Global High-Intensity Focused Ultrasound Devices Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Rising prevalence of cancer, neurological disorders, and glaucoma is a significant factor for the growth of global high intensity focused ultrasound market

The Global High Intensity Focused Ultrasound Devices Market is estimated to be USD 2.41 Bn in 2023 and is expected to reach USD 3.81 Bn by 2028 growing at a CAGR of 9.65%.

High-Intensity Focused Ultrasound (HIFU) is a non-invasive therapeutic technique that uses non-ionizing ultrasonic waves to heat tissue. HIFU can be used to increase the temperature of the targeted tissue to 65-100°C, which causes protein denaturation and coagulative necrosis. HIFU is used to treat uterine fibroids, essential tremors that can’t be managed with medication, Parkinson’s disease when the main symptom is tremors, metastatic bone growth pain, and thyroid nodules. High-intensity focused ultrasound has now been used for clinical treatment of a variety of solid malignant tumors, including those in the pancreas, liver, kidney, bone, prostate, and breast, as well as uterine fibroids and soft-tissue sarcomas.

The rise in the incidences of various types of cancers, especially kidney, primary and secondary liver, prostate, pancreatic, and bladder cancer across the globe, is one of the major factors driving the growth of High-Intensity Focused ultrasound (HIFU) market. For instance, according to the American Cancer Society, an estimated 1.9 Mn new cancer cases will be diagnosed and 609,360 cancer deaths in the United States in 2022. The rise in the inclination towards HIFU products as they provide several advantages over traditional ultrasound systems, including low procedural time and less bleeding. The growing number of clinical studies regarding the Applications of HIFU accelerated the High-Intensity Focused ultrasound (HIFU) market growth. The high adoption of these devices in surgical procedures as they make the procedures cost-effective, minimally invasive, and less painful, and the increasing recommendations by healthcare organizations further influence the High-Intensity Focused ultrasound (HIFU) market.

Additionally, the rise in the aging population, public awareness about diseases and treatment options, improving healthcare infrastructure, increasing investment, and surge in healthcare expenditure positively affect the High-Intensity Focused ultrasound (HIFU) market. Additionally, focused ultrasound surgery (FUS) is a non-invasive technique that can ablate tumor lesions precisely when combined with high-intensity imaging methods. The mechanisms of HIFU ablation involve thermal and mechanical effects.

Moreover, technological advancements in HIFU devices have resulted in the development of new and improved devices. For instance, EDDA Technology, Inc. received FDA approval for its EDDA-PRO 6.0 HIFU system. The new system is equipped with an upgraded user interface and improved software that enables the user to create custom protocols for treating various cancer indications. The presence of untapped markets in developing nations is expected to provide new opportunities for the key players.

• However, the high cost of HIFU devices and procedures is the major factor restraining the growth of the HIFU market. HIFU procedures are expensive, and the cost of HIFU devices is also high. For instance, the Sonablate 500 HIFU device, manufactured by Insightec Ltd., costs approximately USD 150,000. Furthermore, the dearth of skilled professionals and limitations associated with HIFU as a technology are some of the factors that hinder the growth of the market.

Market Segmentations

• The Global High-Intensity Focused Ultrasound Devices Market is segmented based on Applications, End Users, and Geography.
• By Applications, the market is classified into Cancer, Cardiovascular Disorders, Neurological Disorders, Gynecology & Obstetrics, and Urinary Disorders.
• The Cancer segment is anticipated to grow with the highest CAGR in forecasting periods, due to unhealthy diet, physical inactivity, tobacco use, and harmful use of alcohol. The effects of behavioral risk factors may show up in individuals as raised blood pressure, raised blood glucose, raised blood lipids, and overweight and obesity due to this cancer prevalence increases. As High-intensity focused ultrasound has now been used for the clinical treatment of a variety of solid malignant tumors, including those in the pancreas, liver, kidney, bone, prostate, and breast, as well as uterine fibroids and soft-tissue sarcomas.
• By End Users, the market is classified into Diagnostic Centers, Hospitals, and Research Centers.
• It is predicted that the Hospitals segment hold the largest market share and grow with the highest CAGR in forecasting periods, this is due to the increased use of HIFU therapy for the treatment of various conditions such as Anti-aging treatment in hospitals. The high adoption of these devices in surgical procedures by the hospital as they make the procedures cost-effective, minimally invasive, and less painful and the increasing recommendations by healthcare organizations further influence the High-Intensity Focused ultrasound (HIFU) market.
• By Geography, the market is classified into Americas, Europe, Middle-East & Africa, and Asia-Pacific.
• The Asia-Pacific is predicted to grow with the highest CAGR in upcoming years. The HIFU therapy market in the Asia Pacific region is anticipated to grow with the highest CAGR in the upcoming year due to expand rapidly due to the increase in the prevalence of cancer, investment by market players in emerging countries such as India and China, and increased consumer awareness about the treatment of cancer. Furthermore, as the population in this region increases, the prevalence of cancer and cardiovascular diseases increases, the demand for HIFU is increasing.

Recent Development

• Nomura Holdings, Inc., acquired shares of SONIRE Therapeutics Inc. The investment made by Nomura Holdings; Inc. will benefit SONIRE Therapeutics Inc. to develop a HIFU treatment system for the treatment of pancreatic cancer as well as other types of cancers. - November 2022

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are EDAP TMS S.A., SonaCare Medical, Theraclion Company, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxemburg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle-East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global High-Intensity Focused Ultrasound Devices Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global High-Intensity Focused Ultrasound Devices Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global High-Intensity Focused Ultrasound Devices Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
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Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market