Article -> Article Details
Title | High Intensity Focused Ultrasound (HIFU) Therapy Market Analysis and Trends 2023 |
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Category | Fitness Health --> Addictions |
Meta Keywords | High Intensity Focused Ultrasound (HIFU) Therapy Market |
Owner | vinit |
Description | |
High Intensity Focused Ultrasound (HIFU) therapy is
essentially indicated for patients with different kinds of tremors and cancer
patients. This technique is based on ultrasound and helps in pinpointing the
exact cell that is involved in the growth of the tumor. This non-invasive therapy demonstrates great potential in
the areas such as the tumor ablation, hemostasis, thrombolysis as well as
targeted drug/gene delivery. Owing to the non-invasive nature of HIFU
therapy it is widely preferred among patients undergoing treatments of various
chronic diseases such as prostate cancer, uterine fibroids, and neurological
disorders. HIFU technology is also extensively used in the development
of cosmetic medicines. Moreover, HIFU therapy is broadly used in the field of
interventional oncology due to its sharp treatment margins and low complication
rates. The high intensity focused ultrasound (HIFU) therapy market
is growing pervasively over the past few years, primarily due to the rising
prevalence of different types of cancers. Moreover, the wide range of
applications of HIFU technology and the increasing development in medical
technology is accelerating the market on the global platform. According to a recent study report published by Market
Research Future (MRFR), the global high
intensity focused ultrasound (HIFU) therapy market will garner
significant accruals by 2023, registering a CAGR of 7.8% throughout the
forecast period (2017-2023). Additional factors that are helping the HIFU therapy market
to grow further include increasing investments in the burgeoning healthcare
sector and the shift towards HIFU technology. Substantial investments that are
made in the R&D activities to bring the betterment in this technology and
the equipment are propelling the growth of the global high intensity focused
ultrasound therapy market. Conversely, factors such as the high cost and the side
effects associated with HIFU therapy are impeding the growth of the market.
Nevertheless, more advancements in the technology that are expected to happen
in the upcoming years will support market growth, lowering the cost of HIFU
therapy. Global High Intensity Focused Ultrasound Therapy Market –
Segments For ease of understanding, the market is segmented into five
key dynamics: – Bottom of Form By Modality: Therapeutic Ultrasound,
Hemostasis, Lithotripsy, Thrombolysis, and Immunomodulation among others. By Method: Non-Invasive and
Minimal-Invasive Method among others. By Application: Uterine Fibroids,
Prostate Cancer, Neurological Disorders, and Cosmetic Medicine among others. By End-users: Diagnostic Centers,
Hospitals, and Research Centers among others. By Regions: Europe, Asia Pacific, North
America, and the Rest-of-the-World. Global High Intensity Focused Ultrasound Therapy Market –
Geographical Analysis The North America region, heading with the largest numbers
of cancers patients is expected to retain its dominance over the global HIFU
therapy market. Factors such as the presence of numerous technology providers
and caregivers substantiate the growth of the market. Moreover, high healthcare
expenditures and substantial investments in the R&D activities to being
betterments in the therapy drive the growth of the HIFU therapy market in the
region. Owing to the augmenting demand for minimally invasive
therapy to treat the chronic diseases such as cancer, the HIFU therapy market
in the North American region is expected to grow at a significant rate of CAGR
throughout the forecast period, creating a large revenue pocket by 2023. The HIFU therapy market in the European region accounts for
the second-largest market, globally. Factors such as the increasing demand for
painless therapies among the rising number of cancer and other chronic diseases
patients predominantly drive the growth of the regional market. Moreover, the rapidly developing healthcare infrastructure
and increasing healthcare expenditure, and the growing adoption of HIFU therapy
for the treatment of chronic diseases drive the growth of the HIFU therapy
market in the region. Furthermore, favorable governmental support and
initiatives drive the growth of the regional market extensively. The Asia Pacific HIFU therapy market is rapidly emerging as
a promising market, globally. Factors such as the enormous advancements in the
technology alongside the wide uptake of advanced technologies in the medical
science drive the growth of the market in the region. Countries in the Asian
region especially provide immense growth opportunities for the HIFU therapy
market, accounting over half of the world’s total population. Further Private
equity firms and venture capitalists are increasingly investing in the HIFU
therapy market in countries, such as India, China, and Japan. Global High Intensity Focused Ultrasound Therapy Market –
Competitive Landscape Highly competitive, the high intensity focused ultrasound
therapy market appears to fragmented characterized by the presence of several
small and large-scale players. Matured players incorporate various strategic
initiatives such as acquisition, partnership, collaboration, expansion, and
product launch to gain an edge over their competitors and thus to sustain their
position in the market. The structure of the market is changing due to the
increasing partnerships between private practice centers and technology
providers. Because of the growing competition in the market, multinational
companies are acquiring small yet promising companies operating the developing
markets. Major Players Key players leading the global high intensity focused
ultrasound market include EDAP TMS, Image Guided Therapy, SonaCare Medical,
LLC, Chongqing Hailu Medical Technology Co., Ltd, Theraclion, Koninklijke
Philips N.V., Mianyang Sonic Electronic Ltd., Shanghai A&S Co. LTD,
Insightec, FUS Instruments, and Alpinion Medical Systems among others. |