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Global Magnetic Resonance Image-Guided Focused Ultrasound (MRgFUS) System Market 2016 - 2024: Industry Size, Share, Growth, Forecasts
Magnetic resonance image-guided focused ultrasound system (MRgFUS) is a therapy delivery system used for non-invasive thermal ablation surgery. It is a revolutionary technology that offers high intensity focused ultrasound guided by magnetic resonance imaging technology. This technology offers real-time monitoring, target definition, treatment planning and energy deposition for targeted tissue ablation without damaging surrounding normal tissue. The system is integrated with software that connects the imaging and the therapy system, through which the operator can generate the treatment plan. This surgery is often performed on an outpatient base without administering general anesthesia. In July 2016, the U.S. FDA approved first focused ultrasound devices i.e. ExAblate Neuro, which would be useful to treat essential tremor in patients who do not respond to medication.
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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.
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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.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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