Market
Highlights
High-intensity focused ultrasound
(HIFU) therapy is a novel, emerging, and therapeutic modality technology. It
involves propagation of ultrasound waves through cancerous tissues that kills
cancer cells. HIFU is a minimal invasive technique and is performed with
real-time imaging by ultrasound or MRI to enable treatment targeting and
monitoring. This technology have been extensively exploited for the treatment
of prostate, liver, pancreatic, and bladder cancer. The American Cancer Society
estimated that about 161,360 new cases of prostate cancer have been registered
in the US in 2017. Moreover, the number of people living beyond a cancer
diagnosis were nearly 14.5 million in 2014 and is expected to rise to over 19
million by 2024. Moreover, increasing development in the medical technology and
its wide range of application used in the treatment of uterine fibroids,
neurological disorders, cosmetic medicine and others fuel the growth of this
market. However, high cost of the treatment and certain adverse effects are
likely to restrain the market growth over the forecasted period.
The global HIFU treatment market is expected to
grow at a CAGR of 7.8% during the forecast period 2017-2023.
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Major Players in High intensity focused
ultrasound (HIFU) therapy Market
Some of the key players in the global
market are Image Guided Therapy, EDAP TMS, SonaCare Medical, LLC,
Theraclion, Chongqing Haifu Medical Technology Co., Ltd, Koninklijke Philips
N.V., Shanghai A&S Co. LTD, Mianyang Sonic Electronic Ltd., Insightec,
Alpinion Medical Systems, and FUS Instruments.
Regional Analysis
The global high intensity focused
ultrasound (HIFU) therapy market consists of four regions including the
Americas, Europe, Asia Pacific, and the Middle East & Africa.
The Americas dominates the
global HIFU therapy market. North America is the largest market owing
to rising prevalence of cancer cases in the American counties and
well-developed technology in this region contributes majorly to the growth of
this market.
Europe accounts for the second largest
share of the global HIFU therapy market. In the Europe, wide demand for cancer
diseases treatment methods drives the market growth. Moreover, increasing
expenditure in the healthcare domain and investment in research & development
in developing new treatment methods for cancer diseases will fuel to the growth
of this market.
Asia Pacific is the fastest growing
market in the world. India is the largest potential market due to increasing
investments in healthcare services and increasing adaption of new technologies
used for diagnosis and treatment methods.
The Middle East & Africa is
expected to witness a steady growth due to rising demand for primary healthcare
services such as new and advanced treatment methods in healthcare domain.
Segmentation
The global high intensity focused
ultrasound (HIFU) therapy market has been segmented on the basis of modality,
which comprises of therapeutic ultrasound, hemostasis, lithotripsy,
thrombolysis, immunomodulation, and others. On the basis of the methods, the
market is segmented into non-invasive method and minimal invasive method. On
the basis of applications, the market has been segmented into prostate cancer,
uterine fibroids, neurological disorders, cosmetic medicine, and others. On the
basis of end users, the market has been segmented into diagnostic centers,
hospitals, research centers, and others.
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