Essential Tremor Treatment with Ultrasound Market size is estimated to reach $1.86 million by 2026. Furthermore, it is poised to grow at a CAGR of 4.4% over the forecast period of 2021-2026. Essential tremors are mostly benign and are termed neurological disorders, and they can get severe with time. It is also termed as a movement disorder, which can hamper and cause shaking in hands, resulting in a slow ability to eat, shave, write or even perform basic household activities. More or less, the following tremor passes on genetically, as 50% of the designated patients under this condition had familial tremors. Therefore, ultrasound treatment is mainly recommended to patients, which show no improvement to medication. Moreover, the idiopathic tremor can be successfully treated by using ultrasound rays to destroy the tiny brain tissue which is responsible for such tremors. Additionally, the thalamotomy surgical procedures frequency has reduced significantly owing to high cases of infection and related fatality. The rising geriatric population worldwide and significant technological advancements that motivate people to opt for such non-invasive surgeries are some of the factors driving the essential tremor treatment with the ultrasound market forward from 2021 through 2026.
Essential Tremor Treatment with Ultrasound Market Segmentation Analysis- By Indication
The essential tremor treatment with ultrasound market based on indication can be further segmented into Head, Trunk, Upper Extremity, and Lower Extremity. The upper extremity held a dominant market share in the year 2020. It is owing to the composition of the upper extremity which includes, the upper arm, forearm, and hands which are predominantly affected during the essential tremor neurological disorder. Moreover, the relative number of tests to counter and understand the prevalence of essential tremor is gauged by asking the patient to draw a spiral, or write, or drink from the said glass.
Moreover, the upper extremity segment is estimated to be the fastest-growing, with a CAGR of 5.6% over the forecast period of 2021-2026. It is owing to the various diagnostic procedures recommended by the medical associations worldwide to judge the presence of essential tremors by way of testing the upper extremity. For example, rest with motor co-activation is an activation technique where the patient is asked to make tapping movements with the contralateral hand. Moreover, around 65% of the practices to judge the essential tremor is done via upper limb tests and diagnostics.
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Essential Tremor Treatment with Ultrasound Market Segmentation Analysis- By End Users
The essential tremor treatment with ultrasound market based on end-users can be further segmented into Hospitals, Ambulatory Surgical Center, Diagnostic & Specialty Clinics, and Others. The hospital segment held a dominant market share in the year 2020. It is owing to the patient’s preference and the availability of multiple specialty doctors under the hospital setup. For example, as per the common neurological examination procedures, such as tendon reflexes, ability to feel certain sensations, and holding gait or posture can be performed and judged by the neurosurgeon. Additionally, certain laboratory tests are recommended post the examination, which can be performed at ease, as the laboratory is generally associated and linked with the hospitals.
However, diagnostic and specialty clinics are estimated to be the fastest-growing, with a CAGR of 5.1% over the forecast period of 2021-2026. It is owing to the changing government preference to motivate private players into opening diagnostic and specialty clinics. Moreover, the procedure of ultrasound treatment has been recognized under Medicare, which eases the financial aspect of getting such surgeries done, as an average cost per sitting is close to $40,000. Moreover, the government is planning to save up to $100 billion by 2022 by the effective transition of hospital setups to private clinics and diagnostics.
Essential Tremor Treatment with Ultrasound Market Segmentation Analysis- By Geography
The essential tremor treatment with ultrasound market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a share of 39% as compared to the other regions and thereby held a dominant market size. It is owing to the rising prevalence of neurological disorders in the following regions. Moreover, around 10 million people in the USA are affected by essential tremor disorder. Currently, the government has accepted various clinical trials reports presented to them to fast-track effective MRI treatment for such diseases.
However, Asia-Pacific is set to offer lucrative growth opportunities to the marketer. It is owing to the steep rise in the geriatric population in the following regions. As per the reports by OECD, a population jump of 2.5x can be seen in the geriatric age group by 2050. Moreover, eleven countries will be termed as “super-aged” societies, just one in 2020.
Essential Tremor Treatment with Ultrasound Market Drivers
The increase in the geriatric population worldwide and close association of essential tremors with rising age is one of the prime drivers for the market.
As per the datasheet released by the US CDC, the senior population of the USA is said to break even with the younger population by 2034, and be 1.5x the younger population by 2040. Moreover, the geriatric population is now prevalent in the regions of Asia-Pacific as well. As per the various research ongoing in this field, it was observed that the essential tremor cases are most prevalent in people above the age of 50. Moreover, as per the CDC projections and analysis, around 10 million people only in the USA have the following condition. Therefore, the increasing senior population worldwide is only going to aid the growth of the said market. Additionally, essential tremors are primarily associated with dementia and earlier mortality.
Focussed ultrasound treatment as a non-invasive procedure with higher efficacy is one of the market drivers.
The ultrasound procedure is serving the middle ground for the affected patients. For one, it is a non-invasive procedure, and hence the chances of mortality during the surgery for the geriatric population reduced significantly. Second, the infection chances reduce while the recovery times speed up, and in most cases, the patient treated with ultrasound can get back to their lives the very next day. Lastly, the data from various researchers have favored the use of ultrasound treatment as one of the most favorable ways. Fifty-six random patients were selected out of 76 who were given ultrasound treatment; nearly 50% of the 56 patients observed improvement in motor function and tremors after three months. Further, 40% of the control group, i.e., close to 23 people, had reduced tremors post one year of such treatment, thereby showing the longevity of the done procedure.
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Essential Tremor Treatment with Ultrasound Market Challenges
The lack of trained professionals resulting in adverse and fatal side effects post-treatment is one of the grave market challenges.
The number of trained professionals within the said field to perform such procedures are limited. Moreover, there have been accidental cases being reported post the ultrasound therapy to treat essential tremors. As per the case study, the practitioner was not well trained and had performed the following procedure with misguided ultrasound energy, which resulted in the permanent loss of speech. Moreover, there are a very limited number of centers providing such treatment even in developed countries. Lastly, the cost of acquiring the said machine is extremely high, thereby making the cost of treatment close to $40,000, and the average disposable income per capita in the USA is $34,000. Hence, making the costs above the payable limits.
Essential Tremor Treatment with Ultrasound Market Competitive Landscape
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the essential tremor treatment with the ultrasound market. The top 10 essential tremor treatments with ultrasound market companies include:
● InSightec’s Ltd.
● Merz Pharma
● Neurocrine Biosciences.
● Sage Therapeutics
● Dopa Solutions.
● Abbott
● Siemens Healthcare
● Shenzen Midray
● Philips Healthcare
● Samsung Medicon
Essential Tremor Treatment with Ultrasound Market Developments
In February 2021, Exabalate 400, a product by InSightec’s received a nod from the regulatory body of China. The following will allow for the treatment of essential tremors and Parkinson’s disease using ultrasound surgery.
In December 2020, Philips and Insigtec went on to form a partnership to expand access to MR-guided focussed ultrasound. Moreover, InSightec’s Exablate Neuro platform, which focuses on sound waves, guided by MRI, to provide tremor relief, will be combined with Philips’ MR Ingenia Elition 3.0T, Ingenia 3.0T, and Ingenia 1.5T systems.
Key Takeaways
Geographically, North America held a dominant market share in the year 2020. It is owing to the steady increase in the cases of the following neurological disorder and the government’s focus and budget alignment to help in reducing the instances. However, Asia-Pacific is set to grow at a lucrative pace owing to the rise in cases of idiopathic tremors and the government’s budgetary allocation to develop robust medical infrastructure.
The technology of using non-invasive and single-time procedures with robust outcomes is one of the core drivers for the market. However, a lack of professionalism in the desired field of using and operating ultrasound, thereby resulting in substantial damage of other tissue, poses a grave market challenge.
A detailed analysis of the strengths, weaknesses, opportunities, and threats will be provided in our essential tremor treatment with an ultrasound market report.
Relevant Titles:
A. Ultrasound Devices Market
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