High Intensity Focused Ultrasound (HIFU) Market Driven by Increasing Applications in Non-Invasive Surgeries
High intensity focused ultrasound (HIFU) is a minimally invasive therapeutic medical procedure that uses ultrasound energy to target an area of diseased or damaged tissue. HIFU delivers focused ultrasound waves through intact skin directly to target areas deep inside the body to thermally destroy unwanted tissue through ablation. The global HIFU market has seen increasing applications in non-invasive surgeries such as removal of uterine fibroids or tumors without the need for incisions.
The global high intensity focused ultrasound (HIFU) Market is estimated to be valued at US$ 129.84 Mn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
One of the key drivers for the growth of the HIFU market is its increasing adoption for non-invasive treatment of a variety of medical conditions without surgery such as removal of soft tissue tumors, uterine fibroids treatment and prostate cancer treatment. HIFU offers significant advantages over surgery such as minimal scarring, reduced bleeding, lower risk of infection and faster recovery time. This has resulted in the HIFU gaining increased acceptance among clinicians as well as patients.
Another driver is the technological advancements in HIFU devices that have enabled treating a wider range of conditions such as neurological and cardiovascular applications. Ongoing research is exploring new methods to further improve ultrasound focus while reducing side effects. Increasing awareness about benefits of minimally invasive procedures and preference for non-surgical options are also fueling demand for HIFU therapies.
SWOT Analysis
Strength: High Intensity Focused Ultrasound technology provides non-invasive treatment options without incisions or pain. It uses focused beams of ultrasound to accurately target tissues deep in the body without damaging surrounding structures. The treatment is done without general anesthesia and allows patients to quickly resume daily activities.
Weakness: HIFU procedures require specialized equipment that is expensive to purchase and maintain. Treatment involves lengthy sessions under MRI or ultrasound guidance, which increases costs. Some conditions may not be fully addressed with HIFU alone and may require additional therapies.
Opportunity: The aging global population is driving increased demand for minimally invasive procedures to treat cancer, urological diseases and other conditions. HIFU avoids surgeries and reduces recovery times preferred by many patients. Further research and development could expand approved applications of HIFU for new indications.
Threats: Alternative emerging non-invasive technologies may compete for market share, such as cryotherapy, laser ablation and radiofrequency ablation. Safety and effectiveness evidence is still evolving for some HIFU applications and strict regulatory clearances pose hurdles to market expansion. Reimbursement policies also impact uptake of the premium-priced technology in some countries.
Key Takeaways
The global High Intensity Focused Ultrasound market is expected to witness high growth over the forecast period from 2024 to 2031. The global high intensity focused ultrasound (HIFU) Market is estimated to be valued at US$ 129.84 Mn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2024 to 2031.
The North American region currently dominates the market due to growing adoption of innovative technologies for cancer and urological treatments. Rising healthcare expenditures and demand for minimally invasive therapies are further fueling the regional market. However, the Asia Pacific region is anticipated to emerge as the fastest growing market, with countries like China, India and Japan improving access to advanced medical innovations.
Key players operating in the High Intensity Focused Ultrasound market are Ellex Medical Lasers Ltd, Iridex Corporation, Alcon, Carl Zeiss Meditec AG, Lumenis Ltd., Topcon Medical Laser System, Nidek Co. Inc., Ziemer Ophthalmic Systems AG, Heine Optotechnik GmbH, and Keeler Ltd. Strategic collaborations between device makers and healthcare providers are helping to drive HIFU installations and expand approved clinical applications supported by ongoing research studies. Investments to develop next generation HIFU platforms incorporating imaging and thermal imaging could strengthen competitive positions over the long term.
Get More Insights On This Topic: https://www.trendingwebwire.com/high-intensity-focused-ultrasound-hifu-market-analysis-growth-forecast-outlook-2023-2030/
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