February 13, 2020
According to a recent study titled, ‘Point of Care Ultrasound Market Size By Type (Diagnostic Devices, Therapeutic Devices), By Portability (Trolley Based Devices, Handheld Devices), By Application (Emergency Medicine, Cardiology, Obstetrics & Gynecology, Urology, Vascular Surgery, Musculoskeletal), By End-use (Hospitals, Clinics, Maternity Centers, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Japan, China, India, Australia, South Korea, Brazil, Mexico, Saudi Arabia, South Africa), Application Potential, Competitive Market Share & Forecast, 2019 - 2025’ available with Market Study Report LLC, the global point of care ultrasound market is projected to cross USD 3 billion by the year 2025.
Rising adoption of point of care ultrasound (POCUS) in emergency departments for diagnosis of trauma cases, in tandem with technological advancements is driving the growth of POCUS market. Use of ultrasound for sonography enables a physician to ascertain appropriate patient disposition. POC ultrasound is an effective tool for treating trauma patients through procedural assistance including anesthesia and vascular access.
Increasing number of births across the globe will further boost the point of care ultrasound market growth in the coming years. POC ultrasound is widely used during pregnancy to monitor free fluid, fetal heart rate, and to detect anomalies related to baby position in the womb. This factor coupled with rising focus towards improving patient care will augment the demand for POC ultrasound devices over the analysis period. However, unfavorable reimbursement policies may hamper the market growth to some extent.
Based on the product type, therapeutic devices segment accounted for more than 30% revenue share in 2018 and is projected to exhibit a strong CAGR during the study period. Extensive use of therapeutic devices in homecare settings will drive the segment growth. Furthermore, use of these devices in non-invasive procedures and cosmetic surgeries will augment the segmental share.
Speaking of the application scope, musculoskeletal segment held 14% revenue share in 2018 and is anticipated to witness a sizeable growth during the forecast period, owing to the use of POC ultrasound for assessing muscle tear and intramuscular hemorrhage. The device also aids in diagnosing patients experiencing musculoskeletal disorder symptoms.
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Elaborating on the end-use spectrum, point of care ultrasound market from maternity centers segment was worth USD 340 million in 2018 and will see considerable growth over the forecast timeline. The segmental growth can be attributed to increasing birth rates in conjunction with high demand of POC ultrasounds for providing accurate health data.
Considering the geographical outlook, North America point of care ultrasound market is slated to grow with a CAGR of 4% through 2025. Rising prevalence of chronic diseases and growing awareness regarding the benefits of early diagnosis are stimulating the regional growth.
The major players of point of care ultrasound market are Analogic, Esaote, Canon Medical Systems, Fujifilm, GE Healthcare, B. Braun, Koninklijke Philips, Siemens Healthcare, Mindray Bio-Medical Electronics, Toshiba, and Samsung Electronics.
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