Global Portable Ultrasound Market size was estimated to be worth USD 4.20 Billion in 2022 and is projected to reach a value of USD 7.44 Billion by 2030, growing at a fast CAGR of 7.4% during the forecast period 2023-2030.
The outbreak of the COVID-19 pandemic substantially impacted the global portable ultrasound market. The implementation of strict lockdowns, traveling restrictions, and social distancing measures across several nations hindered many companies' manufacturing capacities and caused a shortage of skilled workforce. The pandemic caused disruptions in supply chains and distribution of goods and services, which highly affected the production and distribution of portable ultrasound devices. Moreover, the shifted focus of healthcare infrastructure resources and personnel to COVID-19 testing and treatment further worsened the demand for portable ultrasound devices. These factors negatively impacted the growth of the global portable ultrasound market. Despite these challenges, the global portable ultrasound market is projected to recover and grow in the coming years.
The rising awareness regarding the benefits of portable ultrasound devices is fueling the growth of the global portable ultrasound market. Portable ultrasound devices are more accessible and affordable in contrast to conventional ultrasound machines and have made it possible for doctors to perform ultrasound imaging wherever the patient is located. As a result, patients now have access to quicker diagnosis and treatment owing to the increased convenience for both patients and healthcare practitioners. These devices have extended the reach of medical care to remote areas that cannot accommodate larger equipment. Portable ultrasound devices offer excellent image quality that was previously only available through larger, less mobile ultrasound machines. The size of portable ultrasound devices is also continuously reducing, with a range of options available from laptop-based devices to various handheld scanners. Therefore, this factor drives the demand for portable ultrasound devices. Another factor fueling the expansion of the global portable ultrasound market is the growing use of portable ultrasound devices in the field of cardiology. Portable cardiac ultrasound devices are affordable, lightweight, and easy to carry around. They offer excellent image quality, which is comparable to that of conventional larger machines, allowing for accurate diagnosis. Additionally, these devices come equipped with cutting-edge quantification tools, which help to increase measurement efficiency and accuracy and facilitate the workflow of healthcare practitioners. They offer a convenient alternative to traditional physical exams and have the potential to make non-invasive cardiovascular imaging more widely available. Therefore, this factor also drives the demand for portable ultrasound devices.
The global portable ultrasound market is encountering challenges, primarily in terms of the shortage of skilled professionals and limited reimbursement. In order to interpret the images from portable ultrasound devices and make precise diagnoses, qualified personnel are needed. A significant hurdle can be the lack of skilled professionals, which can limit the adoption of portable ultrasound devices, particularly in rural and underserved areas. Moreover, reimbursement for portable ultrasound procedures is only granted if the usage meets specific criteria set by the payer. An increase in unnecessary imaging and inaccurate diagnosis may also result in stricter regulations, which could limit the adoption of these devices in the future. Thus, these challenges inhibit the growth of the global portable ultrasound market.
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