Point of Care Ultrasound (POCUS) Market Size

Point of Care Ultrasound (POCUS) Market Size

Point of Care Ultrasound Market size was worth USD 3.5 billion in 2022 and is poised to witness significant growth at 6.9% CAGR up to 2032, driven by the growing number of pregnancies.

Rising birth rate throughout the world, particularly in underdeveloped nations, is increasing the adoption of portable ultrasound equipment. According to the UNICEF, India records nearly one fifth of the global annual child births, marking 25 million per year. When used extensively during pregnancy, POC ultrasonography precisely and rapidly reveals the fetus's health condition by detecting its heartbeat and any free fluid. Increasing adoption by most OB/GYN practitioners to provide quick solutions in cases where the mother or baby's life is in danger.

Irregular reimbursement regulations in point-of-care ultrasound imaging may stymie the market expansion to some extent. Several hospitals and clinics in this industry decline claims, particularly for pricey treatments for a variety of conditions. In many circumstances, the use of POCUS is deemed exploratory and is not a covered procedure. Furthermore, medical invoices containing plenty of information need many levels of verification and tedious documentation, and if erroneous, the claim may take longer to resolve.
 

COVID-19 Impact

The COVID-19 pandemic positively influenced the  point of care ultrasound market revenue. During the outbreak, the use of point-of-care ultrasonography for patient treatment witnessed high demand to conduct clinical tests, since it is a proven technology for diagnosing various lung and cardiovascular disorders in real-time. As industry players increasingly established POCUS emergency solutions, this produced favorable environment for economic development. For instance, in March 2021, GE Healthcare, launched its second POCUS in a month, with a new AI-coupled device geared to assist frontline healthcare professionals dealing with COVID-19.