Echotherapy Market Size & Share by Application (Prostate Cancer, Neurological Disorders, Uterine Fibroids); End-use (Hospitals, Diagnostic Centers, Research Institutions) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5953
  • Published Date: Apr 02, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Echotherapy Market size is expected to reach USD 3 Billion by the end of 2036, growing at a CAGR of 7% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of echotherapy was USD 1 Billion. Worldwide, the prevalence of cancer has increased, surpassing cardiovascular illnesses as the second leading cause of death. For instance, it was predicted that 18.1 million instances of cancer would occur globally in 2020. Of these cases, 9.3 million were attributed to men and 8.8 million to women. This phenomenon is caused by environmental variables such as prolonged post-reproductive lifespan, altered food habits, urbanization, and cigarette smoking. As a result, it is anticipated that the rising prevalence of cancer will lead to a global increase in oncology cancer medications. Furthermore, it is expected that in the upcoming years, the global industry would benefit from the growing public awareness of cancer.

Furthermore, expert choices for treating varicose veins have advanced with the use of echotherapy. It is the only technique that doesn't require an operating room and is completely non-invasive. Being the only method that treats from the outside of the body, it leaves no scars and enables the patient to return to their regular activities immediately. Echotherapy uses therapeutic ultrasound waves, which are the same as those used in an ultrasound examination.


Echotherapy Market
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Echotherapy Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Incidences of Neurological Disorders Globally - Neurological diseases including multiple sclerosis, Parkinson's, and Alzheimer's are becoming more common and causing more cases of each. The echotherapy market growth in the upcoming years is expected to be significantly impacted by this increase. On the other hand, Alzheimer's disease is becoming more common in countries where the senior population is growing. For example, in 2020, there will be about 55 million dementia patients worldwide. By 2050, there will be 139 million people on the planet, having nearly doubled every 20 years to 78 million in 2030.
  • Increasing Technological Advancements - The growth can be attributed to the growing technological advancements in echotherapy by the key manufacturers. For instance, The U.S. pivotal clinical trial to assess the safety and effectiveness of Echopulse echotherapy as a non-invasive treatment for breast fibroadenomas (BFAs) has seen the treatment of its first patients, according to Theraclion, a business that specializes in state-of-the-art medical equipment for echotherapy. Therefore, this factor is propelling the echotherapy market growth. Additionally, there is a growing amount of innovation in other medicines and high-end technologies, such as molecular imaging, drug/gene delivery, and robotic surgery, which is escalating the echotherapy market growth.
  • Growing Demand for Echotherapy - The need to treat a variety of conditions has fueled the market's rise because of rising technology and the growing need for minimally invasive therapy. Focussed ultrasound is a non-invasive therapy technique for people with thyroid nodules that may lower medical costs and enhance patient quality of life. This cutting-edge technology precisely and correctly directs ultrasonic energy beams toward targets located deep within the body without causing harm to the surrounding healthy tissue. Therefore, the demand for echotherapy as non-invasive treatment option for thyroid diseases, is propelling its echotherapy market growth.

Challenges

  • Improper Echo - Echo can occasionally reduce anxiety problems, however for other people it can also increase or cause anxiety. Alzheimer's patients may experience increased worry and distress due to an incorrect echo. The patient's mental state may be greatly affected by the echo intensity, according to the therapist. A pessimistic perspective may be shown by some echo intensity, which eventually makes one feel more depressed. This is especially difficult for those who are sad, which will hinder the market for echotherapy from expanding throughout the projected period of time.
  • Lack of Skilled Labor may Hamper the echotherapy market Growth
  • Growing price pressures of the therapy may impede the echotherapy market growth

Echotherapy Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~ 7%

Base Year Market Size (2023)

 ~ USD 1 Billion

Forecast Year Market Size (2036)

 ~ USD 3 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Echotherapy Segmentation

Application (Prostate Cancer, Neurological Disorders, Uterine Fibroids)

Prostate Cancer segment of echotherapy market is expected to hold the largest share of 48% during the forecast period. The aging population, rising incidence of prostate cancer, the rise in generic products, rising public awareness of prostate cancer treatment options, higher R&D spending by pharmaceutical companies, strong emerging pipeline drugs, and the availability of new treatments for prostate cancer are the main factors driving the sector's growth. For instance, the second most frequent cancer in men and the fourth most common cancer overall is prostate cancer. In 2020, there were about 1.4 million new instances of prostate cancer. Furthermore, the untapped potential of developing economies offers profitable prospects for the expansion of the ecotherapy market over the forecast period. The prostate cancer market will grow as a result of increased government financing and increased efforts by public and private groups to raise awareness. The development of potent pipeline therapy and the availability of novel prostate cancer medicines will lead to a faster rate of increase in prostate cancer echotherapy.

End-use (Hospitals, Diagnostic Centers, Research Institutions)

Hospitals segment for echotherapy market is expected to hold a share of 44% during the projected period. A few factors driving the expansion of this market are the rising need for advanced therapeutic modalities and the integration of therapy equipment into surgical suites. When compared to general or specialty hospitals, teaching hospitals in a number of wealthy countries have witnessed a sharp increase in demand for different therapeutic techniques. However, there is a noticeable rise in the quantity of new hospitals in Asia Pacific's developing countries. The entry of foreign healthcare service providers into the market is the cause of this. In these countries, the healthcare sector is dominated by private entities.

Our in-depth analysis of the global echotherapy market includes the following segments

          Application

  • Prostate Cancer
  • Neurological Disorders
  • Uterine Fibroids

          End-use

  • Hospitals
  • Diagnostic Centers
  • Research Institutions

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Echotherapy Industry - Regional Synopsis

North American Market Forecast

North American echotherapy market is expected to hold a share of 35% during the forecast period. The North American healthcare system is renowned for its highly developed infrastructure and expenditures. For instance, the amount spent on health care in the United States increased by 4.1% in 2022 to USD 4.5 trillion, or USD 13,493 per person. Further, a number of insurance plans and regulatory laws are implemented to manage the nation's healthcare system. Furthermore, American regulatory agencies are implementing a number of economic strategies to lessen their financial impact on the healthcare industry. A value-based system shift is primarily driven by the different policies that insurance payers, governments, providers, and biotechnology corporations have implemented.

APAC Market Statistics

The echotherapy market in Asia-Pacific is expected to expand rapidly shortly with a share of 28% by the end of 2036. The market is expanding due to a number of factors, including the growth in the elderly population, favorable regulatory environments, and the increased prevalence of chronic diseases like cancer in the region. Additionally, it is anticipated that the growing emphasis of suppliers on developing countries like China and India will accelerate the expansion of the echotherapy market in the area. During the projection period, market participants are expected to have access to profitable growth possibilities from China and India. Additionally, the expansion of echotherapy is anticipated to be aided by increased R&D spending, a rise in the knowledge of disease diagnosis, and the growing presence of key businesses in the region.

Research Nester
Echotherapy Market Regional
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Companies Dominating the Echotherapy Market

top-features-companies
    • Theraclion
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Royal Philips
    • Image-Guided Therapy
    • EDAP TMS
    • SonaCare Medical LLC
    • Shanghai A & S Science Technology Development Co., Ltd.
    • ALPINION
    • Chongqing Haifu Medical Technology Co., Ltd.
    • SuperSonic Imagine
    • Echo Therapeutics

In-the-news

In The News

  • April 2023 - Theraclion, a French startup creating a scalable robotic platform for non-invasive ultrasound treatment, has announced that the FDA has accepted its application for an investigational device exemption to start the multicenter pivotal VEINRESET study, which will use the company's Sonovein echotherapy device to treat primary insufficiency of the great saphenous veins. Theraclion claims that its method for echotherapy concentrates therapeutic ultrasounds from outside the body into an interior focal point using high-intensity focused ultrasound. Patients can resume their regular activities right away after receiving echotherapy because it doesn't involve any incisions or the need for an operating room.
  • November 2023 - Leading health technology company Royal Philips unveiled the newest generation of its flagship ultrasound equipment, EPIQ Elite, and Affiniti, at #RSNA23, with workflow and efficiency at its core. The world's ultrasound practitioners face growing patient volumes and a dearth of staff, which are made worse by increasingly complicated cases. Along with transducer compatibility across all Philips ultrasound systems, including the recently released Compact Ultrasound 5000 Series, the systems also include additional automated features and a shared user interface. By enhancing workflow and increasing scanning efficiency, these most recent developments are showing a favorable influence on staff and patient satisfaction with customers globally.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 5953
  • Published Date: Apr 02, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing incidences of neurological disorders globally, increasing technological advancements, and growing demand for echotherapy are the major factors driving the growth of the echotherapy market.

The market size of echotherapy is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2024-2036.

The major players in the market are Theraclion, Royal Philips, Image-Guided Therapy, EDAP TMS, SonaCare Medical LLC, Shanghai A & S Science Technology Development Co., Ltd., ALPINION, Chongqin, Haifu Medical Technology Co., Ltd., SuperSonic Imagine, Echo Therapeutics, and others.

The prostate cancer segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Echotherapy Market Report Scope
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