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The global point-of-care ultrasound market size was valued at USD 1.05 billion in 2022 and is projected to grow from USD 1.18 billion in 2023 to USD 3.00 billion by 2030, exhibiting a CAGR of 14.3% during the forecast period.
Point-of-care (POC) ultrasound plays an essential role in potential clinical applications such as accessing diagnostic imaging, and real-time imaging-guided interventions during surgical procedures, among others. The devices for point-of-care application aid in early bedside evaluation of primary treatment, and emergency screening among patients across specialty clinics, ambulatory surgical centers, and primary health centers.
In the current healthcare scenario, there is a greater transition towards outpatient care from inpatient care. This has resulted in stronger demand for the use of ultrasound devices at the point of care. Also, the demand for ultrasound devices for point-of-care applications has further escalated due to the need for emergency medicine, and intensive care, such as cardiology and obstetrics. Furthermore, the strong trend for cutting-edge R&D amongst prominent companies has encouraged the introduction of several technologically superior products.
This trend of introducing new and advanced products, coupled with the increasing need for superior medical imaging in outpatient care settings, is expected to strongly surge the growth of the global market in developed and emerging regions during the forecast period.
High Ultrasound Tests among COVID-19 Patients Augmented the Market Growth
The COVID-19 pandemic had disrupted healthcare accessibility for the global population due to travel restrictions and country lockdowns. However, after the outbreak of COVID-19, the market witnessed positive growth owing to an increase in diagnostic imaging tests among patients across the globe.
The shifting of COVID-19 patients out of the intensive care unit (ICU) setup increased the risk of infection transmission to healthcare workers and jeopardized patient safety across hospital settings. Hence, bedside diagnostic imaging emerged as a fundamental component of managing COVID-19 by minimizing the risk of contamination.
During the pandemic, the tests for lung ultrasounds increased to address various challenges of the COVID pandemic. These tests were used to diagnose co-morbid respiratory pathologies, assess the degree of lung pathology, and monitor pathological changes among COVID-19 patients.
Moreover, rising initiatives by leading industry players to launch innovative and accessible ultrasound devices to ensure diagnostic imaging in difficult environments such as COVID-19 and provide quality healthcare delivery across hospital settings augmented the market growth.
High adoption of point-of-care imaging tests among the patient population across several clinical conditions other than COVID-19, propelled the market growth in 2020.
Moreover, the use of hand-held devices increased in emergency units of hospitals due to their convenient handling and less sterilization requirement, further stabilizing the market growth in 2021. Similarly, a downturn in the number of COVID-19 patients, and a substantial increase in uptake of ultrasound tests among the general population at homecare settings further propelled the market growth at a substantial pace in 2021.
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Potential Advantages of Ultrasound Devices for Point-of-Care Applications
The demand for ultrasound devices is high owing to rising diagnostic tests and screening among patients across the globe. Moreover, ultrasound has been an effective imaging method for the diagnosis of several chronic diseases, such as vascular disorders, cardiovascular disorders, and sports injuries.
The conventional cart-based ultrasound equipment in routine diagnostic imaging produces detailed high-resolution images and has a varied application area across healthcare settings. However, certain limitations associated with conventional ultrasound systems such as the high cost of acquisition, and limited portability, are leading to an increasing preference for portable systems among health professionals. On the other hand, compact and hand-held devices are portable, safe, and economical to use, and provide immediate results for clinical decision-making. Moreover, the costs associated with hand-held devices are less than that of conventional ultrasound devices.
Moreover, the use of compact devices is increasing among healthcare professionals for diagnostic imaging at patient bedside in intensive care units, and diagnosis of trauma and respiratory disorders across emergency departments. The high adoption was attributed to the potential advantages of these devices, such as non-invasiveness, high sensitivity, and high speed of ultrasound interpretation across health centers.
This is also increasing the presence and adoption of ultrasound devices in point-of-care applications areas such as cardiology, and gastroenterology, across developed countries, boosting its global demand. Similarly, compact ultrasound devices potentially have a positive impact on medical education and patient care, attributed to its benefits such as portability, and ease of use. Therefore, the high advantages of portable ultrasound over traditional devices cater to its adoption across various settings, which augmented the market growth.
High Emphasis of Key Players on Ultrasound Device Launches to Cater its Adoption
The demand for ultrasound systems for point of care applications is rising across healthcare specialties owing to benefits such as portability, comparatively lower cost, and improved clinical efficiency of these systems. Moreover, owing to these advantages, the preference for compact ultrasound devices is rising among healthcare professionals such as anesthesiologists and orthopedists in hospital emergency rooms and intensive care units.
Thus, owing to high demand, the major key players are now focusing on the development of technologically advanced products across the globe. Moreover, the high emphasis of market players on the launch and expansion of ultrasound devices in point-of-care applications across developing countries increases the presence, and adoption of ultrasound devices, further augmenting market growth.
Also, several emerging players are focusing on R&D of technically advanced solutions and platforms for easy accessibility, and enhanced diagnostic tools for better results among patients. Thus, the integration of such developed platforms with devices for point of care applications further expands its accessibility across several indications, such as assessments of the heart and the lungs.
Limitations Associated with Portable Devices in Point of Care Applications to Hamper the Adoption
Certain limitations associated with using hand-held devices have been a point of concern related to the adoption of these devices. The currently available ultrasound devices, such as Lumify and Vscan Air, are designed for diagnosis of certain medical conditions such as cardiovascular disorders, and trauma among the patients. Thus, these devices cannot support all aspects of the patient's physical examination, including 3D and 4D imaging. Moreover, factors such as low sensitivity and specificity, and deferred image quality of compact devices may limit the diagnosis and clinical guidance of diseases among patients.
Another factor limiting the use of hand-held devices is the lack of experienced technicians. The expansion of the hand-held ultrasound market will increase the number of new users performing ultrasound scans through hand-held equipment, thereby resulting in poor imaging results and incorrect disease assessment. Also, the limited presence of training and certification courses by national and international organizations for the use of these devices is limiting their adoption among radiologists, further restricting the market.
Moreover, the lack of knowledge regarding hand-held devices in emerging countries such as China, and India, among others, also tends to limit their adoption. The above-mentioned limiting factors associated with using hand-held ultrasound devices and limited awareness regarding these devices tend to restrict their adoption, thereby limiting the market growth.
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Rising Demand for Hand-held Ultrasound Devices to Boost Segment Growth during 2023-2030
On the basis of product, the market is segmented into cart-based, and compact & hand-held segments. The cart/trolley based segment held a dominant market share in 2022. The dominance is due to the greater adoption of cart-based devices for point-of-care interventions such as emergency medicine, anesthesia, vascular access, and the increasing trend of market players focusing on introducing new and innovative systems for point-of-care applications.
The hand-held segment is anticipated to register a higher CAGR in the forecast period. This is primarily due to newer hand-held devices' launches by key players and high demand of hand-held devices across healthcare settings. Moreover, the diverse application areas of hand-held ultrasound equipment across several clinical conditions will drive the point-of-care ultrasound systems in developed countries from 2023-2030.
Increase in the Number of Patient Visits at Emergency Departments to Propel Hospital Segment Share
Based on end-user, the market is segmented into hospitals, clinics, and others.
The hospital segment is projected to account for the largest market share during the forecast period because of the strong demand for ultrasound imaging in hospitals' emergency care and intensive care units (ICUs). Also, the rising number of hospital admissions in ICU, trauma & emergency departments, owing to high global disease prevalence, is driving the demand for ultrasound systems in point-of-care applications, further propelling segment share.
The clinics segment accounted for a considerable share of the global market, and are expected to register a higher CAGR during the forecast timeframe, owing to the increasing number of clinics offering ultrasound tests and the rising adoption of ultrasound devices in specialty clinics to enhance patient care delivery across the globe.
North America Point-of-care Ultrasound Market Size, 2022 (USD billion)
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On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The market size in North America stood at USD 0.42 billion in 2022. North America dominated the market in 2022. The dominance is attributed to leading players engaged in the introduction of innovative and compact ultrasound devices in the market. Moreover, rising awareness and adoption of ultrasound devices by healthcare professionals for point-of-care applications, further augmented the North America market growth.
Europe is anticipated to be the second-largest market in the forecast period. The growth is attributed to factors such as rising number of patients undergoing diagnostic screening for several ailments, such as cardiovascular and respiratory diseases across the region. Moreover, increasing number of regional diagnostic centers, and hospitals offering point-of-care applications further propelled the regional market.
The Asia Pacific market is anticipated to register the highest CAGR in the forecast period due to increasing prevalence of chronic disorders across the region and rising potential patient population undergoing ultrasound tests across healthcare settings.
The emerging markets of Latin America, and the Middle East & Africa accounted for a comparatively lower market share but are expected to witness strong growth prospects in the forecast period due to the increasing number of outpatient healthcare centers offering diagnostic tests across the region. Moreover, the rising number of surgeries needing therapeutic interventions such as point-of-care across developing countries, further boosts the regional market growth.
Robust Portfolio of GE Healthcare and Koninklijke Philips N.V. to Support Market Dominance
The global market's competitive landscape reflects the dominance of certain key players, such as GE HealthCare, Siemens Healthineers, and Koninklijke Philips N.V., which have always been prominent players in medical imaging. The rising emphasis of key players on collaborations and acquisitions with other leading players to develop technologically advanced solutions further boosted the point-of-care ultrasound market growth.
These leading players are also engaged in various R&D initiatives for the launch of technologically advanced product offerings.
Some of the other key players exerting dominance on the global market include Shenzhen Mindray Bio-Medical Electronics Co., Ltd., and Hitachi Ltd., owing to their diversified and robust product portfolio for ultrasound systems in point-of-care applications. Furthermore, some of the global market's emerging companies are China-based, including, CHISON Medical Technologies Co., Ltd., and EDAN Instruments. These companies’ strategic executions such as high emphasis on technological advancements, and expansion of existing product portfolios are anticipated to aid their efforts to drive their market revenue share in the forecast period.
Moreover, other existing players such as FUJIFILM Sonosite, Inc., and TERASON DIVISION TERATECH CORPORATION with a robust focus on R&D initiatives with other organizations to support the market, further propelled the global point-of-care ultrasound market share.
An Infographic Representation of Point of Care Ultrasound Market
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The global market research report provides a detailed analysis of the market. It focuses on key aspects such as disease burden - cancer, the incidence of prostate cancer – by key region, disease burden – cardiovascular diseases, healthcare overview – selective countries, number of hospital admissions – key countries, aging population data, and key mergers, acquisitions & partnerships. Besides this, the report offers insights into the market trends and highlights vital industry dynamics. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the global market over recent years.
Revenue CAGR of 14.3% from 2023-2030
Value (USD billion), and Volume (Units)
By Product, By End User, and Region
By End user
Fortune Business Insights says that the global market size was USD 1.05 billion in 2022 and is projected to reach USD 3.00 billion by 2030.
In 2022, the North America market stood at USD 0.42 billion.
Growing at a CAGR of 14.3%, the market will exhibit steady growth in the forecast period (2023-2030).
Cart-based segment is expected to be the leading segment in this market during the forecast period.
Increasing demand for point-of-care imaging, increasing technological advancements in these product offerings, and new product launches are major factors driving the markets growth.
GE Healthcare and Koninklijke Philips N.V., are the major players in the global market.
North America dominated the market in 2022.
New product launches by key companies, increasing shift from inpatient to outpatient care, and a strong prevalence of chronic diseases necessitate effective imaging. These factors are expected to drive the adoption of products in the global market.
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