Portable Ultrasound Market Growth Forecast 2024 to 2031

 Meticulous Research^®—a leading global market research company, published a research report titled, ‘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.’

According to this latest publication from Meticulous Research®, the global Portable Ultrasound Market is projected to reach $3.8 billion by 2031, at a CAGR of 7.9% during the forecast period 2024–2031. The growth of the portable ultrasound market is driven by factors such as 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 centers and dialysis centers.

The growing preference for portable ultrasound devices over standard ultrasound machines among healthcare professionals and the rising demand from emerging economies are expected to create growth opportunities for players operating in this market. However, factors such as the shortage of skilled professionals, inadequate training programs for healthcare professionals on the use of portable ultrasound devices, reimbursement irregularities, poor image quality, and integration issues of portable ultrasound devices with existing digital health infrastructure pose challenges to the market's growth.

Key Players

The key players operating in 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).

Portable Ultrasound Market: Future Outlook

The global Portable Ultrasound Market is segmented by product (Devices [by Portability {Point-of-care (PoC) Ultrasound (Machines and Transducers), Handheld Ultrasound}, by Technology {2D, 3D & 4D, Doppler}, by Display {Black & White (B/W), Colored}], Gels, Accessories), Application ( OB/GYN, Cardiovascular, Urology, Musculoskeletal, Breast Cancer, Other Applications), End User (Hospitals & Clinics, Diagnostic Imaging Centers, Ambulatory Care Centers, Other End Users) and Geography. The study also evaluates industry competitors and analyzes the market at regional and country levels.

Based on 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 large market share of this segment is attributed to the growing demand for POCUS in emergency departments, increasing preference for ultrasound imaging near patients, the growing prevalence of chronic diseases, and technological advancements in portable ultrasound devices.

Based on portability, the devices segment is further sub-segmented into point-of-care (PoC) ultrasound and handheld ultrasound. The handheld ultrasound segment is expected to register a higher CAGR during the forecast period. This growth is attributed to the development and introduction of new handheld ultrasound devices tailored for specific applications, integration of artificial intelligence (AI) and machine learning, and other technological advancements.

Based on application, the global portable ultrasound market is segmented into OB/GYN, cardiovascular, urology, musculoskeletal, breast cancer, and other applications. In 2024, the OB/GYN segment is expected to account for the largest share of the global portable ultrasound market. The large market share of this segment can be attributed to the growing prevalence of conditions related to women’s reproductive health, reduction in global infertility rates, and high incidence & rising awareness regarding early diagnosis and monitoring of PCOD & PCOS.

According to data published by the WHO in 2023, Polycystic ovarian syndrome (PCOS) is characterized by an ovary with a follicle count ≥12 and a size of 2 or 3 mm3. This syndrome produces side effects related to women’s overall health, such as abnormal hair growth, weight gain, irregular menstrual cycle, infertility, and depression. Almost 70% of women with PCOS have infertility, and this condition is one of the common reasons for female infertility. PCOS occurs in women during their reproductive years, between 18 and 45 years old.

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 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 adoption of advanced imaging modalities in hospitals, preference for low-cost products to control healthcare costs, rising focus on providing point-of-care/bedside service to patients, and the proliferation of healthcare facilities especially in emerging economies.

Portable ultrasound systems, including POCUS and handheld ultrasound, can be used near patient areas and do not require patients to visit special medical imaging centers for the diagnosis of various medical conditions. Moreover, getting a bedside medical imaging facility helps healthcare professionals in early diagnosis and treatment planning, driving the adoption of portable ultrasound in hospitals and clinics.

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, Switzerland, and the Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, Australia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa. China is expected to register the highest CAGR during the forecast period (2024-2031). This growth can be attributed to the rising incidence of orthopedic injuries and cancer, the aging demographic, government initiatives aimed at encouraging early disease detection, the widespread adoption of advanced medical technologies, ongoing improvements in healthcare infrastructure, and increasing healthcare spending.

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Key questions answered in the report-

·         What is the current revenue generated by the portable ultrasound market across the globe?

·         At what rate is the demand for global portable ultrasound projected to grow for the next 5-7 years?

·         What is the historical market size and growth rate for the portable ultrasound market across the globe?

·         What are the major factors impacting the growth of this market at the global and regional levels? What are the major opportunities for existing market players and new entrants in the market?

·         Which segments are creating major traction for the vendors in this market in terms of product, application, and end user?

·         What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the vendors operating in the global Portable Ultrasound Market?

·         Who are the major players in the global portable ultrasound market? And what are their specific products offered in the portable ultrasound industry?

·         What recent developments have taken place in the global portable ultrasound market, and how are these strategic developments impacting the market?

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