Portable Ultrasound Devices - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Portable Ultrasound Devices - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Portable Ultrasound Devices Market size is estimated at USD 2.86 billion in 2024, and is expected to reach USD 3.87 billion by 2029, growing at a CAGR of 6.23% during the forecast period (2024-2029).

The major factors that are responsible for the growth of the portable ultrasound devices market includes the increasing spectrum of applications of the portable ultrasound, increasing advancements in technology, and the growing prevalence of chronic diseases.

The introduction of portable ultrasound devices has a variety of applications in many emerging fields, like emergency medicine, critical care medicine, and musculoskeletal. Portable ultrasound devices are used for easy access to ultrasound when limited space is there. Currently, these devices are being used in the major areas of diseases, such as cardiology, radiology endocrinology and gynecology. Since there is a rising need of ambulatory services across developing as well as developed countries, the demand for portable ultrasound devices is increasing, which is leading to the growth of the market.

Portable Ultrasound Devices Market Trends

Mobile Ultrasound Devices is Expected to Grow with High CAGR Over the Forecast Period

The mobile ultrasound devices segment of the portable ultrasound devices market is expected to experience the fastest growth rate over the forecast period. Mobile ultrasound devices are gaining attraction in the developing regions, due to the rising demand for ambulatory care. Although developed countries, like the United States, have a well-established market for handheld ultrasound devices, there is also a rising demand for mobile ultrasound devices. Due to its efficacy in providing mobile care, the segment is expected to grow rapidly over the forecast period.

North America Dominates the Market and Expected to Follow the Same Trend Over the Forecast Period

North America currently dominates the portable ultrasound devices market and is expected to continue its stronghold for a few more years. This can be majorly attributed due to advanced health infrastructure, increasing prevalence of diseases and infections, growing emphasis on the development of innovative products, and rising number of regional companies manufacturing portable ultrasound devices.

Asia Pacific region is also expected to grow at the high CAGR on account of improving health care infrastructure, rising disposable incomes, public growing awareness levels.

Portable Ultrasound Devices Industry Overview

The portable ultrasound devices market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. With the rising need of mobile health and the advancements in ultrasonography, few smaller players are entering the market and holding a substantial share. Some of the major players of the market are Fukuda Denshi, Hitachi Ltd, Koninklijke Philips NV, Canon Medical Systems Corporation, and Siemens Healthineers, among others.

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