Portable Ultrasound Devices Market Size, Trends, Report by 2033

Prathamesh

10 months ago

The global portable ultrasound devices market size is expected to increase USD 3.83 billion by 2033 from USD 2.22 billion in 2023 with a CAGR of 5.62% between 2024 and 2033.

Key Points

The North America portable ultrasound devices market size accounted for USD 950 million in 2023 and is expected to attain around USD 1,670 million by 2033, poised to grow at a CAGR of 5.80% between 2024 and 2033.
North America dominated the market with the largest revenue share of 43% in 2023.
Asia Pacific is estimated to grow at the fastest CAGR of 6.72% during the forecast period.
By type, the handheld segment has held the largest revenue share of 56% in 2023.
By application, the obstetrics/gynecology segment has contributed a major revenue share of 47% in 2023.
By application, the cardiovascular segment is estimated to expand at a solid CAGR of 7.12% during the forecast period.
By technology, the Doppler ultrasound segment has generated more than 47% of revenue share in 2023.
By technology, the 3D and 4D ultrasound segment is projected to grow at a notable CAGR of 8.05% during the forecast period.
By end-use, the hospitals & clinics segment has held the maximum revenue share of 57% in 2023.
By end-use, the homecare segment is growing at a CAGR of 7.04% during the forecast period.

The portable ultrasound devices market has experienced significant growth in recent years, driven by advancements in medical imaging technology and increasing demand for point-of-care diagnostics. Portable ultrasound devices, which are compact and easily transportable, allow healthcare professionals to perform diagnostic imaging in a variety of settings, including remote and underserved areas, thus enhancing patient care. These devices are used across various medical specialties such as cardiology, obstetrics, gynecology, and emergency medicine.

Get a Sample: https://www.precedenceresearch.com/sample/4356

Growth Factors

Several factors contribute to the growth of the portable ultrasound devices market. Technological advancements have led to the development of more efficient and high-resolution ultrasound devices that are smaller and more user-friendly. Additionally, the rising prevalence of chronic diseases, such as cardiovascular diseases and cancer, increases the demand for effective diagnostic tools. The shift towards minimally invasive procedures and the growing adoption of telemedicine also bolster the market, as portable ultrasound devices facilitate remote diagnosis and monitoring.

Region Insights

The market dynamics vary significantly across different regions. North America holds a substantial share due to the advanced healthcare infrastructure, high healthcare expenditure, and widespread adoption of innovative medical technologies. Europe also exhibits strong growth, supported by government initiatives and a robust healthcare system. The Asia-Pacific region is expected to witness the highest growth rate, driven by increasing healthcare awareness, a large patient population, and improving healthcare infrastructure. Emerging markets in Latin America and the Middle East & Africa are also showing promising potential due to increased investments in healthcare.

Portable Ultrasound Devices Market Scope

Report Coverage	Details
Portable Ultrasound Devices Market Growth Rate	CAGR of 5.62% from 2024 to 2033
Portable Ultrasound Devices Market Size in 2023	USD 2.22 Billion
Portable Ultrasound Devices Market Size in 2024	USD 2.34 Billion
Portable Ultrasound Devices Market Size by 2033	USD 3.83 Billion
Largest Market	North America
Base Year	2023
Forecast Period	2024 to 2033
Segments Covered	Type, Application, Technology, End-Use, and Regions
Regions Covered	North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Portable Ultrasound Devices Market Dynamics

Drivers

Key drivers of the portable ultrasound devices market include the growing demand for point-of-care diagnostics and the increasing prevalence of chronic diseases. The aging global population and the consequent rise in age-related health issues necessitate efficient diagnostic solutions, further propelling market growth. Additionally, advancements in ultrasound technology, such as 3D/4D imaging and AI integration, enhance diagnostic accuracy and usability, making these devices more appealing to healthcare providers.

Opportunities

The portable ultrasound devices market offers numerous opportunities for growth. The expanding applications of ultrasound technology in emergency medicine and critical care open new avenues for market players. The rising trend of home healthcare and personalized medicine also creates a lucrative market for portable devices. Furthermore, the integration of AI and machine learning in ultrasound imaging promises to revolutionize diagnostics, offering improved accuracy and predictive capabilities.

Challenges

Despite the positive outlook, the market faces several challenges. High costs associated with advanced portable ultrasound devices can limit their adoption, especially in developing regions. There is also a need for skilled professionals to operate these devices and interpret the results accurately, posing a barrier to widespread use. Additionally, regulatory hurdles and the need for adherence to stringent quality standards can impede market growth. Ensuring data security and patient privacy in the context of telemedicine and remote diagnostics remains a critical concern.

Portable Ultrasound Devices Market Recent Developments

In May 2024, Esaote SPA launched a portable ultrasound system named ‘MyLab Omega eXP VET.’ This system will help veterinarians examine animals with a high level of flexibility and accuracy in diagnostic imaging. It also covers animals of all species and ensures high performance, ranging from general imaging and echocardiography to interventional procedures.
In April 2024, Butterfly announced that the FDA had approved its next-generation handheld point-of-care ultrasound (POCUS) system named iQ3. This new device features a new ergonomic design and delivers high data processing speed for optimized image resolution and accuracy for the detection of various body parts.
In November 2023, Aco Healthcare launched its new handheld ultrasound system, Apache Neo. This system features microwave-beamforming imaging technology that provides high-resolution medical images and accurate diagnosis to enhance patients’ overall medical experience.
In September 2023, Mindray Medical International Limited launched the TE Air wireless handheld ultrasound device. This device offers multi-device connectivity and flexible charging options. It also produces high-quality images and ensures accessibility in critical clinical scenarios.
In August 2023, GE HealthCare launched Vscan Air SL, a wireless handheld ultrasound device designed to accelerate the imaging process during cardiac and vascular problems. This device comes with GE HealthCare’s proprietary XDclear and SignalMax technology to enhance resolution and improve imaging performance.