Point-of-Care Ultrasound Device Market Research Report: By Type (Diagnostic, Therapeutic), Portability (Trolley/Cart-Based, Compact/Handheld), Application (Emergency Medicine, Cardiology, Obstetrics and Gynecology, Vascular and Urology, Musculoskeletal) - Global Industry Revenue Estimation and Demand Forecast to 2030

Market Overview

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 Category Is Expected To Hold Larger Share during Forecast Period

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.

Emergency Medicine Is Expected To Be Largest and Fastest-Growing Category in Industry

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.

Europe Dominated Market during Historical Period

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 PoCUS Devices Are Key Market Trend

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.

Surge in Geriatric Population Is Driving 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.

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Partnerships Are Strongest Strategic Measures Taken by Players in Market in Recent Years

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.

• In June 2020, Canon Medical Systems Corporation established a joint venture with R-Pharm Holding (Russia) for the sale and maintenance of diagnostic imaging equipment manufactured by Canon Medical in nine Commonwealth of Independent States (CIS) member countries, including Russia. The joint venture will take off once all the necessary regulatory approvals have been obtained.
• In July 2019, FUJIFILM Holdings Corp. announced the launch of a strategic relationship with Partners HealthCare (Mass General Brigham) to apply artificial intelligence (AI) to improve the utility and functionality of portable ultrasound devices. The two organizations are collaborating to enhance the ultrasound technology to enable clinicians to perform scans at the point of care, thereby extending the accessibility of this technology to clinicians and patients.

Key Players in Point-of-Care Ultrasound Devices Market Are:

Market Size Breakdown by Segment

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

• Diagnostic
• Therapeutic

Based on Portability

• Trolley/Cart-Based
• Compact/Handheld

Based on Application

• Emergency Medicine
• Cardiology
• Obstetrics and Gynecology
• Vascular and Urology
• Musculoskeletal

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
• Asia-Pacific (APAC)
  • Japan
  • China
  • India
• Latin America (LATAM)
  • Brazil
  • Mexico
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia