Global Therapeutic Ultrasound Devices Market: Overview

Therapeutic ultrasound is a type of treatment modality that is used during physical therapy to tissue, muscles, joints, tendons, and ligaments. It is mainly used to provide deep heating to heel the soft tissues of the body. Therapeutic ultrasound are used as two different effects such as non-thermal effects and deep heating effects. Non-thermal effects help in the expansion and contraction of tissues called as cavitation whereas deep heating process helps in proving heat to the soft tissues in the body.

Global Therapeutic Ultrasound Devices Market: Key Trends

The global therapeutic ultrasound devices market is primarily driven by increase in the number of ultrasound procedures, rise in prevalence of chronic conditions, and technological advancements. Additionally, increase in incidence of various disorders such as cardiovascular diseases and respiratory and abdominal disorders propels demand for therapeutic ultrasound devices. According to World Health Organization (WHO) estimates, cardiovascular diseases (CVD) account for 9.4 million deaths globally each year. The number is likely to increase to 23.3 million by 2030. Hence, demand for ultrasound devices for diagnosing various CVDs is increasing due to improving image production quality. Aging has been associated with a large number of diseases and disorders. These often become worse as elderly individuals take more time to recover. A majority of the geriatric population suffers from cardiovascular, neurological, and orthopedic disorders. According to the Administration for Community Living, the geriatric population (65 years or older) in the U.S. stood at 46.2 million in 2014. Therefore, increase in the geriatric population is likely to drive the therapeutic ultrasound devices market.

Furthermore, existing market players are deploying advanced techniques and strategies to develop novel processes for the manufacture of technologically enhanced therapeutic ultrasound devices that can make patient’s life easier and boost the market growth during the forecast period. However, lack of awareness about therapeutic ultrasound devices, high cost, and less availability are expected to restrain the global market in the next few years. Government funding in emerging markets are expected to provide new opportunities in the market during the analysis period.

Global Therapeutic Ultrasound Devices Market: Segmentation

The global therapeutic ultrasound devices market can be segmented based on technology, application, end-user, and region. In terms of technology, the market can be bifurcated into high intensity focused ultrasound, and extracorporeal shockwave lithotripsy. Based on application, the market is segmented as cancer, gynecology & obstetrics, cardiovascular disorders, urinary disorders, and others. Based on end-user, the global therapeutic ultrasound devices market can be divided into hospitals, clinics, diagnostic centers, ambulatory surgical centers, and others.

Global Therapeutic Ultrasound Devices Market: Regional Analysis

In terms of region, the global therapeutic ultrasound devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of the market in 2018, owing to high adoption of advanced health care devices in the region. Moreover, rise in prevalence of chronic disorders and presence of a large number of manufacturers are expected to boost the therapeutic ultrasound devices market in North America during the forecast period. Asia Pacific and Latin America are likely to be highly lucrative markets for therapeutic ultrasound devices in the near future. The market in these regions is projected to grow at a rapid pace during the forecast period, owing to large population, increase in the number of hospitals, and rise in government investment for the advancement of health care.

Global Therapeutic Ultrasound Devices Market: Competitive Landscape

Key players operating in the global therapeutic ultrasound devices market include Dornier Medtech, EDAP TMS, Philips Healthcare, InSightec, SonaCare Medical, Siemens and Wikkon.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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