Transrectal Ultrasound Device Market is Thriving Worldwide with Leading Players
Prostate gland is a reproductive organ in the male body which secrets prostate fluid (main component of semen). It is located directly in front of the rectal wall and encompasses the urethra just underneath the bladder. Transrectal ultrasound (TRUS) is a diagnostic method, which uses ultrasound to depict an image of prostate gland and surrounding tissues. In this method, the medical staff inserts an ultrasound probe in the patient’s rectum. The ultrasound probe transmits and receives ultrasound signals and TRUS creates an image of the prostate gland and neighboring tissue. TRUS is generally performed to determine benign prostatic hyperplasia (enlarged prostate gland) in a patient. Additionally, physicians can recommend TRUS when the digital rectal examination is not adequate to identify the abnormality in the prostate gland.
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The global transrectal ultrasound device market is driven by rise in cases of benign prostatic hyperplasia and other urological abnormalities, increase in cases of prostate cancer, diagnostic & treatment rates of urological abnormalities, health care infrastructure, and product availability. However, the stringent health care regulatory landscape and product recalls are projected to restrain the global market in the upcoming future. Increase in R&D investment by the major players and technological advancements are anticipated to propel the global transrectal ultrasound device market during the forecast period.
In terms of product type, the global transrectal ultrasound device market can be categorized into TRUS device and accessories. The TRUS device segment held the largest market share in 2017. The segment is anticipated to expand at a significant CAGR during the forecast period. The accessories segment includes mobile stepper systems and navigation sensors. Based on technology, the global market can be classified into 2D technology, 3D technology, and others. The others segment includes combination of 3D and real-time imaging. The 2D technology segment held significant market share in 2017. The 3D technology segment is anticipated to expand at the faster CAGR during the forecast period. The global transrectal ultrasound device market can be segmented into hospitals, ambulatory surgery centers, diagnostic centers, and others. The hospitals segment accounted for the largest market share in 2017. The ambulatory surgery centers segment is likely to expand at a faster CAGR from 2018 to 2026.
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Geographically, the global transrectal ultrasound device market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held significant share of the global market in 2017 owing to high prevalence of urological diseases, high diagnostic and treatment rates of benign prostatic hyperplasia, availability of products, and robust health care infrastructure. Germany, France, and the U.K. held major shares of the transrectal ultrasound device market in Europe in 2017. The market in Italy and Spain is expected to witness strong growth during the forecast period. Highly developed health care industry, prominent research and development infrastructure, availability of transrectal ultrasound products, presence of major players, and contribution of small companies are attributed to high market share of Germany, France, and the U.K. in 2017. Developing health care infrastructure and technological advancements are likely to propel the transrectal ultrasound device market in Italy and Spain in the next few years.
China and Japan held significant shares of the transrectal ultrasound device market in Asia Pacific in 2017. The transrectal ultrasound device market in India is estimated to expand at a high CAGR in the near future, due to the emerging health care industry and presence of well-established domestic players. Underdeveloped health care industry is likely to hamper the growth of the transrectal ultrasound device market in Latin America and Middle East & Africa during the forecast period.
Key players in the global transrectal ultrasound device market are Invivo Corporation, BK Medical Holding Company, Inc., ECHO-SON S.A., SonaCare Medical, LLC, and Innomedicus, among others.
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