Portable ultrasound devices market to grow at a CAGR of 7.33% by 2028

As per DelveInsight, the portable ultrasound devices market was valued at USD 1.84 billion in 2022 and is anticipated to reach USD 2.81 billion by 2028. The rising prevalence of chronic diseases like cancer and cardiovascular disorders, among others, the wide range of diagnostic uses for portable ultrasound devices, as well as the rise in technological advancements in product development, among others, are expected to have a positive impact on portable ultrasound devices market growth in the upcoming years. The leading portable ultrasound devices companies actively working in the market include GE HealthCare, FUJIFILM Sonosite, Inc, Samsung Healthcare, Koninklijke Philips N.V., Seimens Healthcare Private Limited, EchoNous, Shenzen Mindray Bio-Medical Electronics Co., Ltd., Healcerion Co., Ltd, Canon Medical Systems Corporation, FUKUDA DENSHI, Hitachi, Ltd., SonoScape Medical Corp., CHISON Medical Technologies Co., Ltd., Clarius, ESAOTE SPA, Toshiba Corporation, LOTTE ENERGY MATERIALS Co., Ltd, Butterfly Network, Inc., EDAN Instruments, Inc., Zimmer MedizinSysteme GmbH, and others.

DelveInsight’s “Portable ultrasound devices market insight, competitive landscape, and market forecast 2028” research report provides the current and forecasted portable ultrasound devices market size, share, and trends analysis for the next five years. Moreover, it highlights the ongoing innovations in the segment, major market drivers & barriers, key competitors, and emerging devices in the domain.

Portable ultrasound devices market: Overview
Portable ultrasound devices are compact, handheld, or laptop-sized medical imaging systems that utilize ultrasound technology for diagnostic purposes. These devices are designed to be lightweight, portable, and easy to use, allowing healthcare professionals to perform ultrasound examinations in various clinical settings, including hospitals, clinics, ambulances, and even remote or resource-limited areas.

Portable ultrasound devices consist of a handheld probe or transducer that emits high-frequency sound waves into the body. These sound waves bounce off internal structures and are then detected by the same probe, which converts them into electrical signals. The signals are processed by the device’s software and displayed in real time on a screen, creating images of the examined area.

To provide a better understanding of the market dynamics, DelveInsight’s “Portable Ultrasound Devices Market” report provides an in-depth assessment of the market by product types such as handheld ultrasound devices and mobile ultrasound devices, by application (Cardiovascular, Musculoskeletal, Gynecology, Urology, and others). As per the estimate, in the product type segment of the portable ultrasound devices market, handheld ultrasound devices are expected to amass significant revenue share in the upcoming years owing to various advantages associated with these devices. Handheld portable ultrasound devices provide an accurate diagnosis and in recent years various development activities have been registered in the handheld portable ultrasound devices domain.

Portable ultrasound devices market aalysis
One of the main factors propelling the growth of the portable ultrasound devices market is the increased prevalence of severe chronic diseases like cancer and cardiovascular, musculoskeletal, and urological problems among others. The prevalence of different cancer types such as breast cancer, lung cancer, blood cancer, and others is immensely growing and leading to an increase in demand for more accurate and easy-to-use diagnostic approaches. As per the World Health Organization (2022), worldwide around 2.26 million cases of breast, 2.21 million cases of lung, 1.93 million cases of colon and rectum, 1.41 million cases of prostate, and 1.09 million cases of stomach cancer were reported in 2020. Portable ultrasound devices make it a more efficient and reliable imaging tool for the diagnosis of tumors since they assist in the detection of tumors in the body regions that are not detected by X-ray diagnosis.

As techniques for tumor identification and visualization become more effective with correct ultrasound diagnosis, the market for portable ultrasonography devices is anticipated to experience rapid expansion over the course of the provided projection period. The innovation and increase in product development activities, which has led to a greater acceptance of portable ultrasound machines for diagnosis globally, is another important driver driving the growth of the ultrasound devices market. Therefore, throughout the forecast period, all the aforementioned reasons are anticipated to accelerate the expansion of the market for portable ultrasound devices. Expensive prices and restricted image optimization due to small screens are the key factors anticipated to hinder the expansion of the market.

Portable ultrasound devices – Global market assessment and forecast
In terms of geographical distribution, North America is anticipated to hold the greatest market share for portable ultrasound devices worldwide in the coming years. The increasing prevalence of serious chronic diseases like cardiovascular, oncological, and others, growing awareness of the need for early diagnosis, and an aging population are predicted to support the expansion of the Portable Ultrasound Devices Market in the North American region. As per CDC (in 2020), the number of new cancer cases rose by 24% in men and 21% in women in the United States in the year 2019. The staggering numbers of cancer and chronic disease cases and the associated deaths can be greatly reduced if proper and timely diagnosis of diseases is accomplished, facilitating appropriate treatment mechanisms. In addition to the rise in chronic illnesses and cancer cases, product development activities including regulatory approvals and premarket approvals are also anticipated to contribute to the expansion of regional markets in North America for portable ultrasound equipment.

Portable ultrasound devices market – Key developments and breakthroughs
Over the years, the Portable Ultrasound Devices market has evolved significantly, owing to the active participation of companies and intense technological advancements in the domain. Similarly, several clinical, commercial, and regulatory developments have also been registered in the market. Some of the major advancements in the Portable Ultrasound Devices market in recent years include –

• In February 2023, Mindray launched a new handheld ultrasound device, TE Air, emphasizing quality imaging and a variety of features to promote efficient diagnosis. The TE Air reportedly combines enhanced point-of-care ultrasound imaging with an array of practical benefits for radiologists.
• In September 2022, Philips announced that it received 510(k) clearance from the US FDA for the innovative 5000 Compact Series.
• In May 2022, Clarius received CE Mark certification for seven new ultraportable Wireless Ultrasound Scanners for Apple and Android Devices, known as the Clarius HD3 line of pocket-sized ultrasound scanners. Being miniaturized to the size of an iPhone, the third-generation ultrasound scanners make high-definition ultrasound affordable for more doctors across specialties in Europe colors.
• In January 2022, EagleView Ultrasound launched its First Portable Doppler Ultrasound, by providing affordable, high-quality POCUS (point-of-care ultrasound) with whole-body imaging technology. EagleView Ultrasound also allows clinicians to quickly access ultrasound images anytime, anywhere.
• In March 2021, GE Healthcare unveiled its new, hand-held ultrasound device, the Vscan Air, for sale in the U.S. and Europe.
• In August 2021, EchoNous announced that the US FDA issued a 510(k) clearance for its Lexsa probe, the third hand-held scanner unveiled by EchoNous to be used as part of its artificial-intelligence-powered Kosmos imaging platform.

Key companies in the portable ultrasound devices market
Globally, some of the leading Portable Ultrasound Devices companies actively working in the market include GE HealthCare, FUJIFILM Sonosite, Inc, Samsung Healthcare, Koninklijke Philips N.V., Seimens Healthcare Private Limited, EchoNous, Shenzen Mindray Bio-Medical Electronics Co., Ltd., Healcerion Co., Ltd, Canon Medical Systems Corporation, FUKUDA DENSHI, Hitachi, Ltd., SonoScape Medical Corp., CHISON Medical Technologies Co., Ltd., Clarius, ESAOTE SPA, Toshiba Corporation, LOTTE ENERGY MATERIALS Co., Ltd, Butterfly Network, Inc., EDAN Instruments, Inc, Zimmer MedizinSysteme GmbH, and others. Owing to the rising demand and favorable growth opportunities for revenue generation, several new players are anticipated to enter the market, thereby leading to high competitiveness in the domain. DelveInsight