Point of Care Ultrasound Market Growth Forecast: Exploring Trends and Opportunities for the Next Decade
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What Growth Opportunities are Expected to Drive the Point of Care Ultrasound Market’s CAGR Through 2034?
In recent years, the point of care ultrasound market has experienced significant growth. The market is projected to expand from $4.25 billion in 2024 to $4.58 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.8%. Factors such as the surge in point-of-care testing, enhanced clinical utility, the advent of compact and portable devices, training and education programs, and cost-effectiveness have contributed to its growth during the historic period.
The market size for point of care ultrasound is projected to experience a robust expansion in the coming years. Its growth is forecasted to reach $6.14 billion by 2029, with a compound annual growth rate (CAGR) of approximately 7.6%. This growth over the forecast period is due to factors such as its integration with artificial intelligence, its increasing utilization in primary care, global health initiatives, its application in remote and rural healthcare scenarios, as well as customization and the use of specialized probes. Key trends set to define the forecast period comprise technological advancements, a shift towards the miniaturization and portability of devices, integration with wireless connectivity and cloud-based platforms, broadening its applications beyond radiology, and enhancing access to healthcare facilities in remote and rural areas.
Which Major Market Drivers Are Expected to Boost the Point of Care Ultrasound Market’s Growth Potential?
The escalating incidence of long-term health conditions is forecasted to boost the point-of-care ultrasound market’s growth. Point-of-care ultrasound (POCUS) plays a crucial role in managing these lasting diseases which typically persist and tend to progress at a slow rate. POCUS provides the benefits of early detection, personalized care, and remote supervising, making it an essential tool in the management of these persistent illnesses, leading to an improved prognosis for patients. For example, the National Institutes of Health, a US government agency, stated in January 2023 that by 2035, an estimated 35.66% (range: 33.36–36.04) of adults aged 50 and older would likely have at least one chronic illness – a number that’s likely to increase to 47.81% (range: 46.09–49.71) by 2050. Hence, the increased prevalence of chronic illnesses is a significant catalyst for the point-of-care ultrasound market.
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What Are the Leading Industry Players Dominating the Point of Care Ultrasound Market?
Major companies operating in the point of care ultrasound market report are Samsung Electronics Co. Ltd., Hitachi Ltd., Siemens Healthineers GmbH, Fujifilm Holdings Corporation, Becton, Dickinson, and Company, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Toshiba Medical Systems Corporation, Fukuda Denshi Co. Ltd., FUJIFILM Sonosite Inc., Analogic Corporation, B. Braun SE, Esaote SPA, Bard Access Systems Inc., Zimmer MedizinSysteme GmbH, Chison Medical Imaging Co. Ltd., Butterfly Network Inc., Terason Division Teratech Corporation, Advanced Instrumentations, DRE Medical, ALPINION Medical Systems Co. Ltd., Shenzhen AnaSonic Bio-Medical Technology Co. Ltd., Healcerion Co. Ltd., Edan Instruments Inc., Shenzhen Landwind Industry Co. Ltd., Teknova Medical Systems Co. Ltd.
What Are the Latest Trends Leading to Disruption in the Point of Care Ultrasound Market?
Leading corporations in the point-of-care ultrasound market are concentrating on creating cutting-edge products, including ultrasound-on-chip technology, to improve imaging performance and promote innovation in medical diagnostics. By shrinking ultrasound components onto a single chip, it allows for more compact and portable ultrasound devices across various medical imaging fields. This breakthrough improves access to ultrasound diagnostics and has the potential to advance point-of-care and wearable healthcare devices. For example, in February 2024, Butterfly Network Inc., a US-based medical imaging device manufacturer, introduced the Butterfly iQ3. This latest version of its handheld point-of-care ultrasound (POCUS) system, employs P4.3 ultrasound-on-chip technology, with the fastest digital data transfer speed globally. The system is designed to offer better high-resolution imaging and portable ultrasound imaging with superior 3D capabilities, and it has twice the processing capacity of its predecessor, the Butterfly iQ+.
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Which Segments of the Point of Care Ultrasound Market Hold the Most Potential for Future Development?
The point of care ultrasound market covered in this report is segmented –
1) By Type: Diagnostic Devices, Therapeutic Devices
2) By Portability: Trolley Based Devices, Handheld Devices
3) By Application: Emergency Medicine, Cardiology, Obstetrics And Gynecology, Urology, Vascular Surgery, Musculoskeletal, Other Applications
4) By End-User: Hospitals, Clinics, Maternity Centers, Ambulatory Surgical Centers (ASCs), Other End Users
Subsegments:
1) By Diagnostic Devices: Portable Ultrasound Systems, Handheld Ultrasound Devices, Cart-Based Ultrasound Machines
2) By Therapeutic Devices: Ultrasound-Guided Injection Systems, Ultrasound Therapy Devices, Ablation Devices
Which Regions Are Significant to the Growth of the Point of Care Ultrasound Market?
North America was the largest region in the point of care ultrasound market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the point of care ultrasound market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Are the Core Features That Define the Point of Care Ultrasound Market?
Point-of-care ultrasound (POCUS) refers to using portable ultrasound devices at the bedside or in a clinical setting for immediate diagnostic and therapeutic purposes. This approach offers several advantages, including real-time assessment, immediate feedback, and the potential to expedite clinical decision-making.
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