Portable Ultrasound Market by Product (POCUS, Handheld Ultrasound, Transducer, Gels), Technology (2D, 3D, 4D, Doppler), Display, Application (Breast Cancer, MSK, OB/GYN, CVD, Urology), End User (Hospitals, ACC, Imaging Center)

Description

List of Tables

Portable Ultrasound Market by Product (POCUS, Handheld Ultrasound, Transducer, Gels), Technology (2D, 3D, 4D, Doppler), Display, Application (Breast Cancer, MSK, OB/GYN, CVD, Urology), End User (Hospitals, ACC, Imaging Center)-Global Forecast to 2031

The portable ultrasound market is expected to reach $3.8 billion by 2030, at a CAGR of 7.9% from 2024 to 2031.

With extensive primary and secondary research and in-depth analysis of the market scenario, the report studies the key industry drivers, restraints, challenges, and opportunities. The growth of the portable ultrasound market is attributed to the growing adoption of portable medical devices in emergency care settings, the proliferation of hospitals, and the increasing demand for handheld ultrasound devices in ambulatory care and dialysis centers. The growing preference for portable ultrasound devices over standard ultrasound machines among healthcare professionals is expected to create growth opportunities for players operating in this market.

However, reimbursement irregularities, poor image quality, and integration issues of portable ultrasound devices with existing digital health infrastructure pose challenges to the market's growth.

Based on the product, the global portable ultrasound market is segmented into devices, gels, and accessories. In 2024, the devices segment is expected to account for the largest share of the market. The devices segment is sub-segmented into portability, technology, and display. Based on display, the portable ultrasound devices are further segmented into color ultrasound and black & white (B/W) ultrasound. In 2024, the black & white (B/W) ultrasound segment is expected to account for the larger share of the portable ultrasound devices market. This large share is attributed to the low cost, widespread availability, long-standing use in various medical settings, and primary applications in pregnancy for fetal monitoring and diagnosing liver, kidney, and uterine diseases.

Based on application, the global portable ultrasound market is segmented into OB/GYN, cardiovascular, urology, musculoskeletal, breast cancer, and other applications. The musculoskeletal segment is expected to register the highest CAGR during the forecast period of 2024-2031. The high growth of this segment is attributed to the rising geriatric population and increasing musculoskeletal disorders worldwide. Portable ultrasound devices are becoming very common and are extensively used for several musculoskeletal imaging applications, such as guided interventional procedures, detecting soft tissue injuries, point-of-care, procedural guidance, real-time imaging, and AI-assisted imaging. Owing to this, physicians are turning to point-of-care ultrasound for a rapid diagnosis of the patient's injury.

Based on end user, the global portable ultrasound market is segmented into hospitals & clinics, diagnostic imaging centers, ambulatory care centers, and other end users. In 2024, the hospitals & clinics segment is expected to account for the largest share of the global portable ultrasound market. The large market share of this segment is attributed to the increasing hospitalizations due to chronic diseases associated with an aging population, increasing healthcare expenditure, the willingness of hospitals to opt for advanced imaging modalities, rising focus on providing point of care/bedside service to patients, and increasing number of healthcare facilities in emerging economies.

These ultrasound systems are affordable as compared to traditional ultrasounds. The selling price for portable ultrasound usually ranges from USD 30,000 to USD 50,000, while the selling price for traditional ultrasound ranges from USD 50,000 to USD 200,000. Owing to its cost-effectiveness, portable ultrasounds are increasingly being installed in various small-to-medium-sized hospitals and clinics. Also, big multispecialty hospitals are adopting these ultrasounds as they can offer patient monitoring during various surgical procedures. These systems are also used in emergency departments (EDs), intensive care units (ICUs), operating rooms (ORs), delivery rooms/resuscitation rooms, diabetic care wards, and dialysis units.

An in-depth analysis of the geographical scenario of the portable ultrasound market provides detailed qualitative and quantitative insights into five major geographies: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, along with the coverage of major countries in each region. In 2024, North America is expected to dominate the global portable ultrasound market. North America's significant market share can be attributed to the increasing preference for minimally invasive surgery, rising incidence of chronic disorders, growing occurrences of orthopedic injuries, and advancements in ultrasound imaging technology.

Some of the key players operating in the global portable ultrasound market are GE Healthcare Technologies Inc. (U.S.), Siemens Healthineers AG (Germany), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Koninklijke Philips N.V., (Netherlands), Samsung Medison Co. Ltd. (A subsidiary of Samsung Electronics Co. Ltd.) (South Korea), FUJIFILM Sonosite, Inc. (A subsidiary of FUJIFILM Holdings Corporation) (U.S.), ALPINION MEDICAL SYSTEMS Co., Ltd. (South Korea), Esaote S.p.A (Italy), EDAN Instruments, Inc. (China), EchoNous, Inc. (U.S.), Butterfly Network, Inc. (U.S.), Konica Minolta, Inc. (Japan), CHISON Medical Technologies Co., Ltd (China), SonoScape Medical Corp. (China), and Healcerion Co., Ltd. (South Korea).

Scope of the Report:

Portable Ultrasound Market, by Product

Devices
- By Portability
Point-of-care (PoC) Ultrasound
Machines
Transducers
Hand-held Ultrasound
- By Technology
2D
3D & 4D
Doppler
- By Display
Black & White (B/W)
Colored
Gels
Accessories

Portable Ultrasound Market, by Application

OB/GYN
Cardiovascular
Urology
Musculoskeletal
Breast Cancer
Other Applications

(Note: Other Applications include gastric, anesthesiology, neurology, image guidance, and some abdominal applications)

Portable Ultrasound Market, by End User

Hospitals & Clinics
Diagnostic Imaging Centers
Ambulatory Care Centers
Other End Users

(Other End Users include home care settings and academic institutes)

Portable ultrasound market, by Geography

North America
- U.S.
- Canada
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Switzerland
- Rest of Europe (RoE)
Asia-Pacific (APAC)
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific (RoAPAC)
Latin America
- Brazil
- Mexico
- Rest of Latin America (RoLATAM)
Middle East & Africa

Product Code: MRHC - 1041117

1. Introduction

1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency & Limitations
1.4. Key Stakeholders

2. Research methodology

2.1. Research Approach
2.2. Process Of Data Collection and Validation
- 2.2.1. Secondary Research
- 2.2.2. Primary Research/Interviews with Key Opinion Leaders of the Industry
2.3. Market Sizing & Forecasting
- 2.3.1. Market Size Estimation Approach
- 2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study

3. Executive Summary

4. Market Insights

4.1. Overview
4.2. Factors Affecting Market Growth
- 4.2.1. Market Dynamics
  - 4.2.1.1. Rise in the Geriatric Population and the Subsequent Increase in the Prevalence of Chronic Diseases Driving the Adoption of Portable Ultrasound Devices
  - 4.2.1.2. Rising Prevalence of Orthopedic Injuries and Musculoskeletal Disorders Fuels the Market's Growth
  - 4.2.1.3. Emerging Economies and Increasing Preference for Point-of-Care Testing to Provide Opportunities for Market Players
  - 4.2.1.4. Lack of Skilled Professionals Poses a Major Challenge for the Market's Growth
- 4.2.2. Factor Analysis
4.3. Trends
- 4.3.1. Use of Artificial Intelligence in Portable Ultrasound Devices
- 4.3.2. Emergence of Wearable Ultrasound Devices
4.4. Regulatory Analysis
- 4.4.1. North America
  - 4.4.1.1. U.S.
  - 4.4.1.2. Canada
- 4.4.2. Europe
- 4.4.3. Asia-Pacific
  - 4.4.3.1. Japan
  - 4.4.3.2. China
  - 4.4.3.3. India
- 4.4.4. Latin America
- 4.4.5. Middle East
4.5. Pricing Analysis
4.6. Porter's Five Forces Analysis
- 4.6.1. Bargaining Power of Buyers
- 4.6.2. Bargaining Power of Suppliers
- 4.6.3. Threat of Substitutes
- 4.6.4. Threat of New Entrants
- 4.6.5. Degree of Competition

5. Portable Ultrasound Market Assessment-by Product

5.1. Overview
5.2. Devices
- 5.2.1. Portable Ultrasound Devices, by Portability
  - 5.2.1.1. Point-of-Care (PoC) Ultrasound
    - 5.2.1.1.1. Machines
    - 5.2.1.1.2. Transducers
  - 5.2.1.2. Handheld Ultrasound
- 5.2.2. Portable Ultrasound Devices Market, by Display
  - 5.2.2.1. Color Ultrasound
  - 5.2.2.2. Black & White (B/W) Ultrasound
- 5.2.3. Portable Ultrasound Devices, by Technology
  - 5.2.3.1. 2D Ultrasound
  - 5.2.3.2. 3D/4D Ultrasound
  - 5.2.3.3. Doppler Ultrasound
5.3. Gels
5.4. Accessories

6. Portable Ultrasound Market Assessment - by Application

6.1. Overview
6.2. OB/GYN
6.3. Breast Cancer
6.4. Cardiovascular
6.5. Musculoskeletal
6.6. Urology
6.7. Other Applications

7. Portable Ultrasound Market Assessment - by End User

7.1. Overview
7.2. Hospitals & Clinics
7.3. Diagnostic Imaging Centers
7.4. Ambulatory Care Centers
7.5. Other End Users

8. Portable Ultrasound Market Assessment - by Geography

8.1. Overview
8.2. North America
- 8.2.1. U.S.
- 8.2.2. Canada
8.3. Europe
- 8.3.1. Germany
- 8.3.2. U.K.
- 8.3.3. France
- 8.3.4. Italy
- 8.3.5. Spain
- 8.3.6. Switzerland
- 8.3.7. Rest of Europe
8.4. Asia-Pacific
- 8.4.1. China
- 8.4.2. Japan
- 8.4.3. India
- 8.4.4. Australia
- 8.4.5. South Korea
- 8.4.6. Rest of Asia-Pacific
8.5. Latin America
- 8.5.1. Brazil
- 8.5.2. Mexico
- 8.5.3. Rest of Latin America
8.6. Middle East & Africa

9. Competition analysis

9.1. Overview
9.2. Key Growth Strategies
9.3. Competitive Benchmarking
9.4. Competitive Dashboard
- 9.4.1. Industry Leaders
- 9.4.2. Market Differentiators
- 9.4.3. Vanguards
- 9.4.4. Emerging Companies
9.5. Market Share Analysis (2023)
- 9.5.1. Handheld Ultrasound Market Share Analysis (2023)
  - 9.5.1.1. GE Healthcare Technologies Inc.
  - 9.5.1.2. Butterfly Network, Inc.
  - 9.5.1.3. Koninklijke Philips N.V.
- 9.5.2. Point-of-Care Ultrasound Market Share Analysis (2023)
  - 9.5.2.1. GE Healthcare Technologies Inc.
  - 9.5.2.2. Koninklijke Philips N.V.
  - 9.5.2.3. Siemens Heatlhineers AG
  - 9.5.2.4. Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

10. Company Profiles (Company Overview, Financial Overview, Product Portfolio, Strategic Developments, and SWOT Analysis)

10.1. GE Healthcare Technologies Inc.
10.2. Siemens Healthineers AG
10.3. Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
10.4. Koninklijke Philips N.V.
10.5. Samsung Medison Co. Ltd. (A Subsidiary of Samsung Electronics Co. Ltd.)
10.6. FUJIFILM Sonosite, Inc. (A Subsidiary of FUJIFILM Holdings Corporation)
10.7. ALPINION MEDICAL SYSTEMS Co., Ltd.
10.8. Esaote s.p.A
10.9. EDAN Instruments, Inc.
10.10. EchoNous, Inc.
10.11. Butterfly Network, Inc.
10.12. Konica Minolta, Inc.
10.13. CHISON Medical Technologies Co., Ltd.
10.14. SonoScape Medical Corp.
10.15. Healcerion Co., Ltd.

(Note: SWOT Analysis will be provided for the Top 5 Companies)

11. Appendix

11.1. Available Customization
11.2. Related Reports