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Global Portable Ultrasound Market Size, Share, Trends, COVID-19 impact & Growth Analysis Report – Segmented By Device Type (Mobile Ultrasound and Hand-Held Ultrasound), Application, End-Users & Region – Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 595
Pages: 175
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Global Portable Ultrasound Market Size (2022 to 2027)

The global portable ultrasound market is estimated to be worth USD 6 billion by 2027 from USD 4.2 billion in 2022, growing at a CAGR of 7.4% during the forecast period.

Global Portable Ultrasound Market Share Insights:

  • Based on the device type, the mobile segment had the major share of the portable ultrasound market in 2021.
  • Based on the application, the cardiovascular segment led the market in 2021.
  • Based on the end-user, the hospital segment dominated the portable ultrasound market in 2021.
  • North America held the leading share among all the regions in the global market in 2021.
  • The portable ultrasound market in Europe is anticipated to grow at a CAGR of 6.57% from 2022 to 2027.
  • The market in the Asia-Pacific region is expected to value at USD 1.49 billion by 2027.

Portable Ultrasound is a device that uses ultrasound technology and is a type of medical ultrasound equipment with a portable benefit over more giant ultrasound machines found in hospitals. Portable ultrasound equipment can be used in various disciplines, including emergency medical, critical care medicine, and musculoskeletal health. Sound waves are used in ultrasound imaging to create images of the inside of the body. It's used to find out what's causing discomfort, swelling, and infection in the body's internal organs and inspect a baby in pregnant women's and newborns' brains and hips. It's also used to guide biopsies, detect cardiac problems, and measure heart attack damage. Because of their portability, portable ultrasound devices are being modified to satisfy growing commercial demands. These machines have several advantages, including decreasing the burden of patients waiting hours for a check-up or transferring from one area to another where devices are accessible. Portable ultrasound equipment is frequently transferred from one procedure location to another.

MARKET DRIVERS:

The growing patient population base in lung diseases and lifestyle-based disorders is one of the key factors propelling the portable ultrasound market worldwide.

Asthma, COPD, lung cancer, acute lower respiratory tract infections, and tuberculosis are a few of the major lung-related diseases. According to American Lung Association, 24.8 million American suffering from asthma, 12.5 million adults in the United States are living with COPD, and 541000 people have lung cancer in the United States. In addition, the increase in accident cases and tumors, common targeted diseases, high risk of surgical procedures for older adults, YOY rise in the geriatric population, and growing demand for minimum invasive diagnostics drive the portable ultrasound market. According to Insurance Institute for Highway Safety, a total of 35766 fatal motor vehicle crashes happened in the United States in 2020. According to United Nations, one in six people will have more than 65 years of age.

Furthermore, technological advancements, such as emergency medicine and primary care, drive market growth. Furthermore, increasing awareness about portable ultrasound is a big plus to the market's growth rate. In addition, the upcoming consumption of low-power and charging technologies will likely push the market boom. In addition, reducing the cost of portable ultrasound devices can further fuel growth opportunities. The growth events like training programs and the rise in ambulatory and remote patient care infrastructure also boost the market's growth rate. Strengthening healthcare expertise by focusing on the healthcare business through divestment strategies and expanding companies' capabilities through acquisitions focusing on innovations of products and technologies will support market growth in the coming years.

MARKET RESTRAINTS:

Strict government regulations, insufficient well-trained and skilled personnel, and equipment costs are majorly hampering the growth of the portable ultrasound market.

In addition, the rise in interest rates and insufficient public health coverage hinder market growth. The high price also prevents the market from reaching its true potential. The result in availability of handheld or portable ultrasound poses a significant problem for the manufacturers who make the devices. However, these challenges can be addressed by training new users and continuing the training support until the initial sale is made.

Impact of COVID-19 on the global portable ultrasound market:

Novel Coronavirus is a worldwide pandemic with a growing number of confirmed cases and deaths. The COVID-19 pandemic has affected almost all countries globally and disrupted economies in various ways. Due to lockdown constraints, the treatment procedures have been canceled or postponed unless it is an emergency. Growing demand for telemedicine and tele-ultrasound techniques during these challenging times, the demand for portable ultrasound devices has increased tremendously. As a result, government organizations invested vast amounts on these platforms to lower the risk of COVID-19.

Moreover, wireless handheld ultrasound presents a fast diagnosis and delivers contactless diagnosis procedures, reducing the virus's transmission rate. This surged the usage of these devices. Healthcare providers use ultrasound systems to organize, monitor and diagnose COVID-19 patients. This led the market shares to grow very high during the pandemic.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Covered

By Device Type, Application, End-User, Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis; DROC, PESTLE Analysis; Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

This market research report on the global portable ultrasound market has been segmented and sub-segmented based on the device type, application, end-user, and region.

Portable Ultrasound Market - By Device Type:

  • Mobile Ultrasound
  • Hand-Held Ultrasound

Based on the device type, the mobile ultrasound devices segment accounted for the largest share of the market in 2021. It is expected to have rapid growth during the forecast period. Factors such as rising demand for ambulatory, growing preference for these devices in the developed regions, and increasing popularity favor the growth of the mobile ultrasound devices segment to register the lead. Due to the advanced technology, ultrasound is done through mobile phones. This scanning process is easy and can be done anywhere and anytime. Scanbooster is the first realistic Ultrasound Simulator app available for iPhone, iPad, and Android. These ultrasound machines are used to generate two-dimensional images.

On the other hand, handheld ultrasound devices are small, lightweight, and designed for diagnostic usage. As a result, the handheld ultrasound devices segment is anticipated to grow with a high CAGR rate. This handheld ultrasound imaging is performed at the bedside. It is easy to use, and its information is used for early detection and treatment. It takes less time to produce the images through ultrasound imaging. It is safe to use and can be done repeated times on their own. It needs only a few basic controls to do the imaging and stores the images in JPEG format. These handheld and portable ultrasound devices are used mainly during the Covid-19 pandemic for treating patients due to imaging capabilities and reducing the spread of infection.

Portable Ultrasound Market - By Application:

  • Cardiovascular
  • Obstetrics and Gynecology
  • Gastric
  • Musculoskeletal

Based on the application, the cardiovascular segment is expected to be the fastest-growing segment during the forecast period based on the application. According to the World Health Organization (WHO), in 2017, over 19 million deaths were caused due to a surge in cardiovascular diseases worldwide. Portable Cardiac ultrasound devices are used to examine different types of heart examinations. This process is also known as echocardiography. This ultrasound​ uses noninvasive high-frequency sound waves to image the heart from various angles. It is a cost-effective device that can buy by ordinary people.

The obstetrics and gynecology portable ultrasound device segment is the second leading segment with the highest CAGR growth rate globally during the forecast period. Vscan Extend™ is a handheld ultrasound device that allows obstetricians/gynecologists to make treatment decisions. It is also used to evaluate the mother's health, including any potential cardiac issues, and to examine the fetus's heart and position. It also measures fluid levels and visualizes uterine fibroids.

Portable Ultrasound Market - By End-Users:

  • Hospitals
  • Diagnostics Centers

The hospital's segment is projected to hold the largest share during the forecast period based on the end-users. Factors such as the rising importance of outpatient surgery and the existence of high-end infrastructure are propelling the market demand. In addition, the availability of highly efficient and skilled professionals in the medical field also propels the market growth.

The diagnostic center's segment is to have the fastest growth over the forecast period. Ultrasound is one of the most widely used diagnostic techniques in diagnostic centers to know how internal body parts work.

Portable Ultrasound Market - By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

The North American portable ultrasound market is expected to govern the global market share during the forecast period. The market in this region is attributed to developed healthcare infrastructure. The government and increasing support take growing initiatives to develop new technologies and implement reimbursement policies in favor of the ordinary people. The United States dominates the portable ultrasound market in the North American region with the upsurge in advanced health infrastructure and increased diseases and infections. An increasing number of critical players manufacturing portable ultrasound devices boost market growth. Canada is predicted to have rapid growth in the Region. Most individuals in Canada use portable ultrasounds connected with artificial intelligence apps that can immediately provide remote diagnostic support after quickly analyzing thousands of previous results. In Canada, ultrasound is one of the most frequently utilized diagnostic technologies. In 2020, Butterfly Network launched Butterfly iQ. Butterfly Network has worked with Health Canada to provide a device that helps people to examine using portable ultrasound. Most Canadians use ultrasound for pregnancy. Due to growing awareness among patients about handheld devices, they are using portable ultrasounds which can be carried in a pocket. This can help most people by knowing the early symptoms of the chronic disease and saving their lives. The Intelligent Network for Point-of-Care Ultrasound project started in Canada to develop and use handheld ultrasound devices that used artificial intelligence. These devices also use machine-learning technology, a cloud-based platform, and an integrated point-of-care network for accurate diagnoses for Canadians.

The European portable ultrasound market was the second-largest region in the global portable ultrasound market in 2021. The Region is accounted to have a significant and promising growth rate during the forecast period. Germany is expected to dominate the European portable ultrasound market over the forecast period. Adopting high technology, raising the aging populace, and expanding healthcare expenses are some factors contributing to the market growth in the region. In Europe, it started in 2011, the European Association of Echocardiography started manufacturing pocket-size imaging devices helpful for the cardiac imaging workflow. This technology has used advanced technology that is used by any person easily. Most manufacturers are working on manufacturing small size of ultrasound devices a good image quality. As a result, the doctors can bring the ultrasound to the patient and conduct the ultrasound examination immediately. The U.K. is holding with the highest share of the portable ultrasound market.

The portable ultrasound market in Asia-Pacific is expected to grow with a surging CAGR rate during the assessment period. Factors driving the market growth are growing discretionary expenses, an upsurge in patient awareness about the usage, and amplifying utilization of ultrasound in hospitals. Japan is expected to lead the market in the APAC region. The growing older population in China drives the portable ultrasound market forward. People over 65 years have a high risk of rib fractures due to falling from heights. These people can use a portable ultrasound to examine ribs and take further treatment steps. In addition, during the Covid-19 pandemic, ultrasound imaging plays an essential role in the treatment of the virus. In 2020, Royal Philips announced that a handheld tele-ultrasound solution would be available in Japan. Philips get clearance from Japan's healthcare authority to introduce the ultrasound solution for compatible handheld devices. It is a high-quality portable ultrasound available all over the country. The portable ultrasound device market is getting advanced in this Region due to the increasing aging population and declining birth rate. It also helps the older people in Japan to avoid traveling long distances.

The Latin American portable ultrasound market is driven by a growing wide range of applications, the latest technologies' adoption, and the prevalence of quick imaging ability and efficiency of the devices. Brazil is to dominate the market in the LATAM region, followed by Mexico. Key manufacturers in Brazil are more focused on manufacturing portable ultrasound devices for different diseases. Keeping awareness programs about this device's usage and how they can predict the disease and get curable are the main points made evident in this program. In Brazil mostly used ultrasound devices for examination during pregnancy. More women who are pregnant are aware of these ultrasound devices to check the baby's position and growth through this particular interval. Due to increasing cardiac and gastro disease in this Region, related ultrasound device has increased their production, which drives the market forward.

The portable ultrasound market in Middle East & Africa is anticipated to hold a moderate share of the global market during the forecast period. Africa is to dominate the portable ultrasound market in the Region. The rising insistence on minimally invasive and noninvasive diagnostic procedures and technological enhancements influences the market growth.

KEY MARKET PLAYERS:

Some of the key market participants dominating the global 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).

RECENT MARKET DEVELOPMENTS:

  • In 2022, G.E. Healthcare launched a major digital update for Vscan Air, i,e, a wireless handheld pocket-sized ultrasound device that provides crystal clear image quality. It is also used for whole-body scanning capabilities. These Vscan Air Fleet Solutions are used at hospitals and health systems.
  • St. Luke's University Health Network select G.E. Healthcare for an $11 million ultrasound purchase in 2022.
  • In 2022, Clarius Mobile Health launched high-performance handheld wireless ultrasound scanners for all medical specialists. This new version is available in the App store or Google store. In addition, new technologies such as artificial intelligence and imaging tools can improve image quality.
  • In 2020, At-Home Ultrasounds were launched for pregnant women. It was the World's First Self-Administered Handheld Tele-Ultrasound Device.
  • In 2020, Royal Philips received clearance from the U.S. FDA to sell a wide range of ultrasound solutions for managing COVID-
  • In October 2019, New Pocket Ultrasound Scanners were smaller, more powerful, and affordable. In addition, Clarius has launched its second-generation wireless ultrasound scanners, making the power and image quality of larger, more expensive systems in a cheap device.
  • In May 2019, Clarius Simplified Ultrasound Telemedicine with its Latest Release. In addition, Clarius released a telemedicine solution called Clarius live.
  • In September 2019, Clarius Mobile Health Announced Partnership with Savvik Buying Group. Clarius recently finalized a partnership, making them the only ultrasound vendor.
  • In November 2018, Clarius Mobile Health Announced Clarius AI Collective Intelligence Ultrasound Platform. The Clarius AI focuses on data and image quality, ease of collection, and a collaborative platform.
  • In June 2018, Analogic Introduced Its Newest R.F. Amplifier for 1.5 Tesla MRI Systems.
  • In June 2018, Analogic Announced the Completion of the Acquisition by an Affiliate of Altaris Capital Partners.

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FAQ's

What was the size of the portable ultrasound market worldwide in 2021?

The global portable ultrasound market size was valued at USD 3.91 billion in 2021.

Which region held the major share in the global portable ultrasound market in 2021?

The North American region accounted for the largest share of the market in 2021.

What is the growth rate of the portable ultrasound market in Europe by 2027?

The European market is anticipated to grow at a CAGR of 7.34% from 2022 to 2027.

What are some of the noteworthy players in the portable ultrasound market?

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) are some of the prominent companies in the portable ultrasound market.

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