The rising prevalence of cancer worldwide is driving the global high intensity focused ultrasound market, predicts Fortune Business Insights in their new study. The study is titled “High Intensity Focused Ultrasound Market”, Size, Share and Global Trend by Application (Prostate Cancer, Uterine Fibroids, Neurological Disorders, Cosmetology, Others), By End User (Hospitals, Ambulatory Surgery Centres, Cancer Treatment Centers, Physiotherapy Centers, Others), and Geography Forecast till 2026.”
According to the report, the market is anticipated to be dominated by the prostate cancer segment on the basis of segmentation by application. This is because of the increasing rate of cancer as a result of unhealthy lifestyle and unhealthy food habits. Besides this, Uterine uterine fibrosis is also expected to witness higher growth rates in the forecast duration.
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Rise in Disposable Income to Help Market in Asia Pacific Emerge as Fastest Growing Region
Geographically, the global high intensity focused ultrasound market is dominated by North America because of the increasing incidence of various cancer types such as breast cancer, prostate cancer, and lung cancer, among others. In 2017, the American Cancer Society stated that the U.S. witnessed an estimated 40.610 deaths due to breast cancer. The sedentary lifestyle and unhealthy food habits of people have resulted in various health related problems and disorders including cancer. Thus, the need for proper cancer therapeutics is more in the region as compared to the others, which ultimately helps to generate higher revenues in the region. Additionally, reimbursement policies provided by governments in the developed nations such as the U.S. and Canada are also helping the market generate huge revenues.
On the other side, the market for high intensity focused ultrasound is anticipated to witness faster growth in Asia Pacific on account of the developing healthcare infrastructure and improving access to healthcare facilities in the emerging economies of India, and China. The rise in disposable incomes of people have also propelled them to opt for better therapeutic options and this, is further expected to boost the market in the region.
Launch of Cost Efficient Ultrasound Procedures to Propel Growth
The increasing prevalence of diseases such as cardiovascular diseases, glaucoma, cancer, and neurological disorders is a key factor driving the global high intensity focused ultrasound market. In addition to this, the fact that high intensity focused ultrasound procedure provides added benefits such as low risk of impotence, minimum side effects, minimal invasion surgery, and lesser time taken for procedure, along with faster recovery is also enabling the market exhibit impressive growth.
High intensity focused ultrasound is used for various medical purposes such as neurosurgery, gynecology, obstetrics, and removing excess dermal fatty tissue, and others. This is also considered as an important factor boosting the global market. In addition to this, the fact that this procedure is painless and cost effective along with minimally invasive as compared to the others is further anticipated to drive the market in the forecast duration.
However, the market may face rough waters on account of lack of awareness in developing nations, such as India, and the under developed regions of Middle East and Africa. This, accompanied by the chances of side effects post-surgery such as cramps, abdominal pain, and other discomforts that the patient suffers may hamper the growth of the high intensity focused ultrasound market.
Leading Players operating in the High Intensity Focused Ultrasound Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- GENERAL ELECTRIC COMPANY
- Koninklijke Philips N.V.
- Hitachi, Ltd.
- Ultrasound Technologies Ltd.
- Johnson & Johnson Services, Inc.
- SonaCare Medical
- EpiSonica Corporation
- Profound Medical Corp.
- EDAP TMS
- ALPINION MEDICAL SYSTEMS Co., Ltd.
- Chongqing Haifu Medical Technology Co., Ltd
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