Point of Care Ultrasound Market Size By Type (Diagnostic Devices, Therapeutic Devices), By Portability (Trolley Based Devices, Handheld Devices), By Application (Emergency Medicine, Cardiology, Obstetrics & Gynaecology, Urology, Vascular Surgery, Musculoskeletal), By End-use (Hospitals, Clinics, Maternity Centres, Ambulatory Surgical Centres), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Oct 2021  |  Report ID: GMI3325  |  Authors: Sumant Ugalmugle, Rupali Swain

Report Format: PDF   |   Pages: 130   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry trends

Point of Care Ultrasound (POCUS) Market size exceeded USD 3.1 billion in 2020 and is predicted to witness 6.4% CAGR from 2021 to 2027.  Rising demand for ultrasound machine in emergency department, increasing risk of several chronic diseases in geriatric as well as adult population, growing birth rates and technological advancements in point of care ultrasound system are some of the major factors that are expected to facilitate the market growth.
 

Point of Care Ultrasound Market Overview

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The impact of COVID-19 on the point of care ultrasound is significant as many health care providers deployed ultrasound systems, especially in point of care application for monitoring and diagnosis of COVID-19.
 

Technological innovations and advancements in point of care ultrasound systems in developed economies will boost the market expansion

In an era of advancements and innovations, demand for medical devices that are accurate and efficient has increased. In point of care ultrasound devices, artificial intelligence and automation features are incorporated to ease and speed up the examination.
 

Moreover, key players operating in the industry are launching advanced ultrasound systems. For instance, Canon launched new version of the Canon Aplio 900 CV system in 2018. This ultrasound machine is light in weight that makes it portable and efficient for POC settings. The device also offers simplified work process.
 

Diagnostic devices segment will dominate the point of care ultrasound space

The diagnostic segment dominated more than 65% of the market share in 2020. Increasing prevalence of chronic diseases worldwide has positively influenced the demand for ultrasound imaging as it helps early detection of diseases and minimizes the cost of treatment. Additionally, there is no severe risk in using diagnostic ultrasound, as it uses low-power sound waves. Furthermore, using ultrasound for diagnostic procedure is cost effective over other medical imaging technology.
 

Increasing demand for handheld devices by primary care physicians will foster the point of care ultrasound market progression

The handheld segment was valued at around USD 1 billion in 2020. The segment growth is high as handheld devices are ultra-portable devices that can be used at hospitals, remote healthcare settings, and ambulatory care centers for diagnostic as well therapeutic procedures. Handheld ultrasound devices are used by diverse range of customer groups, from emergency medicine physicians and cardiologist. Moreover, in recent times, the handheld ultrasound is frequently used by office-based physicians in various medical specialities, such as urology, and gastroenterology among others. Handheld devices help physicians in quick patient examination and initial screening. Also, due to rising demand for handheld ultrasound systems by primary care physicians, manufacturing companies have lowered the cost of the device.
 

Rising demand for detecting abnormalities during pregnancy will spur the overall market revenue

The obstetrics & gynecology segment captured 22% of the revenue share in 2020 led by the affordability of ultrasound in low- and middle-income countries (LMICs) for detecting abnormalities in pregnancy. In addition, it is a safe, painless and non-invasive procedure that helps many parents to see their unborn child, and perhaps discover its gender. Additionally, it helps in detecting fetal abnormalities, amniocentesis and chorionic villus sampling. Furthermore, ultrasound is suggested by Oby/gyn professionals as it helps diagnosing single or multiple pregnancy, obstructed labor, miscarriage, molar pregnancy, ectopic pregnancy, fetal abnormality, and other pregnancy complications. Thus, diverse application of ultrasound in obstetrics and gynecology centers will augment the industry growth.
 

Growing demand of point of care ultrasound in hospitals will fuel the market value

Point of Care Ultrasound (POCUS) Market Size

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The hospital segment in the point of care ultrasound market is estimated to attain a CAGR of 5.5% during 2021 to 2027. The high growth of this segment is ascribable to strong demand for ultrasound imaging in surgical processes in the hospitals. During surgery anaesthesiologists use point of care ultrasound to visualize targeted structures such as heart, blood vessels, lungs and other organs. It also helps in providing information about baseline function of heart and lung before any urgent surgery. Furthermore, use of POCUS during surgery prevents patients from harmful radiation that are emitted by using conventional tools such as X-ray and CT scan for imaging.
 

Increased funding by private research institute for advancement of medical devices in North America will enhance the industry progression

North America POCUS Market

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North America point of care ultrasound market accounted for 33% of revenue share in 2020. Increased funding by government and industry funding for research and development in ultrasound systems is slated to propel the industry revenue. Additionally, the rising prevalence of chronic diseases, increasing advancements and presence of established market players and developed healthcare infrastructure in the region are fueling the North America industry value during the forecast timeframe.
 

Presence of numerous companies will impel the market demand

Some of the prominent companies operating in the market include Canon Medical, Esaote SpA, Fujifilm Sonosite, B. Braun, GE Healthcare, Koninklijke Philips, Shenzhen Mindray Bio-Medical Electronics, Siemens Healthineers, Samsung MEDISON (SAMSUNG HEALTHCARE), and Fukuda Denshi Co. Ltd. These market participants are implementing various growth strategies to sustain competition in the industry.
 

Some of the recent industry developments:

  • In October 2020, Mindray Bio-Medical announced the launch of ME8 point of care ultrasound system. The device is light weigh as it only weighs 6.6 pounds and is laptop-based ultrasound machine that will be easy to use at remote settings and at ambulatory centers. This will help company generating more profit.
     
  • In March 2018, GE Healthcare along with Trice Imaging developed GE’s LOGIQ E10 ultrasound system. The device offers high quality diagnostic images that in turn will boost its revenue.
     

The point of care ultrasound market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027, for the following segments:

Market, By Type, 2016-2027 (USD Million)

  • Diagnostic devices
  • Therapeutic devices

Market, By Portability, 2016-2027 (USD Million)

  • Trolley based devices
  • Handheld devices

Market, By Application, 2016-2027 (USD Million)

  • Emergency medicine
  • Cardiology
  • Obstetrics & Gynecology
  • Urology
  • Vascular surgery
  • Musculoskeletal
  • Others

Market, By End-Use, 2016-2027 (USD Million)

  • Hospitals
  • Clinics
  • Maternity centers
  • Ambulatory surgical centers
  • Others

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

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

 

Frequently Asked Questions (FAQ) :

Market share of point of care ultrasound crossed USD 3.1 billion in 2020 and will grow at a CAGR of 6.4% from 2021 to 2027 owing to surging risk of chronic diseases in adult and geriatric population.
Point of care ultrasound is useful in the diagnosis and treatment of patients in hospitals, ambulance, or remote villages as the technology helps in minimizing the delay between the onset of symptoms and the initiation of definitive therapy.
The market revenue from handheld devices was around USD 1 billion in 2020 and will grow with rising demand from an array of customer groups, including cardiologists and emergency medicine physicians.
North America point of care ultrasound industry size recorded 33% of the market share in 2020 and will escalate with increased funding by government for research and development activities in the region.
The obstetrics & gynecology application accounted for 22% of the overall market share and PoC ultrasound is a safe, affordable, non-invasive and painless procedure.

Premium Report Details

  • Published Date: Oct 2021
  • Pages: 130
  • Tables: 115
  • Charts / Figures: 15
  • Companies covered: 10
  • Countries covered: 17

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