Handheld Echocardiography Devices Market - By Product (Diagnostics [Resting, Stress], Monitoring [Wearable, MCT]), Lead Type (Single Lead, 3 Lead, 6 Lead, 12 Lead), End-use (Hospitals, Clinics, Diagnostic Centers, ASCs) – Global Forecast, 2024 – 2032

Handheld Echocardiography Devices Market Size

Handheld Echocardiography Devices Market size was valued at USD 3 billion in 2023 and is estimated to grow at a CAGR of 4.5% between 2024 and 2032. Handheld echocardiography devices are compact tailored for conducting echocardiograms, which are imaging assessments of the heart.
 

These devices integrate a portable console or tablet-like interface with a handheld probe. Their primary function is to offer immediate visualization of cardiac structures, such as chambers, valves, and blood flow patterns, in real-time. The increasing prevalence of cardiovascular diseases has emerged as a significant driver for the market.

For instance, according to the World Health Organization (WHO) in 2019, approximately 17.9 million individuals succumbed to cardiovascular diseases, constituting 32% of all global deaths and among these deaths, 85% were attributed to heart attacks and strokes. Therefore, there is a rising need for effective monitoring and treatments, advanced medical devices, lifestyle interventions, and comprehensive cardiac rehabilitation programs.
 

Furthermore, growing technological advancements in cardiovascular diseases, such as electrocardiogram (ECG) devices which is estimated to reach USD 10.5 billion by 2032, increasing geriatric population, increasing demand for remote patient monitoring devices, among other contributing factors propelling the growth of the market in the forthcoming years.
 

Handheld Echocardiography Devices Market Trends

Technological advancements in handheld echocardiography devices have revolutionized the field of cardiac imaging by offering portable, user-friendly, and high-performance solutions for assessing heart function and structure. These devices, often referred to as pocket echocardiography devices, are designed to provide real-time imaging of the heart's chambers, valves, and blood flow patterns.
 

• Modern handheld echocardiography devices now feature enhanced imaging technologies, such as higher resolution transducers and advanced signal processing algorithms. These improvements result in clearer and more detailed images of cardiac structures and functions.
   
• Furthermore, many newer handheld echocardiography devices are equipped with wireless connectivity features, allowing seamless integration with smartphones, tablets, or computers.
   
• Moreover, the integration of advanced software applications has expanded the functionality of handheld echocardiography devices. These devices offer features such as automated measurements, real-time image analysis, and 3D/4D imaging capabilities, improving efficiency and accuracy in diagnosis.
   

Handheld Echocardiography Devices Market Analysis

Based on product, the market is classified into diagnostics ECG machines and monitoring ECG devices. The diagnostics ECG machines is sub segmented into resting ECG and stress ECG. The monitoring ECG devices are sub segmented into holter monitors, mobile cardiac telemetry (MCT), wearable ECG devices, and other devices. The diagnostics ECG machines segment held a market size of 1.7 billion in 2023.
 

• Diagnostics ECG machines play a significant role in cardiovascular diagnostics by offering rapid, non-invasive assessment of cardiac rhythm and providing essential information for diagnosing and managing various cardiac conditions.
   
• Furthermore, diagnostics ECG machines provide immediate results, allowing healthcare providers to quickly assess the patient's cardiac rhythm and detect any abnormalities. This rapid assessment is particularly crucial in emergency situations, such as suspected heart attacks where prompt diagnosis and treatment are essential.
   
• Moreover, many modern ECG machines are equipped with electronic data storage and transmission capabilities. This allows ECG results to be seamlessly integrated with electronic health records systems, facilitating documentation, analysis, and retrieval of patient data, thereby fostering the segment growth.
   

Based on lead type, the handheld echocardiography devices market is bifurcated into single lead type, 3 lead type, 6 lead type, 12 lead type and other lead types. The 12 lead type segment is estimated to account for a market size of USD 2.1 billion by 2032.
 

• 12-lead ECG provides a comprehensive assessment of the electrical activity of the heart from multiple perspectives, allowing for the detection of various abnormalities such as arrhythmias, conduction disorders, and ischemic changes.
   
• Further, it offers real-time imaging capabilities that allow healthcare providers to dynamically assess cardiac structures, valves, and blood flow patterns.
   
• Moreover, offer the advantage of providing immediate results, enabling healthcare providers to quickly assess cardiac function, detect abnormalities, and make prompt treatment decisions at the point of care, thereby augmenting the segment growth of the market.
   

Based on end-use, the handheld echocardiography devices market is categorized into hospitals and clinics, diagnostic centers, ambulatory surgical centers, home care settings, and other end-users. The hospitals and clinics segment accounted for around USD 1.6 billion revenue size in 2023.
 

• Handheld echocardiography devices are compact and lightweight, allowing for easy transport within hospitals and clinics. This portability facilitates bedside assessments, outpatient consultations, and imaging in remote or underserved areas of the facility.
   
• Further, it enables clinicians to perform immediate cardiac assessments at the point of care, eliminating the need for patient transfers to dedicated imaging departments. This saves time, reduces patient wait times, and enhances workflow efficiency.
   
• Thus, handheld echocardiography devices offer hospitals and clinics numerous advantages, including portability, point of care testing, rapid diagnosis, enhanced patient care, cost-effectiveness, streamlined workflow, and versatility, thereby contributing to the growth of the market.
   

North America handheld echocardiography devices market accounted for USD 1 billion revenue in 2023 and is predicted to witness substantial market growth over the analysis timeline.
 

• The region has a large aging population, increasing the demand for remote patient monitoring, and ongoing advancements in technology are influencing the development of market.
   
• Growing prevalence of cardiovascular disease is estimated to augment market growth. For instance, according to the Centers for Disease Control and Prevention, in 2021 approximately 695,000 individuals in the U.S. succumbed to heart disease.
   
• Further, North America boasts a highly developed healthcare infrastructure with state-of-the-art medical facilities, advanced diagnostic technologies, and a well-trained workforce. This facilitates widespread adoption and utilization of handheld echocardiography devices across various healthcare settings.
   

Handheld Echocardiography Devices Market Share

The handheld echocardiography devices industry is competitive in nature, with several large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced devices based on different technologies is among a key market strategy. Some of the leading industry players including AliveCor, Inc., GE HealthCare Technologies Inc., Boston Scientific Corporation among others have a notable presence in the market.
 

Handheld Echocardiography Devices Market Companies

 Some of the eminent market participants operating in the handheld echocardiography devices industry include:

• AliveCor, Inc.
• Allengers Medical Systems, Ltd.
• Biotronik SE & Co. KG
• Boston Scientific Corporation
• Fukuda Denshi Co., Ltd.
• GE HealthCare Technologies Inc.
• Hill-Rom Holdings, Inc.
• Koninklijke Philips N.V.
• Medtronic plc
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
   

Handheld Echocardiography Devices Industry News

• In January 2022, Koninklijke Philips introduced the first at-home, 12-lead ECG integrated solution for decentralized clinical trials. The company had benefited from a growing portfolio of remote monitoring solutions, which improved both the quality of the outcomes and the overall patient experience.
   
• In November 2020, the U.S. Food and Drug Administration (FDA) cleared AliveCor's next generation of interpretive artificial intelligence (AI)-based personal electrocardiogram (ECG) algorithms. "Kardia AI V2 was hailed as the most sophisticated AI ever brought to personal ECG." The clearance benefited AliveCor by solidifying its position as a leader in AI-driven cardiac diagnostics, enhancing its product offerings.
   

The handheld echocardiography devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:

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Market, By Product

• Diagnostics ECG machines 
  • Resting ECG
  • Stress ECG
• Monitoring ECG devices     
  • Holter monitors
  • Mobile cardiac telemetry (MCT)
  • Wearable ECG devices
  • Other devices

Market, By Lead Type

• Single lead type
• 3 lead type
• 6 lead type
• 12 lead type
• Other lead types

Market, By End-use

• Hospitals & clinics
• Diagnostic centers
• Ambulatory surgical centers
• Home care settings
• Other end-users

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of Middle East and Africa