High Intensity Focused Ultrasound Therapy Market 2020 by Technology, Trends, Share, Revenue, Top Companies, Segmentation to 2027
The High-Intensity Focused Ultrasound Therapy market was valued at US$ 417.98 million in 2018 and it is projected to reach US$ 755.46 million by 2027; it is expected to grow at a CAGR of 7.1% from 2019 to 2027.
The high intensity focused ultrasound is a noninvasive therapeutic technique that utilizes nonionizing ultrasonic waves to heat the tissues. HIFU can be used to increase the flow of blood or lymph, and the treatment aims to kill cancer cells with high-frequency sound waves. However, it doesn't pass through thick bones, therefore, it is not suitable for every cancer. Moreover, the machine used in this treatment gives off high-frequency sound waves. The growth of the High-Intensity Focused Ultrasound Therapy in healthcare market is attributed to the growing cancer prevalence around the globe, rising incidences of kidney stone and prostate diseases, elevating preference for noninvasive procedures. On the other hand, factor such as side effects associated with HIFU treatment are limiting the growth of the market.
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The major players operating in the High-Intensity Focused Ultrasound therapy market include Image Guided Therapy, EDAP, Sonacare Medical and LLC, Koninklijke Philips N.V., Chongqing Haifu Medical Technology Co., Ltd., Shanghai A & S Science Technology Development Co.,Ltd, Mianyang Sonic Electronic, Insightec Ltd., Alpinion Medical Systems Co., Ltd., FUS Instruments among others. The market has witnessed various organic as well as inorganic developments during recent years in the High-Intensity Focused Ultrasound therapy market. For instance, in July 2019, Insightec received the FDA approval to the Exablate Neuro, it has focused ultrasound device for performing incision-less thalamotomy guided by MR imaging.
The market for High-Intensity Focused Ultrasound therapy is expected to grow, owing to factors such as growing cancer prevalence across the globe, rising incidences of kidney stone and prostate diseases, rising preference for non-invasive procedures. In addition, growing hospital industry in developing nations are likely to have a positive impact on the growth of the market in the coming years.
The High-Intensity Focused Ultrasound Therapy in healthcare market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide.
Growing Applications of High-Intensity Focused Ultrasound Therapy in Healthcare to Drive High-Intensity Focused Ultrasound Therapy in Healthcare Market Growth
High-intensity focused ultrasound (HIFU) therapy is a treatment procedure that aims to kill cancer cells with highfrequency sound waves. It is useful in treating localized tumors (breast and prostate cancer cases) or a part of a large tumors.
Cancer is one of the key causes of deaths across the globe and is affecting the quality of life to a large scale. Thus, cancer would be burden on society if not diagnosed and treated on time. According to the WHO in 2018, cancer was a cause of ~9.6 million deaths around the globe were due to cancer. Furthermore, the National Cancer Institute predicted that ~1,735,350 new cancer cases will be diagnosed in the US in 2018.
Additionally, cancer is a common disease condition in European countries as well. As per the Cancer Research UK, in 2016, ~163,444 deaths in the UK were due to cancer.
Furthermore, APAC is also facing the problem of growing prevalence of cancer. The region reports Japan, Taiwan, Singapore, South Korea, Malaysia, Thailand, China, Philippines, Sri Lanka, Vietnam, Indonesia, Mongolia, India, Laos, and Cambodia as the top 15 countries with cancer prevalence. According to the National Institute of Cancer Prevention and Research (NICPR), the total deaths due to cancer in India in 2018 were 784,821.
Global high-intensity focused ultrasound therapy market, based on the modality is segmented into therapeutic ultrasound, hemostasis, and others. In 2018, the therapeutic ultrasound segment held a largest market share of the High-Intensity Focused Ultrasound therapy market. This segment is also expected to dominate the market in 2027 because it increases the healing rates, tissue relaxation, and its heating, local blood flow, and scar tissue breakdown. Moreover, others segment is expected to grow at significant rate, in the forecast period 2019 to 2027 because lithotripsy, thrombolysis, immunomodulation, and among others medical procedures are increasing.
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