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.
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.
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.
Some of the Main Key Players Covered in the Report
- GE Healthcare
- BK Medical Holding Company, Inc.
- Exact Imaging
- The Prometheus Group
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
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.
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