June 4, 2024

Portable Ultrasound Devices Market Size, Growth, Report by 2033

The global portable ultrasound devices market size was estimated at USD 2.22 billion in 2023 and is projected to rise around USD 3.83 billion by 2033, growing at a CAGR of 5.62% from 2024 to 2033.

Key Points

  • The North America portable ultrasound devices market size accounted for USD 950 million in 2023 and is expected to attain around USD 1,670 million by 2033, poised to grow at a CAGR of 5.80% between 2024 and 2033.
  • North America dominated the market with the largest revenue share of 43% in 2023.
  • Asia Pacific is estimated to grow at the fastest CAGR of 6.72% during the forecast period.
  • By type, the handheld segment has held the largest revenue share of 56% in 2023.
  • By application, the obstetrics/gynecology segment has contributed a major revenue share of 47% in 2023.
  • By application, the cardiovascular segment is estimated to expand at a solid CAGR of 7.12% during the forecast period.
  • By technology, the Doppler ultrasound segment has generated more than 47% of revenue share in 2023.
  • By technology, the 3D and 4D ultrasound segment is projected to grow at a notable CAGR of 8.05% during the forecast period.
  • By end-use, the hospitals & clinics segment has held the maximum revenue share of 57% in 2023.
  • By end-use, the homecare segment is growing at a CAGR of 7.04% during the forecast period.

Portable Ultrasound Devices Market Size 2024 to 2033

The portable ultrasound devices market is experiencing significant growth due to advancements in medical technology and the increasing need for convenient, point-of-care diagnostic tools. These devices are compact, lightweight, and provide high-resolution imaging, making them suitable for use in various healthcare settings, including hospitals, clinics, and even remote areas. Portable ultrasound devices are widely used for applications in cardiology, obstetrics and gynecology, musculoskeletal, and other medical fields.

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Growth Factors

Several factors are driving the growth of the portable ultrasound devices market. Firstly, the rising prevalence of chronic diseases such as cardiovascular diseases and cancer necessitates frequent and efficient diagnostic procedures. Additionally, the aging population, particularly in developed countries, increases the demand for portable and home-based healthcare solutions. Technological advancements, including the development of handheld and wireless ultrasound devices, enhance the usability and accessibility of these tools. Moreover, the increasing emphasis on early diagnosis and preventive healthcare further boosts market growth.

Region Insights

The market for portable ultrasound devices is geographically diverse, with significant variations in adoption and growth rates across different regions. North America holds a substantial share of the market due to its advanced healthcare infrastructure, high healthcare expenditure, and early adoption of innovative technologies. Europe also represents a significant market, driven by similar factors. In the Asia-Pacific region, the market is expanding rapidly due to the growing healthcare sector, increasing government investments in healthcare infrastructure, and rising awareness about early disease diagnosis. Emerging economies in Latin America and Africa are also witnessing growth, although at a slower pace, driven by improving healthcare facilities and increasing demand for affordable diagnostic tools.

Portable Ultrasound Devices Market Scope

Report Coverage Details
Portable Ultrasound Devices Market Growth Rate CAGR of 5.62% from 2024 to 2033
Portable Ultrasound Devices Market Size in 2023 USD 2.22 Billion
Portable Ultrasound Devices Market Size in 2024 USD 2.34 Billion
Portable Ultrasound Devices Market Size by 2033 USD 3.83 Billion
Largest Market North America
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered Type, Application, Technology, End-Use, and Regions
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

 

Portable Ultrasound Devices Market Dynamics

Drivers

Key drivers of the portable ultrasound devices market include the increasing prevalence of chronic diseases, technological advancements, and the growing demand for point-of-care diagnostics. The shift towards minimally invasive procedures and the need for real-time imaging in emergency and critical care settings also propel market growth. Additionally, government initiatives and funding to improve healthcare infrastructure and promote early diagnosis play a crucial role in driving the market.

Opportunities

The portable ultrasound devices market presents several opportunities for growth. The ongoing advancements in artificial intelligence (AI) and machine learning (ML) are expected to enhance the capabilities of ultrasound devices, making them more efficient and accurate. The increasing adoption of telemedicine and remote patient monitoring creates a demand for portable diagnostic tools that can be used in home settings. Moreover, the expansion of healthcare services in rural and underserved areas opens new avenues for market penetration. Companies investing in research and development to innovate and improve device features will likely benefit from these emerging opportunities.

Challenges

Despite the promising growth prospects, the portable ultrasound devices market faces several challenges. High costs associated with advanced ultrasound devices can be a barrier to widespread adoption, particularly in developing regions. Additionally, the lack of skilled professionals to operate these devices and interpret the results accurately is a significant challenge. Regulatory hurdles and the need for compliance with stringent healthcare standards can also impede market growth. Furthermore, competition from other imaging modalities, such as MRI and CT scans, poses a challenge to the adoption of portable ultrasound devices.

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Portable Ultrasound Devices Market Recent Developments

  • In May 2024, Esaote SPA launched a portable ultrasound system named ‘MyLab Omega eXP VET.’ This system will help veterinarians examine animals with a high level of flexibility and accuracy in diagnostic imaging. It also covers animals of all species and ensures high performance, ranging from general imaging and echocardiography to interventional procedures.
  • In April 2024, Butterfly announced that the FDA had approved its next-generation handheld point-of-care ultrasound (POCUS) system named iQ3. This new device features a new ergonomic design and delivers high data processing speed for optimized image resolution and accuracy for the detection of various body parts.
  • In November 2023, Aco Healthcare launched its new handheld ultrasound system, Apache Neo. This system features microwave-beamforming imaging technology that provides high-resolution medical images and accurate diagnosis to enhance patients’ overall medical experience.
  • In September 2023, Mindray Medical International Limited launched the TE Air wireless handheld ultrasound device. This device offers multi-device connectivity and flexible charging options. It also produces high-quality images and ensures accessibility in critical clinical scenarios.
  • In August 2023, GE HealthCare launched Vscan Air SL, a wireless handheld ultrasound device designed to accelerate the imaging process during cardiac and vascular problems. This device comes with GE HealthCare’s proprietary XDclear and SignalMax technology to enhance resolution and improve imaging performance.

Portable Ultrasound Devices Market Companies

  • General Electric Company
  • Siemens
  • Clarius Mobile Health
  • Koninklijke Philips N.V.
  • SAMSUNG
  • FUJIFILM Holdings Corporation
  • Shenzhen Mindray Bio-medical Electronics Co., Ltd.
  • Canon Inc.
  • BenQ Corporation
  • ESAOTE SPA
  • Hitachi
  • Butterfly Network

Segments Covered in the Report

By Type

  • Laptop-based
  • Handheld

By Application

  • Obstetrics/Gynecology
  • Cardiovascular
  • Urology
  • Gastric
  • Musculoskeletal
  • Others

By Technology

  • 2D Ultrasound
  • 3D & 4D Ultrasound
  • Doppler Ultrasound
  • High-intensity Focused Ultrasound

By End-Use

  • Hospitals & Clinics
  • Home Care
  • Others

By Geography

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East & Africa

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Prathamesh

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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