In 2021, the market for point of care ultrasound was USD 3.01 billion, and by 2030 it will be worth USD 5.9 billion, growing at a 5.7% CAGR during 2021-2030.
Primary care doctors use point-of-care ultrasound as a type of physical examination to clarify confusing results. It is portable ultrasonography used for diagnostic and therapeutic purposes at the patient’s bedside. It is utilized in several clinical settings, including the emergency department, to look into any internal or external pathological findings and the critical care unit to monitor therapeutic conditions. Point-of-care ultrasonography can be used in physiological monitoring, such as hemodynamic evaluation, preload, cardiac function (LVF and RVF), afterload, and volume status. It has several potential benefits over conventional techniques, such as better patient outcomes, lower expenditures, lower mortality rates, and reduced medical risk situations.
Market Dynamics
Drivers
The requirement for quick bedside diagnostics information analysis and the rise in patient radiation protection concerns are the main factors boosting the implementation of point-of-care ultrasonography. Due to the quick development of portable and hand-carried systems, diagnostic ultrasound manufacturers are becoming more aware of the importance of handheld units that enable doctors or other healthcare professionals to carry point-of-care ultrasound into hospital or any other place.
Point-of-care ultrasound is now widely used in emergency rooms (EDs), perioperative care units, and acute care floors in hospitals and clinics. As a result, such devices are receiving a lot of attention from emerging countries, which is one of the main aspects boosting the market’s expansion.
Restraints
market growth is hampered by high product costs, unfavorable reimbursement practices in developing and underdeveloped economies, strict regulatory laws, and a shortage of experienced specialists in emerging nations.
Opportunity
The demand for point of care ultrasounds will increase in developed and developing countries due to its various therapeutic and diagnostic applications. Undifferentiated shock, cardiac arrest resuscitation, abdominal/thoracic trauma, pulmonary embolism, pericardial effusion, dyspnea, and abdominal pain are some conditions in which PoCUS is primarily used for diagnostic purposes.
Market Segmentation
By Device Type
In 2020, the diagnostic segment ruled the entire market, with the largest revenue share of nearly 65% due to the increasing frequency of chronic disorders globally. Because diagnostic ultrasound uses low-power sound waves. There are no significant risks associate with its usage, and it is more affordable than other medical imaging techniques.
By Portability
The handheld devices sector led the overall market with revenue of USD 1 billion in 2020. Manufacturing companies have reduced the gadget’s price in response to the growing demand from primary care providers. These ultra-portable devices can be use in ASCs, distant healthcare facilities, and hospitals for diagnostic and therapeutic purposes. Customers using handheld ultrasound devices include cardiologists and emergency medicine doctors.
By Application
In 2020, the Emergency Medicine sector was the largest market contributor. This is because emergency care facilities use emergency diagnostic equipment more frequently. The ultrasonic scan can be complete immediately during the physical examination in minutes, answering several clinical queries and lowering the number of open differential diagnoses.
By End-User
In 2020, the hospital sector had a market share of more than 50% and a CAGR of 5.5 percent. This is due to the rise in point-of-care system demand and the rising number of emergency hospital visits for symptoms ranging from mild to severe thoracic/abdominal injuries, abdominal pain, pleural effusion, and cardiac arrest.
By Region
In 2021, North America was the global market leader, with a revenue share of 33.5%. It is because of the rising frequency of chronic diseases, increased government support for research and development of ultrasound systems, technological advancements, well-established market players, and the growth of the healthcare system. According to the CDC, chronic disease is the most prevalent cause of disability & death in the United States, affecting over 6 in 10 adults.
Key Players
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- E. Healthcare
- FUJIFILM Sonosite, Inc.
- Hitachi Ltd.
- EDAN Instruments
- Koninklijke Philips N.V.
- ALPINION MEDICAL SYSTEMS Co., Ltd.
- Terason Corporation
- Butterfly Network, Inc.
- Healcerion
- Bard Access Systems Inc.
- R.E. Medical
- Advanced Instrumentations
- Teknova Medical Systems Co., Ltd.
- Landwind Medical
- DRAMINSKI S. A.
- CHISON Medical Technologies
In 2021, the market for point of care ultrasound was USD 3.01 billion. And by 2030 it will be worth USD 5.9 billion, growing at a 5.7% CAGR during 2021-2030. The rising rate of chronic disorders and the increased demand for point-of-care in emergency departments will fuel market growth.
The different purposes of point of care ultrasounds however helpful as well as demonstrative gadget may be supposed to support the interest for these gadgets in created as well as creating districts. Significant diagnostics use of PoCUS incorporates condition like undifferentiated shock, heart failure revival, stomach/thoracic injury, pneumonic embolism, pericardial emission, dyspnea, and stomach torment.
Helpful uses of PoCUS incorporate administration of torment, aggravation, and muscle fit. This is one of the significant purposes for the rising use of PoCUS gadgets in crisis division. Expanding ubiquity of these gadgets and presentation of reasonable items are a portion of the elements expected to help the interest for in-house use.
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