Point Of Care Ultrasound Systems Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2022-2030

Published Date : Jan 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Point Of Care Ultrasound Systems market size is expected to be worth around US$ 2.7 billion by 2030, according to a new report by Vision Research Reports.

The global Point Of Care Ultrasound Systems market size was valued at US$ 750.4 million in 2021 and is anticipated to grow at a CAGR of 6.8% during forecast period 2022 to 2030.

Growth Factors

Increasing number of emergency visits to hospitals with undifferentiated signs and symptoms is expected to increase the demand for point of care ultrasounds owing to its ability to quickly and effectively assess these critical conditions.

Point of care ultrasound devices are being used as a therapeutic device, diagnostic device as well as device guiding medical procedures in the field such as cardiology, musculoskeletal, vascular surgery and urology. Increasing popularity of ultrasound devices in point of care settings for several applications owing to its advantages such as low-cost, wide scope, and safety as competed to other imaging alternatives is expected to foster the market growth. Moreover, integration of advanced technologies to provide clearer images is expected to increase its adoption in several healthcare facilities.

Growing number of strategic initiatives such as introduction of innovative technology with integrated features by the major market players to maintain the market share is propelling the growth of the market. Moreover, establishment of echocardiology society and evolving government and non-government program supporting the training, education and research on point of care ultrasound system, is anticipated to boost the market growth during the forecast period.

Report Highlights

Trolley based devices held the largest market share based on mobility of PoCUS in 2020. High adoption of trolley-based device by hospitals and clinics to perform sophisticated measurements contributes to the segment share, whereas, handheld devices are expected to grow at the fastest rate over the forecast period. The growth dxis largely due to the advantages associated with it such as affordability and portability. Moreover, the increasing need for advanced devices to perform bedside monitoring is expected to contribute towards the adoption of handheld ultrasounds.

Manufactures in handheld PoCUS market are focused on introduction of innovative technology and transducers that can easily integrate with smartphones and can provide an exquisite ultrasound imaging on a mobile screen. Butterfly Network recently launches its handheld PoCUS called Butterfly IQ, this device has a transducer that can connect to an iPhone or iPad, downloaded with butterfly IQ app converting the iPhone into good quality ultrasound monitor. 

Companies in this market are focused on streamlining the workflow process with introduction of trolley-based PoCUS with features such as fewer dropdown menus, faster processing time, automation in measurements and minimum keystrokes. 

The global PoCUS market is segmented based on application into emergency medicine, cardiology, obstetrics and gynecology, urology, vascular surgery, and musculoskeletal. Emergency medicine segment held the largest market share in 2020 and is expected to grow at a lucrative CAGR of 5.8% over the forecast period. Ability of PoCUS to provide critical clinical information quickly and flexibly has led to rising adoption as emergency diagnostic tool in emergency care.

Emergency department physicians are continuously confronted with critically ill patients with undifferentiated complaints underlying the need to perform a time sensitive diagnostic decision and effective therapeutic interventions. Ultrasound scan, in point of care settings, can be performed directly at the time of physical examination within a matter of minutes providing answer to a number of clinical questions and reducing the number of active differential diagnosis.

The other segments such as urology, obstetrics & gynecology and musculoskeletal are also expected to grow at a lucrative CAGR over the forecast period. The PoCUS devices are also used as an intraoperative imaging tool in procedures such as central venous catheterization, peripheral venous catheterization, thoracentesis, and arthrocentesis. According to the NCBI, 1.5 million people suffer from pleural effusion every year out of which more than 178,000 undergo thoracentesis. PoCUS is used as a diagnostic equipment and guiding tool during thorancentesis, in order to understand the depth of insertion of needle into the pleural cavity. 

The global PoCUS market is segmented based on type into diagnostics and therapeutic devices. Devices used for examination of sign and symptoms are classified as diagnostic devices and device used for image guidance during operations are classified as therapeutic device. Diagnostics devices held the largest market share and is expected to grow at a healthy CAGR over the forecast period.

The growth of this segment is largely due to the associated advantages such as its ability in rapid assessment of critically ill patients presented with variety of symptoms such as shortness of breath, chest pain, and undifferentiated hypotension. Increasing number of ED visits with undifferentiated symptoms over years is expected to contribute to the rising adoptions of diagnostics devices.

Therapeutic device segment is expected to exhibit significant growth over the forecast period. The unique features of therapeutic devices in physiological monitoring such as hemodynamic assessment, preload, afterload, cardiac functions (LVF & RVF), and volume status are expected to drive the demand for advanced PoCUS devices in hospitals and clinics

In terms of end-user, the global point of care ultrasound devices market is segmented into hospitals, clinics, and ambulatory surgical center. Hospital segment accounted for the largest market share in 2020. Increasing number of emergency visits to hospitals with conditions such as abdominal pain, abdominal/thoracic trauma, cardiac arrest, and pleural effusion with undifferentiated complaints has led to the increasing demand for point of care systems including devices. Moreover, the multiple uses of PoCUS as diagnostics, therapeutic and guiding devices across various procedures has led to their increased usage in hospitals contributing to its market share.

North America dominated the market in 2020 owing to presence efficient reimbursements policies and increasing acceptance towards advanced technology coupled with developed healthcare infrastructure. High presence of major market players based in the region and presence of organization such as American college of cardiology and American society of echocardiology involved in PoCUS education and training programs.

Europe accounted for the second largest market share in 2020. Increasing demand for advance PoCUS with presence of major players based in Germany, the U.K. has contributed to its market share. European Society of Emergency Medicine takes initiatives such as establishing forum for discussions of emergency ultrasound and develop and deliver several short and basic ultrasound courses are expected to aid to the growth of this market.

Key Players

Analogic Corporation; CANON MEDICAL SYSTEMS CORPORATION; ESAOTE SPA; Siemens Healthcare GmbH; GE Healthcare; Koninklijke Philips NV

Market Segmentation

  • Mobility Outlook 

    • Trolley based devices

    • Hand-held devices

  • Application Outlook

    • Emergency medicine

    • Cardiology

    • Obstetrics and Gynecology

    • Oncology surgery

    • Urology

    • Vascular surgery

    • Musculoskeletal

  • End-use Outlook

    • Hospitals

    • Clinics

    • Ambulatory surgical center

    • Others

  • Type Outlook

    • Diagnostic devices

    • Therapeutic devices

  • Regional Outlook 

    • North America

      • The U.S.

      • Canada

    • Europe

      • Germany

      • UK

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • Japan

      • India

      • Thailand

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

      • Colombia

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

The Point Of Care Ultrasound Systems market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Point Of Care Ultrasound Systems market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Point Of Care Ultrasound Systems market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Point Of Care Ultrasound Systems market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Point Of Care Ultrasound Systems market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Point Of Care Ultrasound Systems capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Point Of Care Ultrasound Systems by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Point Of Care Ultrasound Systems market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Point Of Care Ultrasound Systems market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Point Of Care Ultrasound Systems market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Point Of Care Ultrasound Systems industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Point Of Care Ultrasound Systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Point Of Care Ultrasound Systems market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Point Of Care Ultrasound Systems market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Point Of Care Ultrasound Systems market. These factors have benefited the growth of the global market for Point Of Care Ultrasound Systems. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Point Of Care Ultrasound Systems. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Point Of Care Ultrasound Systems are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market

To strategically profile the key players and comprehensively analyze their growth strategies.

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