Pune, July 15, 2019 (GLOBE NEWSWIRE) -- The increasing incidence of prostate cancer especially among aging men is the key driver of the global transrectal ultrasound (TRUS) market. This was found by Fortune Business Insights in a report, titled “Transrectal Ultrasound Market Size, Share and Global Trend by Product (Systems, Transducers), Type (Cart/Trolley Based, Portable), Application (Diagnostic, Image-guided Treatment), End User (Diagnostic Laboratories, Hospitals) and Geography Forecast till 2025”. Fortune Business Insights predicts the global TRUS market to exhibit a CAGR of 4.5% during the forecast period. Furthermore, in 2017, the market was valued at US$ 204.8 and is anticipated to reach US$ 291.2 Mn by the end of 2025.
Among regions, Asia Pacific is likely to offer lucrative growth opportunities to the enterprises operating in the global TRUS market. The huge installed bases of transrectal ultrasound or TRUS devices in Asia Pacific is one of the major factors driving the TRUS market. An rising need to replace existing healthcare infrastructure in Asia Pacific is another factor driving the TRUS market. North America held a considerable share in the global TRUS market in 2017. High diagnostic rates of benign prostatic hyperplasia, rising prevalence of urological disorders, and robust healthcare infrastructure contributed towards the growth of this region. The demand for transrectal ultrasound procedures in Europe is also expected to rise steadily during the forecast period mainly on account of rising geriatric population and demand for minimally invasive devices.
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Lifestyle Changes Leading to Rising Prevalence of Prostate Cancer in turn Fueling Demand for TRUS Devices
“The demand for effective treatment for urological abnormalities such as prostate cancer is increasing primarily due to rapid changes in lifestyle,” stated a lead analyst at Fortune Business Insights. “This is one of the chief factors driving the TRUS market,” he added. The transrectal ultrasound of prostate helps to locate the position of cysts in the male reproductive system and identify if they are cancerous or non-cancerous. This is the reason why male population prefers transrectal ultrasound scan than any other normal tests. The healthcare infrastructure in developed and developing countries is sophisticated and well-equipped. This, coupled with better product availability, is boosting the TRUS market.
There are several other factors spelling growth in the TRUS market. Governments across regions are actively participating to ensure the early detection and timely treatment of prostate cancer. This factor, combined with technological developments, is anticipated to bode well for the TRUS market.
Transrectal ultrasound or endorectal ultrasound uses different technologies to get accurate and precise test results. These technologies include 2D, 3D technology, and others such as real-time imaging. The advent of such technologies is projected to further drive the TRUS market in the coming years. The adoption of TRUS devices is likely to increase in hospitals, clinics, diagnostic centers, and surgical centers. This will encourage companies to introduce novel TRUS devices with the help of upcoming technologies.
Stringent Healthcare Policies by Regulatory Authorities may Inhibit Growth
Despite witnessing strong growth prospects, there are certain factors that may restrict the market in the coming years. Strict regulations regarding approvals on healthcare medications and diagnosis may inhibit the growth of the market. In addition to this, product recalls due to safety issues may restrict the TRUS market to grow in the next coming years. Nonetheless, several companies are planning to invest in R&D activities and technological developments, which will propel growth in the TRUS market.
Several Savvy Players to Launch Advanced TRUS Devices; Helping Market to Pick Pace
The competitive landscape of global transrectal ultrasound market is semi-consolidated. The market was dominated by some well recognized brands in 2017. B.K. Holding was one of them, which covered a significant share in the global market for TRUS. Some of the other companies presently functioning in the global TRUS market are TELEMED, Esaote SpA, GE Healthcare, The Prometheus Group, and Exact Imaging.
Key Companies Mentioned in Report
- GE Healthcare
- BK Medical Holding Company, Inc.
- KOELIS
- Exact Imaging
- The Prometheus Group
- TELEMED
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- Other players
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Table of Content:
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Market Size& Forecast (in Volume) – By Geography (North America, Europe, Asia Pacific, Latin America and Middle East & Africa), 2014-2025
- Disease Prevalence - Prostate Cancer and BPH, 2017 – For Key Countries
- Recent Industry Developments – Partnerships, Mergers & Acquisitions
- Key Differentiating Strategies of Top Players Operating in the Market
- Technological Developments in TRUS Market
- Distributor Analysis – Major Companies
- Global Transrectal Ultrasound Market Analysis, Insights and Forecast, 2014-2025
- Key Findings/ Summary
- Market Analysis, Insights and Forecast – By Product
- Systems
- Transducers
- Market Analysis, Insights and Forecast – By Type
- Trolley/Cart Based
- Portable
- Market Analysis, Insights and Forecast – By Application
- Diagnostic
- Prostate Cancer
- Benign Prostate Hyperplasia
- Others
- Image-guided Treatment
- Diagnostic
- Market Analysis, Insights and Forecast – By End User
- Hospitals/ Ambulatory Surgery Centers
- Diagnostic Laboratories
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Competitive Analysis
- Strategic Recommendations
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