing to which diagnosis accuracy has improved.
Moreover, volumetric ultrasound technology is in the evolving phase. Volumetric ultrasound is used to generate images with detailed and more in-depth analysis. These are ultrasound devices that are helping identify cancerous tumors, analyze cardiac functionality, blood flow, etc.
Furthermore, advanced modes such as dopplers with colour, power, pulsed wave, continuous wave (CW) modes etc., are being used in latest wireless handheld ultrasound devices, which is helping physicians attend to patients in a better way.
Advanced technology such as CEUS (contrast-enhanced ultrasound) is limited to Canada, Europe, and limited usage in the United States. This is expected to replace the need for MRI or CT scans in detecting cancer and other major medical problems. This technology is used for heart and digestive tract scanning.
Hence, day-by-day advancements in technology are expected to increase the use of wireless handheld ultrasound devices in the near future.
North America is projected to offer significant opportunity for wireless handheld ultrasound device suppliers over the decade. North America is expected to showcase over 30% of the projected global absolute dollar opportunity in the market.
Key reason for this high market share is its highly developed healthcare sector. Demand for wireless handheld ultrasound devices in the U.S. is expected to increase at a CAGR of around 16% during 2021 - 2031. Government support to the healthcare sector in the U.S. coupled with medical reimbursements have been further propelling demand for wireless handheld ultrasound devices in the country.
Wireless handheld ultrasound devices of ultrasound depth less than 10 cm accounted for over 40% revenue share. However, over the coming years, demand for devices with ultrasound depth between 10 and 20 cm is expected to grow at a faster pace.
Wireless handheld ultrasound devices having compatibility with multiple operating systems are expected to account for over 3/4 revenue share by 2031. Android and iOS have been the key operating systems for smartphones, where they account for over 80% and around 15% shares respectively, with marginal shares for other operating systems.
Wireless handheld ultrasound device manufacturers have been trying to make their devices interoperable as customers tend to switch between devices with a different operating system.
On the back of these estimates, the wireless handheld ultrasound devices with multiple operating systems segment is projected to increase 816 BPS by 2031.
Wireless handheld ultrasound device demand in the second quarter of 2020 was influenced significantly around the globe due to COVID19, and thus, a surge in annual growth was observed. Especially, demand for wireless handheld ultrasound devices for cardiovascular disorders revved up during the pandemic.
As COVID-19 affects the lungs and respiratory system, there was high demand for ultrasound devices to analyze the lungs and other body parts. The Germany and U.K. governments made long-term contracts with leading wireless handheld ultrasound device manufacturers during the pandemic.
Besides, Healcerion Co., Ltd. signed a contract with the Russian government to supply portable ultrasound diagnostic devices for emergency response to the novel coronavirus infection (COVID-19).
Surge in market value in 2020 was around US$ 12.1 Mn. The market surged across all regions during the pandemic owing to increase in expenditure on healthcare as well as preparation of healthcare fraternities for further increase in COVID-19 cases.
Over the coming years as well, year-on-year growth post pandemic is expected to remain higher than year-on-year growth that was projected before the pandemic outbreak.
Tier 1 manufacturers of wireless handheld ultrasound devices - Hologic, Siemens Healthineers AG, and Lepu Medical Technology - accounted for 46% market share in 2020. However, tier-2 and 3 are significantly fragmented, wherein, 20 companies together account for around 54% share of the global market.
Market share of tier-2 and 3 players is expected to increase during the forecast period as regional players are looking to expand their footprint into international markets.
Some of the key recent developments in the market are as follows:
Other recent developments related to companies offering wireless handheld ultrasound devices have been tracked by the team of Fact.MR, which are available in the available in the full report.
Attribute |
Details |
Market size value in 2021 |
USD 549 Million |
Market forecast value in 2031 |
USD 2.2 Billion |
Growth Rate |
CAGR of 16% from 2021 to 2031 |
Forecast Period |
2021-2031 |
Historical Data Available for |
2016-2020 |
Market Analysis |
Units for Volume and US$ Mn for Value |
Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
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The global wireless handheld ultrasound devices market is worth more than US$ 549 Mn at present.
In terms of value, the global market projected to surge at a CAGR of around 16% during 2021 – 2031.
Value sales of wireless handheld ultrasound devices increased at a CAGR of 14.5% during 2016 – 2020.
North America is the largest market holding more than 1/3 of the total market share.
In terms of value, East Asia accounts for fastest market growth as compared to other regions, projected to balloon at nearly 17% CAGR.
Sales of wireless handheld ultrasound machine in China are projected to expand at a CAGR of around 18%% during 2021 – 2031.
Key companies’ focus on integration of artificial intelligence in ultrasound devices has been the latest trend in the wireless handheld ultrasound devices market.
Application of wireless handheld ultrasound devices in gynaecology has advanced significantly, which has boosted industry revenue.
Top 5 manufacturers of wireless handheld ultrasound devices account for around 62% share in the market.
Top 5 countries driving demand for wireless handheld ultrasound devices are the United States, Germany, United Kingdom, Japan, and China.
Japan and South Korea together correspond to around 28% demand in East Asia, which is expected to increase at around 15% and 11% CAGRs, respectively.