Factors such as the rising prevalence of lifestyle-associated diseases, growing geriatric population, and increasing demand for minimal invasive diagnosis and treatment are driving the popularity of ultrasound devices. In 2017, the global point-of-care ultrasound (PoCUS) device market generated a revenue of $1.9 billion and is expected to grow at a CAGR of 6.7% during the forecast period (2018–2025). The phrase, PoCUS, refers to the provision of ultrasound imaging services at the patient’s location, which does not necessarily have to be a healthcare facility.
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The point-of-care ultrasound (PoCUS) device market is being driven by numerous factors, one of which is technological advancements. Not only are these devices becoming smaller, these are also being integrated with wireless connectivity. Further, the deployment of advanced 3D and 4D technologies in PoCUS devices is resulting in more efficient diagnosis of congenital defects and better visualization of a fetus’s heart. Further, the increasing prevalence of chronic disease, such as respiratory diseases, cardiovascular diseases (CVDs), diabetes, and cancer are also driving the market.
Based on type, the market is subdivided into therapeutic and diagnostic devices. The PoCUS device market was led by diagnostic devices, which held an 86.1% revenue share in 2017. These devices are becoming popular among doctors and technicians as they help in the accurate diagnosis of chronic conditions. Similarly, the bifurcations of the portability segment are compact/handheld devices and trolley/cart-based devices. A CAGR of 9.0% is expected for the compact/handheld category, attributed to their light weight and small size. Further, these are also used for the imaging of the pelvis, abdomen, thorax, fetuses, and peripheral vessels.
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This post was originally published on Financial Sector