The research study on portable ultrasound market – global outlook & forecast 2023-2028, recently published by Arizton Advisory & Intelligence states that the market will grow at a CAGR of 6.91% from 2022 to 2028
The report considers the present scenario of the portable ultrasound market and its market dynamics for 2023−2028. Several market growth enablers, restraints, and trends are covered in detail. The industry’s supply and demand sides are covered in the study. Additionally, it provides profiles and analyses of several other significant businesses active in the sector. Analysts at Arizton evaluated the obtained material and data, gaining insights and understanding of the industry’s workings to provide the data systematically, along with predictions and future insights presented to shareholders based on the past evaluation.
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Global Portable Ultrasound Market Report Scope
| Report Attributes | Details |
| Market Size (2028) | USD 2.12 Billion |
| Market Size (2022) | USD 1.42 Billion |
| CAGR (2022-2028) | 6.91% |
| Base Year | 2022 |
| Forecast Year | 2023-2028 |
| Market Segmentation | Product, Application, End-Users, and Geography |
| Geographic Analysis | North America, Europe, APAC, Latin America, and Middle East & Africa |
Market Overview
The global portable ultrasound market is projected to reach USD 2.12 billion by 2028.
The ultrasound market is dominated by traditional cart-based devices, which true portable ultrasound companies want to change. For instance, Butterfly Network ‘s portable products have sold over 30,000 units since launch. Large companies, such as GE Healthcare and Koninklijke Philips, Siemens Healthineers, Canon Medical Systems Corporation, Mindray, and Fujifilm SonoSite, dominate the portable ultrasound market.
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Artificial Intelligence Creating Buzz in the Portable Ultrasound Market
Artificial Intelligence (AI) one-stop solution to tackle difficult issues in key technologies that will transform medical practice. The use of artificial intelligence in healthcare, particularly in ultrasonography, is expanding quickly in the US. According to Arizton estimates, global AI in healthcare may reach a startling $44.5 billion by 2026. It ought to touch the forehead. High expenses (25% of US healthcare spending is wasted), operational inefficiencies, and ever-rising data security standards are some of the most well-known healthcare difficulties. Increased demand to handle staff and patient information is one of these. This is where ultrasonic applications of AI come into play. Here, AI-based solutions boost diagnostic precision and aid decision-making, improving patient outcomes. For instance, applying deep learning to medical imaging can give patients a smooth, tailored experience throughout their care. The integration of AI into POCUS devices, with their increased compactness and lower cost, is driving the wider adoption of various smart medical devices.
Future Expansion of Care Settings Positively Impacting the Market Growth
Portable ultrasounds have established themselves as the ideal imaging modality for use in the clinical setting by trained emergency physicians. Numerous life-threatening diseases, such as hemoperitoneum, pericardial effusion, cardiac tamponade, pneumothorax, and abdominal aortic aneurysm, can be swiftly and precisely diagnosed.
Expansion and proposed care settings can be potential areas for portable ultrasound to explore. These expansions of care settings have a huge growth potential for the portable ultrasound market.
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Geographical Insights
APAC constituted the highest share of 36.11% in the global portable ultrasound market in 2022. The region will likely witness a large acceptance of portable ultrasound devices if quality healthcare is provided to large population segments. Chronic diseases, aging-related conditions, and maternal mortality are the main contributors to the growth of the portable ultrasound market in the region. China and India are the two major revenue contributors in the regional market, as both countries have the presence of huge populations along with targeted patient demographics. The dominance of China in the global portable ultrasound market is mainly attributable to the presence of many portable ultrasound manufacturers, a rise in the number of hospitals and diagnostic centers, awareness of advanced healthcare technologies, strong economic growth, and healthcare reforms.
Europe’s portable ultrasound market was valued at USD 362.03 million in 2022. The region’s market is also growing significantly due to the increasing prevalence of CVDs, gastrointestinal disease, kidney and bladder disease, complications in pregnancy, and fetus development. CVDs are considered the leading cause of mortality and a major source of morbidity in Europe. According to the European Society of Cardiology (ESC) 2019, around 49 million people had CVDs in the EU.
Key Company Profiles
- GE Healthcare
- Koninklijke Philips
- Mindray
- FUJIFILM
- Canon Medical Systems
- Siemens Healthineers
- DRAMINSKI
- Quantel Medical
- Healcerion
- Clarius
- Butterfly
- Shantou Institute of Ultrasonic Instruments
- MEDGYN PRODUCTS
- Viatom
- CHISON Medical Technologies
- Esaote
- Konica Minolta
- Dawei Medical
- Kaixin
- Promed Technology
- Fude Technology
- Sonoscanner
- BenQ Medical
- Meda
- The Prometheus Group
- Xuzhou RuishengChaoying Electronic Technology
- Swissray
- IMV
- E.I. Medical Imaging
- ASUSTeK Computer
- Samsung Healthcare
- CONTEC MEDICAL SYSTEMS
- Hologic
- Advanced Instrumentations
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Market Segmentation
Product: Compact and Handheld
Application: General Imaging, Cardiovascular, OB/GYN, and Others
End-Users: Hospitals, Diagnostic Imaging Centers, OB/GYN Clinics/Centers, and Others
Geography: APAC, Europe, North America, Latin America, Middle East & Africa
Countries: China, India, Japan, South Korea, Malaysia, Thailand, Australia, the UK, Germany, France, Italy, Spain, the US, Canada, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, and Turkey
Arizton’s Expertise in the Healthcare Industry
Arizton offers syndicate and custom market intelligence & competitive intelligence solutions across MedTech, pharmaceuticals, and life sciences & biotechnology markets within the healthcare industry. Arizton’s healthcare vertical provides unbiased research and evidence-based analysis to support business decisions and comprehensive end-to-end solutions to its customers, covering all dimensions of the healthcare value chain. We track various devices (equipment, implants, and hospital supplies) and drugs (patented, generic, & OTC) across North America, Europe, APAC, Latin America, and the Middle East & Africa regions. The healthcare reports provide historic and forecast data for 20+ key countries worldwide. We track product approvals/launches, M&A activities, and collaboration/partnership activities among pharma/biotech, medical device, and life sciences companies. Our pharmaceutical portfolio tracks 15+ therapy areas with a major focus on immunology, oncology, rare & genetic diseases, dermatology, and metabolic diseases. Our medical devices and life sciences portfolio covers in-vitro diagnostics, healthcare IT, patient monitoring, cardiovascular devices, medical imaging, personal protective equipment, clinical laboratory services, and CMO/CDMO services.
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