Point of Care Ultrasound Market Outlook - 2027
Point-of-care ultrasound is also called as POCUS. It refers to the practice of medical professionals using a portable ultrasound for diagnosis and therapeutic purpose even in remote areas POCUS aids in the faster treatment of their patients with accuracy and non-invasive way and also eliminates the travel barrier that conventional bedside ultrasound devices lacked. POCUS is helpful in several clinical situations and can be used in combination with various medical equipment like an intensive care unit (ICU) to keep track of clinical conditions, during an emergency to explore the internal or external pathological findings and it can also be used with a physiological monitoring such as hemodynamic assessment, cardiac function and volume status.
Point-of-care ultrasound has potential to save billions spent on annually over health systems and reduce the healthcare service costs. Improvement in patient outcome, reduction in fatalities and medical risk scenarios are the advantages of using POCUS over the conventional medical systems. Furthermore, ultrasonography provides medical professional professionals with optimum solutions like real time information update to treat injured patients even in an emergency and remote care facilities.
COVID – 19 scenario analysis:
- The COVID-19 pandemic has emerged as a humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses
- Industry closures and people are asked to stay in their homes which has cause taken a huge toll in terms of money and economic growth
- Over 4 million people affected globally, with 300 thousand losing their lives due to SARS-CoV-2
- Healthcare organizations are already working in battle mode, preparing new plans to respond growing COVID-19 patients, right from sourcing rapid diagnosing kits to sufficient PPE kits for workers
- Due to diversion of medical field towards treating COVID-19, the funding to R&D activities related to point-of-care ultrasound has been reduced and this segment have to face negligence subsequently causing negative impact on point-of-care ultrasound market
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Major factors driving the point of care ultrasound market are increasing patient pool requiring admissions in emergency care and technological developments in healthcare services owing to extensive research and development activities. This has led to the adoption of advanced technology such as POCUS devices for precise and rapid diagnostics, especially in the emergency care department. POCUS devices can potentially reduce the time consumption between the onset of symptoms and decision making on a definitive therapy which would result in reduction of mortality in patients with serious health concerns.
Rising prevalence of chronic diseases and number of patients needing emergency care due to various health ailments such as acute abdominal pain, urology problem and immense chest pain would surge the demand for POCUS devices. Healthcare and Utilization Project report stated that 6.0 million emergency department visits were diagnosed with abdominal pain in 2014, highlighting an extraordinary 32.0% increase compared to 2006. POCUS aids in cases of abdominal pain as it can feature various pathologies associated to abdominal pain. In addition, it is has the ability to facilitate the patient care and improve efficacy of medical procedures, decrease complications, and save crucial time.
The wide range applications of point of care ultrasounds as therapeutic as well as diagnostic device would boost the demand for these devices thereby guiding the growth for POCUS devices market. POCUS can be used in various therapeutic treatments including pain management, inflammation and muscle spasm being a key reason for acquiring and utilizing the increasing usage of POCUS devices in emergency department.
On the contrary, stringent reimbursement scenario in healthcare sector can potentially impede the development of point of care ultrasound devices market.
Technological advancements to amplify the growth
The technological advances in ultrasound technology have propelled the emergence and adoption of point-of-care ultrasonography owing to its benefits including improved ease-of-use, superior image quality, and lower cost ultrasound units. For instance, FDA flagged a green signal to the approval by Koios medical for its product Koios DS Breast 2.0. This device was backed with an artificial intelligence based diagnostic technology, with enhanced capabilities of predicting the probability of malignancy with appropriate Breast Imaging-Reporting and Data System (BI-RADS).
Similarly, in April 2017, industry players B. Braun and Phillips signed strategic agreement to develop an ultrasound-guided regional anesthesia and vascular access. The strategy aimed at broadening its product portfolio.
POCUS is also regularly being utilized by physicians in assessment of cardiac arrests, the American Heart Association (AHA) released new guidelines in 2015 to regarding its use during the management of cardiac arrest. Such developments would ensure the expansion of point of care ultrasound market in coming years.
North American region dominates the market
North America is expected to lead the point of care ultrasound market throughout. The dominance is due to factors like rise in the global prevalence of chronic diseases, rising cases of emergencies and road accidents and higher adoption of technology in the region resulting higher demand for affordable treatment and cost effective therapies is propelling the market in the U.S. According to Centers for Disease Control and Prevention, cardiac diseases are a leading cause of death in American men. Drastic rise in healthcare expenditure and high strain to get better health outputs at lower costs, availability of a well-developed infrastructure and presence of major industry are the other factors fostering the market in the near future.
Key benefits of the report:
- This study presents the analytical depiction of the global point of care ultrasound market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global point of care ultrasound market share.
- The current market is quantitatively analyzed to highlight the global point of care ultrasound market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global point of care ultrasound market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Point-of-care ultrasound Market research report:
- What are the leading market players active in the point-of-care ultrasound market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Point of Care Ultrasound Market Report Highlights
Aspects | Details |
By Type |
|
By Application |
|
By Portability |
|
By End User |
|
By Region |
|
Key Market Players | Mindray Bio-Medical Electronics, Koninklije Philips N.V., Samsung Electronics, GE Healthcare, B. Braun, Canon Medical Systems, Siemens Healthcare, Analogic, Fujifilm Holdings Corporation |
Other Players | Samsung Medison Co. Ltd., Esaote SpA |
Loading Table Of Content...