Primary care doctors use point-of-care ultrasound as a type of physical evaluation to clarify unclear results. It is used in a variety of clinical settings, including the emergency room, to look into any internal or external pathological findings, and in the intensive care unit to assess therapeutic conditions. Point-of-care ultrasound can evaluate physiological processes like hemodynamic evaluation, preload, cardiac function (LVF and RVF), afterload, and volume state.
The market for point-of-care ultrasound in 2021 was USD 3.01 billion, and by 2030 it will be worth USD 5.9 billion, growing at a 5.7% CAGR during the forecast period.
The market is stimulated by factors such as the rising prevalence of diseases worldwide, the rapid development of the medical infrastructure in established and developing economies, and the global increase in knowledge of diseases and their treatment.
Market Dynamics
Drivers
The substantial advancements in imaging system technology are one of the primary factors boosting the global market. Point-of-care imaging has undergone constant development, resulting in more accurate and precise imaging and other advantages like a broader range of applications and faster scanning times for more comfortable patient care. Furthermore, these devices’ increased use of artificial intelligence has enhanced their scanning skills.
The transition from inpatient to outpatient care is one of the key factors that will stimulate the growth of the point-of-care ultrasound market in the upcoming years. This shift from inpatient to outpatient services has been driven by factors including the development of novel treatment modalities, improvements in medical equipment technology, patient preferences, and actions taken by governments, healthcare systems, and hospitals. As a result, outpatient care facilities like urgent care facilities, retail clinics, and ambulatory surgery centers are being built and expanded at a higher rate.
Restraints
Major factors limiting the market’s development include high product costs, unfavorable reimbursement policies in developing and underdeveloped economies, strict regulatory policies, and a shortage of skilled professionals in emerging nations.
Opportunity
The market has numerous opportunities to expand during the forecast period due to technological improvements in procedures like echocardiography, pericardiocentesis, thoracentesis, tomography, vascular access, and arthrocentesis. Furthermore, the market will expand due to the rising demand for mobile point-of-care devices like venous catheterization and peripheral venous catheterization to improve operational efficiency and patient health. Additionally, market expansion opportunities are being driven by advertising campaigns launched by numerous groups to promote the use of point-of-care ultrasound systems and educate professionals from all specialties.
Market Segmentation
By Device Type
On the basis of device type, the market is segmented into diagnostic and therapeutic.
On the basis of device type, the diagnostic segment led the entire market in 2020 with 65% of the revenue share. It is due to the rising rate of chronic disorders globally. The use of diagnostic ultrasound does not involve any severe risk as it utilizes low-power soundwaves, and it is a cost-effective procedure compare to any other imaging technologies.
By portability
On the basis of portability, the market is segment into trolley-based devices and hand held devices.
In 2020, the handheld segment was the largest market contributor, with revenue of nearly USD 1 billion. Manufacturing companies have reduced the price of the device because of the increasing need by primary care physicians. These devices are ultra-portable and can be utilize in remote healthcare settings, hospitals, and ASCs for therapeutic and diagnostic processes.
By Application
On the basis of application, the point-of-care ultrasound market is segment into cardiology, emergency medicine, vascular surgery, musculoskeletal, gynecology & obstetrics, urology, and others.
In 2020, the emergency medicine segment held the largest market share. It is due to the increasing implementation of emergency diagnostic tools in emergency care centers.
By End-User
On the basis of end-user, the market is segment into clinics, hospitals, maternity centers, ASCs, and others.
In 2020, the hospital segment ruled the entire market with a revenue share of 50%. This is due to factors including the rise in point-of-care system demand and the growing number of emergency hospital visits for conditions ranging from mild to severe thoracic/abdominal trauma, abdominal pain, pleural effusion, and cardiac arrest.
Regional Analysis
In 2021, North America held the maximum position in the market, with a revenue share of nearly 33.5%. It is due to an increase in the prevalence of chronic illnesses, increased government funding for research. And development of ultrasound systems, technical advancements, well-established market players, and the growth of the healthcare system. According to the CDC, chronic disease is the leading source of death and disability in the United States, affecting almost 6 in 10 adults.
Key Players
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- E. Healthcare
- Koninklijke Philips N.V.
- Terason Corporation
- Healcerion
- Bard Access Systems Inc.
- Advanced Instrumentations
- FUJIFILM Sonosite, Inc.
- ALPINION MEDICAL SYSTEMS Co., Ltd.
- Hitachi Ltd.
- EDAN Instruments
- Teknova Medical Systems Co., Ltd.
- DRAMINSKI S. A.
- Butterfly Network, Inc.
- R.E. Medical
- Landwind Medical
- CHISON Medical Technologies
Presentation of creative innovation and the rising number of patient’s visits to ED with different medical conditions like intense stomach torment, urology issue, and chest torment is suppose to drive the market development over the figure period. As per the Medical care and Usage Venture report, 6.0 million ED visits were determine to have stomach torment in 2014, a 32.0% expansion from the number in 2006. PoCUS is a powerful ED diagnostics device in various pathologies that presents a stomach torment.
The various purposes of point of care ultrasounds however remedial as well as analytic gadget may be suppose to support. The interest for these gadgets in created as well as creating districts. Significant diagnostics utilization of PoCUS incorporates condition. Like undifferentiated shock, heart failure revival, stomach/thoracic injury, aspiratory embolism, pericardial emanation, dyspnea, and stomach torment.
Restorative uses of PoCUS incorporate administration of agony, aggravation, and muscle fit. This is one of the significant explanations for the rising use of PoCUS gadgets in crisis division. Expanding prevalence of these gadgets and presentation of reasonable items are a portion of the variables expect to support the interest for in-house use.
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