Point-of-Care Ultrasound Device Market is Predicted to Witness the Fastest Growth in North America
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.
Ultrasound is an imaging technique that utilizes high-frequency sound waves to produce images of various organs inside the body. This technique allows the live visualization of internal organs, tendons, muscles, and blood flow through the vessels. Ultrasound devices are easy to operate, do not use ionizing radiation, and are portable. Besides helping in disease diagnosis, they also help in treatment of various pathological conditions such as cancer. These are used for guided procedures as well, such as guided breast biopsies and needle biopsies.
This increase in the prevalence of chronic ailments is mainly due to poor lifestyle choices and lack of access to preventive healthcare. According to the World Health Organization, the number of deaths because of CVDs is expected to reach 23.3 million by 2030. Similarly, the National Cancer Institute estimated the number of new cancer cases to be diagnosed in the U.S. in 2018 at 1,735,350. PoCUS devices play an important role in diagnosing such conditions without patients having to visit hospitals, thereby helping reduce the healthcare cost.
Segmentation of the point-of-care ultrasound device market is done by application, type, and portability. In the application segment, the various categories are obstetrics and gynecology, cardiology, musculoskeletal, vascular and urology, emergency medicine, and others. In 2017, 28.6% of contribution in terms of revenue was made by the emergency medicine category. The same category is expected to hold the largest share in the market during the forecast period as well, owing to the rising demand for advanced PoCUS devices in this field.
Hence, it is clear that the market is slated to witness fast growth during the forecast period owing to the various advantages offered by PoCUS devices, especially in remote settings.
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This increase in the prevalence of chronic ailments is mainly due to poor lifestyle choices and lack of access to preventive healthcare. According to the World Health Organization, the number of deaths because of CVDs is expected to reach 23.3 million by 2030. Similarly, the National Cancer Institute estimated the number of new cancer cases to be diagnosed in the U.S. in 2018 at 1,735,350. PoCUS devices play an important role in diagnosing such conditions without patients having to visit hospitals, thereby helping reduce the healthcare cost.
Segmentation of the point-of-care ultrasound device market is done by application, type, and portability. In the application segment, the various categories are obstetrics and gynecology, cardiology, musculoskeletal, vascular and urology, emergency medicine, and others. In 2017, 28.6% of contribution in terms of revenue was made by the emergency medicine category. The same category is expected to hold the largest share in the market during the forecast period as well, owing to the rising demand for advanced PoCUS devices in this field.
Hence, it is clear that the market is slated to witness fast growth during the forecast period owing to the various advantages offered by PoCUS devices, especially in remote settings.
Read More….
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