Transrectal Ultrasound (TRUS) Market
Growth Factors of Transrectal Ultrasound Market
The transrectal ultrasound market size was valued at USD 241.2 million in 2023, and the market is now projected to grow from USD 255.6 million in 2024 to USD 425.2 million by 2032, exhibiting a CAGR of 6.6% during the forecast period of 2024-2032.
Pandemic substantially impacted the transrectal ultrasound market growth. Pandemic drastically impacted the transrectal ultrasound market growth in 2020, vital to a decline in urological surgical approaches. The British Association of Urological Surgeons Limited implemented a triage schema for step-down cancellations, prioritizing COVID-19 affected person treatment. The postponement of capital device installations and elective approaches similarly exacerbated the market's decline.
Prostate cancers, a generic and developing most cancers, affects the prostate, a part of the male reproductive device. The World Cancer Research Fund International reviews it as the second most common most cancers and the fourth most common standard. In 2020, over 1.4 million new instances were mentioned globally. The American Cancer Society reviews a growing occurrence over the last 20 years, using demand for greater effective remedies and marketplace boom.
Major players in the market are focusing on launching advanced technologies, such as the ExactVu micro-ultrasound platform, which allows urologists to visualize unseen prostate images before surgery. Government approvals to sell ultrasound devices in different countries are expected to boost market growth. A retrospective study using an Al model based on transrectal ultrasound images showed that this model can improve diagnostic performance and guide prostate biopsy.
Comprehensive Analysis of Transrectal Ultrasound Market
The international market for transrectal ultrasound is segmented into structures and transducers, with the machine segment dominating the market in 2023. The transducers section is anticipated to document the very best CAGR due to their large use in prostate most cancers screening and analysis. The marketplace is divided into cart/trolley-based and transportable gadgets, with the cart/trolley-based phase retaining the most important market share due to their speedy prognosis and accurate effects. The transportable segment is expected to sign in the best CAGR because of the launch of superior handheld gadget and growing choice for minimally invasive treatments. The diagnostic segment is expected to grow due to the rising prevalence of prostate cancer and demand for transrectal procedures.
The North America region lead the transrectal ultrasound market share by benefitting a market size of USD 70.3 million in 2023 due to the increasing occurrence of prostate most cancers, properly-evolved infrastructure, and key players. The American Society of Clinical Oncology predicts 288,300 men inside the U.S. Will be identified with prostate most cancers by using 2023, boosting demand for transrectal ultrasound gadgets. Government initiatives and compensation rules are also anticipated to force marketplace boom.
International marketplace for ultrasound systems for urology become ruled with the aid of the top 2-3 players, with BK Medical Holding Company, Inc. Maintaining a strong market function due to its set up logo presence, diversified ultrasound portfolio, and massive geographic presence. Other key players blanketed KOELIS, Exact Imaging, Telemed Medical Systems, EUJIFILM Corporation, Strata Imaging, HALO Medical Technologies, GEOTEK, and Koninklijke Philips N.V.
Teleflex Incorporated has acquired Palette Life Sciences AB, aiming to expand its product portfolio in the interventional urology segment in July 2023.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 6.6% from 2024 to 2032
Unit Value (USD Million)
Segmentation By Product
Systems
Transducers
By Type
Cart/ Trolley-based
Portable
By Application
Diagnostic
- Prostate Cancer
- BPH (Benign Prostatic Hyperplasia)
- Others
Image-guided Treatment
By End-user
Hospitals & ASCs
Diagnostic Laboratories
Others
By Region
North America (By Product, Type, Application, End-user, and Country)
Europe (By Product, Type, Application, End-user, and Country/Sub-Region)
- U.K.
- Germany
- France
- Italy
- Spain
- Scandinavia
- Rest of Europe
Asia Pacific (By Product, Type, Application, End-user, and Country/Sub-Region)
- China
- India
- Japan
- Australia
- Southeast Asia
- Rest of Asia Pacific
Latin America (By Product, Type, Application, End-user, and Country/Sub-Region)
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa (By Product, Type, Application, End-user, and Country/Sub-Region)
Rest of Middle East & Africa