Beijing Konted Medical Technology Co.,Ltd.

Portable Ultrasound Market Is Booming

Since the advent of B-type ultrasonic diagnostic instrument in 1950s, it has played an important role in clinical diagnosis because of its simplicity and reliability. At present, B ultrasound is widely used in obstetrics and gynecology, urology and other departments, in order to diagnose various organs < (such as liver, bile, kidney, bladder and prostate, etc.) diseases and check fetal development. In recent years, B-ultrasound has also been extended to the diagnosis of heart disease, swelling of skin tissue, post-organ transplant conditions, pain and infection judgment and other new uses. It can be seen that B ultrasound has become an indispensable diagnostic instrument and effective helper in the clinical medical field.


The Expansion Of The Portable Ultrasound Market Size

In this century, the convenient and easy to use portable B-ultrasound instrument gradually replaced the heavy and expensive fixed type B-ultrasound instrument, and became one of the best-selling products in the world medical device market. With the new medical software combined with a laptop and a probe, it can be used to do a variety of B-ultrasound three-dimensional examinations.

According to US consulting firm BUSINESS WIRE, the global portable B-ultrasound market has seen an average annual growth rate of 22% in the five years since 2016, much higher than the annual growth rate of other medical devices. In 2018, the global market size of portable B-ultrasound products has reached 3.036 billion US dollars. Global sales of portable B-ultrasound products jumped 25% last year to more than $4.5 billion due to the COVID-19 pandemic. An organization predicts that the global portable B-mode ultrasound market will reach or even exceed 6.8 billion dollars by 2023. Portable B ultrasonic products in the international market prospects a good.

As recently as a decade ago, there were only a handful of major foreign companies producing portable B-ultrasound products, such as General Electric (GE), Philips, Siemens, Fujifilm and Boston Scientific. However, in recent years, more and more companies have joined the list of portable B-ultrasound products manufacturers, such as Samsung in South Korea, ESAOTE in Japan, ZONCARE in the United States, BenQ Medical Company, Mindray in Shenzhen, Wuxi Xiangsheng Medical and so on. The addition of these companies has not only promoted the rapid development of portable B-ultrasound technology in the world, but also greatly reduced the average selling price of products, thus making B-ultrasound available to more patients.

Although there are dozens of brands of portable B-mode ultrasound products in the international market, from the technical point of view, these products can be generally divided into two categories, namely handheld B-mode ultrasound and wheelbarrow B-mode ultrasound. These two kinds of products dominate the vast majority of the international portable B ultrasound market share. Data show that more than 2 million portable B-ultrasound devices were produced and sold worldwide in 2018-2019. By geography, North America (USA, Canada and Mexico) is the world's largest portable B-ultrasound market (approximately 35%), Europe is the second largest market (31%), Asia Pacific is the third largest market (18%), and the rest of the world accounts for the remaining 16% market share.


Prices Are Becoming More Affordable

Why have sales of portable ultrasound devices soared worldwide in the past seven or eight years? Some market analysts believe that the first is related to the growth of the global elderly population, which means that such people need more medical services, and B-ultrasound examination is one of the daily operations of hospitals; Second, price is at work. Compared with the cost of CT, MRI, PET and other expensive medical diagnostic instruments, B-ultrasound examination is more affordable and affordable for most patients. Third, the technical performance of the current B-ultrasound examination is greatly improved than that of a few decades ago, both image clarity and accuracy are trustworthy. Therefore, more and more hospitals are included in the scope of routine examination.

With more manufacturers of B-mode ultrasound into research and development production, the market price of the product has been declining year by year. About ten years ago, the international market price of a fixed type B ultrasound is usually about $100,000, and now a portable B ultrasound price is only $20,000 ~ $50,000, and our country produced portable B ultrasound has more obvious price advantage than similar products abroad. In contrast, hospitals in developing countries are more willing to choose inexpensive portable B-ultrasound as a common clinical diagnostic instrument for doctors. According to statistics, the sales of fixed type B ultrasound machine and portable type B ultrasound machine in the international market are almost even. However, analysts believe that because the fixed type B ultrasound machine is more expensive, the number of portable type B ultrasound sold is actually far more than that of fixed type B ultrasound. Of course, both have their own advantages, such as the image clarity and resolution of fixed ultrasound is better than that of portable ultrasound, which attracts doctors because of its low price, portability and convenience.

Statistics from the China Chamber of Commerce for Medical Insurance show that the total value of B-mode ultrasound products exported from China exceeded $200 million in 2020. The total production capacity of B-mode ultrasound machine in China is between 500,000 ~ 600,000 units, and the development momentum is fast. Many small companies that were not known before have certain B-mode ultrasound research and development strength. At present, the domestic B-mode ultrasound market is saturated, but the leading domestic companies are trying to develop other non-human diagnostic applications of B-mode ultrasound. It is reported that major domestic B-ultrasound machine manufacturers, including Xiangsheng Company, have developed a hand-held B-ultrasound machine for the diagnosis of dairy cow udder diseases several years ago. Some manufacturers have developed and marketed small handheld B-ultrasound machines for diagnosing diseases in pets such as cats and dogs, which are popular among users across the country after being introduced to the market. Therefore, as long as we find the right direction and "cultivate" the market, we can certainly develop marketable new B-mode ultrasound products.