High Intensity Focused Ultrasound (HIFU) Market, By Imaging Technology (Ultrasound- HIFU Therapy, and Magnetic Resonance Imaging- HIFU Therapy), By Indication (Oncology {Prostate cancer, Rectal tumors, Liver tumors, Renal tumors, others}, Skin Care {Anti-aging treatment, Skin Laxity and Tightening, Others}, Neurological Disorders, and Others), By End User (Hospitals, Ambulatory Surgical Centers, Dermatology Clinics, and Others), And by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

Published In : Feb 2023

Code : CMI5538

Pages :182

Formats :

Excel and PDF

Industry : Medical Devices

Market Challenges And Opportunities

Restraints & Challenges:

The high cost of HIFU

Global High-Intensity Focused Ultrasound (HIFU) Market- Driver

Company Partnerships

Major companies operating in the global high-intensity focused ultrasound (HIFU) market are focused on inorganic growth strategies such as partnerships, which is expected to drive growth of the global High-Intensity focused ultrasound (HIFU) market over the forecast period. For instance, in December 2020, Koninklijke Philips N.V., a multinational conglomerate corporation, partnered with Insightec, a medical device company to expand access to MR (Magnetic Resonance)-guided focused ultrasound for incision-less neurosurgery. By developing compatibility between Koninklijke Philips N.V’s advanced MR systems and InSightec's Exablate Neuro platform, these two companies will enable greater access to MR-guided focused ultrasound for the treatment of Essential Tremor and other neurological disorders. Insightec's Exablate Neuro platform is a magnetic resonance image-guided focused ultrasound (MRgFUS) system that treats tremors which are not treatable with medications.

Increasing Prevalence of Prostate Cancer

Increasing prevalence of prostate cancer is expected to drive the market growth over the forecast period as HIFU is used to treat prostate cancer. For instance, according to American Society of Clinical Oncology, in February 2022, worldwide, 1,414,259 people were diagnosed with prostate cancer in the year 2020.

Global High-Intensity Focused Ultrasound (HIFU) Market: Restraint

High cost of High-Intensity focused ultrasound (HIFU)

The major factor that can hamper growth of the global High-Intensity focused ultrasound (HIFU) market over the forecast period includes the high cost of HIFU treatment. For instance, average price of High-Intensity focused ultrasound ablation (HIFU) is US$ 10,700.

However, increasing introduction of reimbursement for High-Intensity focused ultrasound (HIFU) by governments of various countries may help in tackling the issue of high cost of HIFU treatment