Global Ultraportable Ultrasound Devices Market: Overview
An ultrasound device is a diagnostic tool (sometimes also used as a therapeutic tool) that works on the principle of frequency (1–5 Megahertz) and echo of ultrasound. The primary components of an ultrasound device are an ultrasound probe and piezoelectric crystal, a central processing unit, and display systems. When electric current is applied to piezoelectric crystals, their shape changes and ultrasound is generated. Conversely, when the ultrasound (or vibration) hits these crystals, they develop electric current. These sound waves travel through the tissue, the fluid, or the bone and they are reflected to the probe until they hit the boundary of the tissue. The waves reflected are picked up by probes and relayed to the central processing unit. The central processing unit calculates distance of travel of ultrasound from the probe to the tissue and the time taken by sound waves for returning. The machine then exhibits distances and intensities of echoes on the screen.
An ultraportable ultrasound device (sometimes called pocket ultrasound) is a wireless ultrasound device that provides superior image quality. It can work through android and iOS phones. In a sophisticated machine, high-sensitivity transducers with the facility of artificial intelligence (AI) are used for achieving better image quality. The images and data can be stored in cloud and shared to remote locations.
Global Ultraportable Ultrasound Devices Market: Key Trends
The global ultraportable ultrasound devices market is primarily driven by rigorous technological advancements, increasing preference for ultrasound devices with portability, and rising demand for data storage and data sharing to remote locations. On the other hand, the global ultraportable ultrasound devices market is likely to be hampered by stringent regulatory landscape and intellectual property right (IPR) laws. Furthermore, threat of hacking and data security issues are other prominent factors likely to restrain the global ultraportable ultrasound devices market in the near future. On the other hand, increasing research and development expenditure by major companies and strategic alliances among key players are projected to provide a lucrative opportunity to the global ultraportable ultrasound devices market during the forecast period.
Global Ultraportable Ultrasound Devices Market: Segmentation
The global ultraportable ultrasound devices market can be segmented based on application, mode, and end-user. Based on mode, the market can be classified into M-mode, B-mode, and others. In terms of application, the market can be classified into anesthesia, clinical research & emergency medicine, breast application, orthopedic & sports medicine, obstetrics & gynecology, pain management, veterinary, and others. In terms of end-user, the global ultraportable ultrasound devices market can be classified into hospitals & ambulatory surgery centers, diagnostic centers, and others.
Global Ultraportable Ultrasound Devices Market: Regional Analysis
Geographically, the global ultraportable ultrasound devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe held a major share of the global ultraportable ultrasound devices market in 2018, owing to technological advancements and availability of reimbursements in these regions. In October 2017, Sonoscanner obtained FDA approval for U-Lite Exp in the U.S. The ultraportable ultrasound devices market in Asia Pacific is anticipated to expand at the maximum CAGR during the forecast period, owing to developing healthcare infrastructure in China and India and increasing rate of adoption of ultraportable ultrasound devices in Asia Pacific. On the other hand, the ultraportable ultrasound devices market in Latin America and Middle East & Africa is estimated to be hampered by feeble health care infrastructure and less technological advancements in these regions.
Global Ultraportable Ultrasound Devices Market: Competitive Landscape
Key companies operating in the global ultraportable ultrasound devices market are Clarius, Sonoscanner, Koninklijke Philips N.V., UNIVERSAL SOLUTIONS, INC, Canon Medical Systems, and GENERAL ELECTRIC COMPANY.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold 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.