The global high-intensity focused ultrasound therapy market is US$ 417.98 Mn in 2018 and is predicted to grow at a CAGR of 7.1% during the forecast period 2019 – 2027, to reach US$ 755.46 Mn by 2027.
Asia Pacific is the fastest growing geographic market and is expected to be the significant revenue contributor in forecast period. The region has witnessed several government support in countries such as South Korea for cancer awareness and other initiatives, as well as increasing cancers such as prostate cancer. Various organizations in India have been working toward proving better treatment as well as services for cancer. Indian Cancer Society is a voluntary, nonprofit, national organization for awareness, detection, cure, and survivorship of those affected with this disease and work to fight against cancer in India.
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Rising Incidences of Kidney Stone and Prostate Diseases
Cancer is a genetic disorder caused due to definite variations in genes that govern cell functioning, particularly affecting their growth and replication. The rise in the prevalence for the prostate disease or cancer in the men are driving the market for the High-intensity focused ultrasound therapy (HIFU). The prevalence of the disease increase as the age grows and as per the International Prostate Symptom Score US has highest prevalence for the benign prostatic hyperplasia which is attributed nearly around 42%. Along with these diseases the prevalence for the bladder disease are also rising.
Global Manufacturers of High Intensity Focused Ultrasound Therapy Market Report Are:
Image Guided Therapy
Sonacare Medical and LLC
Koninklijke Philips N.V.
Chongqing Haifu Medical Technology Co., Ltd.
Shanghai A & S Science Technology Development Co.,Ltd
Mianyang Sonic Electronic
Alpinion Medical Systems Co., Ltd.
Modality Type Insights
The global high-intensity focused ultrasound therapy market by modality was led by therapeutic ultrasound segment. In 2018, the therapeutic ultrasound segment held a largest market share of the high-intensity focused ultrasound therapy market. This segment is also expected to dominate the market in 2027 because it increases the healing rates, tissue relaxation, and its heating, local blood flow, and scar tissue breakdown. Moreover, the use of ultrasonic energy for therapy has been expanded and approved for surgical tissue cutting and hemostasis, uterine fibroid ablation, cataract removal, transdermal drug delivery, and bone fracture healing, and others.
Growth strategies through several organic and inorganic such as approvals, collaborations, and partnerships have been witnessed in the market of high-intensity focused ultrasound therapy. For instance, in July 2019, Insightec received the FDA approval to the Exablate Neuro, it has focused ultrasound device for performing incision-less thalamotomy guided by MR imaging.
Also, during April 2016, SonaCare Medical and Invivo entered into marketing alliance. As part of this strategic partnership, SonaCare Medical has licensed from Invivo their UroNav fusion software, which engineers from both companies have collaborated on to achieve compatibility with the Sonablate planning system.
High-Intensity Focused Ultrasound Therapy – MARKET SEGMENTATION
As per the report by the Department of Industrial Policy and Promotion (DIPP) the hospital and diagnostic centers have attracted Foreign Direct Investment (FDI) worth US$ 6.09 billion from the year 2000 to 2019. Furthermore, the healthcare sector in India witnessed 23 deals worth US$ 679 million in the year 2018.
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