High-intensity Focused Ultrasound (HIFU) Therapy Market Overview:
The global high-intensity focused ultrasound (HIFU) therapy market was valued at $81,000 thousand in 2017, and is estimated to reach at $398,724 thousand by 2025, registering a CAGR of 21.8% from 2018 to 2025. High-intensity focused ultrasound (HIFU) therapy is a medical procedure, which involves the application of focused ultrasonic waves to eliminate diseased tissue through ablation. When ultrasonic waves are focused on the target tissue, the temperature increases, which leads to irreversible cell death of the damaged tissue. Surgical procedures involving HIFU devices are preferred, as they are minimally invasive.
The high-intensity focused ultrasound (HIFU) therapy market is driven by rise in awareness for early disease diagnosis and favorable regulatory scenario towards HIFU devices. Furthermore, increase in elderly population and upsurge in demand for HIFU therapy augment the market growth. However, dearth of skilled professionals and limitations associated with HIFU as a technology are some of the factors that restrain the high-intensity focused ultrasound (HIFU) therapy market growth. On the contrary, the presence of untapped market in the developing nations is expected to provide new opportunities for the key players.
Prostate cancer application dominated the high-intensity focused ultrasound (HIFU) therapy market in 2017, owing to the increased adoption of HIFU devices used to treat this disease throughout the world.
Rise in focus of vendors on the emerging markets, such as Asia-Pacific and LAMEA, is expected to boost the market growth. Asia-Pacific is projected to witness significant growth in future, owing to increase in R&D investment and surge in disease diagnosis awareness. Furthermore, this region presents remarkable opportunities for the venture capitalists and investors, as the developed markets are comparatively saturated.
The report provides an extensive competitive analysis and profiles of the key market players such as Chongqing Haifu Medical Technology Co., Ltd., EDAP TMS S.A., SonaCare Medical, LLC., ILJIN Holdings Co., Ltd. (ALPINION MEDICAL SYSTEMS Co., Ltd.), Image Guided Therapy S.A., INSIGHTEC Ltd., Theraclion SA, Merz Pharmaceuticals GmbH (Ulthera, Inc.), Profound Medical Corp., and Shanghai A&S Technology Development Co., Ltd. The other players in the value chain (not included in the report) include Sonic Concepts, Inc., Mianyang Sonic Electronic Ltd., and FUS Instruments.
Key Benefits For Stakeholders
- This report entails a detailed quantitative analysis of the current market trends from 2017 to 2025 to identify the prevailing opportunities along with strategic assessment of global high-intensity focused ultrasound (HIFU) therapy market.
- Market size and estimations are based on comprehensive analysis of the applications and developments in the industry.
- A qualitative analysis based on innovative products and devices facilitate the strategic business planning.
- The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the high-intensity focused ultrasound (HIFU) therapy industry.
High-intensity Focused Ultrasound (HIFU) Therapy Market Report Highlights
Key Market Players
Chongqing Haifu Medical Technology Co., Ltd, Profound Medical Corp, Theraclion SA, INSIGHTEC Ltd, Image Guided Therapy S.A, SonaCare Medical, LLC, ILJIN Holdings Co., Ltd. (ALPINION MEDICAL SYSTEMS Co., Ltd.), Shanghai A&S Technology Development Co., Ltd, EDAP TMS S.A, Merz Pharmaceuticals GmbH (Ulthera, Inc.)
HIFU is one of the most emerging medical imaging technologies used for treatment of different diseases such as cancer. The growth of the HIFU therapy market is propelled by upsurge in geriatric population and increase in prevalence of chronic conditions such as cancer in the populace. Furthermore, increase in awareness about early disease diagnosis and favorable regulatory scenario with respect to HIFU therapy devices are anticipated to boost the market growth in the forecast period.
The use of HIFU modalities is highest in Europe, owing to availability of HIFU devices, increased awareness, and rise in expenditure by the government on healthcare, followed by North America and Asia-Pacific. In addition, medical device manufacturing companies have focused on expanding their presence in the emerging economies, which is anticipated to drive the market growth.