Portable Ultrasound Equipment Market: Rising Geriatric Population and New Product Launches to Drive the Market
Diagnostic ultrasound has been widely used for fetal and maternal health. Full size ultrasound machines have been in use for years. These are quite large and prohibitively expensive, which restricts their use in community settings. Advancement in technologies has helped in the development of compact, portable ultrasound technologies that enable health care providers to deploy this tool for fetal and maternal health in community settings and smaller clinics.
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Portable ultrasound devices are medical imaging devices that use ultrasound to visualize muscles, tendons, internal organs, and to diagnose a range of medical conditions. These devices were first introduced in the 1980s and over the years have progressively undergone changes in their features. Presently, these devices are lauded for being small, durable, and light weight.
These provide high resolution, high quality images at a cost significantly lower as compared to conventional ultrasound devices in critical care unit or emergency department. These devices also aid in better monitoring and faster interventions in acute events. In rural or remote areas where manpower and resources are limited, these devices have proved their value by improving the level of treatment by transferring images to central locations.
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The portable ultrasound equipment market is driven by early stage diagnosis of diseases. Early disease diagnosis has helped in the detection of cardiovascular diseases, gynecological disorders, and cancer. Early detection of these diseases enables physicians and clinicians to provide patients with quick treatment options, thereby reducing mortality rates. Portable ultrasound equipment are increasingly finding applications in vascular access, DVT surveillance, gallbladder visualization, abdominal assessments, and urinary bladder dysfunction.
Rising geriatric population and new product launches have also fueled the growth of the portable ultrasound equipment market. Demand for these devices has increased significantly due to growing adoption of minimally invasive procedures and increasing use of these equipment for antenatal and prenatal care for mothers who do not have access to large health care facilities.
The market is projected to grow in the next few years; however, stringent government regulations, cost associated with equipment, and lack of well trained and skilled personnel are the major restraints of the portable ultrasound equipment market. Expanding applications of ultrasound devices and growth in the emerging economies are some of the opportunities that could drive the market.
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The global portable ultrasound equipment market has been segmented based on product type, application, end-user, and region. In terms of product type, the market has been divided into hand-carried systems, hand-operated or handheld systems, and bedside systems. In terms of application, the market has been categorized into gynecology, radiology, cardiology, urology, ophthalmology, critical care medicine, musculoskeletal, emergency medicine, and anesthesiology. Based on end-user, the global portable ultrasound equipment market has been segmented into hospitals, clinics, ambulatory care centers, maternity centers, long-term care, home care, and others.
Geographically, the portable ultrasound equipment market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to account for the largest share of the market due to factors such as rising incidence of various diseases, government initiatives and support for technological advancements, and ease of reimbursement. Europe was the next lucrative market for portable ultrasound equipment.
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The global portable ultrasound equipment market in Asia Pacific is expected to be driven by improving health care infrastructure, rising disposable incomes, public growing awareness levels about the benefits of portable ultrasound procedures, increasing incidence of age related illnesses, and health care reforms initiated by governments in the region.
Key players in the global portable ultrasound equipment market are Clarius Mobile Health, Esaote SpA, FUJIFILM SonoSite, Inc., GE Healthcare, Hitachi Medical Systems, Koninklijke Philips B.V, Mindray Medical International Limited, Mobisante, Inc., Siemens Healthineers, Signostics, Inc., Teratech Corporation (Terason), Toshiba Medical Systems Corporation, and Verathon, Inc., among others.
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