Growing demand for fast and accurate diagnostic tools is expected to drive point of care ultrasound market growth in the ensuing years. Point-of-care ultrasound (POCUS) has become a standard tool in the emergency department, as it answers to specific clinical queries that narrow differentials, guide clinical therapy, and direct consultations and disposition.
Recent technological advancements have led to the development of miniature POCUS that range from stationary high-end systems to small sized devices that can easily be used to perform bedside tests as well as attain increased accuracy compared to traditional stethoscopes.
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Rising elderly population, mostly prone to acute healthcare conditions like arthritis, heart disease, cancer, respiratory diseases and more, will help in augmenting point-of-care ultrasound industry size. For instance, reports from World Population Ageing 2017 cite that the total number of people aged above 80 across the globe will increase from 137 million to 425 million between 2017 and 2050.
Whereas, number of people aged over 60 are expected to be around 2.1 billion by 2050, slightly more compared to youth aged between 10-24 (2.0 billion) in the forecast timeline. These figures conclusively indicate a potential increase in demand for handheld and portable bedside diagnostic devices like POCUS in the aforementioned period.
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Recently, the point-of-care ultrasound market size has registered immense inflation through the cardiology segment mainly due to the use of POCUS to determine the cause of cardiac arrest as well as for guiding resuscitation and interventions. The advent of smaller and more portable machines combined with improved picture quality has further increased product demand. POCUS has essentially helped patients with pulseless electrical activity (PEA) in revealing anatomic causes like cardiac tamponade, tension pneumothorax and pulmonary embolism.
Additionally, the sheer rise in cases of cardiac arrest across the globe is anticipated to amplify point of care ultrasound market size over the coming years. For instance, according to American Health Association’s Heart Disease and Stroke Statistics 2018, cardiovascular disease is said to be the main cause of death globally, accounting for over 17.9 million deaths in 2015 and is projected to grow to over 23.6 million by 2030.
With POCUS becoming a rather common diagnostic tool for cardiac resuscitation and helping in identifying anatomic causes for cardiac issues, POC ultrasound market will have much to gain from cardiology applications. Indeed, POC industry size from cardiology applications is slated to show a CAGR of 5.3% over 2019-2025.
Chapter 1. Methodology
1.2. Market definitions
1.3. Forecast parameters
1.4. Data sources
22.214.171.124. Paid sources
126.96.36.199. Unpaid sources
Chapter 2. Executive Summary
2.1. Point of care ultrasound industry 360º synopsis, 2014-2025
2.1.1. Business trends
2.1.2. Type trends
2.1.3. Portability trends
2.1.4. Application trends
2.1.5. End-use trends
2.1.6. Regional trends
Chapter 3. Point of Care Ultrasound Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2014-2025
3.3. Industry impact forces
3.3.1. Growth drivers
188.8.131.52. Rising adoption of point of care ultrasound in emergency department
184.108.40.206. Increasing birth rates worldwide
220.127.116.11. Technological innovations and advancements in point of care ultrasound systems in developed economies
18.104.22.168. Increasing disease burden along with rapidly growing geriatric population base in developing regions
3.3.2. Industry pitfalls and challenges
22.214.171.124. Irregular reimbursement policies
3.4. Growth potential analysis
3.4.1. By type
3.4.2. By portability
3.4.3. By application
3.4.4. By end-use
3.5. Porter’s analysis
3.6. Competitive landscape, 2017
3.6.1. Company market share analysis
3.6.2. Strategy dashboard
3.7. PESTEL analysis