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Transrectal Ultrasound Market Size to Surpass USD 68,234 Million by 2033, exhibiting a CAGR of 8.4%

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Transrectal Ultrasound Market Size to Surpass USD 68,234 Million by 2033, exhibiting a CAGR of 8.4%

October 30
18:44 2023
Transrectal Ultrasound Market Size to Surpass USD 68,234 Million by 2033, exhibiting a CAGR of 8.4%
Transrectal Ultrasound Market Future Trends, Growth Factors and Leading Players by 2033
The Global Transrectal Ultrasound Market size is anticipated to reach around USD 68,234 Million by 2033, expanding at a compound annual growth rate (CAGR) of 8.4% from 2023 to 2033.

The Transrectal Ultrasound Market size was valued at USD 31,763 Million in 2023, and is projected to reach USD 68,234 Million by 2033, growing at a CAGR of 8.4% from 2023 to 2033. A transrectal ultrasound, also known as prostate sonogram or endorectal ultrasound, is a device used to perform an ultrasound-guided needle biopsy evaluation of prostate gland in men with elevated prostate-specific antigen.

Transrectal ultrasound (TRUS) is a medical imaging method that employs ultrasound technology for generating visuals of the structures and organs situated in the pelvis and lower abdominal area, specifically in the vicinity of the rectum. In the course of a transrectal ultrasound, a distinct ultrasound probe is introduced into the patient’s rectum. This probe emits high-frequency sound waves, and the reflections generated by these sound waves as they interact with the neighboring tissues are employed to produce live images of the prostate gland, along with adjacent structures such as the rectum and seminal vesicles.

The growth of the transrectal ultrasound market is primarily steered by the rising prevalence of prostate cancer and the expanding elderly population. Advancements in ultrasound technology have substantially enhanced the quality of TRUS imaging and the comfort of patients, further driving the market forward. Increased awareness of the significance of regular health check-ups and early cancer detection has also contributed to the increasing demand for TRUS procedures. Moreover, the broadening range of applications for TRUS beyond prostate imaging, favorable government initiatives, investments in research and development, and supportive reimbursement policies all together influence the dynamics of the TRUS market, solidifying its status as a crucial and evolving sector within the medical imaging industry.

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Prominent market leaders are directing their efforts towards introducing cutting-edge solutions for prostate cancer treatment. For instance, ExactVu has developed a micro-ultrasound platform designed to facilitate precise biopsies during standard urological procedures, aiding urologists and radiologists in this regard. This innovative tool operates at a distinctive 29MHz frequency, enabling healthcare professionals to visualize previously imperceptible prostate images prior to surgical interventions. The ExactVu micro-ultrasound system is currently accessible for purchase in the United States, Canada, and various European markets.

The worldwide transrectal ultrasound market experienced a substantial disruption in 2020, primarily due to the widespread effects of the COVID-19 pandemic. This tumultuous period witnessed a noticeable reduction in the volume of urological surgical procedures, presenting a formidable obstacle to market expansion. Furthermore, key industry participants encountered difficulties stemming from the scarcity of domestically procured raw materials or components, leading to a significant decline in their profit margins.

Market Dynamics

The increasing occurrence of prostate cancer, a major primary case for transrectal ultrasound, plays a significant role. Prostate cancer stands as one of the most prevalent malignancies in men, leading to the need for frequent screenings and diagnostic procedures, which frequently entail the use of transrectal ultrasound-guided biopsies. As reported by the World Cancer Research Fund International, prostate cancer ranks as the second most frequently diagnosed cancer among all types and the fourth most common cancer overall. Furthermore, the year 2020 witnessed a global total of over 1.4 million new instances of prostate cancer.

The progress in ultrasound imaging technology, including the creation of high-resolution transrectal ultrasound probes and enhanced imaging software, has elevated the precision and efficiency of transrectal ultrasound processes, thereby boosting the growth of transrectal ultrasound market. These innovations have not only upgraded the diagnostic capabilities but have also broadened the range of applications for transrectal ultrasound in the field of medicine.

Expanding the range of applications beyond prostate-related diagnoses presents a substantial opportunity. Transrectal ultrasound has the potential to be employed in the assessment and tracking of a variety of pelvic conditions, encompassing gynecological issues in women, rectal tumors, and pelvic floor disorders. Through continuous research and development, the market can broaden its applications, consequently enhancing its significance and market presence in these domains.

The cost is a big concern because the equipment and procedures for transrectal ultrasound can be very expensive. This makes it hard for some patients and healthcare facilities with limited budgets to use them. Additionally, there’s a lack of skilled healthcare workers in some areas who can do and understand transrectal ultrasound tests, which is another issue limit the transrectal ultrasound industry growth.

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Market Players

The Transrectal Ultrasound Market is dominated by a few large companies, such as FUJIFILM Corporation, KOELIS, HALO Medical Technologies, Koninklijke Philips N.V., Exact Imaging, Telemed Medical Systems, GE Healthcare, Strata Imaging, GEOTEK and Other.

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