Portable Ultrasound Devices Market
Number of pages: 100 | Report Format: PDF | Published date: 17 March, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market size value in 2022 |
US$ 1.74 billion |
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Revenue forecast in 2031 |
US$ 2.81 billion |
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Growth Rate |
CAGR of 5.50% from 2023 to 2031 |
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Base year for estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments covered |
Device Type, Technology, Application, End User, and Region. |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global portable ultrasound devices market was valued at US$ 1.74 billion in 2022 and is expected to register a revenue CAGR of 5.50% to reach US$ 2.81 billion by 2031.
Market Fundamentals
Portable ultrasounds are medical imaging equipments which are lightweight and compact, making it easier to carry and use in a variety of medical settings. Unlike typical ultrasound equipment, which are frequently huge and immobile, portable ultrasound devices can be brought to the patient's bedside or to rural places where medical services are limited.
Portable ultrasound devices provide images of internal body structures by using high-frequency sound waves. These images can aid doctors and other healthcare professionals in the diagnosis and treatment of a wide range of medical diseases, including pregnancy and fetal development, as well as heart disease, cancer, and musculoskeletal injuries. Handheld ultrasound technology has grown in popularity in recent years, mainly to advancements in downsizing and computational capability. Portable ultrasound equipment also provides high-quality pictures that compete with bigger, more stationary versions. As a result, they have become an invaluable resource for healthcare workers working in a variety of settings, from emergency rooms and critical care units to rural clinics and distant communities.
As portable ultrasound technology improves and becomes more inexpensive, more medical practitioners are expected to adopt it, particularly in places where regular ultrasound devices are impractical or unavailable. This will raise demand for portable ultrasound equipment, perhaps leading to further innovation and research in this sector.
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Market Dynamics
The global portable ultrasound devices market is primarily driven by the increasing demand for accurate and instant diagnoses. Portable ultrasounds aid in providing accurate and timely diagnostics regardless of where the patient is located. Portable ultrasound machines can be transported allowing physicians to examine patients thoroughly, resulting in an accurate and rapid diagnosis. Furthermore, the easy availability of portable ultrasound allows for not only rapid diagnosis but also fast treatment decisions and administration, which improves patient recovery.
Additionally, technological advancements in portable ultrasound devices are anticipated to increase the revenue share of the portable ultrasound devices market. For instance, in September 2021, Kosmos is a revolutionary portable, AI-guided ultrasound scanner for high-resolution imaging of the heart, lungs, and abdomen. Kosmos is the first patented hybrid point-of-care ultrasound (POCUS) clinical instrument meant to increase diagnostic confidence at the bedside, developed by the US-based medical equipment company EchoNous. The device’s powerful imaging capabilities allow it to detect a variety of lung and cardiac problems, including bilateral lung, infiltrates, subpleural consolidations, irregular and thicker pleural lines, B line-like abnormalities, and cardiac indications associated with myocardial dysfunction.
Traditional ultrasound devices are larger and more expensive than portable ultrasound devices. Portable ultrasound devices are cost-effective, allowing doctors, general practitioners, and specialists to buy separate equipment for each clinic. The easy availability of economical ultrasound imaging with portable ultrasound devices reduces overcrowding in hospitals and clinics while also helping to keep ultrasound expenses low, making it a vital tool for offering affordable healthcare.
However, the picture quality acquired from portable ultrasound is inferior when compared to images produced from standard ultrasound, this feature may limit the market potential. Moreover, less awareness about portable ultrasound in low-income nations such as the Middle East and Africa where healthcare settings are not advanced can reduce the market revenue growth to some extent.
Market Ecosystem
The global portable ultrasound devices market is analyzed from five perspectives: Device Type, Technology, Application, End User, and Region.
Portable Ultrasound Devices Market by Device Type
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Based on device type, the global portable ultrasound devices market is segmented into laptop-based and handheld.
The handheld ultrasound devices segment has dominated the global portable ultrasound devices market in 2022. The handheld ultrasound units can improve accessibility as these are less expensive. Moreover, hand-held portable ultrasound devices have the potential to improve medical education and patient care by moving ultrasound to classrooms, and clinics, in rural areas, and resource-limited countries.
The laptop-based segment is anticipated to show lucrative growth in the forecast period. This is because it is lightweight and compact, making them easy to transport and use in various medical settings. Moreover, laptop based portable ultrasound devices are more versatile it can be used for a variety of medical applications, including abdominal, vascular, cardiac, and musculoskeletal imaging. Laptop based portable ultrasound devices can be easily integrated with telemedicine platforms, allowing medical professionals to collaborate and provide remote consultations.
Portable Ultrasound Devices Market by Technology
Based on technology, the global portable ultrasound devices market is segmented as 2D ultrasound, 3D & 4D ultrasound, doppler ultrasound, and high-intensity focused ultrasound.
The doppler ultrasound segment has accounted majority of the global portable ultrasound devices market revenue share in 2022. This is majorly owing to the capability of doppler technology which allows for the assessment of blood flow within the body without the need for invasive procedures, making it a safe and more comfortable option for patients. Additionally, this technology allows medical practitioners to examine in real-time, enabling quick diagnosis and decision-making. Portable ultrasound devices with doppler technology are compact and lightweight, making them easy to transport and use in remote locations or at the point of care.
The 3D & 4D ultrasound technology is anticipated to increase the market revue growth in the forecast years. The 3D & 4D technology can be beneficial, particularly in remote or emergency settings. The 3D & 4D technology in portable ultrasound devices makes it possible to use ultrasound technology more conveniently and effectively. Additionally, the 3D & 4D capabilities give an even more thorough and in-depth view of the structure, which helps with diagnosis and planning treatments.
Portable Ultrasound Devices Market by Application
Based on application, the global portable ultrasound devices market is segmented as obstetrics/gynecology, cardiovascular, urology, gastric, musculoskeletal, and others.
The obstetrics/gynecology segment accounted majority of market revenue growth in 2022. Portable ultrasound devices allow for easy access to obstetric and gynecologic imaging in various settings, such as rural areas and home visits. Portable ultrasounds are generally less expensive than traditional ultrasound machines, making them a more budget-friendly option for smaller clinics or hospitals. Additionally, pregnant women and gynecologic patients can be assessed in a more comfortable environment, reducing stress and anxiety. Furthermore, portable ultrasound devices can facilitate remote monitoring of high-risk pregnancies, enabling timely interventions and reducing the risk of complications.
Portable Ultrasound Devices Market by End User
Based on end user, the global portable ultrasound devices market is segmented as hospitals & clinics, home care, and others.
The hospitals & clinics segment has dominated the global portable ultrasound devices market in 2022. Portable ultrasound machines have become increasingly popular in hospital settings due to their ease of use and ability to provide quick diagnostic information. They are particularly useful in emergencies where the examination of a patient's condition needs to be assessed quickly. Moreover, portable ultrasound devices offer several advantages in hospitals and clinics, including increased accessibility to imaging technology, and improved patient outcomes. Additionally, these devices are cost-effective and can be used in a variety of settings, such as emergency rooms, operating rooms, and intensive care units.
Portable Ultrasound Devices Market by Region
Based on the region, the global portable ultrasound devices market is segmented into North America, Europe, Asia Pacific, Latin America, & the Middle East & Africa.
North America dominated the portable ultrasound devices market with the largest revenue share. This is attributed to the presence of prominent companies and the rising healthcare standards in North America. Moreover, the presence of prominent companies in North America introducing many technologically advanced products to the market is anticipated to increase the global portable ultrasound devices market. The emerging awareness of portable ultrasound in home healthcare can also influence the market.
The European portable ultrasound devices market is characterized by the increasing adoption of portable ultrasound devices coupled with rising healthcare standards. Additionally, the increasing demand for immediate diagnosis is also increasing the adoption of portable ultrasound devices in Europe. The European government is making significant efforts to promote and support research and development.
Asia Pacific is predicted to be the fastest-growing geographic region in the portable ultrasound devices market over the forecast period. This growth can be attributed to the increasing densities of healthcare settings. Moreover, the demand for portable ultrasound is also increasing as trends of telemedicine consultations in the Asia Pacific are increasing. Increasing government focus on advancing healthcare infrastructure is also influencing the market in the Asia Pacific.
Competitive Landscape
The portable ultrasound market has a moderately competitive global market due to new product introductions, mergers, and acquisitions. The launch of new devices, securing permission for such items, and participating in other activities such as awareness initiatives are some of the primary development tactics that many organizations are focusing on. Furthermore, the market classified technological advancement and easy accessibility as superior growth strategies.
Some of the prominent companies having the largest revenue share in the global portable ultrasound devices market are,
Strategic Developments
The global portable ultrasound devices market is expected to grow at a revenue CAGR of 5.50% in the forecast period.
Siemens Healthineers AG, Hitachi Ltd, Canon Medical Systems Corporation and Shenzhen Mindray Bio-medical Electronics Co., Ltd. Bioscience Inc. are a few key players in the global portable ultrasound devices market.
The handheld segment has the largest revenue share in the global portable ultrasound devices market.
Asia Pacific region is expected to observe the highest global portable ultrasound devices market growth in the forecast period.
The global portable ultrasound devices market was valued at US$ 1.83 billion in 2023.
*Insights on financial performance are subject to the availability of information in the public domain
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Snehal Deshmukh
Principle Consultant
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