Point-of-Care Ultrasound Market will cross $3,000 million by 2025
Asia Pacific point of care ultrasound market value exceeded USD 625 million in 2018 and is expected to boost exponentially over the forecast period. Growing need for point-of-care in emergency departments and rising prevalence of chronic diseases in this region will boost the regional growth. Increasing health expenditure in China and Japan will prove beneficial for POC ultrasound devices market growth. Moreover, increasing demand for point of care ultrasound in Japan coupled with technological advancements in POCUS is expected to foster business growth over the coming years.
North America point of care ultrasound market is estimated to witness lucrative CAGR of over 4% by 2025. Regional growth is attributed to growing prevalence of chronic diseases coupled with rising awareness among people for early diagnosis. Moreover, technological advancements in POCUS should upsurge the regional revenue size over the coming years.
Trolley based devices segment was valued more than 1.4 billion in 2018. The segment demand is attributed to rising usage of trolley based devices in emergency care settings as well as acute care settings. Rising necessity for trolley based devices in healthcare settings that will further boost the segmental growth.
Musculoskeletal segment of point of care ultrasound market accounted over 14% revenue share in 2018 and will show lucrative growth over the coming years. POCUS helps in providing corrective and accurate information for muscle tear and intramuscular hemorrhage. Additionally, it assists in pain management that is used in diagnosis of patients undergoing musculoskeletal symptoms. Above-mentioned factors foster segmental growth.
Maternity centers segment of point of care ultrasound market was valued more than USD 340 million in 2018. Increasing birth rates coupled with growing demand for POCUS to provide accurate and easy health information fosters segmental growth.
Therapeutic devices segment accounted over 30% revenue share in 2018 and will showcase significant CAGR by 2025. Moreover, therapeutic devices are extensively used in homecare settings as it provides real time data to the patient at home. POCUS devices are used in non-invasive techniques and use of therapeutic devices in cosmetic surgeries and other applications are factors that will favor segmental growth.
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Diagnostic devices segment of point of care ultrasound market was valued around USD 1.3 billion in 2018 and will witness lucrative market growth during the forecast timeframe. Diagnostic POC ultrasound devices are cost effective that uses ultrasound waves for disease detection such advantages enhance the segmental growth. Moreover, extensive usage of diagnostic devices in diagnosis of peripheral edema, dyspnea, joint or abdominal pain and detecting pregnancy can prove beneficial for segmental growth. In addition, these devices are affordable and portable such factors foster industry growth.
Handheld devices segment accounted for over 32% revenue share in 2018 and will witness significant CAGR by 2025. Advances in echocardiography coupled with miniaturization of ultrasound machines have led to the development of handheld devices. These devices are easy to access and provide better patient management. Thus, associated benefits along with rising demand for such devices will upsurge the segmental revenue size during the forecast timeline.
Cardiology segment of point of care ultrasound market will witness around 5.3% growth over the coming years. Availability of small, handheld and user-friendly devices has stimulated the adoption of cardiac POC ultrasound systems for efficient bedside cardiac monitoring. POCUS has become a common diagnostic tool in cardiac resuscitation. Benefits of cardiac POC in detecting anatomic causes such as cardiac tamponade, will increase its adoption during emergency cases, thus, driving segmental growth.
Prominent players operating in point of care ultrasound market include Analogic, Canon Medical Systems, Esaote, Fujifilm, B. Braun, GE Healthcare, Koninklijke Philips, Mindray Bio-Medical Electronics, Siemens Healthcare, Samsung Electronics and Toshiba.
Global Point of Care Ultrasound Market is set to achieve 5.6% CAGR up to 2025; according to a new research report by Global Market Insights, Inc. Increasing birth rates will boost the industry growth over forthcoming years. Substantial usage of POC ultrasound during pregnancy to detect free fluid and fetal heart rate accelerates the demand for POCUS. Point-of-care ultrasound provides easy access to detect anomalies in baby?s position inside womb. Such advantages render positive impact on industry growth. Furthermore, rising innovations for better patient care and outcomes is expected to encourage customer buying behavior for POCUS. However, irregular reimbursement policies may restrict the business growth over analysis timeframe.