Indonesia, Philippines, Thailand, Singapore, Malaysia Point-Of-Care Ultrasound Systems (POCUS) Market, By Product Type (2D Systems, 3D/4D Systems, B/W Ultrasound System, Color Doppler System, Spectral Doppler System, and Elastography System), Modality (Trolley/Cart-Based Ultrasound System (Console) and Handheld Ultrasound System (Compact)), Application (Radiology/General Imaging, Obstetrics/Gynecology, Cardiology, Urology, Vascular Imaging, Orthopaedic and Musculoskeletal, Pain Management, Hepatology, Neurology, Breast Imaging, Anesthesiology, Emergency Care, Critical Care, and Other Applications), End User (Hospitals, Diagnostic Centres, Ambulatory Care Centres, and Others), Distribution Channel (Direct Tender, Retail Sales, and Others) -Industry Trends and Forecast to 2030.
Indonesia, Philippines, Thailand, Singapore, Malaysia Point-Of-Care Ultrasound Systems (POCUS) Market Analysis and Insights
Indonesia, Philippines, Thailand, Singapore, Malaysia point-of-care ultrasound systems (POCUS) market is driven by factors such as the high prevalence of chronic diseases, and increasing approval of new diagnostics products among others that are driving the market growth. Technological developments in POCUS can act as an opportunity for market growth. Currently, rising healthcare expenditure and growth of the pharmaceutical market are also expected to propel the market growth.
Indonesia, Philippines, Thailand, Singapore, Malaysia point-of-care ultrasound systems (POCUS) market is supportive and aims to reduce the progression of the disease. Data Bridge Market Research analyzes that Indonesia, Philippines, Thailand, Singapore, Malaysia point-of-care ultrasound systems (POCUS) market will grow at a CAGR of 5.9% during the forecast period of 2023 to 2030.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Year
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2021
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Quantitative Units
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Revenue in USD Million, Pricing in USD
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Segments Covered
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By Product Type (2D Systems, 3D/4D Systems, B/W Ultrasound System, Color Doppler System, Spectral Doppler System, and Elastography System), Modality (Trolley/Cart-Based Ultrasound System (Console) and Handheld Ultrasound System (Compact)), Application (Radiology/General Imaging, Obstetrics/Gynecology, Cardiology, Urology, Vascular Imaging, Orthopaedic and Musculoskeletal, Pain Management, Hepatology, Neurology, Breast Imaging, Anesthesiology, Emergency Care, Critical Care, and Other Applications), End User (Hospitals, Diagnostic Centres, Ambulatory Care Centres, and Others), Distribution Channel (Direct Tender, Retail Sales, and Others)
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Countries Covered
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Indonesia, Philippines, Thailand, Singapore, and Malaysia
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Market Players Covered
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Koninklijke Philips N.V., ESAOTE SPA, SAMSUNGHEALTHCARE.COM, CANON MEDICAL SYSTEMS CORPORATION, Siemens Healthcare GmbH, General Electric Company, FUJIFILM Asia Pacific Pte. Ltd., Shenzhen Biocare Bio-Medical Equipment Co., Ltd., Clarius, PT. Surya Tama Medika, Prunus, BenQ Medical Technology, Dawei, AMD Global Telemedicine, HIMEX Corporation, SternMed GmbH, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., and Konica Minolta, Inc. among others
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Market Definition
Point-of-Care Ultrasound (POCUS) refers to the practice of trained medical professionals using ultrasound to diagnose problems wherever a patient is being treated, whether that is in a modern hospital, an ambulance, or a remote village.
Ultrasound imaging devices can be defined as devices that use high-frequency sound waves to take a picture of the inside of the body. The technique used by ultrasound devices is known as the ultrasound imaging technique. These devices can produce images of the body part in real-time and can show the body movement. These devices consist of a transducer or probe and an ultrasound scanner. The transducer probe is placed on the skin, inside an opening or body part directly. The device shows the image when a thin layer of gel is applied to the skin on which the transducer moves. The image is produced by the device based on the reflection of waves on a particular body structure or organ. Ultrasound imaging devices have a broad range of applications in the diagnosis of ailments along with therapeutic uses. The application area of these devices includes general imaging, cardiovascular, urology, critical care, emergency departments, and cancer among others. These devices can also be used in pain reduction therapies for conditions such as osteoarthritis and sprains.
Indonesia, Philippines, Thailand, Singapore, Malaysia Point-Of-Care Ultrasound Systems (POCUS) Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints, and challenges. All of these are discussed in detail below:
DRIVERS
- Increased demand for diagnosis
With the increase in the successful diagnosis of chronic diseases including stomach cancer and others, improved healthcare professionals and regular training sessions for the professionals for conducting tests accounted for the improvement of diagnosis rate in the region. With the increase in the burden of diseases, the diagnosis rate is also increasing. With the improvements in the diagnosis, the rate of people going through diagnoses such as ultrasound is also growing.
Healthcare IT also has the potential and they are putting in efforts that are enhancing the rate of seeking, and they also have the capability to reduce the POCUS errors. It also helps in detecting the risks associated with the point-of-care diagnostic process and also helps in determining the range of the problem. Healthcare IT vendors also share and conduct to share the user experiences. This will help in evaluating the consequences of diagnostic errors, which is helping in improving the rate of diagnosis in the countries.
- Increasing prevalence of chronic diseases
Chronic diseases like heart disease, cancer, and diabetes are the leading causes of death and disability across Indonesia, Philippines, Thailand, Singapore, and Malaysia. As chronic diseases limit the activities of daily living, they require medical attention. The technology of ultrasound imaging with ever-increasing advancement helps in the detection and diagnosis of various diseases. The prevalence of infectious and chronic diseases such as cancer, diabetes, and cardiovascular disorder is rapidly increasing across Indonesia, Philippines, Thailand, Singapore, and Malaysia. Chronic diseases are caused due to various risk behaviors like poor nutrition, excessive alcohol consumption, tobacco use, and lack of physical activity. According to the World Health Organization (WHO), the contribution of chronic diseases was about 60% which accounted for the number of deaths. In Indonesia, Philippines, Thailand, Singapore, Malaysia, the major reason behind the increasing number of chronic diseases is the continuous increase in the geriatric population. These increasing rates of diseases are directly proportional to the growth of POCUS, as they are used in the diagnosis of almost all diseases.
Thus, the increasing prevalence of chronic conditions is expected to drive market growth.
OPPORTUNITY
- Rising awareness for early disease diagnosis and POCUS
Many chronic diseases have special examinations that can diagnose the disease while it is asymptomatic, with no signs or symptoms. Early disease detection may result in more cures or longer survival. This possibility has resulted in public health programs recommending that populations undergo periodic screening examinations for specific chronic diseases such as cancer, diabetes, cardiovascular disease, and so on.
There are several awareness programs arranged and planned by governments and other Non-Government Organizations (NGOs) to spread awareness about early disease diagnosis and its benefits, which creates the opportunity for segment growth.
RESTRAINT/CHALLENGE
- Stringent regulatory framework for approval and commercialization of POCUS
Stringent regulations for commercialization of any product in the market are acting as a big challenge for manufacturers of POCUS products that have their own regulations and have a different body for regulatory procedures.
Firstly, the manufacturers get the CE mark approval for their product for commercialization into the market, due to this stringent regulatory policies are expected to hinder the development of the market.
The regulatory requirements for approval of marketing or CE certification and application of laws & regulations could lead to making major changes in business or paying penalties, including the potential loss of business licenses. The resources and costs required to comply with these laws, rules, and regulations are high and this is expected to act as a challenge to market growth.
Post-COVID-19 Impact on Indonesia, Philippines, Thailand, Singapore, Malaysia Point-Of-Care Ultrasound Systems (POCUS) market
COVID-19 has positively affected market growth as there is a rise in the demand for products in the region. People have become more health conscious since the prevalence of various diseases in the region is also rising. Complications of other allergies due to aggravation are often seen and have become a problem. Hence, COVID-19 has positively impacted this market.
Recent Developments
- In August 2022, Mindray announced the release of the TE X Ultrasound System, a new product that is altering the landscape of the market. The technologically advanced system provides clinicians with the most comprehensive suite of Artificial Intelligence (AI)-powered Smart Tools available, and it is powered by Mindray's proprietary software-based beam former Zone Sonography Technology+ (ZST+). This new product features an industry-first wireless transducer that connects to the TE X System or can be used independently with a mobile device, as well as an unrivaled 23.8-inch rotatable, full touchscreen display that supports both landscape and portrait orientation for easy adaptability to any clinical environment.
Indonesia, Philippines, Thailand, Singapore, Malaysia Point-Of-Care Ultrasound Systems (POCUS) Market Scope
Indonesia, Philippines, Thailand, Singapore, Malaysia Point-Of-Care Ultrasound Systems (POCUS) market is categorized into five notable segments based on product type, modality, application, end user, and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
BY PRODUCT TYPE
- 2D SYSTEMS
- 3D/4D SYSTEMS
- B/W ULTRASOUND SYSTEM
- COLOR DOPPLER SYSTEM
- SPECTRAL DOPPLER SYSTEM
- ELASTOGRAPHY SYSTEM
Based on product type, the market is segmented into 2D systems, 3D/4D systems, B/W ultrasound system, color doppler system, spectral doppler system, and elastography system.
BY MODALITY
- TROLLEY/CART-BASED ULTRASOUND SYSTEM (CONSOLE)
- HANDHELD ULTRASOUND SYSTEM (COMPACT)
Based on modality, the market is segmented into trolley/cart-based ultrasound system (console) and handheld ultrasound system (compact).
BY APPLICATION
- RADIOLOGY/GENERAL IMAGING
- OBSTETRICS/GYNECOLOGY
- CARDIOLOGY
- UROLOGY
- VASCULAR IMAGING
- ORTHOPEDIC AND MUSCULOSKELETAL
- PAIN MANAGEMENT
- HEPATOLOGY
- NEUROLOGY
- BREAST IMAGING
- ANESTHESIOLOGY
- EMERGENCY CARE
- CRITICAL CARE
Based on application, the market is segmented into radiology/general imaging, obstetrics/gynecology, cardiology, urology, vascular imaging, orthopedic and musculoskeletal, pain management, hepatology, neurology, breast imaging, anesthesiology, emergency care, critical care, and other applications.
BY END USER
- HOSPITALS
- DIAGNOSTIC CENTERS
- AMBULATORY CARE CENTERS
- OTHERS
Based on end user, the market is segmented into hospitals, diagnostics centers, ambulatory care centers, and others.
BY DISTRIBUTION CHANNEL
- DIRECT TENDER
- RETAIL SALES
- OTHERS
Based on distribution channel, the market is segmented into direct tender, retail sales, and others.
Indonesia, Philippines, Thailand, Singapore, Malaysia Point-Of-Care Ultrasound Systems (POCUS) Market Regional Analysis/Insights
Indonesia, Philippines, Thailand, Singapore, Malaysia point-of-care ultrasound systems (POCUS) market is analyzed and market size insights and trends are provided by product type, modality, application, end user, and distribution channel as referenced above.
The countries covered in this market report are Indonesia, Philippines, Thailand, Singapore, and Malaysia.
Indonesia, Philippines, Thailand, Singapore, Malaysia point-of-care ultrasound systems (POCUS) market is expected to grow due to the rise in the incidence of chronic diseases. Moreover, rising healthcare expenditure and growth of the pharmaceutical market are also expected to propel market growth.
In 2023, Singapore is expected to dominate the market due to increased demand for POCUS usage which is anticipated to propel market growth.
The country section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as downstream and upstream value chain analysis, technical trends, porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and the challenges faced due to large or scarce competition from local and domestic brands, and the impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Indonesia, Philippines, Thailand, Singapore, Malaysia Point-Of-Care Ultrasound Systems (POCUS) Market Share Analysis
Indonesia, Philippines, Thailand, Singapore, Malaysia point-of-care ultrasound systems (POCUS) market competitive landscape provides details by the competitors. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies’ focus on the market.
Some of the major players operating in the market are Koninklijke Philips N.V., ESAOTE SPA, SAMSUNGHEALTHCARE.COM, CANON MEDICAL SYSTEMS CORPORATION, Siemens Healthcare GmbH, General Electric Company, FUJIFILM Asia Pacific Pte. Ltd., Shenzhen Biocare Bio-Medical Equipment Co., Ltd., Clarius, PT. Surya Tama Medika, Prunus, BenQ Medical Technology, Dawei, AMD Global Telemedicine, HIMEX Corporation, SternMed GmbH, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., and Konica Minolta, Inc. among others.
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