The global portable ultrasound devices market was valued nearly at $3 trillion in 2018. The Americas region was the largest market for portable ultrasound devices, accounting for around 45% of the global market in 2018.
The portable ultrasound devices market consists of the sales of portable ultrasound devices and related services by entities (organizations, sole traders and partnerships) that manufacture portable ultrasound devices for use in the healthcare industry.
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Portable Ultrasound Devices Market Size
The global portable ultrasound devices market size is expected to grow at a growth rate of about 23% by 2022. Growth in historic period resulted from rapid technological advances coupled with large-scale investments in the healthcare industry, support from governments and private organizations for research and development that resulted in innovations, and increased size of the aging populations with mobility issues. Factors that negatively affected growth in the historic period were high costs of maintenance of portable ultrasound devices, and privacy and security concerns about patients’ data.
The portable ultrasound devices market is consolidated, with a few large players. The top 10 players in the market constitute to nearly one half of the market, and made up to around 54% of the total market in 2018. Key players in this market include General Electric Company, Koninklijke Philips N.V., Siemens Healthineers, Canon Inc, and FUJIFILM SonoSite.
General Electric Company was the largest company in the portable ultrasound devices market in 2018. GE Healthcare operates as a subsidiary of General Electric Company. The company provides essential healthcare technologies to developed and emerging markets and has strong expertise in medical imaging, software and information technology (IT), patient monitoring and diagnostics, drug discovery, biopharmaceutical manufacturing technologies and performance improvement solutions. The company was established in 1994 and is headquartered in Massachusetts, the USA.
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The Portable ultrasound devices market is segmented by type of device, by end-use application, and by geography.
Segmentation by Type of Device The Portable ultrasound devices market can be segmented by type of device into
- a) Mobile Ultrasound Devices
- b) Handheld Ultrasound Devices
Handheld ultrasound devices had the highest growth rate of 29.9% during the historic period. The growth in the historic period can be attributed to the demand for handheld ultrasound devices used in abdominal, pelvic, fetal, peripheral vessel and cardiac imaging.
Segmentation by Type of End-Use Application The portable ultrasound devices market can be segmented by end-use application into
- a) Cardiovascular
- b) Obstetrics / Gynecology
- c) Gastro
- d) Musculoskeletal
- e) Point of Care / Others
Point of Care / Others segment had the highest growth rate of 23.2% during the historic period. The growth in the historic period can be attributed to the increased applications of portable ultrasound devices used in dermatology, critical care medicine, anesthesia and ophthalmology.
Segmentation by Geography The portable ultrasound devices market can be segmented by geography into
- a) Americas
- b) Europe
- c) Asia-Pacific
- d) MEA
The Americas was the largest region in the global portable ultrasound devices market accounting for almost 44.6% of the global market. It was followed by Europe, Asia-Pacific and MEA. Going forward, Asia-Pacific, and Europe will be the fastest growing regions in this market.
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