The portable ultrasound market in North America was worth USD 1.21 billion in 2022 and is estimated to grow at a CAGR of 6.97%, reaching USD 1.69 billion by 2027.
North America is estimated to show promising growth during the forecast period owing to rapid technological advancements and a vast potential market. The new advances in portable ultrasound devices are primarily focused on improving the ruggedness of the devices by making them apt for remote use in addition to dipping the cost involved. Portable ultrasound devices include wireless features like Bluetooth and near-field communication to provide refined home-based healthcare for patients. These wireless devices support an increase in mobility, connectivity, and portability. Portable ultrasound devices are specially designed mobile ultrasound systems for application in small spaces, besides hospital beds, and for faster operations, which is usually a cart or a tablet, allowing easy access to this imaging modality. Because of this beneficial ability, portable ultrasound machines have moved forward to becoming standard equipment in many clinical settings.
YOY growth in the number of people suffering from chronic diseases, refining healthcare infrastructure in developing countries, rising geriatric population, and higher healthcare expenditure are a few factors driving the portable ultrasound market in North America. YOY rise in the cases of ovarian cancer across the North American region, which requires an accurate technique for the determination and frequent monitoring, leading to the high adoption of portable ultrasound devices. Ultrasound is the initial and most crucial imaging modality for detecting ovarian cancer. In addition, these portable machines have proven to be very useful for patients with mobility problems like those of obese or paraplegic. Furthermore, there have been rising minimally invasive diagnostic procedures in recent years. Moreover, due to the rapid technological advancements in this field, such as being a wireless, automated, confidentiality maintaining, high-quality transducers, low-cost system, as compared to a traditional scanner, saving diagnostic time, there has been increased spending on regular personal health check-ups observance. Hence, the aforementioned factors are anticipated to fuel the growth rate of the portable ultrasound market in North America.
On the downside, market growth is being held back by the strict regulatory requirements to approve portable ultrasound devices. Despite the benefits and advantages of portable ultrasound devices, a few shortcomings might restrain the market growth. In addition, the shortage of skilled professionals, stringent regulatory reforms by the governments of North American countries, and the high cost of portable devices, leading to less adoption in most low- and middle-income countries, are likely to hamper the market growth over the forecast period.
This research report on the North American portable ultrasound market has been segmented and sub-segmented into the following categories:
By Device Type:
By End Users:
North America held the leading portion of the global market in 2021. Factors include the presence of the key market players, the increasing number of collaborations between the market players, growing geriatric population in the North American region. The wide availability of range for advanced healthcare infrastructure, an increasing number of product launches, growing preference for minimally invasive surgeries, higher adoption of portable ultrasound devices due to the growing aging population, being more susceptible to illnesses and injuries, rising healthcare expenditures in this region, increase in trauma and accident cases and increase in chronic disease cases are further anticipated to boost the market growth.
The U.S. portable ultrasound market is expected to dominate the North American market during the forecast period owing to more technological advancements, increasing cases of chronic diseases much more than in other countries, and a high concentration of market players. Rising public and private funding for portable ultrasound R&D across the United States, leading to the launch of more new products by key players. Also, many experienced medical professionals' presence has been noticed, probably due to the robust healthcare infrastructure and the launch of cutting-edge products in the United States, which is further enhancing the growth of the portable ultrasound market in North America.
KEY MARKET PLAYERS:
Companies dominating the North American portable ultrasound market profiled in this report are FUJIFILM Holdings Corporation (Japan), Analogic Corporation (U.S.), Esaote S.p.A. (Italy), Koninklijke Philips N.V. (Netherlands), Toshiba Corporation (Japan), Siemens AG (Germany), General Electric Company (U.S.), Samsung Electronics Co., Ltd. (South Korea), Hitachi Ltd. (Japan) and Mindray Medical International Ltd. (China).
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