Press release
Point-of-Care Ultraosund Device Market Outlook, Trends and Future Prospects Details with Top Key Companies Like Esaote S.p.A, Mindray Bio-Medical Electronics Co. Ltd., Analogic Corporation, General Electric Company, Siemens AG, Fujifilm Holdings Corporati
The market is mainly driven by surge in geriatric population, increasing prevalence of chronic diseases, technological advancements in PoCUS devices, increasing awareness about the benefits of portable ultrasound devices, and rising healthcare expenditure.
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Based on type, the PoCUS device market has been categorized into diagnostic and therapeutic devices. During the forecast period, the market demand for therapeutic devices is expected to witness faster growth, at a CAGR of 8.4%, owing to its non-invasive feature and ability to relieve pain and inflammation, reduce muscle spasm, offer fast healing and increased range of motion.
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PoCUS devices have various applications in the fields of emergency medicine, cardiology, obstetrics and gynecology, vascular and urology, musculoskeletal, and others. Among these, the market is expected to witness the fastest growth in emergency medicine, during the forecast period. Benefits of these devices include procedural safety, timeliness of care, diagnostic accuracy and reduced costs, that have led to their increased adoption in emergency departments.
During the forecast period, the PoCUS device market is expected to witness the fastest growth in APAC, at a CAGR of 7.5%. Increasing need for point-of-care in emergency departments, rising prevalence of chronic and lifestyle diseases and strengthening of networks of international device manufacturers in APAC, are the factors leading to high demand for these devices, which in turn, is boosting the market growth in APAC.
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Japan was the largest market for PoCUS devices in APAC. Surge in geriatric population, technological advancements and high healthcare expenditure are driving the growth of the Japanese PoCUS device market. According to the United Nations reports, 33.4% of Japan’s population was above 60 years, in 2017, and it is expected to reach 42.4% by 2050. Due to this increasing aging population and the rising prevalence of age related disorders, the Japanese government spends a significant portion of its gross domestic product (GDP) on healthcare. In 2000, 7.15% of Japan’s GDP was spent on healthcare and it increased to 10.9% in 2015.
Some of the other major players operating in the PoCUS device market are Esaote S.p.A, Mindray Bio-Medical Electronics Co. Ltd., Analogic Corporation, General Electric Company, Siemens AG, Fujifilm Holdings Corporation, Samsung Electronics Co. Ltd., Koninklijke Philips N.V., and Canon Medical Systems Corporation.
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