Global 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) is estimated to be valued at US$ 112.7 Million in 2023 and is expected to exhibit a CAGR of 7.16% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing number of cancer cases worldwide is expected to boost the market growth over forecast period. For instance, according to World Cancer Research Fund International, there were 18,094,716 new cases of cancer in 2020 worldwide. Among these, 7.8% were prostate cancer, 12.5% were breast cancer, and 10.7% were colorectal cancer, among other cancer types.
Global High Intensity Focused Ultrasound (HIFU) Market – Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) that first appeared in Wuhan (province of Hubei, China) in the last months of 2019, as "coronavirus disease 2019," or COVID-19. This virus spreads quickly and had a serious negative impact on the economies, social behaviors, and health of every country in the world.
The COVID-19 had a negative impact on global high intensity focused ultrasound (HIFU) market, as dermatology clinic visits was decreased during the COVID-19 pandemic. For instance, according to data published by Dermatology Reports, in November 2021, the fear of COVID-19 infection and its rapid transmission have resulted in less frequent visits to crowded places such as dermatology clinics and hospitals. According to the same source in 2019, the number of cases of acne vulgaris became the second largest, but in 2020, the number of cases of acne vulgaris decreased to the fifth largest. These results support the finding that COVID-19, although not a skin disease, had impact on dermatology and outpatient clinic which resulted in low clinic visits.
Global High Intensity Focused Ultrasound (HIFU) Market: Key Developments
In August 2021, Verasonics, a company in the development of leading-edge ultrasound research technologies, and Sonic Concepts, Inc., a global company manufacturing ultrasonic transducers and systems, announced the collaboration to expand the HIFUPlex Portfolio to include full turnkey ultrasound-guided focused ultrasound solutions for preclinical research on both small and large subjects. HIFUPlex portfolio is designed to facilitate and advance FUS (Focused Ultrasound) research across a variety of clinical areas. The system brings together Verasonics’ Vantage platform and Sonic Concepts’ therapy and imaging transducers.
In March 2020, UMC Utrecht, a Hospital in Netherlands, initiated a study for noninvasive palliative pain treatment in patients with bone metastases using MR-HIFU procedure. The study is in phase 3 of clinical trials and is expected to complete in June 2024.
In June 2021, ZERO – The End of Prostate Cancer, a non-profit organization and Bayer, a pharmaceutical company partnered to launch ‘We’re Not Gonna Take It’, a national prostate cancer education program with guitarist Jay Jay French. The campaign prompted men to get screened for prostate cancer and gain more knowledge about the risk factors, which include family history and high prostate-specific antigen (PSA) levels.
Browse 30 Market Data Tables and 28 Figures spread through 182 Pages and in-depth TOC on “Global High Intensity Focused Ultrasound (HIFU) Market”- Forecast to 2030, 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)
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Key Takeaways of the Global High Intensity Focused Ultrasound (HIFU) Market:
- The global high-intensity focused ultrasound (HIFU) market is expected to exhibit a CAGR of 7.16% during the forecast period. Increasing prevalence of breast cancer worldwide is expected to drive the market growth over the forecast period. For instance, according to WHO, in March 2021, 685,000 women died worldwide and 2.3 million women were diagnosed with breast cancer in 2020.
- Among imaging technology, magnetic resonance imaging- HIFU therapy segment is estimated to hold a dominant position in the global high-intensity focused ultrasound (HIFU) market over the forecast period, owing to increasing research and development activities about HIFU for various purposes. For instance, in June 2022, Universitätsklinikum Köln, a university hospital in Germany, initiated an observational study in patients with Facet Joint Syndrome MRI-guided High Intensity Focused Ultrasound thermal therapy for pain relief. The study is expected to complete in June 2024.
- Among regions, North America is expected to be the most dominant region in the global high intensity focused ultrasound (HIFU) market, owing to the key players in the market are focusing on increasing product approvals by regulatory authorities. For instance, in June 2022, InSightec, a global medical device company, announced that it has received the U.S. FDA approval for a clinical comparison study of the Exablate Prostate system, which is used to treat diseased prostate tissue, and for an investigational device exemption (IDE). In comparison to active surveillance, this study will assess the safety and effectiveness of focal treatment using high intensity focused ultrasound in men with prostate cancer.
- Major players operating in the global high intensity focused ultrasound (HIFU) market include Koninklijke Philips N.V., Sonic Concepts, Inc., Theraclion, Sonablate, Alpinion Medical Systems Co., Ltd., Shanghai Carnation Medical Technology Co., Ltd., Insightec, FUS Instruments Inc., Mianyang Sonic Electronic, Profound Medical, Merz Pharmaceuticals GmbH, Image Guided Therapy, and Promedica Bioelectronics s.r.l
