Press release
High Intensity Focused Ultrasound Therapy Market – tapping the large prostate cancer market
High Intensity Focused Ultrasound Therapy Market
High intensity focused ultrasound (HIFU) therapy kills cancer cells with high frequency sound waves. Which heat up the tissue selectively, leading to irreversible cell death by protein denaturation and coagulation. The global high intensity focused ultrasound (HIFU) therapy market is expected to grow at a CAGR of 7.8% during the forecast period 2017-2023.
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Segments of high intensity focused ultrasound (HIFU) therapy market
Modality - therapeutic ultrasound, haemostasis, lithotripsy, thrombolysis, immunomodulation, and others.
Methods - non-invasive method, and minimal invasive method.
Applications - prostate cancer, uterine fibroids, neurological disorders, cosmetic medicine, and others.
End users - diagnostic centers, hospitals, research centers, and others.
Key Players in the Global High Intensity Focused Ultrasound (HIFU) Therapy Market
Image Guided Therapy, EDAP TMS, SonaCare Medical, LLC, Theraclion, Chongqing Haifu Medical Technology Co., Ltd, Koninklijke Philips N.V., Shanghai A&S Co. LTD, Mianyang Sonic Electronic Ltd., Insightec, Alpinion Medical Systems, and FUS Instruments.
Key market developments in the Global High Intensity Focused Ultrasound (HIFU) Therapy Market
June, 2017 - Philips entered into an agreement with Profound Medical Corp. to increase the scale of its MR-guided High Intensity Focused Ultrasound (HIFU) business. Philips transferred its MR-HIFU business to Profound, and obtained a minority interest in Profound.
August, 2017 – SonaCare Medical, entered into collaboration with BK Ultrasound, achieving compatibility between bkFusion and Sonablate planning software for the ablation of prostate tissue.
January 2017 - SonaCare Medical Granted FDA Regulatory Clearance for Updated HIFU Prostate Tissue Ablation Device in the United States. Sonablate was the first HIFU device to receive regulatory authorization from the Food and Drug Administration (FDA) for the focused ablation of prostate tissue.
Market dynamics of High Intensity Focused Ultrasound (HIFU) Therapy Market
Rising prevalence of different types of cancers is the critical driver of the market. According to the American Cancer Society, about 161,360 new cases of prostate cancer have been registered in the US in 2016.
Other drivers are advantages of HIFU over traditional treatment such as low procedural time, less surgical foot print, cost effective, minimally invasive, and others. Moreover, potential emerging applications of HIFU in the treatment of uterine fibroids, neurological disorders, cosmetic medicine, and others have fuelled growth of the market.
Constraints of the market include high cost of the treatment, adverse effects, growing stringency of government regulations for the approval of HIFU system in U.S. such as pre-market approval and others.
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Regional Analysis of the High Intensity Focused Ultrasound (HIFU) Therapy Market
The Americas accounts for the largest share in the global high intensity focused ultrasound (HIFU) therapy market. It includes North America and South America. North America dominates the market due to growing prevalence of cancers in this region, which is one of the major driving factors for the growth of high intensity focused ultrasound (HIFU) therapy market.
Europe is the second highest revenue generating region in the global HIFU therapy market. Europe is mainly consist of Eastern Europe and Western Europe. More developed countries of Western Europe such as Germany, France, and the UK are holding the major market share, whereas the Eastern European countries are also growing at a significant rate. Owing to developing healthcare infrastructure and increasing healthcare expenditure, and growing adoption of HIFU therapy for the treatment of cancers and related diseases drive the growth of the HIFU therapy market.
In Asia Pacific, increasing government support for research & development in healthcare domain, growing number of cancer cases drives the growth of the market.
The Middle East & Africa is expected to show a least market share due to less availability of medical facilities, and less development in healthcare domain
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