Transcranial Doppler Ultrasound Market Size
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
CAGR | 6.00 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Transcranial Doppler Ultrasound Market Analysis
The Transcranial Doppler Ultrasound Market is expected to register a CAGR of 6% during the forecast period.
The COVID-19 pandemic affected healthcare systems globally and resulted in the interruption of usual care in many healthcare facilities, exposing vulnerable patients to significant risks. COVID-19 has impacted the growth of the studied market. For instance, according to an article published in March 2021, titled 'Transcranial Doppler Ultrasound (TCD) Evidence of Active Cerebral Embolization in COVID-19', Clinical TCD ultrasonography for the identification of microemboli was performed on patients with confirmed COVID-19 between May and June 2020, in Chicago. It has been observed that three individuals with confirmed COVID-19 and evidence of cerebral artery microemboli were identified using TCD ultrasonography for microemboli identification, one of whom was receiving therapeutic anticoagulation. Thus, TCD ultrasonography offers a non-invasive way to assess cerebral microemboli in COVID-19 patients and can help assess therapy response in cases with suspected or confirmed disorders of hypercoagulability. Hence, COVID-19 has a significant impact on market growth.
Certain factors that are propelling the market growth are the growing preference for transcranial doppler in detecting various cerebrovascular diseases and the rising technological advancements.
The increasing burden of cerebrovascular disease among the population increase the adoption of transcranial doppler ultrasound devices for continuous neuromonitoring is expected to increase the market growth over the forecast period. For instance, according to an article published in April 2022, titled 'Transcranial Doppler Ultrasonography as a Diagnostic Tool for Cerebrovascular Disorders', the transcranial doppler (TCD) method of diagnosing cerebrovascular diseases is less expensive, non-invasive, and practically easier than the other imaging techniques. In addition, the transcranial doppler method is considered the most practicable method to monitor vascular alterations in response to therapy for treating cerebrovascular problems such as cerebral sinus venous thrombosis (CSVT), acute ischemic stroke (AIS), intracranial atherosclerotic stenosis (ICAS) and cerebral vasospasm (CV). Furthermore, TCD can detect most lesions amenable to interventional treatment, such as stenting and local thrombolysis as well as angioplasty, as well as monitor the impact of the underlined interventions. Thus, the increasing applications of TCD in detecting as well as monitoring various cerebrovascular diseases are expected to increase its adoption, thereby fueling market growth.
Similarly, as per an article published in September 2021, titled 'Transcranial Doppler ultrasonography (uses, limitations, and potentials): a review article', it has been observed that TCD as a non-invasive easily available at the bedside, the radiation-free device can help prevent the neurologic deficits in critically ill patients with ischemic stroke, subarachnoid hemorrhage (SAH), and traumatic brain injury (TBI) who have cerebral hemodynamic disturbances, who require extended neuromonitoring. This is expected to boost the demand for transcranial doppler ultrasound, thereby bolstering market growth.
Furthermore, according to the data published by the Centers for Disease Control and Prevention, in December 2021, titled 'Concussions and Brain Injuries in Children: the United States, 2020', it has been observed that about 6.8 percent of children aged 17 and under had experienced a concussion or brain injury symptoms, in 2020. In addition, as per the same source, the percentage of children who had ever experienced concussion or brain injury symptoms increased with age, rising from 2.0 percent in children aged 5 to 12.2 percent in children aged 12 to 17. Thus, traumatic brain injuries alter cerebrovascular function by causing long-term neurodegeneration, poor autoregulation, subarachnoid hemorrhage, vasospasms, edema, and disruption of the blood-brain barrier, which is expected to increase the demand for extended neuromonitoring, thereby propelling the market growth.
However, the lack of skilled expertise in handling the ultrasound system is expected to restrain the market growth over the forecast period.
Transcranial Doppler Ultrasound Market Trends
This section covers the major market trends shaping the Transcranial Doppler Ultrasound Market according to our research experts:
Sickle Cell Diseases Segment Expects to Register a High CAGR in the Transcranial Doppler Ultrasound Market Over the Forecast Period
The sickle cell disease segment is expected to witness significant growth in the transcranial doppler ultrasound market over the forecast period owing to the increasing burden of sickle cell anemia, and its effects on the cerebral blood flow, among the population and the rising application of intracranial doppler ultrasound system in patients with sickle cell disease.
The rising prevalence of sickle cell disease is the key factor driving the demand for transcranial doppler ultrasound. For instance, according to the 2022 statistics published by the Centers for Disease Control and Prevention, approximately 100,000 Americans are affected by sickle cell disease every year. In addition, about 300,000 babies are born every year with sickle cell anemia, worldwide and this number is expected to double in near future. Thus, the high burden of sickle cell disease among the population is expected to increase the market growth over the forecast period.
Additionally, according to an article published in April 2021, titled 'Impairment of Cerebrovascular Hemodynamics in Patients with Severe and Milder Forms of Sickle Cell Disease', it has been observed that in sickle cell disease (SCD) patients, cerebral blood flow (CBF) is increased to combat anemia and maintain the brain's oxygen supply constant. This could deplete the arteries' ability to dilate, potentially raising the risk of silent cerebral infarctions. Thus, the high risk of cerebral infarctions is expected to increase the demand for transcranial doppler ultrasound devices to detect as well as monitor the patient's condition, thereby propelling market growth.
Thus, owing to the aforementioned factors, the studied market is expected to grow over the forecast period.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same Over the Forecast Period
North America is expected to hold a major market share in the global transcranial doppler ultrasound system market over the forecast period owing to the factors such as the rising incidences of neurological disorders and the increasing geriatric population, as these populations need a constant diagnosis to be done.
Moreover, high healthcare spending, the presence of well-established healthcare infrastructure, the increasing rate of cardiovascular diseases, and brain injuries that affect the blood flow in the brain are also contributing to the market growth.
The high burden of neurovascular or cerebrovascular diseases in the United States is expected to be the major driving factor for the growth of the transcranial doppler ultrasound market over the forecast period. For instance, according to the April 2022 update of the Centers for Disease Control and Prevention (CDC), about 795,000 cases of stroke are reported in the United States every year, of which 610,000 are first or new strokes and further, of all reported cases of stroke, approximately 87% are ischemic strokes in which blood flow to the brain is blocked. Additionally, as per January 2022 update from the Centers for Disease Control and Prevention (CDC), stroke or cerebrovascular disease is one of the major health concerns in the United States with about 2.2 million visits to physicians' offices with stroke as a primary diagnosis and there were about 7.8 million adults who ever had a stroke in the country. Similarly, according to the data published by Canadian Institute for Health Information, in July 2021, more than 62,000 strokes occur each year in Canada, making it the third most common cause of death. Thus, owing to the high burden of stroke in the country, the studied market is expected to grow over the forecast period.
In addition, according to the Organization for Economic Co-operation and Development (OECD), in June 2022, United States healthcare spending in 2021 was 17.8% of the total GDP of the country and Mexico's health spending as a share of GDP was 6.2% in 2020, This is expected to positively impact market growth. Additionally, as per the Centers for Medicare and Medicaid Services, National Health spending is projected to grow at an average annual rate of 5.4% for 2019-2028 and to reach USD 6.2 trillion by 2028. As national health expenditure is projected to grow 1.1% points faster than gross domestic product per year on average over 2019-2028 the health share of the economy is projected to rise by 19.7% in 2028. Also, Medicare covers approximately 72% of all patients with stroke and approximately 75% of the total stroke cost in the United States. Thus, the increasing healthcare spending is expected to increase company activities in developing effective and technologically advanced transcranial doppler ultrasound systems, thereby propelling the market growth.
Furthermore, the rising company activities in developing technologically advanced ultrasound system for monitoring and detecting cerebrovascular disease is also contributing to the market growth. For instance, in February 2021, Novasignal Corp launched a cloud-based app to provide alerts to clinicians directly from its cerebral ultrasound device. The app allows physicians to get instant notifications from the company's Novaguide device, a transcranial doppler ultrasound technology that allows for real-time assessment of blood flow in the brain by combining robotics and artificial intelligence (AI).
Thus, owing to the aforementioned factors, the studied market is expected to grow over the forecast period.
Transcranial Doppler Ultrasound Industry Overview
The market studied is moderately competitive, and there are several international as well as local companies in the market. Some of the companies that have been currently dominating the transcranial Doppler ultrasound system markets market are Neural Analytics, Viasonix, Rimed, B. Braun Melsungen AG, and Konica Minolta Healthcare India Pvt. Ltd, and Spencer Technologies.
Transcranial Doppler Ultrasound Market Leaders
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Viasonix
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Rimed
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B. Braun Melsungen AG
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Konica Minolta Healthcare India Pvt. Ltd.
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NovoSignal Corp
*Disclaimer: Major Players sorted in no particular order
Transcranial Doppler Ultrasound Market News
- In March 2022, Health Canada granted a Medical Device Licence (MDL) to Novasignal Corp's NovaGuide Intelligent Ultrasound, a transcranial doppler ultrasound, for use in capturing and monitoring blood flow in the brain in real-time, in Canada.
- In October 2021, NovaSignal launched the second version of their artificial intelligence (AI)-guided robotic platform for assessing cerebral blood flow to guide real-time diagnosis. The platform utilizes ultrasound to automatically record blood flow data, which is subsequently transferred to a cloud system that complies with HIPAA rules so that clinicians may view the exam data on any personal device.
Transcranial Doppler Ultrasound Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Preference for Transcranial Doppler in Detecting Various Cerebrovascular Diseases
4.2.2 Rising Technological Advancements
4.3 Market Restraints
4.3.1 Lack of Skilled Expertise
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Application
5.1.1 Sickle Cell Disease
5.1.2 Acute Ischemic Stroke
5.1.3 Intracranial Steno Occlusive Disease
5.2 By End User
5.2.1 Hospitals
5.2.2 Diagnostic Laboratories
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East & Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East & Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 NovoSignal Corp.
6.1.2 Viasonix
6.1.3 Rimed
6.1.4 B. Braun Melsungen AG
6.1.5 Konica Minolta Healthcare India Pvt. Ltd
6.1.6 Spencer Technologies
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Transcranial Doppler Ultrasound Industry Segmentation
As per the scope of the report, the transcranial doppler ultrasound system is the technology used for measuring the velocity of blood flow through the brain arteries by measuring the echoes of ultrasound waves. It provides real-time measures of cerebrovascular functions. The Transcranial Doppler Ultrasound Market is segmented by Application (Sickle Cell Disease, Acute Ischemic Stroke, and Intracranial Steno Occlusive disease), End User (Hospitals and Diagnostic Laboratories), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
By Application | |
Sickle Cell Disease | |
Acute Ischemic Stroke | |
Intracranial Steno Occlusive Disease |
By End User | |
Hospitals | |
Diagnostic Laboratories |
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Transcranial Doppler Ultrasound Market Research FAQs
What is the current Global Transcranial Doppler Ultrasound Market size?
The Global Transcranial Doppler Ultrasound Market is projected to register a CAGR of 6% during the forecast period (2024-2029)
Who are the key players in Global Transcranial Doppler Ultrasound Market?
Viasonix, Rimed, B. Braun Melsungen AG, Konica Minolta Healthcare India Pvt. Ltd. and NovoSignal Corp are the major companies operating in the Global Transcranial Doppler Ultrasound Market.
Which is the fastest growing region in Global Transcranial Doppler Ultrasound Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Transcranial Doppler Ultrasound Market?
In 2024, the North America accounts for the largest market share in Global Transcranial Doppler Ultrasound Market.
What years does this Global Transcranial Doppler Ultrasound Market cover?
The report covers the Global Transcranial Doppler Ultrasound Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Transcranial Doppler Ultrasound Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Global Transcranial Doppler Ultrasound Industry Report
Statistics for the 2024 Global Transcranial Doppler Ultrasound market share, size and revenue growth rate, created by ÌÇÐÄvlog´«Ã½â„¢ Industry Reports. Global Transcranial Doppler Ultrasound analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.