Portable Ultrasound Devices Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.86 Billion |
| Market Size (2029) | USD 3.87 Billion |
| CAGR (2024 - 2029) | 6.23 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Portable Ultrasound Devices Market Analysis
The Portable Ultrasound Devices Market size is estimated at USD 2.86 billion in 2024, and is expected to reach USD 3.87 billion by 2029, growing at a CAGR of 6.23% during the forecast period (2024-2029).
The major factors that are responsible for the growth of the portable ultrasound devices market includes the increasing spectrum of applications of the portable ultrasound, increasing advancements in technology, and the growing prevalence of chronic diseases.
The introduction of portable ultrasound devices has a variety of applications in many emerging fields, like emergency medicine, critical care medicine, and musculoskeletal. Portable ultrasound devices are used for easy access to ultrasound when limited space is there. Currently, these devices are being used in the major areas of diseases, such as cardiology, radiology endocrinology and gynecology. Since there is a rising need of ambulatory services across developing as well as developed countries, the demand for portable ultrasound devices is increasing, which is leading to the growth of the market.
Portable Ultrasound Devices Market Trends
This section covers the major market trends shaping the Portable Ultrasound Devices Market according to our research experts:
Mobile Ultrasound Devices is Expected to Grow with High CAGR Over the Forecast Period
The mobile ultrasound devices segment of the portable ultrasound devices market is expected to experience the fastest growth rate over the forecast period. Mobile ultrasound devices are gaining attraction in the developing regions, due to the rising demand for ambulatory care. Although developed countries, like the United States, have a well-established market for handheld ultrasound devices, there is also a rising demand for mobile ultrasound devices. Due to its efficacy in providing mobile care, the segment is expected to grow rapidly over the forecast period.
North America Dominates the Market and Expected to Follow the Same Trend Over the Forecast Period
North America currently dominates the portable ultrasound devices market and is expected to continue its stronghold for a few more years. This can be majorly attributed due to advanced health infrastructure, increasing prevalence of diseases and infections, growing emphasis on the development of innovative products, and rising number of regional companies manufacturing portable ultrasound devices.
Asia Pacific region is also expected to grow at the high CAGR on account of improving health care infrastructure, rising disposable incomes, public growing awareness levels.
Portable Ultrasound Devices Industry Overview
The portable ultrasound devices market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. With the rising need of mobile health and the advancements in ultrasonography, few smaller players are entering the market and holding a substantial share. Some of the major players of the market are Fukuda Denshi, Hitachi Ltd, Koninklijke Philips NV, Canon Medical Systems Corporation, and Siemens Healthineers, among others.
Portable Ultrasound Devices Market Leaders
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Hitachi Ltd
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Koninklijke Philips NV
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Canon Medical Systems Corporation
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Siemens Healthineers
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Fukuda Denshi
*Disclaimer: Major Players sorted in no particular order
Portable Ultrasound Devices Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Increasing Spectrum of Applications of Portable Ultrasound
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4.2.2 Rising Advancements in Technology
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4.2.3 Increasing Prevalence of Chronic Diseases
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4.3 Market Restraints
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4.3.1 High Cost of Portable Ultrasound Systems
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4.3.2 Lack of Dedicated Training Programs by Companies
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4.4 Porter's Five Forces Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type of Device
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5.1.1 Mobile Ultrasound Device
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5.1.2 Handheld Ultrasound Device
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5.2 By Application
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5.2.1 Gynecology
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5.2.2 Cardiovascular
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5.2.3 Urology
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5.2.4 Musculoskeletal
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5.2.5 Anesthesiology
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5.2.6 Others
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5.3 Geography
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5.3.1 North America
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5.3.1.1 United States
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5.3.1.2 Canada
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5.3.1.3 Mexico
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5.3.2 Europe
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5.3.2.1 Germany
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5.3.2.2 United Kingdom
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5.3.2.3 France
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5.3.2.4 Italy
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5.3.2.5 Spain
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5.3.2.6 Rest of Europe
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5.3.3 Asia-Pacific
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5.3.3.1 China
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5.3.3.2 Japan
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5.3.3.3 India
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5.3.3.4 Australia
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5.3.3.5 South Korea
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5.3.3.6 Rest of Asia-Pacific
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5.3.4 Middle East & Africa
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5.3.4.1 GCC
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5.3.4.2 South Africa
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5.3.4.3 Rest of Middle East & Africa
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5.3.5 South America
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5.3.5.1 Brazil
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5.3.5.2 Argentina
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5.3.5.3 Rest of South America
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 Fujifilm SonoSite Inc.
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6.1.2 GE Healthcare
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6.1.3 Hitachi Ltd
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6.1.4 Shenzhen Mindray
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6.1.5 Canon Medical Systems Corporation
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6.1.6 Koninklijke Philips NV
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6.1.7 Samsung Healthcare
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6.1.8 Siemens Healthineers
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6.1.9 Fukuda Denshi Co. Ltd
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Portable Ultrasound Devices Industry Segmentation
As per the scope of the market, portable ultrasound devices are small systems compared to traditional ultrasound systems. These devices are lightweight and easy to handle.
| By Type of Device | |
| Mobile Ultrasound Device | |
| Handheld Ultrasound Device |
| By Application | |
| Gynecology | |
| Cardiovascular | |
| Urology | |
| Musculoskeletal | |
| Anesthesiology | |
| Others |
| Geography | ||||||||
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Portable Ultrasound Devices Market Research FAQs
How big is the Portable Ultrasound Devices Market?
The Portable Ultrasound Devices Market size is expected to reach USD 2.86 billion in 2024 and grow at a CAGR of 6.23% to reach USD 3.87 billion by 2029.
What is the current Portable Ultrasound Devices Market size?
In 2024, the Portable Ultrasound Devices Market size is expected to reach USD 2.86 billion.
Who are the key players in Portable Ultrasound Devices Market?
Hitachi Ltd, Koninklijke Philips NV, Canon Medical Systems Corporation, Siemens Healthineers and Fukuda Denshi are the major companies operating in the Portable Ultrasound Devices Market.
Which is the fastest growing region in Portable Ultrasound Devices Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Portable Ultrasound Devices Market?
In 2024, the North America accounts for the largest market share in Portable Ultrasound Devices Market.
What years does this Portable Ultrasound Devices Market cover, and what was the market size in 2023?
In 2023, the Portable Ultrasound Devices Market size was estimated at USD 2.69 billion. The report covers the Portable Ultrasound Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Portable Ultrasound Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Portable Ultrasound Device Industry Report
Statistics for the 2024 Portable Ultrasound Device market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Portable Ultrasound Device analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
