U.S. Point-of-Care Ultrasound Market Size, Share & Industry Analysis, By Product (Cart-based and Compact & Hand-held), By End User (Hospitals, Clinics, and Others), and Country Forecast, 2024-2032

The U.S. point-of-care ultrasound market size was worth USD 444.7 million in 2023 and is projected to grow at a CAGR of 14.4% during the forecast period. 

Ultrasound devices for point-of-care applications aid in the early evaluation or diagnosis of medical conditions. They are also useful in the emergency screening of patients across specialty clinics, ambulatory surgical centers, and primary health centers. The increasing emphasis of key players on introducing new and advanced products, coupled with the rising need for superior medical imaging technologies in outpatient care settings, is expected to boost the growth of the U.S. market during the forecast period.

• In October 2021, NeuroLogica Corp., the U.S. healthcare subsidiary of Samsung, launched the V8 - a new high-end ultrasound system that provides enhanced image quality, usability, and convenience for ultrasound professionals.

The impact of the COVID-19 pandemic on the market was positive in 2020 owing to an increase in the adoption of point-of-care ultrasound systems at homecare settings for health examinations and monitoring of patients.

LATEST TRENDS

High Adoption of Ultrasound Devices among Healthcare Professionals for Point-of-Care Applications

The awareness of compact point-of-care ultrasound devices is rapidly becoming ubiquitous across healthcare specialties owing to several factors including their portability, low cost, and high efficiency.

• According to an article published by Viatom Technology Co. Ltd., the adoption rate of portable ultrasound devices in developed countries is as high as 30-40%, showing good momentum.

Thus, owing to the high potential advantages of compact point-of-care ultrasound devices over traditional ultrasound equipment, their rising awareness and adoption among healthcare professionals for point-of-care interventions across the country is expected to propel the U.S. point-of-care ultrasound market growth.

DRIVING FACTORS

High Emphasis of Key Players on Collaborations for Ultrasound Device Launches to Propel Market Growth

The demand for compact point-of-care ultrasound devices is rising among healthcare professionals, such as anesthesiologists and orthopedists in hospital emergency rooms and intensive care units. Thus, the major key players are now focusing on developing and distributing technologically advanced products through collaborations and acquisitions across the country.

Such inorganic initiatives by industry players will increase the presence of ultrasound devices across the U.S., further augmenting U.S. point-of-care ultrasound market share.

• In June 2022, Clarius Mobile Health, a leading provider of high-definition wireless ultrasound systems, and ImaCor Inc., the hemodynamic ultrasound company, announced a partnership that enabled the availability of the world's first hand-held transesophageal echocardiography (TEE) system designed to manage and guide care for the most critically ill patients in the Intensive Care Unit (ICU).

RESTRAINING FACTORS

Limitations Associated with Use of Portable Devices to Hamper Their Adoption

Certain limitations associated with using hand-held ultrasound devices, such as limited image optimization, small screen size, and deferred image quality of compact devices, have limited the adoption of these devices.

Moreover, other factors associated with point-of-care applications of these devices, such as lack of experienced technicians and limited usage of equipment across the country are also restraining the usage of handheld devices in healthcare settings.

• The Journal of Hospital Medicine published a cohort study result in July 2022 carried out among Hospital Medicine Groups (HMGs) in Veterans Affairs (VA) medical centers between August 2019 and March 2020. The study results stated that the most common barrier to Point-of-Care Ultrasound (POCUS) use was the lack of training (89%).

Thus, the above-mentioned limiting factors might restrict the adoption of hand-held ultrasound devices across healthcare settings, further limiting the market growth.

SEGMENTATION

By Product Analysis

Based on product, the U.S. market is segmented into cart-based and compact & hand-held. The cart-based segment held a larger point-of-care ultrasound market share in 2022 due to the market players' robust focus on introducing and launching innovative systems for point-of-care applications.

• In June 2022, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., announced the launch of a new ultrasound system, the Imagyn I9 Ultrasound Machine, to address the demand for these systems in obstetrics and gynecology practices for women’s health.

By End User Analysis

Based on end-user, the U.S. market is segmented into hospitals, clinics, and others.

The hospital segment accounted for the largest market share in 2022 due to the strong demand for ultrasound imaging systems in hospitals' emergency care and Intensive Care Units (ICUs) owing to the rising prevalence of chronic diseases among the U.S. population.

• According to the National Heart, Lung, and Blood Institute statistics, in March 2022, about 15 million adults in the U.S. suffered from Chronic Obstructive Pulmonary Disease (COPD).

KEY INDUSTRY PLAYERS

The U.S. market's competitive landscape reflects the dominance of certain industry players, such as GE HealthCare, Siemens Healthineers, and Koninklijke Philips N.V. in ultrasound imaging. The leading players are engaged in various R&D initiatives for the launch of technologically advanced product offerings, further establishing a strong presence in the U.S. market.

• In May 2022, GE HealthCare announced an investment of up to USD 50 million in Pulsenmore to accelerate the adoption of ultrasound solutions and pursue FDA clearance and commercial expansion.

Other major players exerting dominance on the global market include Hitachi Ltd., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., and Butterfly Network, Inc. owing to their diversified and robust product portfolios for ultrasound systems in point-of-care applications. The companies’ strategies, such as high emphasis on integrating advanced solutions with their existing devices are anticipated to aid their efforts in driving the revenue margin of the U.S. market during the forecast period.

• In February 2022, Butterfly Network Inc. announced the launch of a new ultrasound platform, Dubbed Butterfly Blueprint, which can be integrated into a health system's clinical workflow.

LIST OF KEY COMPANIES PROFILED:

• GE HealthCare (U.S.)


• Koninklijke Philips N.V. (Netherlands)


• FUJIFILM Sonosite, Inc. (U.S.)


• ALPINION MEDICAL SYSTEMS Co., Ltd. (South Korea)


• Hitachi Ltd. (Japan)


• Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)


• EDAN Instruments (China)


• TERASON DIVISION TERATECH CORPORATION (U.S.)


• CHISON Medical Technologies Co., Ltd. (China)


• Healcerion Co., Ltd. (South Korea)


• Butterfly Network, Inc. (U.S.)


• Becton, Dickinson, and Company (U.S.)


• Zimmer MedizinSysteme GmbH (Germany)


• Advanced Instrumentations (Florida)


• DRE Medical (U.S.)


• DRAMIŃSKI S. A. (Poland)

KEY INDUSTRY DEVELOPMENTS:

• July 2022: GE HealthCare launched its ultra-premium ultrasound, the next-generation Voluson Expert 2022, in the women’s health portfolio.


• February 2021 - GE HealthCare launched a new hand-held ultrasound device, Vscan Air - an update to its first-generation Vscan device, which was released in 2010. The device is commercially available in the U.S. and Europe.


• January 2020 – Shenzhen Mindray Bio-Medical Electronics Co. Ltd. announced the launch of its latest product, the TE7 ACE Point-of-Care Solution.

REPORT COVERAGE

The market research report provides a detailed analysis of the market. It focuses on key aspects, such as disease burden, technological advancements, and key mergers, acquisitions & partnerships in the market. Besides this, it offers insights into the market trends and highlights vital industry dynamics. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the global market in recent years.

Report Scope & Segmentation