High-Intensity Focused Ultrasound (HIFU) Market: Current Analysis and Forecast (2021-2027)

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Emphasis on Modality (Therapeutic Ultrasound, Hemostasis, Lithotripsy, Thrombolysis, Immunomodulation, Others); Methods (Non-invasive Methods, Minimal Invasive Methods); Application (Prostate Cancer, Uterine Fibroids, Neurological Disorders, Cosmetic Medicine, and Others); End-User (Diagnostic Centers, Hospitals, Research Centers, Others); Region/Country

Published:

Nov-2021

Pages:

284

Table:

52

Figure:

116

Report ID:

UMHE21499

Geography:

Clear
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Report Description
Table of content
Research Methodology

Report Description


Global High-Intensity Focused Ultrasound (HIFU) Market was valued at ~US$ 100 million in 2020 and is expected to grow at a CGAR of ~18% over the forecast period (2021-2027).
Focused ultrasound is an initial phase, noninvasive therapeutic technology which improves the lives of millions of patients suffering from serious medical conditions. It provides a disruptive, life-changing complement to surgery, drug delivery, radiation therapy, and cancer immunotherapy. High-Intensity Focused Ultrasound (HIFU) increases the quality and longevity of life and decreases the treatment cost. Nowadays, it is used in the treatment of a wide range of indications, including:

  • Benign and malignant tumors of the brain, breast, prostate, liver, and pancreas
  • Parkinson’s and Alzheimer’s diseases and epilepsy
  • Depression and obsessive-compulsive disorder
  • Arthritis and hypertension
  • Uterine fibroids

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In High-Intensity Focused Ultrasound (HIFU) highly focused ultrasonic waves are applied to the local diseased tissue through ablation. This leads to the rise in temperature with the rising intensity of tissue vibrations. Once the temperature rises beyond 60 degrees Celsius, coagulative necrosis and protein denaturation happen which in turn leads to irreversible cell death. The advantages of using HIFU products in traditional ultrasound systems include less bleeding and low procedural time. Moreover, surgical procedures using these devices are minimally invasive, cost-effective, as well as less painful. There are currently more than 125 clinical indications in which HIFU is employed which are in various stages of development, and the number is growing rapidly. Globally, 31 indications have regulatory approval; in the US, while six have been approved by the FDA. The demand for High-Intensity Focused Ultrasound  (HIFU) market is increasing on account of the high prevalence of cancer as well as cardiovascular disease cases, promulgating aging population, increasing number of new product launches, mounting number of clinical trials, and high focus of market key players on the development of technologically advanced systems. Moreover, the high recommendations by healthcare organizations (European Association of Urology, and the National Institute for Health and Clinical Excellence) on Focal therapy using the HIFU system for localized prostate cancer are encouraging market growth.

Global Estimated deaths due to Chronic Diseases, 2019

Insights Presented in the Report

“Amongst Modality, Therapeutic Ultrasound segment holds the major share.”

Based on Modality, the market is fragmented into Therapeutic Ultrasound, Hemostasis, Lithotripsy, Thrombolysis, Immunomodulation, and Others. The therapeutic ultrasound segment dominated the market in 2020 and is expected to grow at lucrative during the forecasted period. Therapeutic ultrasound is a kind of treatment modality that is mainly exploited during physical therapy to joints, tissue, muscles, tendons, and ligaments. It mainly provides deep heating to heel the soft tissues of the body. Therapeutic ultrasounds are used as two different effects such as deep heating effects and non-thermal effects. The deep heating process assists in providing heat energy to the soft tissues in the body and Non-thermal effects assist in the contraction and expansion of tissues known as cavitation. The therapeutic segment is primarily propelled by a rise in the number of ultrasound procedures, a high prevalence of chronic conditions, and technological advancements. Moreover, an increase in the incidence of various disorders such as respiratory disorders, cardiovascular diseases, and abdominal disorders drives the demand for therapeutic ultrasound devices

“Amongst Methods, Non-invasive Methods segment holds the major share.”

Based on Methods, the market is bifurcated into Non-invasive Methods and Minimal Invasive Methods. The non-invasive segment dominated the market in 2020 and is expected to grow at lucrative during the forecasted period. Non-Invasive ultrasound stimulation is a developing technology that can noninvasively inhibit neural activity in the targeted brain by delivering pulsed ultrasonic waves. The increasing occurrence of the neurological, orthopedic, tooth, and gastrointestinal health problems among various chronic disorders is anticipated to create an upsurge in demand for non-invasive methods.

“Amongst Application, the Uterine Fibroids segment is anticipated to grow at the highest CAGR during the analyzed period.”

Based on Application, the market is bifurcated into Prostate Cancer, Uterine Fibroids, Neurological Disorders, Cosmetic Medicine, and Others. The uterine fibroids segment dominated the market in 2020 and is expected to grow at lucrative during the forecasted period. The rising incidents of Uterine fibroid are intensifying the segment growth. Uterine fibroid is the most common benign tumor in women of childbearing age. Around 25% of women and up to 30–40% of women older than 40 years have clinical symptoms of uterine fibroids. Many patients show clinical symptoms such as menorrhagia, irregular bleeding, pelvic pain, or infertility, which have a significant negative effect on their quality of life

“Amongst End-Users, the Hospitals segment is anticipated to grow at the highest CAGR during the analyzed period.”

Based on End-users, the market is fragmented into Diagnostic Centers, Hospitals, Research Centers, and Others. The Hospitals segment dominated the market in 2020 and is expected to grow at lucrative during the forecasted period. The rising number of Hospitals and the high adoption of High-Intensity Focused Ultrasound (HIFU) is driving the segment growth.

“North America region signifies one of the largest markets and is expected to be the fastest-growing markets of High-Intensity Focused Ultrasound (HIFU) market.”

For a better understanding of the market adoption of High-Intensity Focused Ultrasound (HIFU), the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America will dominate the Ultrasound market on account of the increasing geriatric population coupled with the rising prevalence of chronic diseases, and favorable reimbursement policies. As per the World Bank, the North America health expenditure (% of GDP) was 16.42 in 2018. The Center for Disease Control and Prevention (CDC) estimates that over 34 million Americans suffer from diabetes, representing over a tenth of the population as of 2020. Moreover, as per the American Diabetes Association (ADA), there are over a million new cases of diabetes across the country annually. An estimated 88 million adults have prediabetes, accounting for 34.5% of the US adult population. Some of the major players operating in the market include Medtronic, Inc., Accutome, Inc., Sonacare Medical, Koninklijke Philips N.V., Johnson & Johnson, Stryker Corporation, Supersonic Imagine, Ultrasound Technologies Ltd., and Blatek, Inc. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

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  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

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1.1. Market Definitions
1.2. Limitation
1.3. Stake Holders
1.4. Currency used in Report

2.1. Research Process of the High-intensity Focused Ultrasound (HIFU) Market
2.2. Research Methodology of the High-intensity Focused Ultrasound (HIFU) Market
2.3. Forecasting Method
2.4. Respondent Profile
2.5. Main Objective of the High-intensity Focused Ultrasound (HIFU) Market Study

3MARKET SYNOPSIS
4.       EXECUTIVE SUMMARY

 

5 GLOBAL HIGH-INTENSITY FOCUSED ULTRASOUND (HIFU) MARKET COVID-19 IMPACT

6 GLOBAL HIGH-INTENSITY FOCUSED ULTRASOUND (HIFU) MARKET REVENUE (USD), 2019-2027F

7.1. Therapeutic Ultrasound
7.2. Hemostasis
7.3. Lithotripsy
7.4. Thrombolysis
7.5. Immunomodulation
7.6. Others

8.1. Non-invasive Method
8.2. Minimal Invasive Method

9.1. Prostate Cancer
9.2. Uterine Fibroids
9.3. Neurological Disorders
9.4. Cosmetic Medicine
9.5. Others

10.1. Diagnostic Centers
10.2. Hospitals
10.3. Research Centers
10.4. Others

11.1. North America High-intensity Focused Ultrasound (HIFU) Market
11.1.1. United States
11.1.2. Canada
11.1.3. Rest of North America
11.2. Europe High-Intensity Focused Ultrasound (HIFU) Market
11.2.1. Germany
11.2.2. U.K.
11.2.3. France
11.2.4. Spain
11.2.5. Rest of Europe
11.3. Asia Pacific High-Intensity Focused Ultrasound (HIFU) Market
11.3.1. China
11.3.2. Japan
11.3.3. India
11.3.4. Australia
11.3.5. Rest of Asia Pacific
11.4. Rest of World High-Intensity Focused Ultrasound (HIFU) Market

12.1. Market Drivers
12.2. Market Challenges
12.3. Impact Analysis

13 HIGH-INTENSITY FOCUSED ULTRASOUND (HIFU) MARKET OPPORTUNITIES

14 HIGH-INTENSITY FOCUSED ULTRASOUND (HIFU) MARKET TRENDS

15 LEGAL & REGULATORY FRAMEWORK

16.1. Demand Side Analysis
16.2. Supply Side Analysis
16.2.1. Top Product Launches
16.2.2. Top Business Partnerships
16.2.3. Top Business Expansions, Investments and Divestitures
16.2.4. Top Merger and Acquisitions

17 VALUE CHAIN ANALYSIS

18.1. Competitive Landscape
18.1.1. Company Shares, By Revenue

19.1. Medtronic, Inc.
19.2. Accutome, Inc.
19.3. Sonacare Medical
19.4. Koninklijke Philips N.V.
19.5. Johnson & Johnson
19.6. Stryker Corporation
19.7. Supersonic Imagine
19.8. Ultrasound Technologies Ltd.
19.9. Blatek, Inc.

20 DISCLAIMER

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global High-Intensity Focused Ultrasound (HIFU) market were the three major steps undertaken to create and analyze the adoption of High-Intensity Focused Ultrasound (HIFU) for the different applications such as Prostate Cancer, Uterine Fibroids, Neurological Disorders, Cosmetic Medicine, and Others. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the High-Intensity Focused Ultrasound (HIFU) sector. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to.

Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

The detailed secondary study was conducted to obtain the historical market size of the High-Intensity Focused Ultrasound (HIFU) through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the High-Intensity Focused Ultrasound (HIFU) market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments for major regions. Major segments included in the report are Modality, Methods, Application, End-users, and Region. Further country-level analyses were conducted to evaluate the overall adoption of High-Intensity Focused Ultrasound (HIFU) in every region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of High-Intensity Focused Ultrasound (HIFU). Further, we conducted factor analysis using dependent and independent variables such as High prevalence of cardiovascular diseases and cancer cases, rapidly growing aging population, rising number of new product launches.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the High-Intensity Focused Ultrasound (HIFU) Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (USD) and the adoption rate of High-Intensity Focused Ultrasound (HIFU) across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the High-Intensity Focused Ultrasound (HIFU) market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the High-Intensity Focused Ultrasound (HIFU) market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of Modality, Methods, Application, End-users, and Region of the High-Intensity Focused Ultrasound (HIFU) market.

Main Objective of the High-Intensity Focused Ultrasound (HIFU) Market Study

The current & future market trends of High-Intensity Focused Ultrasound (HIFU) were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of High-Intensity Focused Ultrasound (HIFU) in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
  • Segments in the study include areas of Modality, Methods, Application, and End-users, and Region
  • Define and analysis of the regulatory framework for the High-Intensity Focused Ultrasound (HIFU) industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the High-Intensity Focused Ultrasound (HIFU) market for the major region
  • Major regions studied in the report include North America (the United States and Canada), Europe (Germany, France, Spain, and United Kingdom), Asia-Pacific (China, Japan, India, and Australia), and the Rest of the World
  • Company profiles of the High-Intensity Focused Ultrasound (HIFU) market and the growth strategies adopted by the market players to sustain in the fast-growing market
  • Deep dive regional level analysis of the industry