Magnetic Resonance Image-Guided Focused Ultrasound (MRgFUS) System Market Research Report by Application, Products, End Users, Geography and Forecast to 2024

The global magnetic resonance image-guided focused ultrasound system market is segmented on the basis of product type, indication, end users and region. On the basis of product type, the market is segmented into extracorporeal devices, intracavitary devices and interstitial devices. Extracorporeal devices are used for targeting organs that are readily accessible through an acoustic window on the skin such as uterine fibroids or breast; intracavitary devices are used for transrectal and transurethral treatment of prostate cancer or for intraesophageal treatment; and interstitial devices are used for treating the biliary duct and other difficult to access targets. On the basis of indication type, the global magnetic resonance image-guided focused ultrasound system market can be further segmented into breast cancer, leaver cancer, brain cancer, bone metastasis, glaucoma, uterine fibroids and others. Based on the end users, global magnetic resonance image-guided focused ultrasound system market can be further segmented into, hospitals, oncology research centers, medical institutes, specialty clinics and ambulatory surgical centers. Increasing prevalence of different cancer such as breast cancer, leaver cancer and brain tumor; growing glaucoma patient base in U.S. and growing gynecological indication drives the demand for MRgFUS. Moreover, growing preference of non-invasive surgical solutions for chronic diseases further boost the market growth.

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Increasing cancer burden is one of the major health concern across the globe. According to the World Health Organization (WHO), in 2012, around 14.1 million new cases were diagnosed and more than half of them are from developing economies. In addition, 21.7 million cancer cases are expected to be diagnosed by 2030 and around 13 million deaths are expected. Similarly, more than 3 million American are currently living with glaucoma and the number is expected to increase to 80 million by 2020. This factor propels the need of technologically advanced devices to ensure better treatment in order to avoid risk associated with surgical procedures. Based on geography, the global magnetic resonance image-guided focused ultrasound system market is segmented into five key regions, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America accounted for the largest share of the magnetic resonance image-guided focused ultrasound system market in 2015 followed by Europe. MRgFUS are non-invasive devices which is effective in safe surgical and monitoring devices and this factor has increased the adoption of these devices among end users, which ultimately drives the growth of global MRgFUS market. Also, there is a growing trend of non-invasive surgery and out-patient base surgery, and a shift towards advanced surgical solutions, which is drives the magnetic resonance image-guided focused ultrasound system market in North America & Europe. Asia Pacific is expected to witness remarkable CAGR during forecast period, due to large population base, and high prevalence of target and lifestyle diseases. However, poor healthcare facilities in underdeveloped and emerging countries which lack appropriate healthcare infrastructure and trained staff is anticipated to affect the adoption in these countries. Moreover, high cost associated with the MRgFUS devices and surgical procedures might hinders the market growth.

Some of the major players in the global magnetic resonance image-guided focused ultrasound system market include, Insightec Ltd., Alpinion Medical Systems Co., Ltd, Profound Medical Corp., Shenzhen Huikang Medical Apparatus, Theraclion, Monteris Medical, Inc., Eye Tech Care, Philips, and Medtronic among others. The global magnetic resonance image-guided focused ultrasound system market is fragmented with presence of many local vendors which might impacts the growth opportunities for international players.

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