High Intensity Focused Ultrasound Therapy Market Scope 2031
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.
High Intensity Focused Ultrasound Therapy Market Analysis
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 Therapy Market Overview
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.
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High Intensity Focused Ultrasound Therapy Market: Strategic Insights
Market Size Value in US$ 417.98 Million in 2018 Market Size Value by US$ 755.46 Million by 2027 Growth rate CAGR of 7.1% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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High Intensity Focused Ultrasound Therapy Market: Strategic Insights
| Market Size Value in | US$ 417.98 Million in 2018 |
| Market Size Value by | US$ 755.46 Million by 2027 |
| Growth rate | CAGR of 7.1% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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High Intensity Focused Ultrasound Therapy Market Drivers and Opportunities
Rising Incidences of Kidney Stone and Prostate Diseases to Favor Market
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.
Growing Hospital Industry In Developing Countries
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.
High Intensity Focused Ultrasound Therapy Market Report Segmentation Analysis
Key segments that contributed to the derivation of the high intensity focused ultrasound therapy market analysis are modality, method, application, and end user.
- Based on modality, the high intensity focused ultrasound therapy market is categorized into therapeutic ultrasound, hemostasis, and others. The therapeutic ultrasound segment held a largest market share in 2023.
- By method, the market is bifurcated into noninvasive and minimally invasive. The noninvasive segment held the larger share of the market in 2023 and is anticipated to register higher CAGR during 2021–2031.
- In terms of application, the market is segmented into uterine fibroids treatment, prostate cancer treatment, and others. The uterine fibroids treatment segment held a significant share of the market in 2023.
- Based on end user, the high intensity focused ultrasound therapy market is segmented into hospitals, research centers, and diagnostic centers. The hospital segment held a largest market share in 2023 and is projected to register the highest CAGR during the forecast period.
High Intensity Focused Ultrasound Therapy Market Share Analysis by Geography
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.
High Intensity Focused Ultrasound Therapy Market Report Scope
High Intensity Focused Ultrasound Therapy Market News and Recent Developments
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:
- SONIRE Therapeutics Inc. announced that NHK WOLRD’s “Medical Frontiers” would focus on HIFU therapy for pancreatic cancer, and the next-generation HIFU (High-Intensity Focused Ultrasound) therapy device, which has been developed by SONIRE, will be introduced in the program. (Source: SONIRE Therapeutics Inc., News, December 2023)
- Theraclion, an innovative company developing a scalable robotic platform for non-invasive ultrasound therapy, announced that it launched the first treatments for its FDA-approved pivotal study on the treatment of varicose veins using SONOVEIN in the US. (Theraclion, Press Release, October 2023)
- Theraclion, announced a phase-2 collaboration with the University of Virginia Cancer Center. This extends the investigation of combining HIFU with immunotherapy from late-stage to that of early-stage breast cancer. If successful, such a protocol could open a new way for treatment. (Source: Theraclion, Press Release, June 2021)
High Intensity Focused Ultrasound Therapy Market Report Coverage and Deliverables
The “High Intensity Focused Ultrasound Therapy Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- High intensity focused ultrasound therapy market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- High intensity focused ultrasound therapy market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- High intensity focused ultrasound therapy market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the high intensity focused ultrasound therapy market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Modality ; Method ; Application ; End User , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
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.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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