The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Point Of Care Ultrasound Global Market Report 2024, the point of care ultrasound market is expected to show promising growth in the forecast period.

The point-of-care ultrasound (POCUS) market has seen significant growth in recent years and is poised for continued expansion. This article explores the factors driving this growth, major industry trends, and key players in the market.

Market Growth Overview

• Recent Market Size: In 2023, the POCUS market was valued at $3.93 billion.
• Projected Growth: By 2024, the market is expected to reach $4.25 billion, with a CAGR of 8.0%.
• Future Projections: The market is projected to grow to $5.7 billion by 2028, at a CAGR of 7.6%.

Key Drivers of Recent Growth

• Rise in Point-of-Care Testing: Increasing demand for rapid diagnostics at the bedside.
• Increased Clinical Utility: Broader applications in various medical fields.
• Compact and Portable Devices: Enhanced mobility and ease of use.
• Training and Education Programs: Greater awareness and proficiency among healthcare providers.
• Cost-Effectiveness: Lower costs compared to traditional imaging techniques.

Future Growth Factors

• Integration with AI: Enhanced diagnostic capabilities through artificial intelligence.
• Expanding Applications: Increasing use in primary care and global health initiatives.
• Remote and Rural Healthcare: Improved access to healthcare in underserved areas.
• Customization and Specialized Probes: Tailored solutions for specific medical needs.

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Technological Trends Shaping the Market

• Technological Advancements: Continuous innovation in ultrasound technology.
• Miniaturization and Portability: Smaller, more portable devices making POCUS more accessible.
• Wireless Connectivity and Cloud Integration: Improved data sharing and storage capabilities.
• Expanding Applications Beyond Radiology: Growing use in diverse medical fields.
• Remote Healthcare Access: Enhanced capabilities for remote diagnostics and treatment.

Impact of Rising Chronic Diseases

• Chronic Disease Prevalence: Rising chronic diseases like cardiovascular diseases, cancer, and diabetes drive POCUS market growth.
• Early Detection and Personalized Treatment: POCUS aids in early diagnosis and customized treatment plans.
• Remote Monitoring: Facilitates monitoring of chronic conditions remotely, improving patient outcomes.

Key Industry Players

• Leading Companies: Major players include Samsung Electronics Co. Ltd., Hitachi Ltd., Siemens Healthineers GmbH, Fujifilm Holdings Corporation, and GE HealthCare Technologies Inc.
• Innovative Products: Companies are developing new products to maintain competitive advantage.

Innovative Products and Acquisitions

• GE Healthcare’s Venue Fit: Launched in March 2021, this compact ultrasound system enhances point-of-care diagnostics with an easy-to-clean touchscreen and advanced scanning tools.
• BK Medical Acquisition: In December 2021, GE HealthCare Technologies acquired BK Medical for $1.45 billion, expanding its ultrasound capabilities into surgical and therapeutic interventions.

Market Segmentation

• By Type: Diagnostic Devices, Therapeutic Devices
• By Portability: Trolley Based Devices, Handheld Devices
• By Application: Emergency Medicine, Cardiology, Obstetrics and Gynecology, Urology, Vascular Surgery, Musculoskeletal, Other Applications
• By End-User: Hospitals, Clinics, Maternity Centers, Ambulatory Surgical Centers (ASCs), Other End Users

Regional Insights

• North America: The largest market region in 2023.
• Asia-Pacific: Expected to be the fastest-growing region during the forecast period.

Conclusion
The point-of-care ultrasound market is on a robust growth trajectory, driven by technological advancements, rising chronic diseases, and increased adoption of portable and cost-effective devices. With major companies continually innovating and expanding their reach, the future looks promising for POCUS technology.

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