The "Point-of-Care-Ultrasound Device Market Research Report: By Type, Portability, Application - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
As per a report by the publisher, the global point-of-care ultrasound devices market is predicted to reach a value of $4,494.4 million in 2030, rising from $2,096.6 million in 2019, progressing at a 7.4% CAGR during 2020-2030. A major factor leading to the growth of the market is the increasing number of investments that are being made in the healthcare sector by a number of countries.
As per the World Bank Group, the expenditure in the global healthcare sector rose from 8.6% in 2000 to 9.9% of the GDP in 2017. In addition to this, the rising prevalence of chronic disease and surging non-government and government initiatives for facilitating better treatment are also projected to result in the growth of healthcare expenditure, thereby driving the market. The coronavirus pandemic has, however, negatively impacted the market to some extent, and recovery is only expected to occur after the third quarter of 2020.
The European region dominated the point-of-care ultrasound devices market in 2019 due to the increasing prevalence of chronic diseases, technological advancements, and rising healthcare expenditure. As per the World Health Organization, cancer is the second major cause of morbidity and death in Europe, and account for about 1.9 million deaths every years. Therefore, the need for cost-effective and innovative diagnostic solutions, such as PoCUS devices, is increasing at a swift pace in the region.
Technological advancements in PoCUS devices
Surge in geriatric population
Increasing prevalence of chronic diseases
Increasing awareness about benefits of portable ultrasound devices
Increasing healthcare expenditure
Impact analysis of drivers on market forecast
Lack of skilled sonographers
Stringent regulatory norms
Impact analysis of restraints on market forecast
Improving healthcare infrastructure in emerging economies
Mindray Bio-Medical Electronics Co. Ltd.
General Electric Company
Fujifilm Holdings Corporation
Samsung Electronics Co. Ltd.
Koninklijke Philips N.V.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20201124005770/en/
Laura Wood, Senior Press Manager
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