Handheld Ultrasound Devices Market Size, Share & Trends Analysis Report By End-use (Hospitals, Primary Clinics), By Application (Trauma, Urology), By Technology (3D/4D, 2D, Doppler), By Region, And Segment Forecasts, 2023 - 2030

Market Size & Trends

The global handheld ultrasound devices market size was estimated at USD 284.2 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.71% from 2023 to 2030. The market growth is driven by several factors, such as rapid advancements in healthcare technology and the increasing prevalence of chronic diseases, such as gastrointestinal, neurological, endocrine, cardiovascular diseases, and cancer, in older people. As per the ACS journal, in 2023, about 1,958,310 new cancer cases will be diagnosed in the U.S., and 609,820 cancer deaths are estimated to occur in the U.S. In addition, the growing demand for home healthcare equipment is fueling the market growth. Home ultrasound equipment can help individuals with chronic pain get some relief and hasten the healing process after an injury.

Homecare therapeutic ultrasound devices are easily accessible and often portable and handheld. Rapid technological advancements in handheld ultrasound systems are expected to enhance the diagnosis and treatment of various diseases, such as cardiovascular diseases and cancer. Rising demand for minimally invasive treatments and advancements in imaging devices, such as 3D and 4D image detailing, accelerated processing speed, automated workflow, and Point-of-Care (PoC) solutions, is expected to boost the adoption during the forecast period. Also, the demand for early diagnosis is increasing, leading to more patients opting for handheld ultrasound devices to obtain instant results.

For instance, in July 2023, Konica Minolta Healthcare Americas, Inc. launched PocketPro H2, a wireless handheld ultrasound machine designed for general radiology in PoC applications. Konica Minolta Healthcare collaborated with Healcerion to distribute PocketPro H2 in the U.S. for veterinary and human applications. Moreover, technological advancements in the market are expected to create lucrative growth opportunities in the forecast period. Several handheld ultrasound systems use AI software programs that perform calculations, such as ejection fraction and bladder volume assessment. With the help of image recognition software, structures can be automatically identified and labeled, and the quality of the images produced is continuously monitored.

The Kosmos device has telemetry leads that can be linked to the patient and do digital cardiac auscultation and image acquisition. This allows for integrating electrocardiogram results and rhythm interpretation into the ultrasound investigation. Most handheld ultrasound devices employ app-based smartphone technology, typically for Android or iOS, which reduces boot times and simplifies complex knobology into easy-to-learn finger swipes and taps, lowering the entry barrier for new users. Numerous handheld ultrasound devices include Health Insurance Portability and Accountability Act (HIPAA)-compliant cloud-based storage with an interface that fosters cooperation and prompt input from distant reviewers without needing middleware.

Powerful smart gadgets allow for remote guidance and tele-ultrasound straight from the device without additional apparatus. In addition, the introduction of novel handheld ultrasound systems is fueling market growth. Due to their portability, ease of use, PoC accessibility, simplified user-friendly controls, and improved image quality with various technologies, such as Doppler imaging. Key and emerging players are developing handheld devices to cater to the market demands. For instance, in February 2023, Shenzhen Mindray Bio-Medical Electronics Co., Ltd. introduced a new handheld ultrasound system, TE Air. It is a compact-sized device with a wire-free design that fits in the pocket, flexible charging for extreme mobility, and high-level disinfection tolerance.

Technology Insights

The 3D/4D ultrasound segment dominated the market with the highest revenue share of around 46.31% in 2022, and it is expected to grow at the highest compound annual growth rate (CAGR) of 6.13% from 2023 to 2030. 3D and 4D handheld ultrasound devices are widely used in cardiovascular monitoring to determine blood flow through arteries and veins. In addition, 3D/4D units are increasingly being used in breast imaging for breast cancer screening, as they provide better visualization of the coronal plane. Therefore, the growing prevalence of cancer is likely to boost the demand for 3D/4D handheld ultrasound devices. For instance, as per the American Cancer Society Journal published in January 2023, about 1,958,310 new cases will be estimated for cancer in the U.S. in 2023. Also, 3D/4D ultrasound imaging is gaining acceptance in obstetrics/gynecology. These factors are expected to propel the handheld ultrasound device market in the forecast period.

The 2D ultrasound segment is expected to grow at a significant CAGR of 5.82% from 2023 to 2030. The demand for 2D handheld ultrasound is primarily attributed to its easy user interface and affordable cost. 2D handheld ultrasound devices are more commonly used in obstetrics, cardiology, and women's health. 2D handheld ultrasound devices create black-and-white images that show the baby's skeletal structure and make internal organs visible. The frequent launch of new products that offer improved imaging, workflow, and ergonomic capabilities is anticipated to drive this segment. For instance, in August 2023, Siemens Healthineers introduced a dedicated cardiovascular ultrasound system with 2D HeartAI and 4D HeartAI robust artificial intelligence (AI) features.

Application Insights

Based on application, the musculoskeletal segment dominated the market with a revenue share of 21.34% in 2022. The identification, highlighting, and measurement of tendon structures in the foot, ankle, and knee are done automatically by an Artificial Intelligence (AI) used for musculoskeletal (MSK) imaging that operates with handheld point-of-care ultrasound devices. Technological advancements in products and the launch of novel products by industry key players are boosting the industry's growth. GE HealthCare's Vscan Air offers simple patient imaging at the point of care. It assesses diseases, such as joint effusion, tendon and ligament injuries, bone fractures, and inflammation (tendonitis) across the MSK system of the body. MSK ultrasound is utilized with Vscan Air to support injury identification and guided interventions in clinics, radiology, sports medicine, outpatient settings, or everywhere necessary.

The trauma segment is expected to grow at the highest CAGR of 6.60% from 2023 to 2030. Trauma physicians use point-of-care ultrasonography (POCUS) as a helpful imaging method. Rapidly identifying injuries that threaten life and necessitate action is made possible by ultrasonography. A few ultrasound applications in the trauma department include obstetrics, soft tissue/MSK, abdominal ultrasonography of the right upper quadrant and appendix, and testicular and ocular ultrasonography. When traditional diagnostic techniques either take too long or put a person in more danger, ultrasonography is utilized to quickly diagnose a small number of injuries or pathologic diseases in the emergency medicine department.

End-use Insights

The hospital segment held the largest revenue share of 41.93% in 2022. This growth can be attributed to the higher number and type of ultrasound studies performed in hospitals than in any other healthcare setting. On average, a hospital may require at least three ultrasound scanners one dedicated to general radiology, one for obstetrics and gynecology, and one for cardiac scanning. Also, the increasing number of private hospitals to address the growing burden of chronic illness is expected to drive the demand for handheld ultrasound devices. On the other hand, handheld ultrasound is becoming one of the key diagnostic tools during emergency visits and bedside monitoring.

In October 2020, GE Healthcare partnered with St. Luke’s University Health Network-a nonprofit, fully integrated, regional, nationally recognized network providing services at 12 hospitals-to install 76 ultrasound systems. The primary clinics segment is expected to grow at the highest CAGR of 6.72% from 2023 to 2030. In primary care, POCUS has been shown to increase the physician’s ability to detect heart failure accurately, improving management. It was also more sensitive to identifying pneumonia than the combined chest X-ray and clinical examination. POCUS is the benchmark of care for procedural guidance and enables the clinician to quickly recognize a variety of life-threatening entities and guide the management of hemodynamically unstable patients.

Regional Insights

North America dominated the global market in 2022 with the largest share of around 29.11% by revenue. This can be ascribed to factors, such as the increased use of ultrasound technology in primary care settings, easy accessibility, and high healthcare spending in countries with effective reimbursement policies. The growing incidence of chronic disorders in this region, including breast cancer, cardiovascular disorders, and neurological diseases, has created a high demand for imaging analysis. The region is expected to maintain its dominance over the forecast period. Technological innovations and the growing incidence of chronic conditions are anticipated to propel the handheld ultrasound device market in the region.

For instance, according to Breastcancer.org, in 2023, 297,790 new cases of invasive breast cancer are estimated to be diagnosed in the U.S. Asia Pacific is expected to grow at the highest CAGR of 6.37% from 2023 to 2030. This can be attributed to the rapid growth of the population and increased RandD activity in this region. Also, there is a high need for traditional and advanced devices in Asia Pacific. In addition, a large population with low per capita income in Asia Pacific countries has led to a high demand for affordable treatment options. Multinational companies are eager to invest in developing economies, such as Japan, India, and China.

Thus, many market players are entering into collaborative partnerships and strategic alliances with local players. This is anticipated to boost the market during the forecast period. For instance, in May 2023, Philips and Wuxi CHISON Medical Technology Co., Ltd. entered into a partnership agreement. The companies agreed to offer domestic ultrasound technology to Chinese clients for a larger range of care settings while concentrating on local clinical demands.

Key Companies & Market Share Insights

The competitors in the market are involved in developing and launching new products. Also, they are focusing on forming strategic partnerships with the major players to strengthen their presence in the market. For instance, in May 2023, CHISON Medical Technologies Co., Ltd. introduced the CHISON SonoFamily, which consists of SonoMax, SonoAir, and SonoEye, revolutionizing the ultrasound imaging market by offering patients and medical professionals more sophisticated, intelligent, and all-encompassing imaging solutions. Also, in April 2023, Butterfly Network, Inc. announced that its AI-enabled lung tool, the Auto B-Line Counter, received FDA clearance.

The tool uses deep learning technology to help medical practitioners diagnose abnormal lung issues more quickly, conveniently, and confidently. Also, in January 2023, Konica Minolta Healthcare Americas, Inc. introduced a novel cordless handheld ultrasonic device called the PocketPro H2 for application in point-of-care settings for general screening. With the PocketPro H2 offering an entirely novel form of versatility and relatively lower cost in ultrasound imaging, Konica Minolta Healthcare teamed up with Healcerion to offer it across the U.S. for human and animal applications. Some prominent players in the handheld ultrasound devices market include:

• GE HealthCare

• Koninklijke Philips N.V.

• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

• BenQ Medical Technology

• CHISON Medical Technologies Co., Ltd.

• Dawei Medical (Jiangsu) Corp., Ltd.

• Viatom Technology Co., Ltd.

• Telemed Medical Systems S.r.l.

• Butterfly Network, Inc.

• Pulsenmore Ltd.

• Leltek Inc.

Handheld Ultrasound Devices Market Report Scope

Global Handheld Ultrasound Devices Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global handheld ultrasound devices market report based on technology, application, end-use, and region:

• Technology Outlook (Revenue, USD Million, 2018 - 2030)

  • 2D Ultrasound

  • 3D/4D Ultrasound

  • Doppler Ultrasound

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Obstetrics/Gynecology

  • Cardiovascular

  • Urology

  • Gastroenterology

  • Musculoskeletal

  • Trauma

  • Others

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals

  • Primary Clinics

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • Norway

    • Denmark

    • Sweden

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East & Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait