Portable Ultrasound Market Size (2024 - 2030)

Global Portable Ultrasound Market is estimated to be worth USD 4.51 Billion in 2023 and is projected to reach a value of USD 7.43 Billion by 2030, growing at a CAGR of 7.4% during the forecast period 2024-2030.

Portable ultrasound devices are compact medical imaging devices that utilize ultrasound for diagnostics. They are smaller and lighter than the conventional console-style ultrasound machines that came before them. Most of these mobile systems can be hand-carried, and some even operate on battery power. The initial portable ultrasound devices were first seen in the early 1980s, but it was only in the late 1990s that battery-powered, easily portable systems became commercially procurable.

Portable ultrasound devices find application in scenarios where there's restricted space, mobility is paramount, or scanning requires to be done on-site. OB/GYN doctors were the pioneers in using portable ultrasound systems as they could be brought to the patient's bedside or were affordable for private practices. Today, portable ultrasound devices are employed in Cardiac, Vascular, Radiology, Endocrinology, Pediatric, and OB/GYN applications. Furthermore, EMS personnel in nations like Germany, Italy, France, and the United States have employed portable ultrasound evaluations in the field.

Global Portable Ultrasound Market Drivers:

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 propels the demand for portable ultrasound devices.

The growing use of portable ultrasound devices in the field of cardiology is another factor contributing to the growth of the Global Portable Ultrasound Market.

Portable cardiac ultrasound devices are considered budget-friendly and lightweight. They offer top-notch image quality, which is comparable to that of standard larger machines and permits precise diagnosis. They come equipped with avant-garde quantification tools, which help to elevate measurement efficiency and precision and facilitate the workflow of healthcare practitioners. These devices offer a convenient alternative to conventional physical exams and have the potential to make non-invasive cardiovascular imaging more extensively available. Therefore, this factor also propels the demand for portable ultrasound devices.

Global Portable Ultrasound Market Challenges:

The Global Portable Ultrasound Market is encountering challenges, primarily in terms of a shortage of skilled professionals and limited reimbursement. To interpret the images from portable ultrasound devices and make precise diagnoses, qualified personnel are needed. A considerable roadblock can be the paucity of adept professionals, which can curb the adoption of portable ultrasound devices, particularly in rural areas. Moreover, reimbursement for portable ultrasound procedures is only granted if the usage meets specific criteria set by the payer. As medical ultrasound is relatively a new technology, it may not be covered under certain CPT codes. An upsurge in unnecessary imaging and flawed diagnosis may also result in stricter regulations, which could restrict the adoption of these devices in the future. Thus, these challenges inhibit the growth of the Global Portable Ultrasound Market. 

Global Portable Ultrasound Market Opportunities:

Market expansion strategies present a lucrative opportunity in the Global Portable Ultrasound Market. The demand for portable ultrasound devices is augmenting owing to their advantages, encompassing portability, refined image resolution, ease of use, cost-effectiveness, and non-invasiveness. Businesses specializing in the manufacturing of portable ultrasound devices can attain considerable benefits from this opportunity by broadening their product offerings to emerging markets, encompassing India, Brazil, and Mexico. By pursuing this expansion, companies can broaden their customer base and drive a notable increase in their overall revenue.

COVID-19 Impact on the Global Portable Ultrasound Market:

The Global Portable Ultrasound Market has been considerably influenced by the COVID-19 outbreak. As a result of rigorous lockdowns, travel restrictions, and social distancing measures, the demand for portable ultrasound devices waned. Delays in the expedited manufacturing and distribution of goods and services were also caused by the pandemic's influence on the market's supply chain. The shifted focus of healthcare infrastructure resources and personnel toward COVID-19 testing and treatment further worsened the demand for portable ultrasound devices. These factors negatively impacted the market's growth. Despite these challenges, the market is projected to rebound alongside the global recovery from the pandemic.

Global Portable Ultrasound Market Recent Developments:

• In July 2023, Konica Minolta launched PocketPro H2, a handheld, wireless ultrasound device known for its user-friendly features, seamless integration with existing systems, and exceptional image quality. It permits swift evaluation of soft tissues like ligaments, muscles, cartilage, inflammation, and joint stability. 

• In February 2023, Mindray launched TE Air, a handheld ultrasound system, which emphasizes quality imaging and amplified diagnostic features. Utilizing second-generation single-crystal technology and the eWave platform, it delivers clear, high-quality ultrasound images. 

• In November 2022, Royal Philips launched the Compact 5000 Series, a portable ultrasound solution, at the RSNA annual meeting in Chicago. This cutting-edge system provides top-notch diagnostic capabilities akin to premium cart-based ultrasounds, which ensure accurate exams for a broader range of patients without compromising image quality or performance.

PORTABLE ULTRASOUND MARKET REPORT COVERAGE:

Global Portable Ultrasound Market Segmentation: By Device Type

• Cart-based Ultrasound Device

• Handheld Ultrasound Device

• Laptop-based Ultrasound Device

• Tablet-based Ultrasound Device

The Handheld Ultrasound Device segment occupied the highest market share in the year 2022. The growth can be ascribed to the advantages that handheld ultrasound devices offer when contrasted with other devices. Handheld ultrasound devices are miniaturized versions of large ultrasound devices. They are highly portable, i.e., simple to carry and operate, provide crisp and clear visuals, deliver results with high precision, and are pocket-friendly. Most of these devices operate wirelessly, which facilitates easy linking with Android or iOS devices via a Wi-Fi connection. Handheld ultrasound devices can be employed in diverse applications, encompassing cardiology, radiology, obstetrics and gynecology, etc.

Global Portable Ultrasound Market Segmentation: By Technology

• 2D Ultrasound

• 3D and 4D Ultrasound

• Doppler Ultrasound

• High-intensity Focused Ultrasound

The Doppler Ultrasound segment occupied the highest market share in the year 2022. The growth can be ascribed to Doppler ultrasound's advanced medical screen, which utilizes sub-array component transducers and multi-beam parallel technology to deliver high-resolution images. Doppler ultrasound imaging, a non-invasive diagnostic procedure, employs the motion of red blood cells to reverberate high-frequency sound waves (ultrasound) and assess blood flow in arteries. This technique can function as a replacement for invasive treatments like angiography, which entails injecting dye into the blood arteries to depict them on X-ray images. Doctors are utilizing Doppler ultrasounds to evaluate artery damage or to monitor specific vein and artery treatments.

Global Portable Ultrasound Market Segmentation: By Application

• Cardiology

• Endocrinology

• Gastroenterology

• Obstetrics and Gynecology

• Others

The Obstetrics and Gynecology segment occupied the highest market share in the year 2022. The growth can be ascribed to portable ultrasound devices being flexible and easy-to-use devices for expectant parents. Portable ultrasound devices can aid doctors in examining a fetus's heart rate, evaluating its position, and checking fluid levels. Furthermore, portable ultrasound devices can be employed to detect uterine fibroids and appraise the mother's overall well-being, including any potential cardiac issues.

Global Portable Ultrasound Market Segmentation: By End User

• Ambulatory Care Centers

• Diagnostic Centers

• Hospitals

• Others

The Hospitals segment occupied the highest market share in the year 2022. The growth can be ascribed to hospitals being the prevailing medium for diagnosing and monitoring diverse health conditions. Hospitals generally comprise critical infrastructure and resources to carry out ultrasound scans across diverse medical specialties, encompassing cardiology, endocrinology, radiology, obstetrics and gynecology, etc. Portable ultrasounds have become increasingly popular in hospitals and clinics with constrained space and reliable power sources, as they provide a practical alternative to large equipment.

Global Portable Ultrasound Market Segmentation: By Region

• North America

• Europe

• Asia-Pacific

• South America

• Middle East & Africa

The region of North America dominated the Global Portable Ultrasound Market in the year 2022. The rising incidence of chronic afflictions and the aging population, the swift and extensive adoption of portable ultrasound devices, and the existence of well-developed healthcare infrastructure in nations, such as the United States and Canada, are some of the pivotal factors propelling the region's growth. Furthermore, North America houses several prominent market players, including GE HealthCare Technologies Inc., Terason Corporation, FUJIFILM Sonosite, Inc., Butterfly Network, Inc., and Analogic Corporation.

The region of Asia-Pacific is anticipated to expand at the quickest rate over the forecast period 2023-2030 owing to augmenting demand for point-of-care imaging solutions, the increasing investments by the governments in the healthcare infrastructure of nations, such as China and India, and the strong presence of significant market players, including Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Hitachi, Ltd., and Healcerion Co., Ltd.

Global Portable Ultrasound Market Key Players:

1. GE HealthCare Technologies Inc. (United States)

2. Koninklijke Philips N.V. (Netherlands)

3. Hitachi, Ltd. (Japan)

4. Terason Corporation (United States)

5. Healcerion Co., Ltd. (South Korea)

6. FUJIFILM Sonosite, Inc. (United States)

7. Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)

8. CHISON Medical Technologies Co., Ltd. (China)

9. Butterfly Network, Inc. (United States)

10. Analogic Corporation (United States)