Point-of-Care Ultrasound Devices Market to Surpass $4,546.5 Million Revenue by 2030: P&S Intelligence

NEW YORK, Aug. 19, 2021 /PRNewswire/ -- The global point-of-care ultrasound devices market revenue is predicted to increase to $4,546.5 million by 2030 from $2,186.8 million in 2020, at a 7.9% CAGR between 2021 and 2030, according to the market research report published by P&S Intelligence.

The major growth drivers for the market include:

• Booming Geriatric Population: The number of people aged 65 and above on earth is set to grow from 727 million in 2020 to 1.5 billion by 2050, says the United Nations (UN). Since not all older people can visit a medical care facility every time, these devices can be brought to wherever the patients are, for diagnosis.
• Rising Prevalence of Chronic Diseases: The rising prevalence of chronic diseases is also driving the PoCUS devices market by propelling the demand for effective diagnosis and treatment. Ultrasound is not only used to detect the disease but also during treatment, such as ultrasound-guided surgeries. As per the World Health Organization (WHO), heart diseases kill 17.9 million and cancer kills 9.6 million people each year, thus driving the demand for ultrasound procedures.

The COVID-19 impact on the point-of-care ultrasound devices market has been negative due to the closure of manufacturing facilities. Moreover, almost all the healthcare resources were diverted to the fight against the pandemic, which is why most diagnostic imaging facilities were shut down, except for COVID patients.

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The diagnostic bifurcation held the larger share in the PoCUS devices market, on the basis of type, in the past. Such devices are being increasingly utilized for evaluating left ventricular systolic function and diagnosing severe mitral regurgitation, pericardial effusion, pleural effusion, pulmonary edema, and pneumothorax.

In the coming years, the portability segment of the point-of-care ultrasound devices market will be dominated by the trolley/cart-based bifurcation. These devices find widespread usage in hospitals as they can be easily taken from one place to another, such as between radiology departments and emergency rooms (ER).

Browse detailed report with COVID-19 impact analysis on Point-of-Care-Ultrasound Devices Market Research Report: By Type (Diagnostic, Therapeutic), Portability (Trolley/Cart-Based, Compact/Handheld), Application (Emergency Medicine, Cardiology, Obstetrics and Gynecology, Vascular and Urology, Musculoskeletal) - Global Industry Revenue Estimation and Demand Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/pocus-device-market

The highest CAGR in the PoCUS devices market, under the application segment, will likely be seen in the emergency medicine category. As shifting the patient from the ER to the ultrasound ward can result in loss of valuable time, portable ultrasound devices are being used at the bedside to obtain immediate clinical information, increase efficiency, improve patient safety, and decrease the risk of complications.

Europe has generated the highest revenue in the point-of-care ultrasound devices market till now because of the increasing chronic disease incidence, healthcare expenditure, and geriatric population and rapid technological advancements in radiology, as a whole. The UN says that the region's geriatric population will increase from 140.4 million in 2019 to 199.9 million by 2050, thus driving the volume of ultrasound procedures.

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The major players in the global point-of-care ultrasound devices market are Esaote S.p.A., Analogic Corporation, Mindray Bio-Medical Electronics Co. Ltd., General Electric Company, Fujifilm Holdings Corporation, Siemens AG, Samsung Electronics Co. Ltd., Canon Inc., Koninklijke Philips N.V., and Braun Melsungen AG.

Key Findings of Global Point-of-Care Ultrasound Devices Market Report

• Demand for therapeutic PoCUS devices to rise faster
• Growing geriatric population biggest reason behind market advance
• APAC most-lucrative region for PoCUS devices market investments
• PoCUS devices undergoing technological advancements
• Emergency medicine biggest application area of PoCUS devices
• Market fragment in nature due to presence of numerous manufacturers

Browse Other Related Reports

European Union PoCUS Device Market 

Ultrasound Device Market 

Portable Ultrasound Device Market 

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SOURCE P&S Intelligence