August 29th, 2022
The growing geriatric population and increasing healthcare expenditure are the key drivers for this sector. The global demand for ultrasound devices is also driven by the rising incidents of chronic diseases and improving healthcare infrastructure in developing nations. Additionally, the industry growth is also aided by the stringent norms regarding the quality of medical devices.
The portable ultrasound device market has four segments: type, end user, application, and region. By type, the market is bifurcated into mobile and hand-held ultrasound devices, of which the hand-held bifurcation will witness a growth of 13.1% during the forecast period. This because handheld systems allow for easy mobility, thus enabling point-of-care ultrasound (PoCUS) applications. Based on end user, the industry generates the demand from diagnostic centers, hospitals, and several other places. Under the application segment, the market is categorized into obstetrics and gynecology, gastric, musculoskeletal, cardiovascular, and others.
Europe has generated the maximum revenue for the portable ultrasound device market players. This region is expected to retain its dominance on the market during the forecast period, driven by an increase in the healthcare expenditure, growth in the prevalence of chronic diseases, and boom in the geriatric population. It is additionally the developed healthcare infrastructure of the European countries that is contributing significantly to the growth of the regional market.
As for other geographical regions, North America is also witnessing expansion in the portable ultrasound device market. As in Europe, the driving forces here are the rising prevalence of chronic diseases, growing population of the elderly, and improving healthcare system. The other region that has shown potential for growth is the Asia-Pacific (APAC) region. APAC will witness the highest growth rate during the forecast period due to the increasing cases of chronic ailments and a growing geriatric population. The improving healthcare system and increasing government expenditure will also drive the sale of portable ultrasound devices in APAC countries.
Thus, the rising cases of chronic ailments and escalating demand for a better healthcare system will drive the market toward success.
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