High Intensity Focused Ultrasound (HIFU) Market Estimated to Witness High Growth Owing to Growing Demand for Non-invasive Treatment Options

 

The High Intensity Focused Ultrasound (HIFU) market is estimated to be valued at US$ 112.7 Mn 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 therapeutic treatment option used majorly for oncological applications. HIFU uses high frequency sound waves to focus on specific areas of tissues deep inside the body without incisions or needles. HIFU treatment works by focusing ultrasonic energy at a specific target tissue, located deep inside the body without surgically exposing or cutting through the skin. This localized thermal energy causes tissues to coagulate and destroys the diseased/targeted tissues. HIFU treatments are used for applications such as prostate cancer, breast cancer, bone tumors, brain disorders, and other soft tissue cancers.

Market Dynamics:
The global HIFU market is witnessing growth owing to rising demand for minimally invasive and non-invasive treatment options. HIFU technology provides an alternative to invasive surgeries for certain conditions. The treatment does not require incisions or cutting through the skin which reduces postoperative pain and recovery time. Moreover, HIFU procedures have minimal risk of infections, scarring, and blood loss which improves its acceptance rate among patients seeking non-invasive treatment options. Additionally, increasing adoption of HIFU devices for aesthetic applications is also supporting market growth. However, high costs associated with HIFU devices and procedures may restrain market growth. Nevertheless, ongoing research and clinical trials to expand HIFU applications to newer areas is expected to create lucrative growth opportunities over the forecast period.

SWOT Analysis

Strength:
- Non-invasive procedure with minimal side effects compared to surgery
- Quick treatment and short recovery time
- No incisions or scarring from treatment
- Potentially lower cost compared to other treatment methods

Weakness:
- Limited to certain types of solid tumors in organs that can be visualized externally
- Requires expensive and specialized equipment which may not be widely available

Opportunity:
- Growing prevalence of cancer and technological advancements are widening the scope of applications
- Untapped growth potential in emerging economies due to rising healthcare investments

Threats:
- Stiff competition from alternative treatment methods like chemotherapy, radiation therapy and surgery
- Stringent regulatory framework for new medical devices and therapies
- Lack of skilled healthcare professionals for handling advanced HIFU equipment


Key Takeaways
The Global High Intensity Focused Ultrasound (HIFU) Market Size is expected to witness high growth, exhibiting a CAGR of 7.1% over the forecast period, due to increasing prevalence of cancer worldwide. Asia Pacific region is expected to be the fastest growing region due to growing healthcare expenditure and presence of major market players.

Regional analysis:
The Asia Pacific region holds the highest market share and is expected to grow at the fastest rate during the forecast period. Growth in this region can be attributed to factors such as increasing healthcare expenditures, rising disposable incomes, growing awareness regarding innovative medical technologies. China, Japan and India are some of the lucrative markets in this region.

Key players:
Key players operating in the High Intensity Focused Ultrasound (HIFU) market are Koninklijke Philips N.V., Sonic Concepts, Inc., Theraclion, 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. Major players are focusing on new product launches, partnerships and expansions to increase their market share.


Read more: https://www.rapidwebwire.com/high-intensity-focused-ultrasound-hifu-market-size-forecast/ 

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