by The global High Intensity Focused Ultrasound (HIFU) Market is estimated to be valued at US$ 112.7 Mn or Million in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
High intensity focused ultrasound (HIFU) is a non-invasive surgical procedure that utilizes focused ultrasound to thermally ablate and destroy targeted abnormal tissues without damaging surrounding structures. It is used to treat both benign and cancerous tumors, painful bone metastases and essential tremor. The key advantages of HIFU include minimal invasion, rapid recovery, minimal side effects and high precision.
Market key trends:
One of the key trends in the HIFU market is the increasing adoption of HIFU therapy for various cancer treatments. Several studies have demonstrated HIFU’s effectiveness in treating prostate, liver and pancreatic cancers with minimal side effects. Moreover, major players are increasingly focusing on developing HIFU devices with advanced features such as real-time imaging integration, larger treatment areas and improved thermal monitoring capabilities to enable more effective tumor ablation. Furthermore, ongoing clinical research evaluating HIFU’s potential in treating other cancer types such as breast and brain tumors is also fueling market growth.
Market key trends:
One of the key trends in the High Intensity Focused Ultrasound (HIFU) market is the increasing adoption of non-invasive cosmetic and medical procedures. HIFU is gaining popularity as a non-invasive treatment alternative for various conditions such as cancer treatment, prostate diseases, and skin tightening procedures. The non-invasive nature of HIFU procedures allows for shorter recovery time and less pain and scarring compared to conventional invasive surgeries.
SWOT Analysis
Strength: HIFU is a non-invasive procedure which causes minimal damage to surrounding tissues. It allows for localized treatment of tumors without affecting surrounding healthy tissues.
Weakness: High capital investment required for HIFU devices limits its adoption. HIFU procedures also require experienced physicians for operation.
Opportunity: Rising geriatric population prone to diseases like cancer and urological disorders creates demand for minimally invasive treatment options like HIFU. Growing medical tourism also boosts market growth.
Threats: Stringent regulatory approval process delays market entry of new players. Slow rate of reimbursement policies impact market revenue.
Key Takeaways
The Global High Intensity Focused Ultrasound (HIFU) Market Size is expected to witness high growth at a CAGR of 7.1% over the forecast period, due to increasing demand for minimally invasive medical procedures.
The Asia Pacific region is expected to grow at the fastest rate owing to prevalence of urological disorders, rising medical tourism, and increasing healthcare expenditure. China dominates the APAC HIFU market supported by large patient base and favorable government policies promoting non-invasive procedures.
Key players operating in the High Intensity Focused Ultrasound (HIFU) market are Koninklijke Philips N.V., Â Sonic Concepts, Inc., Â Theraclion, Â Sonablate, Alpinion Medical Systems Co., Ltd., Shanghai Carnation Medical Technology Co., Ltd., Insightec, FUS Instruments Inc., Mianyang Sonic Electronic, Profound Medical, Merz Pharmaceuticals GmbH, Image Guided Therapy, and Promedica Bioelectronics s.r.l.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
