Pramod Kumar

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What are Key Factors Fueling EU Point-of-Care Ultrasound Device Market Boom in Germany?

The European Union (EU) point-of-care ultrasound (PoCUS) device market is predicted to generate a revenue of $230.9 million by 2024. Furthermore, the market would advance at a CAGR of 6.1% between 2019 and 2024, as per the estimates of P&S Intelligence, a market research company based in India. The main factors driving the market advancement are the rising incidence of chronic diseases, the increasing geriatric population, and the ballooning public awareness of the various benefits of portable ultrasound devices.

Business impact of COVID-19 on

EUROPEAN UNION (EU)

POINT-OF-CARE ULTRASOUND (POCUS) DEVICE MARKET
Strategies of major industry competitors


The soaring population of geriatric people is a major factor fueling the expansion of the market. This is because of the huge requirement for advanced medical devices, among the geriatric people, on account of the fact that they are usually more vulnerable to chronic diseases than younger individuals. The point-of-care ultrasound (PoCUS) devices enable the proper diagnosis and treatment of various diseases. For instance, with the help of these devices, healthcare professionals can non-invasively detect urinary incontinence in geriatric people.

As per the European Society of Cardiology, cardiovascular diseases were responsible for as much as 37% of the total deaths in the European Union in 2017. Furthermore, around 11 million new cases of cardiovascular diseases are reported in Europe every year. As per the World Health Organization (WHO), the second-major cause of morbidity and death in the European Union is cancer. As per the organization, in the EU, 1.3 million deaths were caused due to cancer in 2015.


In the future years, the European Union point-of-care ultrasound (PoCUS) device market would register the fastest growth in Germany. This would be a result of the soaring geriatric population in the country. According to the findings of the United Nations World Ageing Report, which was published in 2017, the geriatric population of the country accounted for a share of 28.0% of the total population in that year. Furthermore, this share would increase to 37.6% by 2050, as per the report.


Hence, it can be safely concluded from the above paragraphs that the market would demonstrate huge expansion in the forthcoming years, primarily because of the soaring geriatric population and the growing incidence of lifestyle-associated and chronic diseases in the region. 

Source: P&S Intelligence
 

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