Handheld Ultrasound Devices Market with Future Growth Opportunity by Top Companies to 2030

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The global market for Handheld Ultrasound Devices was worth USD 2.03 billion in 2021, and is expected to grow at a revenue CAGR of 12.2% during the forecast period. Factors driving the growth of the market include the increasing prevalence of chronic diseases such as cancer, endocrine, gastrointestinal, neurological disorders, and heart diseases among the aging population, as well as the growing trend of diagnostic imaging in the medical device ecosystem.

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Chronic diseases are the most prevalent and expensive treatment in some regions, leading to serious consequences such as hospitalization, long-term illness, and death. In addition, the increasing number of patients suffering from pulmonary artery-related disorders is also driving market growth.

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Handheld ultrasound devices are smaller than cart-based ultrasound devices, making them convenient for complex medical procedures such as abdominal and heart surgeries. They enable imaging in Point-of-Care (PoC) settings for patients suffering from traumatic injury or abdominal pain caused by gallbladder blockage or gallstone.

The rapid adoption of handheld ultrasound devices has led to a significant increase in the demand for diagnostic imaging tests, as these devices offer immediate results without sacrificing accuracy. Diagnostic imaging involves the creation of instant visual representations of the body's internal structures through methods such as radiographs, ultrasound, and fluoroscopy. These techniques are playing a crucial role in the diagnosis and management of various chronic diseases by providing precise diagnostic imaging results.

Many prominent players in the market are actively harnessing technological advancements in the field of diagnostic imaging. For example, Samsung Medison has partnered with Intel Corporation to enhance real-time nerve imaging, enabling the quick and accurate detection of anesthesia effects. This collaboration represents one of the many efforts to leverage technology for improving the capabilities and applications of diagnostic imaging in healthcare.

Key companies in the Handheld Ultrasound Devices Market –

Some of the key companies operating in the handheld ultrasound devices market include:

1. General Electric Company
2. Koninklijke Philips N.V.
3. Siemens Healthineers AG
4. Fujifilm Holdings Corporation
5. Samsung Medison Co., Ltd.
6. Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
7. Esaote SpA
8. Clarius Mobile Health
9. Butterfly Network, Inc.
10. Terason Corporation

Recent technological advancements in ultrasound image systems, such as commercial implementation of neural network and deep learning algorithm for ultrasound scanning, detection of diseases, and ultrasound image classification, are notable because of large market players such as GE Healthcare, Siemens Healthineers working on the effectiveness of diagnostic imaging interpretation in various 2D, 3D, and 4D formats. Furthermore, the growth prospect of handheld ultrasound devices is in the introduction stage, and hence, more applications of handheld ultrasound devices are yet to be discovered as the number of clinical trials and approvals progresses.

Notable Innovations in the Handheld Ultrasound Devices Market –

The handheld ultrasound devices market has seen a significant number of innovations in recent years. Some notable innovations include:

1. Wireless Ultrasound Devices: Wireless ultrasound devices have eliminated the need for cables and wires, providing greater flexibility and ease of use. The wireless devices are small, portable, and can connect to smartphones or tablets, making it easier to share images and results with other medical professionals.
2. Artificial Intelligence (AI) Integration: The integration of AI technology into handheld ultrasound devices has enabled faster and more accurate diagnosis of medical conditions. AI algorithms can assist with image recognition and interpretation, improving accuracy and reducing the risk of misdiagnosis.
3. 3D and 4D Imaging: Handheld ultrasound devices now offer 3D and 4D imaging capabilities, which allow doctors to view the images in greater detail and from different angles. This can help doctors to identify abnormalities and diagnose conditions more accurately.
4. Automated Measurements: Many handheld ultrasound devices now come with automated measurement features, which can save time and reduce the risk of errors. The devices can automatically measure parameters such as heart rate, blood flow, and fetal measurements.
5. Portable and Lightweight Design: One of the most significant innovations in handheld ultrasound devices is the development of smaller and more lightweight designs. This has made it easier for healthcare professionals to carry and use the devices in various settings, including remote and rural locations.

The COVID-19 pandemic has forced medical professionals to deal with critical situations such as delays or interruptions in surgery, follow-up care, and routine consultations of patients. However, the market has witnessed a positive impact during the pandemic, and companies such as GE Healthcare, Agfa-Gevaert, and others have recorded strong sales growth of handheld ultrasound devices.

Due to the widespread prevalence of coronavirus, a large number of hospitals were offering only emergency services for COVID-19 infected patients. As a result, many patients have shifted under extended mechanical ventilation support. Handheld ultrasound devices have been widely adopted by hospitals for monitoring ventilation support of COVID-19 infected patients. In addition, they have been used rapidly to monitor cardiac conditions, deep vein thrombosis, and lung ultrasound imaging of COVID-19 infected patients.

Based on device type, the handheld ultrasound devices market has been segmented into wired and wireless. The wired segment accounted for a larger revenue share in 2021. Wired handheld ultrasound devices are widely used in hospitals.

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