Point-of-Care Ultrasound Device Market Analysis and Forecast to 2025
The global point of care (PoCUS) device market is expected to grow at a CAGR of 6.9% during 2015 - 2025. The growth of the global market is largely driven by increasing awareness about the benefits of portable ultrasound devices in point-of-care. Several beneficial features such as size, weight, performance and battery life of portable ultrasound devices are increasing their popularity among healthcare providers. Healthcare providers and patients are getting aware about these benefits of portable ultrasound devices in point-of-care. This has created huge traction in the diagnostic imaging industry for developing portable ultrasound devices for point-of-care. Different companies are investing huge capital for miniaturization of ultrasound devices for their efficient use in point-of-care. Some of the other factors driving the growth of the global market include prevalence of chronic diseases, and technological advancements. Increasing penetration of PoCUS device manufacturers in emerging economies is expected to create ample growth opportunities for the global market. However, lack of skilled sonographers and stringent regulatory requirements are the key barriers for the growth of the global market.
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Among the two types of PoCUS devices, the diagnostic PoCUS device segment was the larger contributor to the global PoCUS devices revenue in 2015; whereas, therapeutic PoCUS device is expected to witness the higher growth during the forecast period. Increasing adoption of therapeutic PoCUS devise for the treatment of musculoskeletal disorders is the major factor driving the growth of therapeutic PoCUS device market. Therapeutic PoCUS devices helps to relief pain and inflammation, reduce muscle spasm, speed healing and increases range of motion.
Europe accounted for the largest share in the global market in 2015 due to the technological advancements and high compliance for portable ultrasound devices in point-of-care. The U.S., Japan and Germany were the top three market for PoCUS devices in 2015. The U.S. contributed largest revenue to global PoCUS device market. The country is expected to remain the largest market for PoCUS devices globally during the forecast period. The huge capital investments along with the significant development for portable ultrasound devices in point-of-care are the key driving factors of the U.S. PoCUS device market.
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Some of the players operating in the global market include Hitachi Ltd., Toshiba Medical Systems Corporation, Siemens AG, Koninklijke Philips N.V., Esaote SpA, General Electric Company, Samsung, Mindray Medical International Limited, FUJIFILM Holdings Corporation, and Analogic Corporation.
