The Portable Ultrasound Market size was USD 2678.60 Million in 2023 and is expected to reach USD 7481.55 Million by 2031 and grow at a CAGR of 13.7% over the forecast period of 2024-2031.
The Portable Ultrasound Market refers to the market for handheld or portable ultrasound devices used for medical imaging purposes. Ultrasound is a mis invasive imaging technology that uses sound ripple to produce images of inner tissues, organs, and blood flow patterns. Portable ultrasound devices offer the advantage of being compact, lightweight, and easily transportable, making them suitable for point-of-care applications in various healthcare settings.
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The market for portable ultrasound has been growing steadily in recent years due to several factors. One of the main drivers is the increasing demand for point-of-care diagnostics and imaging solutions, particularly in remote and underserved areas where access to traditional ultrasound machines may be limited. Portable ultrasound devices enable healthcare professionals to perform quick and efficient diagnostic procedures at the patient's bedside or in ambulatory settings, leading to improved patient outcomes and reduced healthcare costs.
The advancements in ultrasound technology, such as the miniaturization of components, improved image quality, and the development of wireless connectivity options, have further contributed to the growth of the portable ultrasound market. These devices offer features like real-time imaging, Doppler capabilities, and compatibility with mobile devices, enhancing their versatility and usability.
The portable ultrasound market serves a wide range of applications across various medical specialties, including cardiology, obstetrics and gynecology, musculoskeletal imaging, emergency medicine, critical care, and primary care. It caters to hospitals, clinics, ambulatory care centers, and other healthcare facilities
DRIVERS:
Increasing product launches is also a positive aspect of this market growth.
Increased use of these technologies in emergency departments will boost the global market.
The widespread use of these imaging systems in emergency treatment is one of the primary reasons driving the worldwide market's growth. For many patients who require immediate medical attention, emergency departments are the initial point of contact. The speed with which patients are cared for is determined by a variety of circumstances, including the technology and medical equipment available in the emergency department.
RESTRAIN:
Portable Ultrasound devices are costly as compare to traditional devices in the market.
Concerns about regulatory changes, along with limited reimbursement, will stifle market growth.
The restricted reimbursement for medical imaging is one of the key factors predicted to hinder the worldwide market's growth during the projected period. For example, payment for portable ultrasound operations is only available if the usage fulfills all of the payer's standards.
OPPORTUNITY:
Portable ultrasound devices are increasingly being utilized in various medical specialties beyond the traditional domains of radiology and obstetrics.
Telemedicine and remote monitoring are becoming increasingly popular.
Growing features such as remote cooperation, effective patient triaging, and expert consultations are driving the portable ultrasound market forward. The growing use of telemedicine and remote monitoring has enabled healthcare personnel to examine and monitor patients from a distance.
CHALLENGES:
Skilled operators are required to obtain accurate and dependable ultrasound pictures.
End-user interest in reconditioned equipment is growing. Due to this, this market will benefit more.
The urge for remanufactured ultrasound equipment arose as a result of the high cost of novel ultrasound technologies (such as focused ultrasound) and the financial constraints faced by small-sized healthcare institutions. In North America, for example, a conventional 3D/4D ultrasound system costs USD 20,500-75,500, but a reconditioned 30/4D ultrasound system costs USD 5,500-40,500. As a result, the increased desire for reconditioned systems is expected to offer a significant obstacle to market growth.
Most medical equipment is imported from the United States and Europe, the Russo-Ukrainian War will have a detrimental influence on Russia's Medical equipment business. There is also a social consequence associated with the financial choice to stop doing business with Russia.
The International Trade Administration, which is part of the United States Department of Commerce, predicted that the Russian medical device industry had been worth $ 8 billion in 2023. According to the survey, portable ultrasound accounts for around 20% of the market, while consumables account for 15% and orthopedic and prosthetics account for little more than 9%. But due to the war, the market share of portable ultrasound has come down from 20 % to 18 %.
IMPACT OF ONGOING RECESSION
Many factors, some of which are unknown, can influence the efficacy and expense of healthcare during the recession. Financial incentives for a medical practitioner, hospital, or other healthcare organization may meet or clash with the patient's need for healthcare.
During a recession, people are more inclined to postpone non-urgent medical care. This has a negative impact on the healthcare sector's revenue. Healthcare providers are facing further financial difficulties as the number of consumers who do not pay medical bills for services rendered has climbed. This compels the healthcare provider to either write off the sum or include it in the outstanding payments. Donations from charities and support from government agencies at the local, state, and federal levels may also fall, putting hospitals and smaller healthcare providers at risk.
According to statistical statistics, a typical hospital with 250-300 beds had a $ 3-3.53 million decrease in medical billing during the recession between 2009 and 2011. This was mostly due to the fact that patients who would otherwise have utilized commercial insurance were either jobless or underemployed.
By Type
Touchscreen
Built-in-console
By End User
Clinics
Hospitals
North America: North American region is leading the market, accounting for more than 42.0 % of sales in 2022. Rapid medical improvements, allocation of cash for medical research, and developments are some of the primary drivers driving regional market growth. The existence of a large number of market competitors, as well as sophisticated healthcare infrastructure, are some of the important factors driving regional market growth.
Asia Pacific: With a CAGR of 13.4% throughout the projection period, Asia Pacific is predicted to be the fastest-growing market. The region's growing population and changing living patterns are increasing the number of persons suffering from illnesses. According to the World Population Ageing 2020 research, China's population over the age of 65 is expected to grow from 184.75 million in 2020 to 266.78 million by 2030. Medical device firms from throughout the world are expanding into the Asia Pacific market to take advantage of cheaper production costs, market prospects, and the region's enormous population.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Some major key players in Portable Ultrasound Market are Koninklike Philips N.V., EDAN Instruments FUJIFILM Sonosite, Inc., Shenzhen Mindray Bio-Medical Electronics Co., ALPINION MEDICAL SYSTEMS Co., Ltd., Terason Corporation, Hitachi Ltd., CHISON Medical Technologies, Healcerion, GE Healthcare other players.
G.E. Healthcare: In 2021, G.E. Healthcare, a global medical technology and digital solutions provider, introduced Scan Air, a wireless small ultrasound that gives crystal clear picture quality and complete body coverage.
PulseNmore: In 2020, PulseNmore announced the release of a tela-ultrasound gadget to help pregnant women undertake at-home ultrasound tests and limit journeys to hospitals or clinics during the epidemic. The firm inked an arrangement with Clalit Health Services to deliver PulseNmore's product to tens of thousands of its pregnant members.
Clarius Mobile Health: In 2020, Clarius Mobile Health revealed that pain management doctors throughout the world are increasingly using its Clarius L7 HD handheld ultrasound scanner. It tends to provide high-quality ultrasound imaging of anatomy beneath the skin for more accurate and precise pain medication application.
| Report Attributes | Details |
| Market Size in 2023 | US$ 2678.60 Mn |
| Market Size by 2031 | US$ 7481.55 Mn |
| CAGR | CAGR of 13.4% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Touchscreen, and Built-in-console) • By End User (Clinics, and Hospitals) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Koninklike Philips N.V., EDAN Instruments FUJIFILM Sonosite, Inc., Shenzhen Mindray Bio-Medical Electronics Co., ALPINION MEDICAL SYSTEMS Co., Ltd., Terason Corporation, Hitachi Ltd., CHISON Medical Technologies, Healcerion, GE Healthcare |
| Key Drivers | • Increasing product launches is also a positive aspect of this market growth. • Increased use of these technologies in emergency departments will boost the global market. |
| Market Restraints | • Portable Ultrasound devices are costly as compare to traditional devices in the market. • Concerns about regulatory changes, along with limited reimbursement, will stifle market growth. |
Ans. The Compound Annual Growth rate for Portable Ultrasounds Market over the forecast period is 13.4%.
Ans. USD 6442.46 Million is the projected Portable Ultrasounds market size of the market by 2030.
Ans. Asia Pacific is the fastest-growing region of the Portable Ultrasounds Market.
Ans. The rising prevalence of chronic disorders, the increasing adoption of portable devices, the growing geriatric population are the major drivers for the market growth.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia-Ukraine War
4.2 Impact of ongoing recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Portable Ultrasound Market Segmentation, by Type
8.1 Touchscreen
8.2 Built-in-console
9. Portable Ultrasound Market Segmentation, by End User
9.1 Clinics
9.2 Hospitals
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Portable Ultrasound Market by Country
10.2.2 North America Portable Ultrasound Market by Type
10.2.3 North America Portable Ultrasound Market by End User
10.2.4 USA
10.2.4.1 USA Portable Ultrasound Market by Type
10.2.4.2 USA Portable Ultrasound Market by End User
10.2.5 Canada
10.2.5.1 Canada Portable Ultrasound Market by Type
10.2.5.2 Canada Portable Ultrasound Market by End User
10.2.6 Mexico
10.2.6.1 Mexico Portable Ultrasound Market by Raw Technology
10.2.6.2 Mexico Portable Ultrasound Market by End User
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Portable Ultrasound Market by Country
10.3.1.2 Eastern Europe Portable Ultrasound Market by Type
10.3.1.3 Eastern Europe Portable Ultrasound Market by End User
10.3.1.4 Poland
10.3.1.4.1 Poland Portable Ultrasound Market by Type
10.3.1.4.2 Poland Portable Ultrasound Market by End User
10.3.1.5 Romania
10.3.1.5.1 Romania Portable Ultrasound Market by Type
10.3.1.5.2 Romania Portable Ultrasound Market by End User
10.3.1.6 Hungary
10.3.1.6.1 Hungary Portable Ultrasound Market by Type
10.3.1.6.2 Hungary Portable Ultrasound Market by End User
10.3.1.7 Turkey
10.3.1.7.1 Turkey Portable Ultrasound Market by Type
10.3.1.7.2 Turkey Portable Ultrasound Market by End User
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Portable Ultrasound Market by Type
10.3.1.8.2 Rest of Eastern Europe Portable Ultrasound Market by End User
10.3.2 Western Europe
10.3.2.1 Western Europe Portable Ultrasound Market by Country
10.3.2.2 Western Europe Portable Ultrasound Market by Type
10.3.2.3 Western Europe Portable Ultrasound Market by End User
10.3.2.4 Germany
10.3.2.4.1 Germany Portable Ultrasound Market by Type
10.3.2.4.2 Germany Portable Ultrasound Market by End User
10.3.2.5 France
10.3.2.5.1 France Portable Ultrasound Market by Type
10.3.2.5.2 France Portable Ultrasound Market by End User
10.3.2.6 UK
10.3.2.6.1 UK Portable Ultrasound Market by Type
10.3.2.6.2 UK Portable Ultrasound Market by End User
10.3.2.7 Italy
10.3.2.7.1 Italy Portable Ultrasound Market by Type
10.3.2.7.2 Italy Portable Ultrasound Market by End User
10.3.2.8 Spain
10.3.2.8.1 Spain Portable Ultrasound Market by Type
10.3.2.8.2 Spain Portable Ultrasound Market by End User
10.3.2.9 Netherlands
10.3.2.9.1 Netherlands Portable Ultrasound Market by Type
10.3.2.9.2 Netherlands Portable Ultrasound Market by End User
10.3.2.10 Switzerland
10.3.2.10.1 Switzerland Portable Ultrasound Market by Type
10.3.2.10.2 Switzerland Portable Ultrasound Market by End User
10.3.2.11 Austria
10.3.2.11.1 Austria Portable Ultrasound Market by Type
10.3.2.11.2 Austria Portable Ultrasound Market by End User
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Portable Ultrasound Market by Type
10.3.2.12.2 Rest of Western Europe Portable Ultrasound Market by End User
10.4 Asia-Pacific
10.4.1 Asia Pacific Portable Ultrasound Market by Country
10.4.2 Asia Pacific Portable Ultrasound Market by Type
10.4.3 Asia Pacific Portable Ultrasound Market by End User
10.4.4 China
10.4.4.1 China Portable Ultrasound Market by Type
10.4.4.2 China Portable Ultrasound Market by End User
10.4.5 India
10.4.5.1 India Portable Ultrasound Market by Type
10.4.5.2 India Portable Ultrasound Market by End User
10.4.6 Japan
10.4.6.1 Japan Portable Ultrasound Market by Type
10.4.6.2 Japan Portable Ultrasound Market by End User
10.4.7 South Korea
10.4.7.1 South Korea Portable Ultrasound Market by Type
10.4.7.2 South Korea Portable Ultrasound Market by End User
10.4.8 Vietnam
10.4.8.1 Vietnam Portable Ultrasound Market by Type
10.4.8.2 Vietnam Portable Ultrasound Market by End User
10.4.9 Singapore
10.4.9.1 Singapore Portable Ultrasound Market by Type
10.4.9.2 Singapore Portable Ultrasound Market by End User
10.4.10 Australia
10.4.10.1 Australia Portable Ultrasound Market by Type
10.4.10.2 Australia Portable Ultrasound Market by End User
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Portable Ultrasound Market by Type
10.4.11.2 Rest of Asia-Pacific Portable Ultrasound Market by End User
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Portable Ultrasound Market by Country
10.5.1.2 Middle East Portable Ultrasound Market by Type
10.5.1.3 Middle East Portable Ultrasound Market by End User
10.5.1.4 UAE
10.5.1.4.1 UAE Portable Ultrasound Market by Type
10.5.1.4.2 UAE Portable Ultrasound Market by End User
10.5.1.5 Egypt
10.5.1.5.1 Egypt Portable Ultrasound Market by Type
10.5.1.5.2 Egypt Portable Ultrasound Market by End User
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Portable Ultrasound Market by Type
10.5.1.6.2 Saudi Arabia Portable Ultrasound Market by End User
10.5.1.7 Qatar
10.5.1.7.1 Qatar Portable Ultrasound Market by Type
10.5.1.7.2 Qatar Portable Ultrasound Market by End User
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Portable Ultrasound Market by Type
10.5.1.8.2 Rest of Middle East Portable Ultrasound Market by End User
10.5.2 Africa
10.5.2.1 Africa Portable Ultrasound Market by Country
10.5.2.2 Africa Portable Ultrasound Market by Type
10.5.2.3 Africa Portable Ultrasound Market by End User
10.5.2.4 Nigeria
10.5.2.4.1 Nigeria Portable Ultrasound Market by Type
10.5.2.4.2 Nigeria Portable Ultrasound Market by End User
10.5.2.5 South Africa
10.5.2.5.1 South Africa Portable Ultrasound Market by Type
10.5.2.5.2 South Africa Portable Ultrasound Market by End User
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Portable Ultrasound Market by Type
10.5.2.6.2 Rest of Africa Portable Ultrasound Market by End User
10.6 Latin America
10.6.1 Latin America Portable Ultrasound Market by Country
10.6.2 Latin America Portable Ultrasound Market by Type
10.6.3 Latin America Portable Ultrasound Market by End User
10.6.4 Brazil
10.6.4.1 Brazil Portable Ultrasound Market by Type
10.6.4.2 Brazil Portable Ultrasound Market by End User
10.6.5 Argentina
10.6.5.1 Argentina Portable Ultrasound Market by Type
10.6.5.2 Argentina Portable Ultrasound Market by End User
10.6.6 Colombia
10.6.6.1 Colombia Portable Ultrasound Market by Type
10.6.6.2 Colombia Portable Ultrasound Market by End User
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Portable Ultrasound Market by Type
10.6.7.2 Rest of Latin America Portable Ultrasound Market by End User
11 Company Profile
11.1 Koninklike Philips N.V
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 EDAN Instruments
11.2.1 Company Overview
11.2.2 Financials
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 FUJIFILM Sonosite, Inc
11.3.1 Company Overview
11.3.2 Financials
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Shenzhen Mindray Bio-Medical Electronics Co
11.4 Company Overview
11.4.2 Financials
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 ALPINION MEDICAL SYSTEMS Co., Ltd
11.5.1 Company Overview
11.5.2 Financials
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Terason Corporation
11.6.1 Company Overview
11.6.2 Financials
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 Hitachi Ltd
11.7.1 Company Overview
11.7.2 Financials
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 CHISON Medical Technologies
11.8.1 Company Overview
11.8.2 Financials
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 Healcerion
11.9.1 Company Overview
11.9.2 Financials
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 GE Healthcare
11.10.1 Company Overview
11.10.2 Financials
11.10.3 Product/Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
14. Conclusion
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