Point of care ultrasound market analysis

Point-of-care ultrasound is the term for the use of a portable ultrasound by medical professionals, particularly in remote locations, for diagnosis and treatment purposes. POCUS is helpful in a range of clinical settings and can be combined with a variety of medical tools, including an intensive care unit (I.C.U.) to monitor clinical conditions during an emergency to look into internal or external pathological findings, and with physiological monitoring, like hemodynamic assessment, cardiac function, and volume status.

The market worth of the point of care ultrasound market in 2021 was USD 3.01 billion and will reach USD 5.9 billion by 2030 at a 5.7%% CAGR.

The demand for point of care ultrasounds is anticipated to increase in both developed and developing countries due to its various therapeutic and diagnostic applications. Undifferentiated shock, cardiac arrest resuscitation, abdominal/thoracic trauma, pulmonary embolism, pericardial effusion, dyspnea, and abdominal pain are a few conditions when PoCUS is primarily used for diagnostic purposes.

PoCUS has therapeutic uses for the control of pain, inflammation, and muscle spasm. This is one of the main causes for the rising use of PoCUS equipment in emergency rooms. The demand for in-house use is anticipated to increase due to a number of factors, including the growing popularity of these gadgets and the release of more cheap goods.

To provide comprehensive patient care, major companies in this market are concentrating on developing cutting-edge technologies that are quick, precise, and integrated with AI and analytic software systems. Healcerion’s Sonon 300L portable PoCUS was given FDA approval in July 2018. The ultrasound technology provided by the device is adaptable and costs only a tenth of what a regular ultrasound machine would cost. It comes with a handheld probe-like element that can wirelessly interface with an app you download from the app store on your device.

Market Dynamics

Point-of-care ultrasonography has the potential to reduce annual healthcare expenses by billions of dollars. Better patient outcomes, fewer fatalities, and fewer medical risk situations are some benefits of using POCUS over conventional medical systems. Furthermore, ultrasonography offers medical personnel the best alternatives, including real-time information updates, to treat injured people even in emergency and out-of-area care facilities.

The market is accelerating due to the rising chronic diseases and demand for point-of-care in emergency departments. The market for P.O.C. ultrasound equipment would grow due to growing health spending in China and Japan. The development of the business is also aided by technical advancements and the ongoing demand for mobile point-of-care ultrasound equipment to improve patient outcomes and operational effectiveness. P.O.C. ultrasound equipment is being promoted, and professionals from various disciplines are being educated by numerous organizations, like the Society of Point-of-Care Ultrasound, which will accelerate business growth.

POCUS device demand will increase along with the number of patients needing emergency care for various medical conditions, including acute abdominal pain, urological problems, and severe chest discomfort. Since POCUS can identify a wide range of illnesses that cause stomach discomfort, it is helpful in cases of abdominal pain. Additionally, it can expedite medical procedures, improve the effectiveness of patient care, lessen issues, and save time.

Restraining Factors

Inconsistent reimbursement practices are hampering market expansion. The utilization of point of care ultrasound is restricted since many hospitals and clinics in this industry reject claims, especially for pricey treatments. Additionally, medical bills are subject to a variety of degrees of scrutiny, need time-consuming paperwork, and if they are inaccurate, the claim settlement process may be prolonged. However, government programs to improve healthcare facilities and give people access to effective treatment methods will assist manufacturers in overcoming this barrier.

Market Segmentation

On the basis of device type, the point of care ultrasound market is segmented into diagnostic and therapeutic. 

In 2021, the diagnostic market segment was the market leader, with revenue of more than USD 2 billion. Due to its speedy disease diagnosis and cost-effective benefits, ultrasound imaging will see an increase in demand as the prevalence of chronic diseases rises. The lower hazards provided by diagnostic ultrasound due to its low-power sound waves will have an even greater impact on segment expansion.

On the basis of portability, the market is segmented into trolley-based devices and handheld devices.

The handheld devices market segment contributed the largest share of more than 34.5% in 2021 due to improvements in picture quality and transducer sensitivity. Handheld POCUS devices are in high demand, particularly during diagnostic procedures. Operating rooms and intensive care units frequently use handheld point-of-care ultrasound devices because they are lightweight and convenient.

On the basis of application, the market for point of care ultrasound is segmented into cardiology, urology, emergency medicine, vascular surgery, gynecology & obstetrics, musculoskeletal, and others.

By 2030, the vascular surgery application segment will grow at a rate of 7.5% CAGR. Product acceptance is being boosted by an increase in conditions related to lymphatic circulation, the vascular system, veins, and arteries. Continuous improvement in vascular P.O.C. ultrasound systems is also expected to drive segment growth.

On the basis of end-User, the market for point of care ultrasound is segmented into clinics, hospitals, maternity centers, A.S.C.s, and others.

In 2021, the maternity centers segment recorded the largest share and reached USD 585 million. Segment development is aided by the considerable emphasis on routine ultrasonography throughout the pregnancy. Additionally, the demand for point-of-care ultrasonography in maternity hospitals is growing as a result of increased birth rates in industrialized and developing countries. These facilities provide more specialized and superior patient care, decreased infection risk, and higher patient outcomes, encouraging regular checkups and increasing segment revenues.

Regional Analysis

From 2022 to 2030, the Asia Pacific point of care ultrasound market will grow at a 7.5% CAGR. Due to the high prevalence of infections and chronic diseases in highly populous nations like China and India, the area will emerge as a significant center for this business. The huge increase in awareness of therapeutic and diagnostic POCUS systems and rising healthcare spending will support APAC market trends.

Key Players

  • FUJIFILM Sonosite, Inc.
  • Koninklijke Philips N.V.
  • CHISON Medical Technologies 
  • G.E. Healthcare
  • Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
  • Hitachi Ltd.
  • Terason Corporation
  • Healcerion
  • ALPINION MEDICAL SYSTEMS Co., Ltd. 
  • EDAN Instruments
  • Butterfly Network, Inc.
  • Bard Access Systems Inc. 
  • Teknova Medical Systems Co., Ltd.
  • DRAMINSKI S. A.
  • Advanced Instrumentations
  • D.R.E. Medical
  • Landwind Medical