High Intensity Focused Ultrasound Therapy Market to 2027 - Image Guided Therapy, EDAP, Sonacare Medical and LLC, Koninklijke Philips N.V.

Publisher: The Insight Partners

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.

Get Sample PDF Copy at https://www.theinsightpartners.com/sample/TIPHE100001384/        

Market Insights

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. Bladder cancer is among one of the bladder disease which is common, as per the American Cancer Society the statistics for 2018 were estimated that approximately 81,000 cases will be diagnosed with the bladder cancer in US. Additionally, as per The Kidney Foundation of Canada is estimated that 70% - 80% of the cases are diagnosed with the calcium oxalate stones. In addition, as per an article published by the European Medical Journal it is stated that the prevalence for the urinary tract stones across the world ranges approximately from 4% to 20%. Moreover, it is estimated that the rise in the cases may witness the increase near about from 40% to 50% by 2050. The article also stated that, in USA the prevalence of nephrolithiasis was approximately 10% in men and 7% in women.

Growing Hospital Industry in Developing Nations

The growing hospitals industry in the developing countries in the Asia Pacific region, are creating better opportunities for the major market players to expand their business. This is a major reason for the market growth in the forecast period. According to the India Brand Equity Foundation, the hospital industry in India is expected to reach USD 132.84 billion by 2022 from USD 61.79 in 2017. The Indian hospital sector is expected to expand at a CAGR of 16-17% over 2017–2022. India also has a large pool of doctors and medical staff who have the potential to grow the industry to an even higher level.

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.

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.

Global high-intensity focused ultrasound therapy market, based on the modality is segmented into therapeutic ultrasound, hemostasis, and others. 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, others segment is expected to grow at significant rate, in the forecast period 2019 to 2027 because lithotripsy, thrombolysis, immunomodulation, and among others medical procedures are increasing.

The market for High-Intensity Focused Ultrasound therapy is expected to grow, owing to factors such as growing cancer prevalence across the globe, rising incidences of kidney stone and prostate diseases, rising preference for non-invasive procedures. In addition, growing hospital industry in developing nations are likely to have a positive impact on the growth of the market in the coming years.

The major players operating in the High-Intensity Focused Ultrasound therapy market include Image Guided Therapy, EDAP, 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, Insightec Ltd., Alpinion Medical Systems Co., Ltd., FUS Instruments among others. The market has witnessed various organic as well as inorganic developments during recent years in the High-Intensity Focused Ultrasound therapy market. 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.

Purchase this Premium Report at https://www.theinsightpartners.com/buy/TIPHE100001384/  

Contact Us

Contact Person: Content Team

Phone: +1-646-491-9876

Email Id: sales@theinsightpartners.com