Point of Care Ultrasound Market size to exceed $3bn by 2025
Published Date: May 16, 2019 Authors: Sumant Ugalmugle
Point of Care Ultrasound Market size is set to exceed USD 3 billion by 2025; according to a new research report by Global Market Insights.
Technological advancements and rising adoption of POC ultrasound devices drives business growth. The industry players aim to enhance diagnostic performance of devices for better patient care. Growing investment in R&D activities to develop novel POC ultrasound systems for easy diagnosis and monitoring will favor segment growth. Moreover, major players such as Fujifilm, Philips, GE Healthcare, Siemens and Toshiba among others continuously focus on new product launch and product enhancements. For instance, in January 2016 Fujifilm introduced Sonosite Edge II, this portable device assists in critical care and emergency medicine. Enormous demand for POC ultrasound devices will accelerate the industry growth over the coming years.
Point of care ultrasound market will witness significant growth due to rising geriatric population across the globe. Availability of portable ultrasound system that delivers easy and relevant information for clinical assessment of elderly population is expected to boost the point of care ultrasound market growth. Rising adoption of POCUS and its wide-ranging applications in cardiology, critical care, anesthesiology as well as obstetrics and gynecology among others will further augment the POC ultrasound market growth. However, irregular reimbursement policies may restrict the business growth over forthcoming years.
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Diagnostic devices segment was valued around USD 1.3 billion in 2018 and will witness lucrative market growth during the forecast timeframe. Diagnostic POC ultrasound devices are cost effective that uses ultrasound waves for disease detection such advantages enhance the segmental growth. Moreover, extensive usage of diagnostic devices in diagnosis of peripheral edema, dyspnea, joint or abdominal pain and detecting pregnancy can prove beneficial for segmental growth. In addition, these devices are affordable and portable such factors foster industry growth.
Handheld devices segment accounted for over 32% revenue share in 2018 and will witness significant CAGR by 2025. Advances in echocardiography coupled with miniaturization of ultrasound machines have led to the development of handheld devices. These devices are easy to access and provide better patient management. Thus, associated benefits along with rising demand for such devices will upsurge the segmental revenue size during the forecast timeline.
Cardiology segment will witness around 5.3% growth over the coming years. Availability of small, handheld and user-friendly devices has stimulated the adoption of cardiac POC ultrasound systems for efficient bedside cardiac monitoring. POCUS has become a common diagnostic tool in cardiac resuscitation. Benefits of cardiac POC in detecting anatomic causes such as cardiac tamponade, will increase its adoption during emergency cases, thus, driving segmental growth.
Hospital segment was valued more than USD 650 million in 2018 and will showcase similar trend over the analysis timeframe. Growing adoption of point-of-care ultrasound as an integral part of diagnosis is expected to boost the segmental growth. POCUS helps in continuous follow-up and on-site patient diagnosis in hospital setting. Above-mentioned advantages favor segmental growth.
Browse key industry insights spread across 155 pages with 232 market data tables & 9 figures & charts from the report, “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 & Gynecology, Urology, Vascular Surgery, Musculoskeletal), By End-use (Hospitals, Clinics, Maternity Centers, Ambulatory Surgical Centers [ASCs]), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Asia Pacific point of care ultrasound market was valued around USD 625 million in 2018 and is expected to boost exponentially over the forecast period. Growing need for point-of-care in emergency departments and rising prevalence of chronic diseases in this region will boost the regional growth. Increasing health expenditure in China and Japan will prove beneficial for POC ultrasound devices market growth. Moreover, increasing demand for point of care ultrasound in Japan coupled with technological advancements in POCUS is expected to foster business growth over the coming years.
Eminent industry players operating in point of care ultrasound market include Analogic, Canon Medical Systems, Esaote, Fujifilm, B. Braun, GE Healthcare, Koninklijke Philips, Mindray Bio-Medical Electronics, Siemens Healthcare, Samsung Electronics and Toshiba. Major industry players undertake various strategies and emphasize on product launch to sustain in the industry. For instance, in March 2018, Canon Medical Systems received Food and drug administration (FDA) clearance for Aplio i600 system that gives better image quality and enhanced user interface.
Point of care ultrasound market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2014 to 2025, for the following segments:
Point-of-Care Ultrasound Market By Type, 2014-2025 (USD Million)
- Diagnostic devices
- Therapeutic devices
Point-of-Care Ultrasound Market By Portability, 2014-2025 (USD Million)
- Trolley based devices
- Handheld devices
Point-of-Care Ultrasound Market By Application, 2014-2025 (USD Million)
- Emergency medicine
- Obstetrics & gynecology
- Vascular surgery
Point-of-Care Ultrasound Market By End-use, 2014-2025 (USD Million)
- Maternity centers
- Ambulatory Surgical Centers (ASCs)
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East Asia & Africa
- Saudi Arabia
- South Africa