Handheld Ultrasound Scanners Market

Handheld Ultrasound Scanners Market, 2020-2030

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I believe that adoption of handheld ultrasound imaging devices can lead to about 10% enhancement in physicians' / radiologists' efficiency, thereby allowing them to perform more scans in a single day

-- CEO, a Germany-based small-sized company

Handheld Ultrasound Scanners Market Overview

The handheld ultrasound scanners market is estimated to be worth $404 million in 2020 and is expected to grow at compounded annual growth rate (CAGR) of 11% during the forecast period. Since the discovery of ultrasound, the field of medical imaging has evolved significantly, offering non-invasive means for physicians to accurately visualize almost all major organ systems for diagnostic purposes. However, conventional medical imaging solutions are severely limited in terms of mobility, throughput and are usually dependent on stationary power sources. As a result, they are impractical in situations characterized by low physician / pathologist to patient ratios. There is, therefore, an urgent need for solutions that can increase diagnosis efficiency in order to relieve the overly-burdened global healthcare system.

Handheld ultrasound imaging devices are lightweight, mobile or portable devices / scanners, which are designed for diagnostic purposes. The applications of such devices in modern healthcare are vast, spanning almost all major medical disciplines, such as abdomen, cardiology, gynecology, musculoskeletal, obstetrical, orthopedics, pediatrics and urology. In this context, it is worth mentioning that multiple studies have recently described the use of handheld ultrasound scanners in diagnosing individuals suspected of having contracted the novel coronavirus (COVID-19). Considering the lack / scarcity of confirmatory tests, these devices have proven useful in quarantining those who displayed pleural wall thickening and lung congestion, a characteristic of pneumonia.

Presently, a number of handheld ultrasound scanner are available in the market, and several device developers are engaged in efforts to further improve their products, incorporating features, such as customized software and mobile applications (designed to display / analyze scanned images), advanced safety provisions, remote patient monitoring and other smart functions. However, a significant proportion of medical professionals have limited, or no, access to these handheld ultrasound scanner. This, coupled to the fact that nearly 40% of handheld ultrasound scanners in resource-deprived countries are reportedly not fully functional, is an impediment to healthcare. It is also important to note that the cost of handheld / portable scanners is significantly lower than their counterparts. For instance, Butterfly iQ is a handheld ultrasound scanner that is available at merely 2% of the cost of a traditional ultrasound machine (USD 100,000). In future, such devices are anticipated to become more popular and eventually replace bulky, traditional medical imaging machines. In fact, the increasing interest in point of care diagnostics is anticipated to create lucrative opportunities for stakeholders engaged in handheld ultrasound scanners market and the market likely to witness substantial market growth during the forecast period.

This image highlights the context of Global Handheld Ultrasound Imaging Devices Market report. Advances in the field of disease diagnostics have led to a substantial increase in the development of point-of-care medical imaging devices; handheld ultrasound scanners have emerged as a novel solution to cater to the unmet need in this domain This image provides list of Handheld Ultrasound Imaging Devices. Several players are currently engaged in the development / manufacturing of point-of-care handheld ultrasound scanners that offer a variety of imaging modes to produce high-quality diagnosis images This image presents current market landscape of Handheld Ultrasound Devices. Around 100 handheld ultrasound imaging devices, incorporating different transducer arrays and advanced software, are being actively used by physicians to scan different body parts

Key Companies in Handheld Ultrasound Scanners Market

Examples of key companies engaged in handheld ultrasound scanners market (which have also been profiled in this market report; the complete list of companies is available in the full report) include Butterfly Network, Clarius Mobile Health, EchoNous, Fujifilm, GE Healthcare, Philips and WuHan Youkey Bio-Medical Electronics. This market report includes an easily searchable excel database of all the companies providing handheld ultrasound scanners, worldwide.

Recent Developments in Handheld Ultrasound Scanners Market

Several recent developments have taken place in the field of handheld ultrasound scanners market. We have outlined some of these recent initiatives below. These developments, even if they took place post the release of our market report, substantiate the overall market trends that have been outlined in our analysis.

  • In September 2023, Mindray launched TE Air Wireless Handheld Ultrasound, a new imaging solution, that improves ultrasound accessibility. This enables healthcare professionals to carry comprehensive scanning capabilities in their pockets, adapting to a wide array of clinical scenarios. 
  • In August 2023, GE HealthCare launched Vscan Air SL, a wireless handheld ultrasound device, utilized for rapid assessments of cardiac and vascular patients. 
  • In July 2023, Konica Minolta Healthcare launched a wireless handheld ultrasound for high-quality, point-of-care imaging applications.

Scope of the Handheld Ultrasound Scanners Market Report

The “Handheld Ultrasound Scanners Market, 2020-2030” market report features an extensive study of the current market landscape, market size, market share, market growth, market trends, market value, market forecast, market outlook, statistics and future opportunities of the handheld ultrasound scanners market. The market research report features an in-depth analysis, highlighting the capabilities of various stakeholders engaged in handheld ultrasound scanners market.

This image highlights the geographical distribution of Handheld Ultrasound Imaging Device Developers. Companies engaged in the development of handheld ultrasound imaging devices are spread across the globe; further, a number of start-ups have taken initiatives to offer novel scanners This image highlights competitive analysis and brand positioning of Handheld Ultrasound Imaging Devices. Stakeholders have established strong brand positions in different geographies; in future, such companies with competitive edge are anticipated to contribute the most to the overall revenue generation potential This image highlights the partnership activity undertaken by players engaged in Handheld Ultrasound Imaging Devices Market. The growing interest in this field is reflected by the increased partnerships, involving both international and indigenous stakeholders, across different geographical marketplaces

In addition to other elements, the market research report includes:

  • An overview of the current market landscape of the handheld ultrasound imaging devices, providing information on the status of development, application area (abdomen, cardiac, gynecological, pulmonary, urological scanning and others), weight of device, type of transducer array (convex / curved, linear, micro-convex, transvaginal, phased and others), transducer frequency, mode of imaging (brightness, color doppler, motion, power doppler, pulsed wave, tissue harmonic and others), field of view, scanning depth, type of software (smartphone application and customized software application), connectivity provision (universal serial bus (USB), cellular / WiFi and bluetooth), data management feature(s) (internal, external, and cloud / remote monitoring), battery backup and cost of device. In addition, it presents details of the device developers, highlighting year of establishment, company size, type of business model used (B2B and B2C), target market (domestic and domestic and international) and location of headquarters. Further, it highlights the key initiatives taken by the various device developers to tackle the on-going global pandemic of COVID-19.
  • An in-depth analysis of the contemporary market trends, presented using four schematic representations, including [A] a bubble analysis comparing the leading players engaged in the development of handheld ultrasound imaging devices, based on the parameters, such as application area, mode of imaging, number of devices and company size, [B] a grid representation illustrating the distribution of scanners based on application area, type of transducer array and type of software, [C] an insightful heat map representation, highlighting the distribution of devices on the basis of application area and mode of imaging, and [D] a tree map representation of the handheld ultrasound imaging devices, distributed on the basis of mode of imaging and connectivity provision. 
  • Elaborate profiles of mid-sized / large companies that are engaged in the development of handheld ultrasound imaging scanners. Each company profile features a brief overview of the company (with information on year of establishment, number of employees, location of headquarters and key members of the executive team), details of their respective product portfolio, recent developments and an informed future outlook
  • A detailed brand positioning analysis of key industry players, highlighting the current perceptions regarding their proprietary brands by taking into consideration several relevant aspects, such as strength of product portfolio, type of software, mode of imaging, connectivity provisions,  geographical presence / reach and supplier power of each company.
  • An analysis of the partnerships that have been inked by stakeholders in handheld ultrasound scanners market, during the time period 2010-2020 (till April), covering licensing agreements, acquisitions and mergers, research and development agreements, product distribution agreements and other relevant types of deals 
  • An insightful analysis highlighting cost saving potential associated with the use of handheld ultrasound imaging devices, based on information from close to 50 countries, taking into consideration various parameters, such as total number of radiologists, annual salary, number of ultrasound scans performed and increase in efficiency by adoption of these handheld ultrasound imaging devices.
  • An informed estimate of the global demand for handheld ultrasound imaging devices for the period 2020-2030, taking into account the impact of COVID-19, historical sales of these devices, and annual revenues (generated by sales of these devices) of prominent device manufacturers
  • A review of the product distribution strategies adopted by different end-users, demand and market attractiveness for handheld ultrasound imaging devices across different types of end-users, including ambulatory surgical centers, diagnostic imaging centers, hospitals, maternity clinics, specialty clinics and others.
  • An insightful discussion on the impact of COVID-19 on the overall handheld ultrasound imaging devices market, along with the key lessons learnt from big pharma players in 2008 recession.
  • An informative analysis of contemporary Google Trends in the time period between 2015 and 2020 (till July) and insights from the recent news articles related to handheld ultrasound imaging devices, indicating the increasing popularity of handheld ultrasound scanners market.

    
The key objective of handheld ultrasound scanners market report is to provide a detailed market analysis in order to estimate the existing market size, market share, market growth, market trends, market value, market forecast, market outlook, statistics and future opportunity for handheld ultrasound scanners market during the forecast period. Based on the demand, likely adoption, and expected price variations for these devices, we have provided an informed estimate of the evolution of the market for the forecast period 2020-2030. The market report also features the likely distribution of the current and forecasted opportunity within handheld ultrasound imaging devices market across [A] application area (cardiac, emergency medicines, gynecological / obstetrics, musculoskeletal, pulmonary, urological, vascular and other application areas), [B] type of transducer array (curved, endocavity, linear, phased and other scanners), [C] type of software (smartphone application and customized software-based scanners), [D] end-users (ambulatory surgical centers, diagnostic imaging centers, hospitals, maternity clinics, specialty clinics and other end-users), and [E] key geographical regions (North America, Europe and Asia-Pacific and rest of the world). In order to account for future uncertainties and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s growth.

This image highlights the cost saving analysis for Handheld Ultrasound Imaging Devices. Owing to the ease of handling, better image visualization and remote data transmission features, these devices can significantly enhance a radiologists’ efficiency, demonstrating the potential to save the overall healthcare cost This image provides details on the annual demand for Handheld Ultrasound Imaging Devices. Future growth of the market is likely to be driven by increased demand for these devices; novel transducers and advanced software-based scanners offer lucrative market opportunities Handheld-Ultrasound-Scanners-Market-Distribution-Roots-thumb

The opinions and insights presented in the market report were influenced by discussions held with senior stakeholders in the industry. The market research report features detailed transcripts of interviews held with the following industry stakeholders:

  • Stefan Maas (Chief Executive Officer, SomaView)
  • Colin Finlayson (Chief Operating Officer, Ballater Medical)
  • Anais Concepcion (Director of Content and Digital Campaigns, EchoNous)
  • Zhengzheng Zhu (International Business Development, PeakSonic)

All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this market research report are in USD, unless otherwise specified.

Frequently Asked Questions

Question 1: What are handheld ultrasound scanners?

Answer: Handheld ultrasound scanners are novel imaging devices incorporated with features, such as customized software and mobile applications (designed to display / analyze scanned images), advanced safety provisions, remote patient monitoring and other smart functions.

Question 2: How big is the handheld ultrasound scanners market?

Answer: The handheld ultrasound scanners market size is estimated to be worth $404 million in 2020.

Question 3: What is the projected market growth of the handheld ultrasound scanners market?

Answer: The handheld ultrasound scanners market is expected to grow at compounded annual growth rate (CAGR) of 11% during the forecast period 2020 – 2030.

Question 4: Who are the leading players in the handheld ultrasound scanners market?

Answer: Examples of key companies engaged in handheld ultrasound scanners market (which have also been profiled in this market report; the complete list of companies is available in the full report) include Butterfly Network, Clarius Mobile Health, EchoNous, Fujifilm, GE Healthcare, Philips and WuHan Youkey Bio-Medical Electronics.

Question 5: How many devices are currently offered by the companies engaged in handheld ultrasound scanners market?

Answer: Close to 100 devices are currently offered by the players engaged in handheld ultrasound scanners market enabling patients to scan different body parts independently.

Question 6: What are the advantages of handheld ultrasound scanners?

Answer: Handheld ultrasound scanners are portable and cost effective, enabling healthcare professionals to replace conventional bulky imaging devices. Moreover, these devices provide an improved efficiency with increased number of scans per day.

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