The global High-Intensity Focused Ultrasound (HIFU) market demonstrated notable growth in 2023, reaching a market size of USD 153 million. Looking ahead, MarketsGlob forecasts a substantial increase, with the market expected to attain USD 281 million by 2031. This growth reflects a robust Compound Annual Growth Rate (CAGR) of 7.9% during the forecast period from 2024 to 2031, highlighting the dynamic expansion of this advanced medical technology.
Key Players Driving Market Innovation
The HIFU market is characterized by a diverse range of influential players who are advancing technology and shaping market trends. Leading companies include:
- SonaCare Medical
- Stryker Corporation
- GE Healthcare
- Hitachi
- SuperSonic
- Ultrasound Technologies
- Profound Medical
- Chongqing Haifu Medical Technology
- InSightec
- Shanghai A&S
- EDAP TMS
- Alpinion Medical Systems
- Theraclion
- FUS Instruments
- Image Guided Therapy
- Shenzhen Wikkon
- Koninklijke Philips N.V.
- Canon Medical Systems
- Samsung Medison
- Siemens Healthineers
- Others
These key players are pivotal in driving innovation and maintaining competitive dynamics within the HIFU industry.
Recent Strategic Developments
Recent strategic activities have significantly impacted the HIFU market:
- May 8, 2024: Samsung Medison has signed an agreement to acquire Sonio, a French startup specializing in fetal ultrasound AI software. Sonio will continue to operate independently from its headquarters in France while ensuring compatibility with various ultrasound devices, bolstering Samsung Medison’s technological portfolio.
- August 9, 2023: ALPINION Medical Systems launched the X-CUBE i9, a portable ultrasound diagnostic device. The X-CUBE i9 features dual batteries and probe connectors, enhancing examination speed and operational efficiency with the capability to be ready in one minute and to operate for 100 hours in standby mode.
- September 12, 2022: Advanced MedTech Holdings acquired a majority interest in Wikkon, a leading Chinese provider of urology and shock wave therapy devices. This acquisition strengthens Advanced MedTech’s position in the urology market and is expected to include the remaining shares of Wikkon by the end of 2022.
- December 17, 2020: Philips and InSightec announced a partnership to expand access to MR-guided focused ultrasound for incisionless neurosurgery. This collaboration aims to enhance the compatibility of Philips’ MR systems with InSightec’s Exablate Neuro platform, improving treatment options for neurological disorders and reducing healthcare costs.
Market Segmentation
The HIFU market is segmented into various categories:
By Type:
- Ultrasound-Guided HIFU (USgHIFU)
- Magnetic Resonance-guided HIFU (MRgHIFU)
By Application:
- Prostate Cancer
- Uterine Fibroids
- Neurological Disorders
- Cosmetology
- Others
By Sales Channel:
- Direct Channel
- Distribution Channel
By Region/Country:
- North America (United States, Canada, Mexico)
- Europe (Germany, United Kingdom, France, Italy, Russia, Spain, Benelux, Poland, Austria, Portugal, Rest of Europe)
- Asia-Pacific (China, Japan, Korea, India, Southeast Asia, Australia, Taiwan, Rest of Asia Pacific)
- South America (Brazil, Argentina, Colombia, Chile, Peru, Venezuela, Rest of South America)
- Middle East & Africa (UAE, Saudi Arabia, South Africa, Egypt, Nigeria, Rest of MEA)
The global HIFU market is on a growth trajectory, supported by technological advancements and strategic market moves. With an anticipated market value of USD 281 million by 2031, the HIFU industry is set for significant expansion, driven by ongoing innovations and strategic developments by key market players. Stakeholders can anticipate a vibrant and evolving market landscape with ample opportunities for growth and advancement.
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