The global handheld ultrasound devices market size was USD 2.03 billion in 2022 and is expected to register a revenue CAGR of 12.09% over the forecast period.
Report Scope of the Handheld Ultrasound Devices Market:
|The market size value in 2021||USD 2.03 billion|
|CAGR (2021 - 2030)||12.09%|
|The Revenue forecast in 2030||USD 6.36 billion|
|The Revenue forecast in 2030||2022|
|The Revenue forecast in 2030||2023-2032|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
Rising prevalence of chronic diseases in aging population, such as cancer, endocrine, gastrointestinal, neurological disorders, and heart diseases along with emerging trends of diagnostic imaging in medical device ecosystem are major factors driving market revenue growth. Chronic diseases are considered as most prevalent and costly treatment in some region and it can lead to serious circumstances such as hospitalization, long-term illness, and death. According to World Health Organization (WHO), every year over 15 million people between the ages of 30 and 69 years die because of chronic diseases. In addition, rise in number of patients suffering from pulmonary artery related disorders is also driving revenue growth of the market over the forecast period.
Handheld ultrasound devices are smaller than cart-based ultrasound devices and hence, move conveniently from one place to another during complex medical procedures such as abdominal and heart surgeries. These devices enable imaging in Point-of-Care (PoC) settings for patients suffering from traumatic injury or abdominal pain caused by gallbladder blockage or gallstone. Diagnostic imaging test is generating significant demand by rapid adoption of handheld ultrasound to evaluate immediate results without compromising accuracy. In addition, diagnostic imaging creates instant visual representations of a body’s interior using radiographs, ultrasound, and fluoroscopy. These visual representations are aiding support in various chronic diseases by delivering accurate diagnostic imaging results. Several leading market players are participating to leverage technological advancement in diagnostic imaging. For instance, Samsung Medison has collaborated with Intel corporation to process better a real-time nerve imaging to detect anesthesia quickly and accurately.
Moreover, recent technological advancements in ultrasound image systems, such as commercial implementation of neural network and deep learning algorithm for ultrasound scanning, detection of diseases, and ultrasound image classification, are notable because of large number of market players such as GE Healthcare, Siemens Healthineers are working on effectiveness of diagnostic imaging interpretation in various 2D, 3D, and 4D format. Furthermore, growth prospect of handheld ultrasound is on introduction stage, hence more applications of handheld ultrasound are yet to discover as number of clinical trials and approvals are progressing.
Competitive landscape of the handheld ultrasound devices market is moderately fragmented with a few key players operating on global and regional levels. Key players are engaged in strategic alliances to expand their respective portfolio and gain a robust footing in the global market. Some of the major companies included in the global market report are General Electric, Siemens Healthineers AG, Koninklijke Philips N.V., FUJIFILM Sonosite, Inc., CHISON Medical Technologies Co., SONOSCOPE Inc., Healcerion Co., Ltd., Clarius Mobile Health, Spacelabs Healthcare, and Avante Health Solutions
Handheld Ultrasound Devices Market Segmentations:
|Device Type Outlook||Application Outlook||End-use Channel Outlook||Regional Outlook|
Hospital and Clinic
Middle East & Africa