Portable Ultrasound Devices Market Projected To Grow With Significant CAGR Over The Forecast Period
Posted: May 14, 2018
Portable ultrasound is a type of imaging medical device that uses high-frequency sound waves to visualize the internal body organs. Portable ultrasound devices are available to wireless features such as Bluetooth and near-field communication to deliver sophisticated home-based healthcare for patients. Such wireless devices help increase mobility, connectivity, and portability. The portable ultrasound device contains a probe for the transmission of high-frequency ultrasonic sound waves into the patient’s body. These high-frequency sound waves reflected by body organs into the probe and are transmitted to a display and generate the image by using echoes. The portable ultrasound machine system is used to visualize kidneys, liver, human fetus, heart, blood vessels, and other internal organs. These devices are commonly used in wide range of areas including emergency medicine, musculoskeletal imaging, among others.
Portable ultrasound devices market is growing at a significant rate due to the increase in the geriatric population and rising in the prevalence of various chronic diseases such as cancer, diabetes, and various cardiovascular diseases, increase in the spectrum of applications, and technology advancement in the manufacturing of portable ultrasound devices (3D and 4D) are the important factors affecting the growth of portable ultrasound devices market. Similarly, increase in public-private partnership investments, rise in preference for minimally or non-invasive therapeutic and diagnostic techniques, higher healthcare expenditures will also help the growth of portable ultrasound devices market. However, high cost for the portable ultrasound devices, the risk of patient data storage, lack of skilled and experienced sonographers, and strict regulatory policies for product approval are hampering the portable ultrasound devices market growth.
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The portable ultrasound devices market is divided into-
1. Product type
- Bedside Devices
- Trolley/Cart Based Devices
- Handheld Devices
- Traditional Areas
- Emerging Areas
- Emergency Medicine
- Diagnostics Portable Ultrasound Devices
- 2D, 3D, and 4D Technology
- Doppler Technology
- Therapeutics Portable Ultrasound Devices
- Extracorporeal Shockwave Lithotripsy
- High-intensity Focused Ultrasound
Hospitals, diagnostic centers, ambulatory Care centers and others.
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And lastly, on the basis of the geographical regions portable ultrasound devices market are divided into-North America, Europe, Latin America, Middle East & Africa, and Asia-Pacific. Europe expected to hold the largest share in the portable ultrasound devices market due to increasing incidence rate of chronic disorders, a rise in the demand for advanced ultrasound systems, and presence of developed healthcare infrastructure expected to propel the portable ultrasound devices market. However, the Asia-Pacific is growing into the market owing to, increased awareness about the ultrasound procedures and rise in the healthcare expenditure. In addition, the rapidly growing aging population in also helps the market players to invest in Asia-Pacific countries, which could contribute the growth of portable ultrasound devices market. Some of the key players in portable ultrasound devices market are Fujifilm Holdings Corporation (Japan), Esaote SpA (Italy), Analogic Corporation (U.S), Koninklijke Philips N.V. (Netherlands), Siemens Ltd. (Germany), Hitachi, Ltd. (Japan), Toshiba Corporation (Japan), General Electric Corporation (U.S.), and Mindray Medical International Ltd (China) to name a few. In 2017, Philips obtained Tomtec, clinical applications, and imaging Software Company to strengthen its ultrasound business. In 2014, Analogic introduced the new Flex Focus 400 exp ultrasound system designed for point-of-care applications including anesthesia, pain management, musculoskeletal and emergency medicine.
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Factors such as mergers and acquisitions, collaborations, partnership, new product launches, approvals from USFDA and EMEA, etc. will potentially grow the portable ultrasound devices market. For instance, in December 2011, Fujifilm’s acquired Sonosite for the development of high-quality imaging technologies and pioneering point-of-care expertise to drive next-generation medical imaging solutions. Similarly, in 2015, GE Healthcare launched a new portable ultrasound system which is designed for frontline healthcare workers to help improve maternal health in developing regions; the device will enable clinicians to provide care to their patients even in the most remote of settings.
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