July 14, 2024

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Therapeutic Ultrasound Market Growth, Revenue Share Analysis, Company Profiles, and Forecast To 2030

The global therapeutic ultrasound market size is expected to reach USD 4.07 Billion at a steady revenue CAGR of 8.5% in 2030, according to latest analysis by Emergen Research. Market revenue growth is primarily driven by factors such as technological advancement, increase in number of ultrasound procedures, and rise in prevalence of chronic conditions. For instance, Iota Biosciences, based in Berkley, California, is upending the implantable market by using ultrasound instead of batteries or electromagnetic waves to power their miniature neurostimulation devices. The business has developed a millimeter-sized neural dust platform for ultrasonic therapy, which treats a range of neurological problems such as inflammation, motor abnormalities, and cognitive loss. This technology used by Iota drives biometric monitoring, including measurement of nerve activity and core body temperature, as well as nerve stimulation utilizing ultrasound waves. The company completed a USD 15 million series A investment in February. In addition, technological advancements are leading to a rise in demand for therapeutic ultrasound, which is in-turn, driving revenue growth of the market.

A recent trend in the market is use of therapeutic ultrasound for various new treatments. For instance, Madorra is developing the first hormone-free medical device to treat postmenopausal women’s vaginal dryness. This device, which is intended for use at home, provides a substitute for creams and medications that modify hormones and increase risk of stroke or breast cancer in big populations of women. Madorra uses a hand-held ultrasonic device to create heat within vaginal tissue that can conduct 5 to 8 centimeters deep while this device itself remains completely external. Madorra received a funding of USD 4 million from OneVentures to fund clinical trials in Australia.

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Some Key Highlights From the Report

  • On 18 March 2022, the Chinese government donated a High-Intensity Focused Ultrasound (HIFU) therapy system to China-Dominica Friendship Hospital in Roseau, Commonwealth of Dominica, which was created by Chongqing’s Haifu Medical Technology Co., Ltd., a medical engineering company. This project was contracted by Chinese Hunan Construction Engineering Group and construction was completed in 2019 due to the delay brought on by Hurricane Maria. The clinic training step was again delayed to March 2022 by Covid-19 outbreak that occurred in early 2020.
  • The high intensity focused ultrasound segment is expected to lead in terms of revenue share in the global market over the forecast period owing to increasing prevalence of prostate cancer. High-Intensity Focused Ultrasound, or HIFU, is a novel, noninvasive treatment for prostate cancer and the pain caused by cancer that has spread to bones. This ultrasonic transducer used for HIFU is the same as those used for diagnostic imaging and albeit producing much stronger sound waves. Similar to how a magnifying glass can concentrate sunlight to burn a hole in paper, HIFU transducer concentrates sound waves onto a small area of abnormal tissue, producing enough heat to kill the cells. Focused ultrasound surgery is another term for this process, as is MRI-Guided Focused Ultrasound (MRgFUS).
  • The hospitals segment is expected to account for large revenue share over the forecast period due to increasing number of hospitals offering surgical treatments to treat patients. For example, USF Health Morsani College of Medicine neurosurgeons at Tampa General Hospital (TGH) for the first time in this region started using a brand-new focused ultrasound and state-of-the-art procedure, offers a promising cure for people with Parkinson’s disease, Essential Tremor (ET), and other disabling neurological conditions. This minimally invasive procedure has FDA approval. The hospitals segment is driving market revenue growth as more institutions adopt new technology and make it available to the public.
  • Some major companies operating in the global market report include Dornier MedTech, EDAP TMS, Philips Healthcare, InSightec, Sonablate, Siemens Healthcare GmbH, Shenzhen Huikang Medical Apparatus Co., Ltd., Canon Medical Systems Corporation, Fujifilm Europe GmbH, and General Electric.

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Emergen Research has segmented the global therapeutic ultrasound market based on technology, end-use, application, and region:

  • Technology Outlook (Revenue, USD Million; 2019–2030)
    • High Intensity Focused Ultrasound
    • Extracorporeal Shockwave Lithotripsy
  • End-Use Outlook (Revenue, USD Million; 2019–2030)
    • Hospitals
    • Clinics
    • Diagnostic Centers
    • Ambulatory Surgical Centers
    • Others
  • Application Outlook (Revenue, USD Million; 2019–2030)
    • Physical Therapy
    • Cancer
    • Gynecology & Obstetrics
    • Cardiovascular Disorders
    • Urinary Disorders
    • Others
  • Regional Outlook (Revenue, USD Million; 2022-2030)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. UK
      3. France
      4. Italy
      5. Spain
      6. Sweden
      7. BENELUX
      8. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Israel
      5. Rest of Middle East & Africa

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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