The market is driven by factors such as expanding the geriatric population, technological advancements in point-of-care ultrasound devices, and mounting healthcare expenditure is the primary growth drivers for the point-of-care ultrasound device market. For instance, according to the World Health Organization (WHO), globally in 2010 approximately 524 million people were aged 65 years and older and is expected to reach 1.5 billion in 2050.

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The mounting occurrence of chronic diseases, refining healthcare infrastructure in developing countries, and escalating alertness about the advantages of portable ultrasound devices are also facilitating the growth for the point-of-care ultrasound device market.

On the basis of the type, the market is subdivided into diagnostic and therapeutic. Of all types, the therapeutic segment is expected to grow at faster rate in the market due to its capability to relieve pain and inflammation, offer speedy healing, decrease muscle spasm, and enlarged range of motion. The diagnostic segment accounted for a larger share in the market, due to progressively accept diagnose of several chronic disorders and accurate results.

North America accounted for the major share in the point-of-care ultrasound device industry in 2017, globally as in the region the occurrence of chronic diseases is increasing. For instance, according to CDC, in the U.S. approximately 610,000 people die every year due to heart disease. Moreover, Asia-Pacific is observed to witness the fastest growth in the market, due to expanding the geriatric population and mounting healthcare expenditure. In addition, the mounting occurrence of chronic diseases and refining healthcare infrastructure are also creating a positive impact on the point-of-care ultrasound device market growth in the region.

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Mindray Bio-Medical Electronics Co. Ltd., Siemens AG, Koninklijke Philips N.V., General Electric Company, Canon Medical Systems Corporation, Samsung Electronics Co. Ltd., Esaote S.p.A, Hitachi Ltd., Analogic Corporation, and Fujifilm Holdings Corporation are the key players offering point-of-care ultrasound device. Globally, the manufacturing companies trying to enter the point-of-care ultrasound device market are required to maintain stringent regulatory standards.

Source: VynZ Research