Fact.MR – A Market Research and Competitive Intelligence Provider: As per a report published by Fact.MR, the global wireless handheld ultrasound devices market is poised to total US$ 666 million by the end of 2021.
Wireless Handheld Ultrasound Devices 4.4X Increased Demand through 2031
The latest study conducted by Fact.MR provides in-depth insights into factors driving the wireless handheld ultrasound devices market. It offers refined demand outlook for key segments in terms of max ultrasound depth, number of modes, display type, battery capacity, OS compatibility, end user, sales channel. The study also shed light on critical trends elevating growth prospects for the wireless handheld ultrasound devices market for the next ten years
Fact.MR – A Market Research and Competitive Intelligence Provider: As per a report published by Fact.MR, the global wireless handheld ultrasound devices market is poised to total US$ 666 million by the end of 2021. Due to their compact design, physicians and clinicians from various fields often prefer carrying wireless handheld ultrasound devices to offer patients point of care healthcare services. Driven by this, the market is expected to reach US$ 2.9 billion by 2031.
The market registered growth at a CAGR of 14.5% between 2016 and 2020. With the increasing number of emergency patients, primary care providers are increasingly adding handheld ultrasound devices in their tool cases.
Wireless handheld ultrasound devices are designed to facilitate prompt examination of patients for quick primary treatment. Steered by this, the market is projected to grow at a staggering CAGR of 16% over the forthcoming decade.
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Rate of pregnancies has significantly increased across the world over the past decade. According to a study by the Centers for Diseases Control and Prevention, around 3,747,540 births were reported in 2019. Ultrasound devices plays a vital role in assessing the development of the baby in a mother’s womb. This rise in number of pregnancies is expected to spur the sales of wireless handheld ultrasound devices by 4.4X through 2031.
Based on operating systems (OS) compatibility, wireless handheld ultrasound devices with multiple operating systems compatibility such as Android and iOS are anticipated to account for 3/4th of the overall sales by 2031.
“Key companies are emphasizing on launching novel multipurpose interoperable devices, integrated with novel technologies such as artificial intelligence (AI) to address the increasing demand for enhanced functionality in ultrasound handheld devices,” says a Fact.MR analyst.
Key Takeaways from the Wireless Handheld Ultrasound Devices Market Study
- The U.S. is forecast to continue dominating the market in North America, registering growth at an impressive CAGR of 16% during the forecast period.
- China, being the highest populated country in the world with a high rate of pregnancy, is expected to exhibit sales growth at a massive CAGR of 18% through 2031.
- South Korea and Japan are anticipated to collectively account for around 28% of the demand reported in the East Asia market by the end of 2031.
- Based on number of modes, more than 2 mode wireless handheld ultrasound devices are leading the segment, accounting for over 52% of the overall sales in 2021.
- In terms of max ultrasound depth, devices with less than 10 cm have emerged at the most remunerative segment, accounting for more than 40% of the total revenue share.
- The wireless handheld ultrasound devices market is projected to hold an absolute dollar ($) opportunity of nearly US$ 2.2 billion from 2021 to 2031.
Key Drivers
- Surging demand for point of care diagnostics devices due to the increasing incidence of road accidents, common targeted diseases, and tumors across the world is propelling the demand for wireless handheld ultrasound devices.
- Increasing adoption of multiple operating systems (OS) compatibility across various medical domains such as radiology endocrinology, cardiology, and gynecology among others are driving the multiple OS wireless handheld ultrasound devices segment growth.
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Competitive Landscape
As per Fact.MR, Tier 1 manufacturers in the wireless handheld ultrasound devices market such as Hologic, Siemens Healthineers AG, and Lepu Medical Technology are estimated to account for 46% market share in 2021.
Leading players in the market are focusing on launching novel products to expand their portfolio and strengthen their global footprint. For instance,
- In May 2021, Clarius Mobile Health Corp., a company based in the Canada, announced launching a new multipurpose wireless ultrasound device C3 HD. The product uses AI and machine learning to recognize the anatomy on a micro level and different structures in the human torso.
- In October 2019, Siemens Heathineers, a healthcare company based in Germany, announced the introduction of a new Acuson Redwood wireless handheld ultrasound device. The device is focused for the cardiology and obstetrics applications.
Some of the key players in the market profiled by Fact.MR are:
- Siemens Healthcare GmbH (Siemens Healthineers)
- Meditech Equipment Co., Ltd
- Hologic Inc.
- Beijing Konted Medical Technology Co., Ltd
- Run’Kun Pharmaceutical Co., Ltd.
- BMV Technology Co. Ltd.
- Shenzhen Viatom Technology Co., Ltd. (Lepu Medical Technology Co., Ltd.)
- ASUSTeK Computer Inc.
- Clarius Mobile Health Corp.
- GE Healthcare
- Healcerion Co., Ltd.
- WuHan Youkey Bio-Medical Electronics Co., Ltd.
- Shenzhen Prunus Medical
- SIFSOF LLC
- Vave Health, Inc.
- LeSONO (LelTek Inc.)
- SonoQue (O2 Lifecare Inc.)
- Hung-Kee (China) Electronic
- Dott Medical Co. Ltd.
More Valuable Insights on Wireless Handheld Ultrasound Devices Market
Fact.MR, in its new report, offers an unbiased analysis of the global wireless handheld ultrasound devices market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in wireless handheld ultrasound devices market with detailed segmentation:
- By Max Ultrasound Depth
- < 10 cm Wireless Handheld Ultrasound Devices
- 10 - 20 cm Wireless Handheld Ultrasound Devices
- >20 cm Wireless Handheld Ultrasound Devices
- By No. of Modes
- 2 or Less Mode Wireless Handheld Ultrasound Devices
- More than 2 Mode Wireless Handheld Ultrasound Devices
- By Display Type
- Color Wireless Handheld Ultrasound Devices
- Black and White Wireless Handheld Ultrasound Devices
- By Battery Capacity
- Up to 3 Hour Capacity Wireless Handheld Ultrasound Devices
- More than 3 Hour Capacity Wireless Handheld Ultrasound Devices
- By OS Compatibility
- Single OS Wireless Handheld Ultrasound Devices
- Multiple OS Wireless Handheld Ultrasound Devices
- By End User
- Multispecialty Hospitals
- Specialty Hospitals & Clinics
- Maternity Hospitals & Clinics
- Cardiac Hospitals & Clinics
- Other Specialty Hospitals & Clinics
- By Sales Channel
- Direct Sales of Wireless Handheld Ultrasound Devices
- Retail Sales of Wireless Handheld Ultrasound Devices
- Medical Device Stores
- Drug Stores
- Online Retail
- Company Website
- Third-party Online
- Other Sales Channels
Key Questions Covered in the Wireless Handheld Ultrasound Devices Market Report
- The market survey also highlights projected sales growth of the wireless handheld ultrasound devices market between 2021 and 2031
- The report offers insight into wireless handheld ultrasound devices demand outlook for 2021-2031
- Wireless handheld ultrasound devices market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
- Wireless handheld ultrasound devices market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
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