Portable Ultrasound Market Size & Forecast
The 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 mainly driven by 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 integration of artificial intelligence and machine learning in portable ultrasound devices simplifies the workflow and increases the accuracy of image analysis for accurate diagnosis. Additionally, wearable ultrasound devices are being developed and researched by scientists to enable efficient patient monitoring and diagnosis.
Emergence of Wearable Ultrasound Devices a Prominent Trend in the Portable Ultrasound Market
Wearable ultrasound devices leverage advancements in miniaturization, wireless connectivity, and ergonomic design. These wearable ultrasound devices are compact and lightweight and can be comfortably worn on the body, enabling healthcare providers to conduct ultrasound examinations virtually anywhere, from point-of-care settings to remote locations and even during emergencies. Wearable ultrasound devices offer the advantage of imaging without requiring the patient to remain stationary in one place. Several wearable ultrasound devices have gained approval or are currently in various stages of development.
In September 2023, researchers from the Massachusetts Institute of Technology (U.S.) developed a wearable ultrasound device designed to detect tumors in case of breast cancer in its early stages. This flexible patch can be attached to a bra, allowing the wearer to move an ultrasound tracker along the patch and image breast tissue from various angles. Additionally, in May 2023, researchers from the University of California (U.S.) introduced a wireless wearable ultrasound device capable of imaging tissues deep below the skin while patients move freely. This system enables doctors to monitor blood pressure, heart health, and lung capacity in real time. The ultrasound patch can monitor signals from tissues as deep as 16 centimeters under the skin and continuously measure blood pressure, heart output, respiratory health, and other physiological signals for up to 12 hours on a single charge.
Rising Prevalence of Orthopedic Injuries and Musculoskeletal Disorders Fuels the Market's Growth
Musculoskeletal disorders encompass a range of conditions stemming from occupational injuries and age-related dysfunction. Among the most prevalent musculoskeletal disorders are rheumatoid arthritis, osteoarthritis, osteoporosis, and septic arthritis. Additionally, bone fractures and hip fractures are frequent orthopedic injuries observed among the elderly population. Physicians utilize ultrasound as a diagnostic tool to identify injuries such as muscle, tendon, and ligament tears, aiding in the assessment and management of musculoskeletal conditions. According to the World Health Organization (WHO), in 2021, approximately 1.71 billion individuals worldwide were affected by musculoskeletal conditions. Additionally, the WHO has projected a rise in disabilities associated with these conditions in the coming decades.
Moreover, the elderly population often experiences age-related issues such as joint pain, arthritis, osteoporosis, and osteoarthritis. According to the WHO, approximately 344 million individuals with osteoarthritis experience varying degrees of severity. Orthopedic injuries encompass fractures, breaks, dislocations, sports hernias, traumatic fractures, impingement, and sprains, frequently resulting from sudden trauma. Musculoskeletal ultrasound can aid in diagnosing a spectrum of work-related injuries and chronic conditions, including sprains, strains, tears, back pain, carpal tunnel syndrome, and hernias, among others. Therefore, the high burden of orthopedic disorders is expected to drive the demand for ultrasound devices, including portable ultrasound for diagnostic imaging.
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Key Findings of the Global Portable Ultrasound Market Study:
Devices Segment to Dominate the Portable Ultrasound Market in 2024
The largest market share of this segment is attributed to the growing demand for portable ultrasound devices in emergency departments, increasing preference for ultrasound imaging near patients, growing prevalence of chronic diseases, and technological advancements in portable ultrasound devices.
Based on portability, the devices segment is further segmented into point-of-care (PoC) ultrasound devices and handheld ultrasound devices. In 2024, the point-of-care (PoC) ultrasound segment is expected to account for the largest share of the market. The large market share of this segment is attributed to the high adoption of POC ultrasound devices due to their versatility. Additionally, the high imaging and diagnostic quality, and technological advancements also contribute to the segment’s large share.
Point-of-care (POC) ultrasound devices, also known as POCUS, are widely adopted due to their versatility and suitability for diverse medical environments. These range from hospitals to ambulances and even remote locations. This adaptability makes them essential tools for healthcare providers to deliver timely and accurate diagnoses in various settings.
OB/GYN Segment to Dominate the Portable Ultrasound Market in 2024
The large market share of this segment is attributed to the growing prevalence of conditions related to women’s health. Moreover, the high adoption of ultrasound imaging to evaluate female reproductive organs, abdomen, pregnancy-related conditions, and in the determination of infertility causes contribute to the large market share of this segment.
According to the WHO, Endometriosis, a chronic disorder associated with pelvic pain, abdominal bloating, and other conditions, currently affects around 10%, accounting for around 190 million women of reproductive age globally. Access to early diagnosis and effective treatment of endometriosis is essential to control the symptoms and prevent chronic pain, infertility, and heavy bleeding during menstruation. Ultrasound is a reliable first‐line imaging modality for the assessment of patients with gynecological concerns.
Hospitals & Clinics Segment to Dominate the Portable Ultrasound Market in 2024
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 handheld ultrasound and PoC ultrasound devices, are becoming increasingly popular in hospitals and clinics, including maternity care centers and specialty clinics, for diagnostic and intraoperative monitoring purposes. These systems offer speedy diagnosis, accuracy, and affordability as compared to conventional ultrasounds. One of the primary advantages of portable ultrasound in this setting is its compact size and ease of use. Unlike traditional ultrasound machines, which are large and stationary, portable devices are lightweight and can be easily carried from one location to another. Portable ultrasound provides bedside imaging, eliminating the need for patients to travel to imaging centers for their results.
China and India: Fastest-growing Markets
In 2024, North America is expected to account for the largest share of the global portable ultrasound market. However, Asia-Pacific is slated to register the highest CAGR during the forecast period. China and India hold attractive opportunities for the players operating in the portable ultrasound market. China and India are expected to grow at the highest and second highest CAGR, respectively, during 2024-2031. This growth can be attributed to several factors, including the rising prevalence of cancer, a large population base with high numbers of pregnancies, a growing aging population, government initiatives aimed at promoting early diagnosis, increased adoption of advanced medical technologies, enhancements in healthcare infrastructure, and rising healthcare expenditure.
Portable Ultrasound Market: Competitve Analysis
The report includes a comprehensive competitive landscape analysis based on an extensive assessment of the offerings, geographic presence, and key growth strategies implemented by leading market players between 2020 and 2024. The key players operating in the 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 Report Summary:
Particulars
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Details
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Page No
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253
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Format
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PDF
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Forecast Period
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2024-2031
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Base Year
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2023
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CAGR
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7.9%
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Market Size (Value)
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$3.8 billion by 2031
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Market Size Volume
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Point-of-care Ultrasound Machines 1,69,256 units by 2031
Point-of-care Transducers 3,13,837 units by 2031
Handheld Ultrasound Devices 1,70,089 units by 2031
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Segments Covered
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By Product
- Devices
- By Portability
- Point-of-care) (PoC) Ultrasound
- Hand Held Ultrasound
- By Technology
- 2D Ultrasound
- 3D & 4D Ultrasound
- Doppler Ultrasound
- By Display
- Black & White (B/W)
- Colored
- Gels
- Accessories
By Application
- OB/GYN
- Cardiovascular
- Urology
- Musculoskeletal
- Breast Cancer
- Other Applications
(Note: Other Applications include gastroenterology, anesthesiology, neurology, image guidance, and some abdominal applications)
By End User
- Hospitals & Clinics
- Diagnostic Imaging Centers
- Ambulatory Care Centers
- Other End Users
(Note: Other End Users include home care settings and academic institutes)
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Countries Covered
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North America (U.S., Canada), Europe (Germany, France, U.K., Spain, Switzerland, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of APAC), Latin America (Brazil, Mexico, Rest of Latin America), and Middle East & Africa
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Key Companies
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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).
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Key questions answered in the report: