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Point of Care Ultrasound Market 2020 By Revenue, Top Trend & Regional Growth Forecast

Author : Ronak Bora | Published Date : 2020-09-15 

Point of Care Ultrasound Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

An upsurge in the geriatric population worldwide has brought about a significant momentum in point of care ultrasound market over the recent years. According to WHO estimates, there were nearly more than 900 million people aged 60 or above in 2015, and the count is expected to reach to 2 billion by the end of 2050. This factor is expected to escalate the demand for portable devices that can be used at patient’s bedside for therapeutic and diagnostic purposes. Some of the pivotal parameters aiding the growth of this industry are mounting deployment of POC ultrasound in emergency departments and technological developments associated with these devices.

POC ultrasound is deemed to be a useful device for trauma patients. The product’s versatility and affordability aspects have made it highly attractive across the medical and healthcare sectors, thereby augmenting point of care ultrasound market growth.

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Challenged by the burgeoning demand for these tools, industry majors operating in point of care ultrasound business space are relentlessly making striving efforts to bring forth novel innovations in the product line while being engaged in mergers, acquisitions, collaborations, facility expansion, and other market statistics, which will enable them to score an edge over other market rivals.

Say for instance, Fujifilm Sonosite recently launched its new Sonosite PX ultrasound system. Reports state that the newly developed system stands as the next generation in Sonosite POCUS (point of care ultrasound), with advanced image clarity seen in a Sonosite system, an adaptable form factor, and a suite of workflow efficiency features.

Such initiatives are expected to bring about a wave of transformation in the overall point of care ultrasound market space, which according to estimates is poised to surpass a mammoth of USD 3 billion over 2019-2025, in terms of revenue. The phenomenal growth in market can also be attributed to the trends mentioned below:

Given that ultrasounds are majorly popular for monitoring the development of fetus inside a woman’s womb, it is not a hidden fact that escalating birth rates would offer an impetus to the industry growth in the years to come. UNICEF report cites that over 130 million babies are born every year, a count which exploits the need for ultrasound devices, in turn impelling the POC ultrasound market expansion.

Point of care ultrasound provides easy access to diagnose anomalies in baby’s position inside the womb while also detecting the fetal heart rate. Such advantages have rendered a positive impact on overall industry growth, which is also driven by elevating innovations for better patient care.

In this aspect, it is prudent to note that point of care ultrasound market from maternity centers segment is expected to observe appreciable gains in the years to follow. This growth predominantly comes from increasing birth rate and expediting demand for POCUS to deliver accurate and easy health information. For the records, maternity centers segment acquired a business share of more than USD 340 million in 2018 and is likely to grow at an unprecedented pace over the forecast time frame.

Therapeutic devices have received much acclamation across the point of care ultrasound market owing to their use in homecare settings and their ability to provide real time data to patient being operated at home. Estimates claim that the segment accounted for a revenue share of 30 per cent in 2018, which is only estimated to increase significantly over the due course of time. An important point to note here is that use of therapeutic devices during cosmetic surgeries and non-invasive techniques will favor the segmental growth.

Amidst the intense share battle, North America is touted to stand tall in the regional hierarchy of point of care ultrasound industry in the coming years, while depicting an overall CAGR of 4 per cent through 2025. The growth can aptly be attributed to the rising prevalence of chronic diseases in the continent aligned with growing cognizance amongst people for early detection. Adding to these, surging technological advancements in point of care ultrasound devices are also likely to uplift the regional market size in the near future. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/point-of-care-ultrasound-market

Partial Chapter of the Table of Content 

Chapter 4. Point of Care Ultrasound Market, By Type

4.1. Key segment trends

4.2. Diagnostic devices

4.2.1.  Market size, by region, 2014-2025

4.3. Therapeutic devices

4.3.1.  Market size, by region, 2014-2025

Chapter 5. Point of Care Ultrasound Market, By Portability

5.1. Key segment trends

5.2. Trolley based devices

5.2.1.  Market size, by region, 2014-2025

5.3. Handheld devices

5.3.1.  Market size, by region, 2014-2025

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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