Point of Care Ultrasound Market Forecast 2025 By Global Industry Players
The influx of the latest technologies and the spike in the number of birth rates worldwide will influence point of care ultrasound (POCUS) market trends over the coming years. Point-of-care ultrasound machines are used for the diagnosis of trauma injuries in emergency departments. They also witness higher demand in pregnancy cases to detect anomalies as well as to monitor the fetal heart rate and free fluids as they offer ease of access to different baby positions inside the womb.
POC ultrasound can be touted as a powerful tool that is witnessing optimum use in the treatment of trauma patients that need procedural assistance like anesthesia and vascular access. For instance, focused assessment with sonography for trauma (FAST) is a bedside examination based ultrasound procedure mainly performed by physicians to determine the accurate disposition of trauma patients.
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It has been reported that the global point of care ultrasound market size will globally reach an annual estimation of more than USD 3 billion by 2025.
Scope for use in homecare
Therapeutic devices contributed to 30% of the global POCUS industry share in 2018 and are likely to amass a substantial revenue through the next few years. This can be owed to the higher preference for these devices in home care settings as they render patients with real-time data in the comfort of their homes.
Besides, the adoption of the point of the care ultrasound apparatus in non-invasive techniques and demand for therapeutic devices for assistance in cosmetic surgeries as well as other applications will boost the business prospects for the overall market.
Preference for portable devices
Trolley based point of care ultrasound devices contributed to an annual remuneration of more than USD 1.4 billion in 2018 due to their increasing utilization in emergency and acute care settings. Owing to their effective portable features, the trolley based devices can be treated as an essential instrument across healthcare settings.
For instance, GE Healthcare, in early 2017, launched Vscan, a portable ultrasound machine to help in the measurement of bladder volume and the inspection of heart failure in the affected patients.
Treatment of musculoskeletal ailments
Application of POC ultrasound courses to treat musculoskeletal disorders was responsible for close to 14% of the total revenue in 2018. This can be attributed to the assistance offered in pain management during the diagnosis of patients exhibiting related symptoms as well as the efficiency of the devices to render corrective and accurate information pertaining to muscle tear and intramuscular hemorrhage.
Demand for point of care ultrasound uses across maternity centers grossed a global revenue share of USD 340 million in 2018 due to the surge in the number of birth rates. There is also a rising need to generate accurate and easy health information pertaining to the patients.
Competitive landscape in North America
North America POCUS market is anticipated to gain momentum, recording a 4% CAGR over the next few years with robust consumer awareness for early disease diagnosis and the prevalence of chronic conditions. Technological progressions in sonography techniques and devices will boost regional demand.
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Suppliers of point of care ultrasound machines are incorporating various marketing strategies and coming up with novel product developments to increase their global visibility. The present COVID-19 pandemic has also considerably influenced the industry trends. For instance, Fujifilm Sonosite Inc, a leading firm, received the 510(k) Clearance from U.S. FDA to offer healthcare providers with its entire POCUS portfolio to perform accurate lung and cardiac imaging procedures in COVID-19 patients.
Higher adoption across emergency departments (ED) considering their cost-effectiveness and versatility of use will enhance the developments in POC ultrasound technology. There are also continuous innovations by solution providers to yield successful outcomes and enhance patient care leading to increased sales. Albeit, irregular reimbursement policies related to the sonography procedures may impact market growth to a certain extent.