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Focused Ultrasound System Market: By Technology (Ultrasound-Guided Focused Ultrasound System, MR-Guided Focused Ultrasound System), By Application (Radiology, Oncology, Urology, Neurosurgery, Cosmetics, Other), By Display (Colored Ultrasound, Black and White Ultrasound), By End User (Hospital, Clinic, Diagnostic Center, Others) And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
The Global Focused Ultrasound System Market size for focused ultrasound systems is expected to reach USD 9.7 billion by 2032 from USD 4.64 billion in 2021
Focused ultrasound is a fastly evolving, noninvasive technology with aids in transforming the treatment of medical disorders using ultrasonic energy without incisions or radiation to body. The market growth is majorly due to the rising number of cancers and the advancements in technology for ultrasound-guided focused ultrasound systems. The demand for minimal invasive surgeries is growing leading to the growth of the market. Focused Ultrasound System is a novel technology that utilizes ultrasound waves to produce heat within the body which assists in destroying cancer cells or to eliminate drugs from the body. These ultrasound waves focus on an area and kill cells pertaining to that small area, by preventing the damage to nearby tissues. These includes Ultrasound-Guided and MR-Guided systems.
The Global Focused Ultrasound System Market size for focused ultrasound systems is expected to reach USD 9.7 billion by 2032 from USD 4.64 billion in 2021, growing at a CAGR of 6.9% during the forecast period i.e., 2022-32. The market growth is due to the increased utilization of ultrasound systems to target particular area of tissues without harming the surroundings and by eliminating incisions. The technological advancements to treat several disorders in the body by application heat and to destroy tissues utilizing sound waves is aiding the growth of the Global Focused Ultrasound System market. Using the latest helps to visualize target tissue and focus on ultrasound energy until the destruction of cells/ tissues.
Global Focused Ultrasound System market is classified based on the End User into Hospital, Clinic, Diagnostic Center, Others. Hospital segment is dominating the market with the largest market share. The usage of focused ultrasound systems is rising in the hospitals due to the advancement in technology which helps to treat various medical conditions in the body. The advancements include procedures like non-invasive treatments rather than the traditional surgery including the treatment cost which is less than the traditional surgery. There is no necessity of cuts or incisions by which the recovery of patients is early and fast after treatment which is expected to increase the growth of the market.
Global Focused Ultrasound System market is classified based on the Application into Radiology, Oncology, Urology, Neurosurgery, Cosmetics, Other. Radiology segment is expected to dominate with the largest share in the market during the forecast period, 2022-2032 owing to the rising occurrence of several cancers and elevated use of ultrasound in biopsy of tissue.
Advancements in Technology is expected to drive the growth of market
The advancements in technology has majorly impacted the Focused Ultrasound System Market. Certain initiatives by the government to boost purchasing power will boost the market growth and the development of Focused Ultrasound System Market. The implementation of new goods & technologies by the key players and their association with the new partners is aiming the growth of Focused Ultrasound System Market. The focus of companies in order to maintain a strong presence and position in the Focused Ultrasound System Market is expected to boost market growth in the forecast period.
High Incidence of diseases will aid market growth
The incidence of various diseases like rising cancer need the requirement of ultrasound systems to screen the cells and due to this constantly increasing demand for minimally invasive procedures is estimated to drive the growth of the Global Focused Ultrasound System market during the forecast period. The growing disposable incomes is also a factor leading to the market growth.
High Cost of equipment may restrain the growth of the market
The funds provided by the government will be altering and to buy an instrument which is a high-end model, the associated cost is high will is expected to restrain market growth. The installation of ultrasound systems requires novel technologies which includes high cost and resulting in hampering the market growth.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Focused Ultrasound System market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America is dominating the market with the largest share in terms of revenue owing to the well-established healthcare system and the number of screening and other medical procedures being done in this region. People in various countries of this region are preferring to take non-invasive procedures which is expected to boos the growth of the market.
Covid-19 has badly affected the economies across the world. Many countries had imposed lockdowns, travel bans, and social distancing norms to control the negative effects of coronavirus. Due to the pandemic, many industries and businesses suffered losses. The pandemic had slight positive impact on Global Focused Ultrasound System Market.
Global Focused Ultrasound System market size was estimated at USD 4.64 billion in 2021 and is expected to reach USD 9.7 billion in 2032.
Focused ultrasound is a fast evolving, noninvasive technology with aids in transforming the treatment of medical disorders using ultrasonic energy without incisions or radiation to body.
Hospital and Radiology segment accounted for the largest Global Focused Ultrasound System market share.
Key players: EDAP, Alpinion Medical Systems Co., Ltd, SonaBlate Medical, Haifu Medical Technology Co. Ltd., Theraclion, Mirabilis Medical, Inc, FUS Instruments, INSIGHTEC Ltd., MEDSONIC LTD, Mianyang Sonic Electronic Ltd., Changjiangyuan Technology Development, Philips Healthcare, Siemens Ltd and Other Prominent Players are the key players in the Global Focused Ultrasound System market.
Advancements in Technology and High Incidence of diseases are the factors driving the Global Focused Ultrasound System market.
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