Point of Care Ultrasound Market: An Overview

The global point of care ultrasound market is expected to rise at impressive pace during 2018-2028. This is mainly attributed to increase in prevalence of diseases and surge in geriatric population base worldwide.

Point-of-care ultrasound equipment are expected to hold immense potential in coming few years owing to their ability to empowers the primary care. They offer physician precious diagnostic information and help in targeted clinical procedures. There by reducing prolonged patient stay in hospitals.

An upcoming report on the point of care ultrasound market by Transparency Market Research is expected to provide an in depth analysis on industry. The report will through light on several segments of the point of care ultrasound market. Along with this, the report is anticipated to consists of vital data that will indicate growth and latest trend in point of care ultrasound market during the forecast period. 

Point of Care Ultrasound Market: Notable Developments

Some of the recent development in the point of care ultrasound market are-

Key players in PoCUS device industry adopting several strategies such as acquisitions and mergers, business expansion and collaboration to stay ahead of each other. This can be related with the recent developed in the industry. In January 2018, Hitachi Healthcare Americas Corporation, a prominent players and subsidiary of Hitachi Ltd. acquired VidiStar LLC, a clinical analytics company. The acquisition will help Hitachi’s informatics expand its analytical capabilities and will help them improve workflow for physicians particularly in diagnostic ultrasound examinations.

Apart from this, some of the other major players operating in the point of care ultrasound market are Mindray Bio-Medical Electronics Co. Ltd., General Electric Company, Siemens AG, Analogic Corporation, Fujifilm Holdings Corporation, Samsung Electronics Co. Ltd., Koninklijke Philips N.V., and Canon Medical Systems Corporation.

 Point of Care Ultrasound Market: Key Trends

The global point care ultrasound market is expected to rise at a stellar pace in the coming few years. This is mainly due to a surge in geriatric population, technological advancements in PoCUS equipment, increasing prevalence of chronic diseases, increasing awareness among people regarding benefits offered by portable ultrasound devices and rise in healthcare expenditure.

There are several application of PoCUS devices, they are widely used in emergency medicine, obstetrics, cardiology, gynecology, vascular, urology, and musculoskeletal. The increasing application of point of care ultrasound device market is another factor expected to propel the marker in the coming few years.  

The best part of using PoCUS is that physicians can bring ultrasound scanner to patient home. Thus aid in diagnosis of patient without need of patient to visit at the nursing home.  

However, several factors which are expected to impede growth in the point of care ultrasound market is the inadequate awareness among people regarding PoCUS, high cost of equipment and anon availability of developed medical infrastructure in developing countries.

Nevertheless, use of PoCUS in simple clinical procedures such as venous access, joint injections, is expected to improve adoption rate of point of care ultrasound market in the coming few years.

Point of Care Ultrasound Market: Regional Outlook

Geographically, North America is expected to hold maximum share in the point of care ultrasound market. This is mainly due to the rising adoption of point-of-care devices in emergency departments. Apart from this, increasing prevalence of chronic, lifestyle diseases and presence of developed medical healthcare infrastructure in the region is expected to propel the global point care ultrasound market in the region

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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