Portable Ultrasound Devices Market Size

Portable Ultrasound Devices Market size was valued at USD 2.2 billion in 2023 and is estimated to reach USD 4.5 billion by the end of 2036, growing at a CAGR of 5.6% during the forecast period, i.e., 2024-2036. In 2024, the industry size of portable ultrasound devices is estimated at USD 2.34 billion.

The growth of the portable ultrasound devices market can be attributed to the increasing number of chronic illnesses like cancer, pulmonary fibrosis (COPD), arthritis, and other conditions across the globe. According to estimates from the American Cancer Society for 2022, stomach cancer accounts for around 1.5% of all newly diagnosed malignancies in the U.S. annually. The prevalence of these diseases over the years has resulted in a growing need for surgical interventions, including ultrasound devices for early detection and diagnosis.

Several businesses, including GE Healthcare, Philips, MinXray, and others, are adopting strategic alliances such as partnerships, joint ventures, mergers and acquisitions, and product launches to enhance their product base and maintain their dominance in the market. In November 2023, MinXray introduced a cordless handheld ultrasound gadget. Doctors found this gadget useful for a variety of tasks, including obstetrics examinations, mass evaluations, home health screenings, and blood flow velocity measurements.