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The global High Intensity Focused Ultrasound (HIFU) Therapy Market is expected to grow at a CAGR of 7.8% during the forecast period 2017-2023.
Rising prevalence of different types of cancers, especially, prostate cancer, kidney cancer, primary and secondary liver cancer, pancreatic cancer, and bladder cancer will boost growth of the market. According to the American Cancer Society, about 161,360 new cases of prostate cancer have been registered in the US in 2016. Moreover, increasing development in medical technology and its wide-range applications used in the treatment of uterine fibroids, neurological disorders, cosmetic medicine, others have fueled growth of the market.
On the other hand, high cost of the treatment and certain adverse effects are likely to restrain the market’s growth over the assessment period.
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Key Players for Global High Intensity Focused Ultrasound (HIFU) Therapy Market
Some of the key players in this market are Image Guided Therapy, EDAP TMS, SonaCare Medical, LLC, Theraclion, Chongqing Haifu Medical Technology Co., Ltd, Koninklijke Philips N.V., Shanghai A&S Co. LTD, Mianyang Sonic Electronic Ltd., Insightec, Alpinion Medical Systems, and FUS Instruments.
Segments for Global High Intensity Focused Ultrasound (HIFU) Therapy Market
The global High Intensity Focused Ultrasound (HIFU) Therapy market is segmented on the basis of modality, which comprises of therapeutic ultrasound, hemostasis, lithotripsy, thrombolysis, immunomodulation, and others.
On the basis of the methods, the market is segmented into non-invasive method, and minimal invasive method.
On the basis of applications, the market is segmented into prostate cancer, uterine fibroids, neurological disorders, cosmetic medicine, and others.
On the basis of end users, the market is segmented into diagnostic centers, hospitals, research centers, and others.
Regional Analysis for Global High Intensity Focused Ultrasound (HIFU) Therapy Market
The Americas accounts for the largest share in the global High Intensity Focused Ultrasound (HIFU) Therapy market. It includes North America and South America. North America dominates the market due to growing prevalence of cancers in this region, which is one of the major driving factors for the growth of High Intensity Focused Ultrasound (HIFU) Therapy market.
Europe is the second highest revenue generating region in the global HIFU therapy market. Europe is mainly consist of Eastern Europe and Western Europe. More developed countries of Western Europe such as Germany, France, and the UK are holding the major market share, whereas the Eastern European countries are also growing at a significant rate. Owing to developing healthcare infrastructure and increasing healthcare expenditure, and growing adoption of HIFU therapy for the treatment of cancers and related diseases drive the growth of the HIFU therapy market.
In Asia Pacific, increasing government support for research & development in healthcare domain, growing number of cancer cases drives the growth of the market.
The Middle East & Africa is expected to show a least market share due to less availability of medical facilities, and less development in healthcare domain.
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