The high intensity focused ultrasound therapy market size is projected to reach US$ 924.07 million by 2031 from US$ 525.11 million in 2023. The market is expected to register a CAGR of 7.3% during 2023–2031. The growing applications of therapeutic ultrasound and significant research and development are likely to remain key trends in the market.
The high intensity focused ultrasound market is driven by increasing awareness of early disease diagnosis and favorable regulatory scenarios for high-intensity focused ultrasound devices. Additionally, an increase in the elderly population and increased demand for high intensity focused ultrasound therapy are driving market growth. The increasing development of medical technology and its diverse applications in treating uterine fibroids, neurological diseases, aesthetic applications, and others have fueled the market's growth. Additionally, new applications such as gynecology and obstetrics, neurosurgery, urinary tract disease imaging, and removal of excess subcutaneous fat using high-energy sound waves would further drive the growth of the high-intensity focused ultrasound market in the next five years. However, stringent regulatory guidelines for approving innovative high intensity focused ultrasound technologies, increasing pricing pressure, and unfavorable reimbursement scenarios are the significant challenges market participants face, restraining the growth of this market.
High intensity focused ultrasound is a rapidly spreading therapeutic approach using ultrasound waves. Waves propagate through tissue media as energy carriers. High intensity focused ultrasound offers high potential for tumor ablation, hemostasis, thrombolysis, and targeted drug delivery. Cancer treatment is a critical issue in both developed and developed countries. The high frequency ultrasound waves used in therapy are also used to treat prostate cancer. It is widely used in interventional oncology due to its non-invasiveness, narrow treatment limits, and low complication rates. High intensity focused ultrasound systems have several advantages over traditional ultrasound systems, including shorter operative times and less bleeding. The high occurrence of cardiovascular disease (CVD) and cancer cases, the rapidly growing aging population, the increasing product launches, a growing number of clinical trials on the applications of high-intensity focused ultrasound, and the growing emphasis of key players on the technologically advanced systems are the key factors driving market growth. Additionally, surgical procedures using these devices are often less expensive, less intrusive, and less uncomfortable. The lack of skilled professionals and limitations associated with high intensity focused ultrasound as a technology inhibit high-intensity focused ultrasound market growth.
Urolithiasis or kidney stones lead to severe urinary tract infections with the formation of calcifications in the bladder and uterus. Owing to the increasing amount of lifestyle diseases, kidney stones have become a common cause. Around one in 1,000 people worldwide are affected, with the risk ratio for men and women being 3:1. According to a report by the Lancet Commission, the number of new prostate cancer cases each year is expected to rise from 1.4 million to 2.9 million in 2020 and 2040 respectively. An 85% increase in prostate cancer deaths per year would increase the total from 375,000 in 2020 to nearly 700,000 in 2040. Rising temperatures because of climate change will lead to a rise in kidney stone cases over the next seven decades, even if measures are taken to reduce greenhouse gas emissions, according to a new study by researchers at the Children's Hospital of Philadelphia (CHOP). Therefore, rising cases of prostate cancer and kidney stones are expected to drive market growth.
The growth of the hospital industry in developing countries is generating better opportunities for the key market players for expanding their business, which is likely to be a key enabler of the market growth during the forecast period. The Indian hospital sector expanded at a CAGR of 16–17% over 2017–2022. India also has a large pool of doctors and medical staff, which would potentially contribute to the growth of this industry to the higher level. Most of the major players in the high-intensity focused ultrasound therapy market focus on emerging countries such as India and China because of the presence of a large number of cancer patients and growing medical tourism in these countries. Many of the emerging countries are the preferred location for medical tourism. Thus, factors such as low cost and waiting time of treatment, and availability of advanced technologies is likely to provide growth opportunities for the high intensity focused ultrasound therapy market.
Key segments that contributed to the derivation of the high intensity focused ultrasound therapy market analysis are modality, method, application, and end user.
The geographic scope of the high intensity focused ultrasound therapy market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The North America high intensity focused ultrasound market is characterized by the rising prevalence of cancer, uterine fibroids, and others, as well as the increasing awareness regarding the medical condition and the presence of supportive associations in the region. According to the American Society of Clinical Oncology, 1,414,259 people worldwide were diagnosed with prostate cancer as of February 2022. According to the National Kidney Foundation, ~10% of people in the US are expected to have kidney stone at some point in their lives. In addition, technological advancements of the noninvasive treatment of cancer are likely to be a major growth stimulator for the high-intensity focused ultrasound therapy market in North America.
The regional trends and factors influencing the High Intensity Focused Ultrasound Therapy Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses High Intensity Focused Ultrasound Therapy Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 525.11 Million |
| Market Size by 2031 | US$ 924.07 Million |
| Global CAGR (2023 - 2031) | 7.3% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Modality
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The High Intensity Focused Ultrasound Therapy Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the High Intensity Focused Ultrasound Therapy Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The high intensity focused ultrasound therapy market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the high intensity focused ultrasound therapy market are listed below:
The “High Intensity Focused Ultrasound Therapy Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
North America region dominated the high intensity focused ultrasound therapy market in 2023.
The driving factors impacting the high intensity focused ultrasound therapy market are growing cancer prevalence around the globe, rising incidences of kidney stone and prostate diseases, and elevating preference for noninvasive procedures.
Growing applications of therapeutic ultrasound and significant research and development are likely to act as future trends for the high intensity focused ultrasound therapy market.
Image Guided Therapy, EDAP, and Sonacare Medical are the leading market players in the high intensity focused ultrasound therapy market.
US$ 924.07 million would be the estimated value of the high intensity focused ultrasound therapy market by 2031.
7.3% is the expected CAGR of the high intensity focused ultrasound therapy market.