Market Trends of North America Ultrasound Devices Industry
This section covers the major market trends shaping the North America Ultrasound Devices Market according to our research experts:
Portable Ultrasound Segment is Expected to Witness a Healthy Growth Over the Forecast Period
Portable ultrasound devices are mobile ultrasound systems designed for use in small spaces, such as points of care and beside hospital beds. It can be cart-based, tablet-based, or hand-carried. Portable ultrasound units are becoming standard equipment in many clinics, affording easy access to this imaging modality.
The growth of the segment is owing to the significant technological advancements in the development of various portable or hand-held ultrasound devices, rising cases of chronic diseases, and a wide range of applications with added advantages, which are the major factors propelling the segment's growth over the forecast period. For instance, in August 2021, EchoNous scaled up the production of its portable ultrasound platform with a full-body probe after getting approval from the United States Food and Drug Administration. Lexa, an ultrasound probe, was designed specifically for the Kosmos platform, the first hybrid point-of-care ultrasound (POCUS) tool. Hence, with such new product launches in the United States, the segment is expected to witness strong growth in the forecast period.
Furthermore, increasing strategic movement by the key companies operating in the portable ultrasound business is contributing to segment growth in the North American region. EagleViewUltrasound, for example, launched its first portable doppler ultrasound in January 2022, allowing clinicians to quickly access ultrasound images at any time, easing point-of-care diagnosis.Such launches will open opportunities for market growth due to the rise in the adoption of portable ultrasound devices for easy diagnosis.
Because of this, the segment is expected to grow at a fast rate over the next few years, thanks to improvements in technology and strategic moves by key companies.
The United States is Expected to Hold a Significant Share in the Market Over the Forecast Period
Over the forecast period, the United States is expected to hold a significant share of the overall North American ultrasound devices market. The growth is due to factors such as rising cases of chronic diseases, technological advancements, key product launches, a high concentration of market players' or manufacturers' presence, and acquisitions and partnerships among major players.
The increasing number of hospitals operated by private players in the United States is propelling the growth of the market. According to the American Hospital Association Statistics Report, in 2021, there were 2,946 nongovernment, not-for-profit community hospitals, and this number increased to 2,960 in 2022. The increased number of hospitals creates a demand for medical devices such as ultrasound, which is expected to drive market growth.
Furthermore, product launches and partnership deals among major players are anticipated to drive the market in the country. For example, in May 2022, Butterfly Network announced that it had signed a deal with the Medical University of South Carolina (MUSC) to provide its point-of-care ultrasound devices and software to the organization, which includes its medical school, research facilities, and 14 hospitals.
Because of this, the studied market is expected to grow in the United States because there are more and more hospitals and more and more ultrasound devices are coming out.
