Published: August 2021 | Report Code: LS10763 | Available Format: PDF | Pages: 183
The global point-of-care ultrasound devices market generated $2,186.8 million revenue in 2020, and it is expected to grow at a CAGR of 7.9% during the forecast period (2021–2030). The rising healthcare costs, booming aging population, developing healthcare infrastructure, and increasing prevalence of chronic diseases are expected to propel the growth of the market.
The ongoing COVID-19 pandemic across the world is expected to have a tremendous impact on different spectra of society, the market for point-of-care ultrasound devices being no less. The production of PoCUS devices and related goods has been impacted negatively due to COVID-19 and the imposition of lockdowns, which resulted in a reduced workforce, constraints in producing goods with proper sanitization, surge in the unemployment rate, and affected import and export services.
Diagnostic devices are expected to hold the larger share in the point-of-care ultrasound devices market during the forecast period, on the basis of type. This can be attributed to the increasing use of these devices in point-of-care diagnostic applications, such as cardiac ultrasound for left ventricular systolic function, pericardial effusion, and severe mitral regurgitation, as well as for pleural effusion, pneumothorax, and pulmonary edema.
The emergency medicine category held the largest share in the market for point-of-care ultrasound devices in 2020, based on application. This can be attributed to the rising demand for advanced PoCUS devices for critical care globally. For instance, bedside ultrasound has become a valuable tool for physicians working in critical care environments to obtain immediate clinical information, improve patient safety, increase efficiency, and decrease the chances of complications.
In 2020, Europe contributed the highest revenue to the global PoCUS devices market, and it is expected to continue holding the largest share in the coming years. The market in the region is mainly driven by the high prevalence of chronic diseases, increasing healthcare expenditure, and advancements in technology. Furthermore, the booming aging population is driving the growth of the point-of-care-ultrasound-devices market in Europe, as it is more susceptible to diseases. According to the United Nations (UN) publication World Population Ageing 2019, approximately 140.4 million people were aged 65 years or more in Europe in 2019, with the number expected to reach 199.9 million by 2050.
Technological advancements in computing applications, electronics, and transducers have revolutionized ultrasound devices in recent years, leading to their increasing adoption. Developments in transducer materials and array designs have resulted in greater bandwidths, with an improvement in the spatial and contrast resolutions. These advancements have, in turn, resulted in novel imaging modes, which exploit the non-linear performance of tissues and micro-bubble contrast agents. Thus, technological advancements are a major trend being observed in the market.
PoCUS devices are increasingly being used as time-saving tools that increase the efficiency, while maximizing patients’ safety, especially for the elderly. Because elderly patients have more complications and a higher mortality rate than their younger counterparts, the use of PoCUS devices is highly recommended for them. For example, using PoCUS devices, primary-care physicians can non-invasively evaluate urinary incontinence in the elderly, screen them for abnormal aortic aneurysms (AAA) and prostatic enlargement, and evaluate their cardiac function in outpatient settings. Primary-care physicians frequently encounter these diagnostic needs in the geriatric population, which is why the use of PoCUS devices is rising.
|Base Year (2020) Market Size||$2,186.8 Million|
|Market Size Forecast in 2030||$4,546.5 Million|
|Forecast Period CAGR||7.9%|
|Report Coverage||Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Regional and Country Breakdown; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis; Company Profiling;|
|Market Size by Segments||By Type; By Portability; By Application; By Region|
|Market Size of Geographies||U.S., Canada, Germany, France, Italy, U.K., Spain, Japan, China, India, Australia, South Korea, Brazil, Mexico, Saudi Arabia, South Africa|
|Secondary Sources and References (Partial List)||National eHealth Authority, Organisation for Economic Co-operation and Development, Saudi Association of Health Informatics, Sistema Único De Saúde, Society of Diagnostic Medical Sonography, South African Telemedicine Association, South Asian Association for Regional Cooperation, Syndicat National De l'industrie Des Technologies Médicales, U.S. Department of Health and Human Services, United Nations Children's Fund|
The global point-of-care ultrasound devices industry is fragmented in nature, with the presence of several key players. Players in the point-of-care ultrasound device market are consistently focusing on strategic partnerships and business mergers to remain competitive.
The global point-of-care ultrasound devices report offers comprehensive market segmentation analysis along with market estimation for the period 2015–2030.
Based on Type
Based on Portability
Based on Application
During 2021–2030, the market for PoCUS devices is set to witness a 7.9% CAGR.
The PoCUS device industry report has four segments: type, portability, application, and region.
The market for PoCUS devices is dominated by Europe.
Technological advancements are trending in the PoCUS device industry.
Players in the market for PoCUS devices are entering into collaborations and partnerships.
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