High intensity focused ultrasound (HIFU) utilizes high-frequency acoustic waves concentrated on diseased tissues to heat and destroy them without harming surrounding healthy tissues. It is increasingly being used in applications such as treatment of uterine fibroids, prostate cancer, and aesthetic treatments such as skin tightening and non-invasive face and body lifting.
The global high intensity focused ultrasound market is estimated to be valued at US$ 129.84 Mn in 2024 and is expected to exhibit a CAGR of 4.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising adoption of HIFU in aesthetic applications has been a major trend propelling the growth of the high intensity focused ultrasound market. HIFU is gaining popularity as a non-invasive aesthetic treatment method to effectively tighten skin and reduce wrinkles and sagging. It involves using ultrasound to coagulate tissues below the skin’s surface, which stimulates collagen production for skin tightening and lifting effects. Compared to laser or invasive procedures, HIFU provides a safer and painless option for aesthetic treatments. The increasing consumer demand for non-surgical aesthetic treatments is expected to drive the uptake of HIFU among medical spas and aesthetic clinics over the forecast period.
SWOT Analysis
Strength: The Global High Intensity Focused Ultrasound Market Size utilizes non-invasive treatments which enable faster recovery times for patients.
Weakness: High costs associated with HIFU equipment and lack of reimbursement policies may limit the adoption rate.
Opportunity: Increasing applications of HIFU across oncology, gynecology and urology indicates significant growth potential over the forecast period.
Threats: Stringent regulatory approvals and presence of alternative treatment methods pose challenges for market growth.
Key Takeaways
The global high intensity focused ultrasound market is expected to witness high growth over the forecast period. The market size is anticipated to reach US$ 129.84 Mn in 2024 and is estimated to surpass US$ 159.42 Mn by 2031, expanding at a CAGR of 4.4% during the forecast period.
Regional analysis: North America dominates the global high intensity focused ultrasound market currently and is expected to maintain its leading position over the forecast period. This can be attributed to the growing prevalence of chronic conditions, presence of advanced healthcare infrastructure and favorable reimbursement policies in the region. Asia Pacific exhibits the fastest growth rate owing to rising medical tourism, increasing healthcare spending and growing awareness regarding HIFU procedures.
Key players: Key players operating in the high intensity focused ultrasound market are Ellex Medical Lasers Ltd, Iridex Corporation, Alcon, Carl Zeiss Meditec AG, Lumenis Ltd., Topcon Medical Laser System, Nidek Co. Inc., Ziemer Ophthalmic Systems AG, Heine Optotechnik GmbH, and Keeler Ltd. These companies are focusing on new product launches and business expansion strategies to gain competitive advantage in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it