The rising prevalence of cancer worldwide is driving the global high intensity focused ultrasound market, predicts Fortune Business Insights in their new study. The study is titled, “High Intensity Focused Ultrasound Market Size, Share and Global Trend by Application (Prostate Cancer, Uterine Fibroids, Neurological Disorders, Cosmetology, Others), By End User (Hospitals, Ambulatory Surgery Centres, Cancer Treatment Centers, Physiotherapy Centers, Others), and Geography Forecast till 2026.”
list of key companies mentioned in high intensity focused ultrasound market report,
- Koninklijke Philips N.V
- EpiSonica Corporation
- Chongqing Haifu Medical Technology Co., Ltd.
- SonaCare Medical, LLC.
- Profound Medical Corp.
- GENERAL ELECTRIC COMPANY
- Ultrasound Technologies Ltd.
- Hitachi, Ltd.
- ALPINION MEDICAL SYSTEMS Co. Ltd.
- EDAP TM
- Johnson & Johnson Services, Inc., and others.
According to the report, the market is anticipated to be dominated by the prostate cancer segment on the basis of segmentation by application. This is because of the increasing rate of cancer as a result of unhealthy lifestyle and unhealthy food habits. Besides this, Uterine fibrosis is also expected to witness higher growth rates in the forecast duration.
Cost Efficient Ultrasound Procedures to Propel Demand in Market
The increasing prevalence of diseases such as cardiovascular diseases, glaucoma, cancer and neurological disorders are important factors estimated to drive the global high intensity focused ultrasound market.
In addition to this, the fact that high intensity focused ultrasound procedure provides added benefits such as low risk of impotence, minimum side effects, minimal invasion surgery, and lesser time taken for procedure, along with faster recovery are also helping the market attract revenues.
High intensity focused ultrasound is used for various new medical therapeutics such as neurosurgery, gynecology, obstetrics, and removing excess dermal fatty tissue, and others. This is also considered as an important factor boosting the global market. In addition to this, the fact that this procedure is painless and cost effective along with minimally invasive as compared to the others is further anticipated to drive the market in the forecast duration.
However, the market may face rough waters on account of lack of awareness in developing nations, such as India, and the under developed regions of Middle East and Africa. This, accompanied by the chances of side effects post-surgery such as cramps, abdominal pain, and other discomforts that the patient suffers may hamper the growth of the high intensity focused ultrasound market.
Rise in Disposable Incomes to Help Market in Asia Pacific Emerge as Fastest Growing Region
Geographically, the global high intensity focused ultrasound market is dominated by North America because of the increasing prevalence of cancer cases namely breast cancer, prostate cancer, neurological disorders and lung cancer, among others. In 2017, the American Cancer Society stated an estimated 40.610 death cases out of breast cancer in the U.S.
The sedentary lifestyle and unhealthy food habits of people have resulted in various health related problems and disorders including cancer. Thus, the need for proper cancer therapeutics is more in the region as compared to the others, which ultimately helps to generate higher revenues in the region.
Additionally, reimbursement policies provided by governments in the developed nations such as the U.S. and Canada are also helping the market generate huge revenues.
On the other side, the market for high intensity focused ultrasound is anticipated to witness faster growth in Asia Pacific on account of the developing healthcare infrastructure and facilities in the emerging economies of India, and China. The rise in disposable incomes of people have also propelled them to opt for better therapeutic options and this, is further expected to boost the market in the region.
Browse Summary of this Report: https://www.fortunebusinessinsights.com/industry-reports/high-intensity-focused-ultrasound-market-100723
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