by John R. Fischer
, Senior Reporter | October 09, 2017
The handheld ultrasound scanners market
is predicted to reach $725 million
by the end of 2027
The handheld ultrasound scanners market is expected to reach $725 million by the end of 2027.
A report by Future Market Insights (FMI) says the trends in imaging technology and the health care industry will fuel the rise in value from its current figure of around $311 million at a compound annual growth rate (CAGR) of 8.8 percent, with the increase impacting value among regional markets, modality and display types, and end users.
Growth in the market has remained steady since 2012 with rises in value influenced by factors such as technological advancements in medical imaging devices, increasing use of ultrasound scanners among non-radiologists, a rising prevalence of chronic disorders, and changes in health care expenditure, patterns and investment.
North America is projected to dominate it with a CAGR of 9.5 percent, reaching $330 million by the end of 2027. Asia-Pacific countries, including Japan, will follow behind it.
Modality type will also be affected, with wireless scanners experiencing the fastest growth at a CAGR of 10.1 percent. Wired scanners, though, will be ahead in the global market, with strong market value at the end of the forecast period. The color display segment will reach $460 million at a CAGR of 9.5 percent and exhibit a high market attractiveness index of 1.3.
Hospitals will experience the most growth out of all end users, obtaining a value of $280 million with a CAGR of 9.3 percent.
The growth of global handheld ultrasound scanners is constrained by challenges, such as limited research and development in specific areas, rising consumption tax, lack of skilled professionals, non-standardized pricing and counterfeiting of medical devices.
Many companies and organizations produce and test handheld ultrasounds for a variety of purposes. Clarius
, for instance, recently introduced a handheld scanner that provides point-of-care ultrasound scans in severe environments. Two recent studies also identified the Rivanna Accuro automatic spinal navigation system
, a handheld spinal ultrasound, as effective for epidural needle placement.
The report also includes key players involved in the daily operations of handheld ultrasound scanners, such as Koninklijke Philips N.V., GE Healthcare, Fujifilm SonoSite Inc., and Clarius Mobile Health.