Global Portable Ultrasound Device Market Expected to Grow at 8.8% CAGR During 2016 – 2022

The global portable ultrasound device market was valued at $1,392.8 million in 2015, and it is expected to grow at a CAGR of 8.8% during 2016-2022. Based on type, the hand held segment is expected to witness the faster growth, CAGR 13.1%, during the forecast period.

The global portable ultrasound device market is growing at a significant rate, due to increasing healthcare expenditure, and growing geriatric population. The increasing prevalence of chronic diseases and improving healthcare infrastructure in developing countries are also driving the growth of the global portable ultrasound device market. However, the factor such as stringent regulatory requirements for the approval of portable ultrasound devices is inhibiting the growth of the global market.

Ultrasound is a sound with frequencies higher than about 20 kHz. It moves in a wavelike manner through which it travels. The waves travel with different speed in different medium. The medical ultrasound system operates at higher frequencies, typically 1-10 MHz. The ultrasound machine calculates the distance from probe to the tissue or organ, using the speed of the sound in the tissue and the time of the each echo returns. Portable ultrasound device is mainly used at point-of-care, as they are convenient to carry and are lighter and smaller.

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Geographically, Europe dominated the global market of portable ultrasound device in 2015; whereas the Asia-Pacific market is expected to witness the fastest growth, at a CAGR of 9.5%, during the forecast period.

Some of the key companies operating in the global portable ultrasound device market include Koninklijke Philips N.V., General Electric Company, Hitachi Ltd., Siemens AG, and FUJIFILM Holdings Corporation.