The anticipated size of the focused ultrasound system market in 2022 was USD 7,014.5 million and is estimated to be USD 7,353.85 million in 2023. The emergence of markets would be the most affected, as the growth of the population in developing countries is anticipated to be rapid, which resulted in increased healthcare spending.
Future Market Insights has mentioned in its reports that the focused ultrasound system market will expand at a CAGR of 6.1% between 2023 and 2033, totaling around USD 13,281.55 million by 2033.
Over the years, focused ultrasound systems have gained immense traction across the healthcare industry on account of their non-invasive nature. This medical equipment is used to perform focused ultrasound i.e., an image-guided, non-invasive procedure that uses sound waves to treat numerous health conditions such as tremors and Alzheimer's disease.
Focused ultrasound systems allow medical professionals to use ultrasound energy to target a specific area without affecting the surrounding tissues. The growing adoption of focused ultrasound for non-invasive and site-specific treatment of different diseases is proving a major impetus to market growth.
Similarly, easy acceptance of focused ultrasound systems by healthcare workers and patients is expected to drive market growth.
By technology, the MR-guided focused ultrasound system is anticipated to lead market growth due to its high efficiency. The application of focused ultrasound systems is expected to grow further in the oncology sector while hospitals are set to drive the market growth of focused ultrasound systems from the end-user segment.
| Attributes | Details |
|---|---|
| Projected Forecast Value (2022) | USD 7,014.5 million |
| Projected Forecast Value (2023) | USD 7,353.85 million |
| Projected Forecast Value (2033) | USD 13,281.55 million |
| Growth rate | 6.1% CAGR |
| Forecast period | 2023 to 2033 |
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Global focused ultrasound system market grew at a CAGR of 3.9% between 2017 and 2022. Growth forecasts remain optimistic, with the market predicted to exhibit a CAGR of 6.1% between 2023 and 2033.
Government initiatives thus raise awareness about the importance of early detection which has increased the demand for ultrasonic imaging instruments. Surge in demand for ultrasound imaging devices is mainly used for nominal invasive diagnostic and therapeutic applications, as well as for the introduction of more technologically advanced ultrasound equipment, where the demand for ultrasound imaging devices has increased over the previous year.
Usage of ultrasound technologies for diagnosing patients earlier contributes to lower overall healthcare costs. Usage of ultrasound devices is also anticipated to rise as the number of patients with chronic conditions increases, by fuelling the market's expansion.
Rise in the Prevalence of Various Chronic Diseases
Rising prevalence of various chronic diseases such as cancer and Alzheimer's disease and the growing preference for non-invasive treatment procedures are some of the major factors pushing the demand for focused ultrasound systems.
Focused ultrasound systems have become highly sought-after medical devices used for the treatment of a wide range of diseases on account of their various benefits. These medical systems offer a non-invasive and site-specific treatment, reduce hospital lengths of stay, and eliminate the need for analgesics. Besides this, treatment with focused ultrasound systems only requires around 2 to 4 hours. All these factors together drive the market demand for focused ultrasound systems.
Rise in Adoption of Focused Ultrasound
Increasing adoption of focused ultrasound for acquired real-time monitoring is expected to boost the sales of focused ultrasound systems during the forecast period. Healthcare workers are increasingly using focused ultrasound systems along with MRI scanners to see real-time visuals of tissues that require treatment. This improves the preciseness and the outcome of the treatment.
Increase in Investments in Research and Development
Rising investments in research and development and a surge in the growing number of clinical trials by manufacturers of focused ultrasound systems are expected to propel market growth.
Penetration of Focused Ultrasound Systems is Low in Middle and Low-Income Countries
Focused ultrasound system has certain aspects that impede the growth of the market. The product penetration of focused ultrasound systems is notably low in middle and low-income countries. This is expected to hamper the growth of the focused ultrasound systems market.
High Cost of Ultrasound Machines
Factors such as the discomfort experienced by patients during the treatment, certain risks of bleeding, and the high cost of ultrasound machines might also impede the growth of the focused ultrasound systems market during the assessment period.
North America is expected to hold a significant share in the global focused ultrasound systems market with a market share of 20%. High product penetration of focused ultrasound systems in the region is a prime reason for this lead. The advanced healthcare sector and a higher number of medical procedures taking place in the region also aid market growth.
United States has a dominant share in this market with a value share of 16.7% where easy compliance and preference of patients for non-invasive procedures will also propel market growth for focused ultrasound systems in the region.
Growing healthcare infrastructure and increasing investments in the healthcare field are set to expand the Asia Pacific-focused ultrasound market. Asia Pacific is predicted to be the fastest-growing focused ultrasound systems market. Rapidly expanding and improving the healthcare sector in emerging economies like China expanding at a CAGR of 7.6% and India expanding at a CAGR of 5.6% is thus anticipated to drive a focused ultrasound systems market in the Asia Pacific.
Rising prevalence of various chronic diseases such as cancer, brain tumor, and Parkinson's disease, and growing health awareness among people are igniting the demand for early diagnosis and treatment of these diseases. This in turn is creating space for the growth of the focused ultrasound systems market in the region.
Rise in awareness and diagnosis of early disease and the technological advancements in the ultrasound imaging market for ultrasound imaging devices in Europe is seen to be expanding. Increase in the geriatric population and the increase in demand for ultrasound imaging technologies are thus used for least-invasive diagnostic and therapeutic purposes that will help in accelerating the market expansion.
Europe, therefore has a market share of 33.7% with the United Kingdom consisting of a major portion, expanding at a CAGR of 5.1%.
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Ultrasound-guided machines have a value share of 56% and are now considered to be employed in emergency departments mainly for giving anesthesia, by expanding their range of potential uses. Manufacturers are on the verge of introducing newer technologies, for example, 3D and 4D imaging, so as to make their devices smaller and more portable because of technological improvements, which will further boost the growth of the portable ultrasound segment.
Trials are done in a number of areas in the case of urology with a market share of 42.3% which is considered to be the most promising at this present moment and is also used for the treatment of renal and prostate cancers. Treatment of renal cancer is currently limited due to the position of the kidneys and the presence of ribs and perinephric fat, but nowadays treatment for prostate cancer is becoming more established.
The globally focused ultrasound system market is fairly competitive. Some of the leading players present in the market include 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 among others.
Leading companies in the market are investing in research and development activities so as to expand their existing product portfolios. For instance, Israel-based INSIGHTEC Ltd., is focusing its energies on developing a focused ultrasound system for the treatment of Parkinson’s disease. This ultrasound system is in stage three of clinical trials for FDA approval.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 6.1% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2017 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Technology, Application, End User, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia & Pacific; East Asia; Middle East & Africa |
| Countries Covered |
United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, China, Japan, South Korea, India, Bangladesh, Australi, New Zealand, GCC countries, South Africa, Israel |
| Key Companies Profiled | 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 |
| Customization | Available Upon Request |
The projected revenue of the market by 2033 is USD 13,281.55 million.
The market CAGR for 2033 is projected to be 6.1%.
The market is valued at USD 7.353.85 million in 2023.
North America holds a substantial market share.
Increase in clinical trials driving the market in North America.
| Estimated Market Size (2024) | USD 139.9 million |
|---|---|
| Projected Market Revenue (2034) | USD 188.8 million |
| Value CAGR (2024 to 2034) | 3.1% |
| Market Size Value (2022) | USD 2.08 Billion |
|---|---|
| Market Size Value (2032) | USD 3.39 Billion |
| Market CAGR (2022 to 2032) | 5% |
| Projected Value (2032) | USD 6.6 billion |
|---|---|
| CAGR Value (2022 to 2032) | 7% |
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