Global Portable Ultrasound Equipment Market to Reach $2.5 Billion by 2026

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Mar 22, 2022, 10:20 ET

SAN FRANCISCO, March 22, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Portable Ultrasound Equipment - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Global Portable Ultrasound Equipment Market to Reach $2.5 Billion by 2026

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Edition: 10; Released: February 2022
Executive Engagements: 1129
Companies: 81 - Players covered include Canon Medical Systems Corporation; Clarius Mobile Health; Esaote SpA; FUJIFILM SonoSite, Inc.; FUKUDA DENSHI USA, INC.; GE Healthcare; Hitachi Medical Systems Europe Holding AG; Koninklijke Philips B.V; Mindray Medical International Limited; Samsung Healthcare; Siemens Healthineers AG; EchoNous, Inc.; Teratech Corporation (Terason); Verathon, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Product Type (Cart/Trolley-Based, Handheld); Application (Radiology, Obstetrics/Gynecology, Musculoskeletal, Cardiovascular, Gastrointestinal, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Portable Ultrasound Equipment Market to Reach $2.5 Billion by 2026
Portable ultrasound machines, in general are ideal for small hospitals, PCP offices, obstetric practices, sports medicine clinics, small physician practice and independent clinics. By delivering relative ease in its operation, portable ultrasound devices have the potential to capture significant share in the point-of-care imaging market. Portable ultrasound devices are proving to be extremely useful in applications where space is the constraint and also where mobility of devices is required for example if scanning is required to be carried out on the field. Increasing number of application areas, growing prevalence of diseases, and growing technological advancements are the key factors fostering growth in the global market. Portable ultrasound devices are increasingly used in various areas such as musculoskeletal, critical care medicine, and emergency medicine. Adoption of these devices has grown considerably on account of rising number of minimally invasive procedures and for prenatal and antenatal care of mothers who lack access to big healthcare facilities. They are also finding widespread use in urinary bladder dysfunction, abdominal evaluations, gallbladder visualization, DVT surveillance, and vascular access. Increasing AI integration in ultrasound devices, which provide the units with better diagnostics capability is another major factor promoting growth. Also, going forward, designers of handheld devices would focus more on the convenience factor, making the devices easier to use. The training barrier to adoption would thus be eliminated with easier to use and more intuitive devices.

Amid the COVID-19 crisis, the global market for Portable Ultrasound Equipment estimated at US$1.9 Billion in the year 2022, is projected to reach a revised size of US$2.5 Billion by 2026, growing at a CAGR of 6.3% over the analysis period. Cart/Trolley-Based, one of the segments analyzed in the report, is projected to grow at a 6.4% CAGR to reach US$2.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Handheld segment is readjusted to a revised 4.8% CAGR for the next 7-year period. This segment currently accounts for a 8.1% share of the global Portable Ultrasound Equipment market. Cardiologists, intensivists, and emergency medicine physicians have been some of the initial users of handheld ultrasound systems. Over the years, supported by the integration of advanced features, the devices gained acceptance among anesthesia, procedural ultrasound, and other specialists.

The U.S. Market is Estimated at $620.1 Million in 2022, While China is Forecast to Reach $257.5 Million by 2026
The Portable Ultrasound Equipment market in the U.S. is estimated at US$620.1 Million in the year 2022. The country currently accounts for a 32.52% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$257.5 Million in the year 2026 trailing a CAGR of 8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.4% and 5.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.9% CAGR while Rest of European market (as defined in the study) will reach US$279.3 Million by the end of the analysis period. Developed economies account for a major share of the market, attributed to increasing prevalence of various diseases, well developed healthcare infrastructure, easy reimbursement, and government support for technological developments. Economic growth, increasing healthcare spending, improved standard of healthcare facilities are expected to fuel demand for new equipment in developing markets. More

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