Acoustic Medicine and Ultrasound Therapy Market - Forecast(2024 - 2030)

Acoustic Medicine and Ultrasound Therapy Market Overview

The Acoustic Medicine and Ultrasound Therapy market size is estimated to reach $2.3 billion by 2026, growing at a CAGR of 5.6% during the forecast period 2021-2026. Acoustic Medicine and Ultrasound Therapy involves the use of high-frequency sound waves to treat conditions such as musculoskeletal injuries, tendinopathy, cataracts, cancers, and kidney stones. Moreover, Ultrasound Therapy is also used in the targeted drug delivery and transdermal drug delivery system. The increase in popularity and awareness of the usage of Acoustic Medicine and Ultrasound Therapy in regenerative medicine, weight-loss surgical procedures, and cancer therapy is anticipated to drive the market during the forecast period. However, the low prevalence and acceptance of Acoustic Medicine and Ultrasound Therapy in major developing regions is anticipated to hamper growth opportunities during the forecast period.

Acoustic Medicine and Ultrasound Therapy Market Report Coverage

The report: “Acoustic Medicine and Ultrasound Therapy Market (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Acoustic Medicine and Ultrasound Therapy Market.

By Product Type: Bench-Top, Hand-Held, Wearable, and Others.
By Application: Hemostasis, Tendinopathy, Thrombolysis, Cataracts Treatment, Cancer therapy, Lithotripsy, Liposuction, Drug Delivery, Physical Therapy, and Others.
By End User: Hospitals, Clinics, Physiotherapy Centers, and Others
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America) and Rest of World (the Middle East and Africa).

Key Takeaways

• Geographically, the North American Acoustic Medicine and Ultrasound Therapy market accounted for the largest share in 2020 owing to the presence of highly developed healthcare infrastructure and high patient awareness levels.
• An increase in the demand for minimally invasive procedures for treatments of diseases such as kidney stones and cancers is anticipated to drive the market. However, the lack of evidence regarding the effectiveness of ultrasound therapy in tissue healing is anticipated to hamper the growth of the Acoustic Medicine and Ultrasound Therapy Industry.
• Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Acoustic Medicine and Ultrasound Therapy Report.

Acoustic Medicine and Ultrasound Therapy Market Segment Analysis-By Product Type

Based on Product Type, the Acoustic Medicine and Ultrasound Therapy Market is segmented into Bench-Top, Hand-Held, Wearable, and Others. The Bench-Top Ultrasound Therapy Device segment is anticipated to have the largest share of the market in 2020 and is poised to dominate the market during the forecast period 2021-2026. This is attributed to its widespread adoption in hospitals and clinics. The Bench-Top devices can be incorporated with more features and have higher effectiveness and power than the other segments as weight and size is not a major concern. However, the Wearable Ultrasound Therapy device segment is projected to witness the fastest growth at a CAGR of 6.0% during the forecast period owing to their high portability and convenience. They have become prevalent among athletes as it allows them to multi-task as well as avoid frequent visits to the hospital for therapy.

Acoustic Medicine and Ultrasound Therapy Market Segment Analysis-By Application

The Acoustic Medicine and Ultrasound Therapy Market based on Application can be further segmented into Hemostasis, Tendinopathy, Thrombolysis, Cataracts Treatment, Cancer therapy, Lithotripsy, Liposuction, Drug Delivery, Physical Therapy, and Others. Physical Therapy was the largest segment of the Acoustic Medicine and Ultrasound Therapy Market share in 2020 owing to the increase in sports-related injuries and the rising global geriatric population. Around 2.4 million hospital visits are recorded in the US alone owing to injuries from sports activities such as cycling, exercising, Skateboarding and Basketball. Acoustic Medicine and Ultrasound Therapy are used to treat sports-related injuries such as ligament sprains and muscle strains. The Cancer Therapy and Drug Delivery segments are anticipated to register rapid growth with a CAGR of 6.8% during the forecast period owing to them being a non-invasive procedure. This makes the treatment more comfortable, reduces the chance of complications, and decreases costs for the patient. 

Acoustic Medicine and Ultrasound Therapy Market Segment Analysis-By Geography

The Acoustic Medicine and Ultrasound Therapy Market based on Geography can be segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. The North American segment is projected to dominate the Acoustic Medicine and Ultrasound Therapy market during the forecast period 2021-2026 with a market share of 41% owing to the presence of highly developed healthcare infrastructure, high patient awareness levels, a large population of athletes, and sports-related injuries as well as a growing geriatric population in the region. Moreover, key industry players such as ZetrOZ Systems, Mettler Electronics Corporation, and dynatronics corporation in the region ensure lower product costs and more options for customers. The Asia Pacific region is predicted to register the fastest growth owing to increased disposable income, a rise in awareness and adoption of non-invasive procedures, and growth in public healthcare funding in major emerging economies like China and India.

Acoustic Medicine and Ultrasound Therapy Market Drivers

Increase in Geriatric Population is Projected to Drive Market Growth

There were around 727 million persons over the age of 65 in 2020 and constituted 9.3% of the overall population. The geriatric population is predicted to reach 16% by 2050. This is anticipated to drive the market for therapeutic ultrasound devices during the forecast period as the geriatric population is more prone to diseases such as kidney stones, rheumatoid arthritis, and osteoarthritis. High energy ultrasounds break kidney stones into smaller pieces which can then pass through the body. This allows for a non-invasive and relatively painless treatment option for the geriatric population.

Rise in the Popularity of Wearable Ultrasound Therapy Devices is Predicted to Boost Demand

According to the CDC, more than 50 million people or 20% of the US population suffer from some sort of chronic pain. Conditions such as arthritis, lower back pain, joint pain, muscle pain, and fibromyalgia are the major causes of chronic pain among patients. The innovation in wearable ultrasound therapy devices allow for pain relief treatment to take place at home. This reduces the costs associated with a regular hospital or clinic visits. The device emits ultrasound waves that squeeze and open up tissues which increase the movement of nutrients. This speeds up the healing process and creates a soothing effect for the patient, thereby reducing the pain experienced by them drastically. The benefits and the convenience of such devices are driving the demand, especially in high-income regions of North America and Europe. 

Acoustic Medicine and Ultrasound Therapy Market Challenges 

Concerns Regarding Effectiveness of Ultrasound Therapy is Anticipated to Hamper Market Growth

Multiple studies conducted regarding the use of ultrasound therapy in treating conditions such as chronic pain, musculoskeletal injuries, and soft tissue lesions show no conclusive evidence that they are more effective than placebo ultrasound treatment. The effectiveness did not change with varying dosages or duration. This can hamper the market's growth as patients, and medical professionals may opt for a more proven and effective treatment alternative to cure such illnesses

Slow Rate of Development in Sports Medicine Sector is Projected to Limit Growth Opportunities

Professional and amateur athletes are highly prone to musculoskeletal injuries such as muscle cramps, strains, and sprains. These conditions can be treated with the use of Acoustic Medicine and Ultrasound Therapy. Even though they are widely implemented in highly developed regions of North America and Europe, the awareness and prevalence of Ultrasound therapy devices are low in developing regions like China, India, and Brazil owing to the relatively less advanced sports medicine sector. The low public and private investment in sports medicine reduce purchasing power for innovative technologies such as ultrasound therapy devices, thereby resulting in low penetration of such high potential markets.

Acoustic Medicine and Ultrasound Therapy Market Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by Acoustic Medicine and Ultrasound Therapy Market Players. The top 10 companies in the industry include:

1. NanoVibronix
2. Acoustic MedSystems, Inc.
3. ZetrOZ Systems
4. Mettler Electronics Corp.
5. Dynatronics Corporation
6. Roscoe Medical, Inc.
7. ALPINION
8. BrainSonix Corporation
9. CarThera
10. Cardiawave

Partnerships/Product Launches:

Relevant Links:

Ultrasound Devices Market – Forecast (2021 - 2026)

Report Code: HCR 0030

Ultrasound Sensors Market – Forecast (2021 - 2026)

Report Code: HCR 0702

For more Lifesciences and Healthcare Market reports, please click here