The MRI Guided Focused Ultrasound Devices Market to see digitized data collection at a CAGR of 10.0%

MRI-guided focused ultrasound devices are a type of medical equipment that uses high-frequency sound waves to generate heat and destroy abnormal tissue in the body. These devices are used to treat a range of medical conditions, including uterine fibroids, bone metastases, and prostate cancer. The market for MRI-guided focused ultrasound devices is growing rapidly, driven by advances in technology and the increasing demand for minimally invasive procedures.

Market Size and Growth:

The global MRI-guided focused ultrasound devices market size was estimated at USD 61.9 million in 2018. and is projected at a CAGR of 10.0% during the forecast period (2018-2026). The market growth can be attributed to the increasing adoption of MRI-guided focused ultrasound devices by healthcare providers due to their non-invasive nature and potential to reduce patient recovery time and costs. The growing prevalence of conditions that can be treated using these devices, such as uterine fibroids, is also driving market growth.

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Company Profiles

Profound Medical
Insightech
EpiSonica
Kona Medical
Mirabilis Medical
SonaCare Medical
EDAPTMS
Theraclion
Alpinion Medical Systems
Beijing Yuande Bio-Medical Engineering
Wuxi Haiying Medical
Chongquing HIFU Medical Tech. Co. Ltd.
Shangai A&S Co. Ltd.

The MRI guided focused ultrasound devices market is expected to experience both drivers and restraints in the coming years. The increasing prevalence of diseases such as uterine fibroids, bone metastases, and essential tremors is driving the demand for non-invasive treatment options. MRI guided focused ultrasound devices are gaining popularity as a non-invasive alternative to traditional surgical procedures, which is expected to drive the growth of the market. Additionally, advancements in technology, such as the integration of MRI with ultrasound technology, are also expected to drive market growth. However, the high cost of the devices and the lack of awareness among patients and physicians about the benefits of MRI guided focused ultrasound devices could restrain market growth. Additionally, the limited availability of skilled professionals who can operate these devices could also hinder the growth of the market.

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As of 2017, there are approximately 582 treatment sites offering therapies for 31 indications. The number of Funding & Programs have increased over the last decade. Strategic Partnerships have usually involved well established medical device market manufacturers and MRI guided & focused ultrasound devices manufacturers.

As MRI guided & focused ultrasound devices manufacturers are majorly focused on product development and research, strategic partnerships with key medical device manufacturers providing the MRI guided & Focused Ultrasound devices manufactures with greater resources at their disposal for product marketing and product penetration.

For MRI Guided & Focused Ultrasound Devices, Uterine Fibrosis is the most common indication offered by various manufacturers. Prostate cancer and breast cancer treatment are rapidly growing and gaining acceptance widely in the end users of MRI guided & Focused Ultrasound devices. Breast Cancer indication type is anticipated to be the fast growing indication for MRI Guided & Focused Ultrasound Devices.

Hospitals, Oncological treatment centers, and academic & research centers using MRI guided & Focused Ultrasound devices are the primary point of contact for patients experiencing prostate diseases, liver cancer, uterine fibrosis, brain anomalies, and others.

Hospitals sub-segment under the end users segment for MRI Guided & Focused Ultrasound Devices market, accounted for over 45% revenue share in the overall MRI Guided & Focused Ultrasound Devices market in 2017. Growing demand for cost-effective diagnostic options success in clinical studies for developing a rapid MRI Guided & Focused Ultrasound Devices is expected to fuel the growth of the global MRI Guided & Focused Ultrasound Devices market over the forecast period.

Activities across the MRI Guided & Focused Ultrasound Devices manufacturers are restricted to knowledge sharing and product development. The top activity associated with MRI Guided & Focused Ultrasound Devices manufacturers is joint collaboration with various organizations in order to spread awareness, further development, and promote the efficiency of MRI Guided & Focused Ultrasound Devices.

Rising focus on cost-effective diagnosis using MRI Guided & Focused Ultrasound Devices is expected to boost the growth of the MRI Guided & Focused Ultrasound Devices market.

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