Global HIFU Market Size By Application (Thermal Ablation, Non Thermal Ablation), By End-User (Hospitals, Specialty Clinics), By Geographic Scope And Forecast
Published on: 2024-08-07 | No of Pages : 320 | Industry : latest updates trending Report
Publisher : MIR | Format : PDF&Excel
Global HIFU Market Size By Application (Thermal Ablation, Non Thermal Ablation), By End-User (Hospitals, Specialty Clinics), By Geographic Scope And Forecast
HIFU Market Size And Forecast
HIFU Market size was valued at USD 425.19 Million in 2023 and is projected to reach USD 1.334.02 Million by 2030, growing at a CAGR of 17.70% from 2024 to 2030.
Increasing prevalence of prostate cancer and growing demand for non-invasive treatment option are the factors driving the market growth. The Global HIFU Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global HIFU Market Definition
High-intensity focused ultrasound (HIFU) is a very precise medical procedure that uses concentrated ultrasonic waves to heat and destroy diseased or damaged tissue through ablation. The temperature rises when ultrasonic vibrations are concentrated on a specific location, resulting in irreversible cell death in the affected tissue. Because it is less invasive, HIFU-assisted surgical procedures are preferred. HIFU is a new and rapidly expanding therapeutic approach that employs ultrasonic waves. Waves propagate across tissue media as energy carriers. HIFU is a non-invasive device that can deliver energy to particular destinations in the body across a medium of intervening tissues. HIFU offers great promise for tumor ablation, thrombolysis, hemostasis, and targeted drug/gene delivery. Cancer therapy is a major concern in both developed and poor countries. Focused ultrasonic surgery (FUS) is a non-invasive approach that could accurately ablate tumor lesions when paired with a high-intensity imaging system. The high-frequency ultrasound waves use for the therapy can also be used to treat prostate cancer. It is frequently used in interventional oncology because of its non-invasive nature, narrow treatment margins, and low complication rates.
HIFU systems have several advantages over traditional ultrasound systems, including faster surgery times and less bleeding. Furthermore, surgical procedures using these devices are frequently less expensive, less intrusive, and less uncomfortable. HIFU is a non-invasive treatment approach that treats a variety of medical ailments by using concentrated ultrasound pulses. Several factors impact the global HIFU market, contributing to its growth and acceptance. The increased frequency of cancer, particularly prostate, liver, breast, and uterine malignancies, is a significant driver of HIFU technology acceptance as a non-invasive therapy option. The worldwide aging population is connected with a rise in the prevalence of chronic illnesses, including cancer and other ailments treated with HIFU. The elderly frequently choose non-invasive therapies, which fuel the need for HIFU. Continuous technical improvements, such as excellent imaging capabilities, real-time monitoring, and more accuracy in targeting tissues, help drive the HIFU market by making the process more effective and safer.
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Global HIFU Market Overview
High-Intensity Focused Ultrasound (HIFU) represents a non-invasive medical technology gaining momentum in the global healthcare landscape. The market is propelled by the increasing demand for minimally invasive treatment options, alongside the growing awareness and acceptance of HIFU across various medical specialties. The escalating prevalence of chronic diseases, particularly cancer and neurological disorders, serves as a major driver, as HIFU provides precise and targeted therapy. However, regulatory challenges and the high initial setup costs pose significant restraints to market growth. The market presents substantial opportunities fueled by ongoing research and development activities, the expanding applications of HIFU in emerging economies, and a growing aging population.
Global HIFU MarketSegmentation Analysis
The Global HIFU Market is Segmented on the basis of Application, End-User, and Geography.
HIFU Market, By Application
- Thermal Ablation
- Oncology
- Neurosurgery
- Urology
- Orthopedics
- Cardiovascular
- Other Applications
- Non Thermal Ablation
- Non-thermal Ablation In Cancer
- Uterine Fibroids
- Neurological Disorders
- Cardiovascular
- Blood-brain Barrier
- Other Applications
To Get a Summarized Market Report By Application-
Based on Application, the market is divided into Thermal Ablation, and Non Thermal Ablation. HIFU has been investigated for the palliative treatment of painful bone metastases, aiming to alleviate pain by targeting and destroying nerve endings in the affected bone. HIFU is under scrutiny for its potential to treat certain neurological disorders, including essential tremor and Parkinson’s disease, by targeting specific areas in the brain to help alleviate symptoms. Moreover, HIFU has been employed as a treatment for prostate cancer, directing focused ultrasound to heat and destroy cancerous tissue in the prostate gland.
HIFU Market, By End-User
- Hospitals
- Specialty Clinics
- Laboratories
To Get a Summarized Market Report By End-User-
Based on End-User, the market is divided into Hospitals, Specialty Clinics, and Laboratories. The rising demand is also fuelled by the growing preference for non-surgical alternatives among both patients and healthcare professionals, as HIFU eliminates the need for incisions and reduces the risks associated with traditional surgical procedures. Furthermore, advancements in HIFU technology, such as real-time imaging and improved treatment planning, enhance its applicability in hospital settings, providing clinicians with more sophisticated tools for personalized patient care.
HIFU Market, By Geography
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
On the basis of Regional Analysis, the global HIFU Market is classified into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. In 2023, the Asia Pacific region will have a prominent presence and hold the major share of the global market. The rising prevalence of chronic diseases, such as cancer and neurological disorders, has heightened the demand for non-invasive and precise treatment options. High-Intensity Focused Ultrasound (HIFU), with its capability to target specific tissues while minimizing damage to surrounding areas, is emerging as a preferred therapeutic solution. Furthermore, the increasing aging population in the region has resulted in a higher incidence of age-related diseases, further driving the adoption of HIFU technology. The growing awareness among both healthcare professionals and patients regarding the benefits of HIFU, including reduced recovery times and a lower risk of complications, is contributing to its widespread acceptance. Additionally, advancements in technology and healthcare infrastructure in the Asia Pacific are promoting the implementation of HIFU for various medical applications, fostering market growth.
Key Players
The Global HIFU Market is highly fragmented with the presence of a large number of players in the market. The major players in the market are, Alpinion Medical System Co. Ltd, INSIGHTEC Ltd, Siemens Ltd, Haifu Medical Technology Co. Ltd, FUS Instruments, Medsonic Ltd, EDAP, SonaBlate Medical, Theraclion, Minyang Sonic Electronic Ltd, Philips, Eye Tech Care. This section provides company overview, ranking analysis, company regional and industry footprint, and ACE Matrix.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.
Company Market Ranking Analysis
The company ranking analysis provides a deeper understanding of the top 3 players operating the HIFU Market. takes into consideration several factors before providing a company ranking. The top three players are Profiund/Philips, Insightec Ltd, and EDAP. The factors considered for evaluating these players include the company’s brand value, product portfolio (including product variations, specifications, features, and price), company presence across major regions, product-related sales obtained by the company in recent years, and its share in total revenue. further studies the company’s product portfolio based on the technologies adopted or new strategies undertaken by the company to enhance its market presence globally or regionally.
Company Regional/Industry Footprint
The company’s regional section provides geographical presence, regional-level reach, or the respective company’s sales network presence. For instance, Profiund/Philips, Insightec Ltd, and EDAP have a presence globally i.e., in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Apart from this, the industrial footprint section provides a cross-analysis of industry verticals and market players that gives a clear picture of the company landscape concerning the industries they serve their products. The product portfolio of the companies is classified in terms of their diversification as well as the number of products/services that are available. The geographic reach and the market penetration are determined considering the penetration of the company’s products and services in various geographical regions and industries.
Ace Matrix
This section of the report provides an overview of the company evaluation scenario in the global HIFU Market. The company evaluation has been carried out based on the outcomes of the qualitative and quantitative analyses of various factors such as product portfolios, technological innovations, market presence, revenues of companies, and the opinions of primary respondents.
Report Scope
REPORT ATTRIBUTES | DETAILS |
---|---|
Study Period | 2020-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2020-2022 |
UNIT | Value (USD Million) |
Key Companies Profiled | Alpinion Medical System Co. Ltd, INSIGHTEC Ltd, Siemens Ltd, Haifu Medical Technology Co. Ltd, FUS Instruments, Medsonic Ltd, EDAP. |
Segments Covered |
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Customization Scope | Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
Research Methodology of Market Research
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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