In 2022, the focused ultrasound system market was estimated to be worth $7 billion. Additionally, the total demand for focused ultrasound systems is anticipated to grow at a strong CAGR of 6.1% between 2022 and 2032, reaching a total of approximately US$ 9.2 Bn by 2032, due to the rising prevalence of various chronic and infectious diseases as well as the growing preference for non-invasive treatment methods.
Focused ultrasound is image guided, non-invasive surgical procedure used for the treatment of brain and various other body parts by targeting the tissues with ultrasonic energy. Various conditions such as Alzheimer’s, uterine fibroids and essential tremor, etc.
The focused ultrasound system is generally used for the tissues which are deep inside the body. The non-invasive nature of the focused ultrasound system to treat various conditions is the vital point of traction in the current as well as future prospect of focused ultrasound system market growth.
Various manufacturers are investing heavily in the research and development for the focused ultrasound system. For example, INSIGHTEC Ltd. Israel based medical device company currently developing a first of its kind focused ultrasound system for treatment of Parkinson’s disease and it is in stage three of clinical trials for the FDA approval.
Focused Ultrasound System Market: Drivers and Restraints
Focused ultrasound system market is majorly driven by the non-invasive and site specific nature of the treatment of various diseases without affecting the surrounding tissues. The treatment with focused ultrasound system requires around 2 to 4 hours only without need of analgesia which in turn further increases patient compliance and ease of treatment procedure fueling the growth of the market.
The reduced time or no time of inpatient stay after treatment with focused ultrasound system further decreases the economic burden of treatment and increasing traction of market growth. By coupling the ultrasound with MRI scanner healthcare professionals can actually see the real time visuals of tissues to be treated hence improving preciseness as well as therapeutic outcome.
Increasing number of clinical trials and increasing spending on research and development by the focused ultrasound system manufacturing companies further expected to drive the growth of focused ultrasound system market. The performance evaluation of the focused ultrasound system for treatment of different diseases further expected to drive the growth of focused ultrasound system market in near future.
Whereas, low product penetration in the middle and low income countries may hamper the potential growth prospect of the focused ultrasound system market.
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Focused Ultrasound System Market: Overview
The global focused ultrasound system market is majorly driven by the increasing patient compliance with the non-invasive treatment procedures. By technology, focused ultrasound system market is expected to be dominated by the MR-guided focused ultrasound system segment due to high efficiency as compared to other.
By application, focused ultrasound system market is expected to be dominated by the oncology segment due to high number of procedures. By end user, focused ultrasound system market is expected to be dominated by the hospital segment due to high patient footfall for the treatment.
Focused Ultrasound System Market: Regional Outlook
The global market is expected to be North America due to high product penetration and high number of procedures. Europe is expected to be second most lucrative focused ultrasound system market due to higher patient preference for non-invasive treatment.
Latin America focused ultrasound system market is expected to experience steady growth due to increasing number of procedures using focused ultrasound system. Asia-Pacific is expected to be the fastest growing focused ultrasound system market due to rapidly improving healthcare infrastructure in the countries such as India and China.
Middle East and Africa is expected to be the least lucrative focused ultrasound system market due to low product penetration and lack of proper healthcare infrastructure in majority of the region.
Focused Ultrasound System Market: Key Players
The key players operating in the global market are: ALPINION MEDICAL SYSTEMS Co., Ltd., INSIGHTEC Ltd., Sonacare Medical, GENERAL ELECTRIC COMPANY, Siemens Ltd., Haifu Medical Technology Co., Ltd., FUS Instruments, MEDSONIC LTD, Mirabilis Medical, Inc., EDAP, and others
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It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
Key Segments Profiled in the Focused Ultrasound Systems Market Survey
By End User:
- Specialty Clinics