Portable Ultrasound Market to Surpass $3.8 Billion by 2031, Meticulous Research® Reports

[Redding, California] – In its latest publication, Meticulous Research® unveils projections indicating that the global Portable Ultrasound Market is poised to achieve a valuation of $3.8 billion by 2031, showcasing a robust CAGR of 7.9% during the forecast period spanning 2024 to 2031. The study attributes this growth to several factors, including the escalating adoption of portable medical devices within emergency care contexts, the proliferation of hospitals worldwide, and the escalating demand for handheld ultrasound devices within ambulatory care centers and dialysis facilities.

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The preference for portable ultrasound devices over conventional ultrasound machinery among healthcare professionals, coupled with the burgeoning demand from emerging economies, is anticipated to unlock promising avenues for market players. However, challenges such as the scarcity of skilled professionals, inadequate training initiatives for healthcare personnel regarding the use of portable ultrasound devices, reimbursement inconsistencies, suboptimal image quality, and integration complexities with existing digital health infrastructure, present hurdles to market expansion.

Key Market Players

The key contenders in the global Portable Ultrasound Market landscape comprise:

• GE Healthcare Technologies Inc. (U.S.)
• Siemens Healthineers AG (Germany)
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
• Koninklijke Philips N.V. (Netherlands)
• Samsung Medison Co. Ltd. (A subsidiary of Samsung Electronics Co. Ltd.) (South Korea)
• FUJIFILM Sonosite, Inc. (A subsidiary of FUJIFILM Holdings Corporation) (U.S.)
• ALPINION MEDICAL SYSTEMS Co., Ltd. (South Korea)
• Esaote S.p.A (Italy)
• EDAN Instruments, Inc. (China)
• EchoNous, Inc. (U.S.)
• Butterfly Network, Inc. (U.S.)
• Konica Minolta, Inc. (Japan)
• CHISON Medical Technologies Co., Ltd (China)
• SonoScape Medical Corp. (China)
• Healcerion Co., Ltd. (South Korea)

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Future Outlook of the Portable Ultrasound Market

The global Portable Ultrasound Market is segmented by product, application, end-user, and geography, offering a comprehensive view of industry dynamics. The study evaluates competitors within the sector and conducts a thorough analysis at regional and national levels.

Product Segmentation

The market categorizes products into devices, gels, and accessories. In 2024, the devices segment is anticipated to dominate the market landscape, fueled by burgeoning demand for Point-of-Care Ultrasound (PoCUS) in emergency departments, a growing inclination towards ultrasound imaging in close proximity to patients, rising incidences of chronic diseases, and technological advancements in portable ultrasound devices.

Within the devices segment, point-of-care (PoC) ultrasound and handheld ultrasound emerge as pivotal sub-segments. The handheld ultrasound segment is poised to exhibit a superior CAGR during the forecast period, attributed to the advent of tailored handheld ultrasound devices for specific applications, integration of Artificial Intelligence (AI) and machine learning, alongside other technological advancements.

Application Insights

The market application spectrum encompasses OB/GYN, cardiovascular, urology, musculoskeletal, breast cancer, and other applications. In 2024, the OB/GYN segment is anticipated to command the largest market share, driven by escalating prevalence of women's reproductive health-related conditions, a global downturn in infertility rates, and heightened awareness surrounding early diagnosis and monitoring of Polycystic Ovarian Syndrome (PCOS) and Polycystic Ovarian Disease (PCOD).

End-User Analysis

End-user segments include hospitals & clinics, diagnostic imaging centers, ambulatory care centers, and other end-users. By 2024, hospitals & clinics are projected to emerge as the frontrunners in the portable ultrasound market, propelled by increased hospitalizations associated with chronic ailments among aging populations, amplified healthcare expenditures, adoption of advanced imaging modalities, and a growing focus on delivering cost-effective, bedside services to patients.

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Geographical Overview

The report conducts a comprehensive analysis of major geographies, encompassing North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Notably, China is forecasted to register the highest CAGR during the period of 2024 to 2031. This growth trajectory is underpinned by factors such as the upsurge in orthopedic injuries and cancer incidence rates, demographic aging, governmental initiatives promoting early disease detection, widespread adoption of cutting-edge medical technologies, ongoing enhancements in healthcare infrastructure, and escalated healthcare expenditures.

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