HIFU technology is also extensively used in the development of cosmetic medicines. Moreover, HIFU therapy is broadly used in the field of interventional oncology due to its sharp treatment margins and low complication rates.
According to a recent study report published by Market Research Future (MRFR), the global high intensity focused ultrasound (HIFU) therapy market will garner significant accruals by 2023, registering a CAGR of 7.8% throughout the forecast period (2017-2023).
High-Intensity Focused Ultrasound (HIFU) therapy is essentially indicated for patients with different kinds of tremors and cancer patients. This technique is based on ultrasound and helps in pinpointing the exact cell that is involved in the growth of the tumor.
Global High Intensity Focused Ultrasound Therapy Market – Geographical Analysis
The North America region, heading with the largest numbers of cancer patients is expected to retain its dominance over the global HIFU therapy market. Factors such as the presence of numerous technology providers and caregivers substantiate the growth of the market. Moreover, high healthcare expenditures and substantial investments in the R&D activities to being betterments in the therapy drive the growth of the HIFU therapy market in the region.
Owing to the augmenting demand for minimally invasive therapy to treat chronic diseases such as cancer, the HIFU therapy market in the North American region is expected to grow at a significant rate of CAGR throughout the forecast period, creating a large revenue pocket by 2023.
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The HIFU therapy market in the European region accounts for the second-largest market, globally. Factors such as the increasing demand for painless therapies among the rising number of cancer and other chronic diseases patients predominantly drive the growth of the regional market.
Global High Intensity Focused Ultrasound Therapy Market – Competitive Landscape
Highly competitive, the high intensity focused ultrasound therapy market appears to fragmented characterized by the presence of several small and large-scale players. Matured players incorporate various strategic initiatives such as acquisition, partnership, collaboration, expansion, and product launch to gain an edge over their competitors and thus to sustain their position in the market.
Major Players
Key players leading the global high intensity focused ultrasound market include EDAP TMS, Image Guided Therapy, SonaCare Medical, LLC, Chongqing Hailu Medical Technology Co., Ltd, Theraclion, Koninklijke Philips N.V., Mianyang Sonic Electronic Ltd., Shanghai A&S Co. LTD, Insightec, FUS Instruments, and Alpinion Medical Systems among others.
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