Global Magnetic Resonance Image-Guided Focused Ultrasound (MRgFUS) System Market 2016 - 2024: Industry Size, Share, Growth, Forecasts
Latest
industry research report on: Global Magnetic Resonance Image-Guided
Focused Ultrasound (MRgFUS) System Market | Industry Size, Share,
Research, Reviews, Analysis, Strategies, Demand, Growth,
Segmentation, Parameters, Forecasts
Magnetic resonance image-guided
focused ultrasound system (MRgFUS) is a therapy delivery system used
for non-invasive thermal ablation surgery. It is a revolutionary
technology that offers high intensity focused ultrasound guided by
magnetic resonance imaging technology. This technology offers
real-time monitoring, target definition, treatment planning and
energy deposition for targeted tissue ablation without damaging
surrounding normal tissue. The system is integrated with software
that connects the imaging and the therapy system, through which the
operator can generate the treatment plan. This surgery is often
performed on an outpatient base without administering general
anesthesia. In July 2016, the U.S. FDA approved first focused
ultrasound devices i.e. ExAblate Neuro, which would be useful to
treat essential tremor in patients who do not respond to medication.
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The
global magnetic resonance image-guided focused ultrasound system
market is segmented on the basis of product type, indication, end
users and region. On the basis of product type, the market is
segmented into extracorporeal devices, intracavitary devices and
interstitial devices. Extracorporeal devices are used for targeting
organs that are readily accessible through an acoustic window on the
skin such as uterine fibroids or breast; intracavitary devices are
used for transrectal and transurethral treatment of prostate cancer
or for intraesophageal treatment; and interstitial devices are used
for treating the biliary duct and other difficult to access targets.
On the basis of indication type, the global magnetic resonance
image-guided focused ultrasound system market can be further
segmented into breast cancer, leaver cancer, brain cancer, bone
metastasis, glaucoma, uterine fibroids and others. Based on the end
users, global magnetic resonance image-guided focused ultrasound
system market can be further segmented into, hospitals, oncology
research centers, medical institutes, specialty clinics and
ambulatory surgical centers. Increasing prevalence of different
cancer such as breast cancer, leaver cancer and brain tumor; growing
glaucoma patient base in U.S. and growing gynecological indication
drives the demand for MRgFUS. Moreover, growing preference of
non-invasive surgical solutions for chronic diseases further boost
the market growth.
Increasing
cancer burden is one of the major health concern across the globe.
According to the World Health Organization (WHO), in 2012, around
14.1 million new cases were diagnosed and more than half of them are
from developing economies. In addition, 21.7 million cancer cases are
expected to be diagnosed by 2030 and around 13 million deaths are
expected. Similarly, more than 3 million American are currently
living with glaucoma and the number is expected to increase to 80
million by 2020. This factor propels the need of technologically
advanced devices to ensure better treatment in order to avoid risk
associated with surgical procedures. Based on geography, the global
magnetic resonance image-guided focused ultrasound system market is
segmented into five key regions, North America, Europe, Asia Pacific,
Latin America, and the Middle East and Africa. North America
accounted for the largest share of the magnetic resonance
image-guided focused ultrasound system market in 2015 followed by
Europe. MRgFUS are non-invasive devices which is effective in safe
surgical and monitoring devices and this factor has increased the
adoption of these devices among end users, which ultimately drives
the growth of global MRgFUS market. Also, there is a growing trend of
non-invasive surgery and out-patient base surgery, and a shift
towards advanced surgical solutions, which is drives the magnetic
resonance image-guided focused ultrasound system market in North
America & Europe. Asia Pacific is expected to witness remarkable
CAGR during forecast period, due to large population base, and high
prevalence of target and lifestyle diseases. However, poor
healthcare facilities in underdeveloped and emerging countries which
lack appropriate healthcare infrastructure and trained staff is
anticipated to affect the adoption in these countries. Moreover, high
cost associated with the MRgFUS devices and surgical procedures might
hinders the market growth.
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Some of the major players in
the global magnetic resonance image-guided focused ultrasound system
market include, Insightec Ltd., Alpinion Medical Systems Co., Ltd,
Profound Medical Corp., Shenzhen Huikang Medical Apparatus,
Theraclion, Monteris Medical, Inc., Eye Tech Care, Philips, and
Medtronic among others. The global magnetic resonance image-guided
focused ultrasound system market is fragmented with presence of many
local vendors which might impacts the growth opportunities for
international players.
The report offers a
comprehensive evaluation of the market. It does so via in-depth
qualitative insights, historical data, and verifiable projections
about market size. The projections featured in the report have been
derived using proven research methodologies and assumptions. By doing
so, the research report serves as a repository of analysis and
information for every facet of the market, including but not limited
to: Regional markets, technology, types, and applications.
The study is a source of
reliable data on:
Market segments and
sub-segments
Market trends and dynamics
Supply and demand
Market size
Current
trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder
analysis
The regional analysis
covers:
North America (U.S. and
Canada)
Latin America (Mexico,
Brazil, Peru, Chile, and others)
Western Europe (Germany,
U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands,
and Luxembourg)
Eastern Europe (Poland and
Russia)
Asia Pacific (China, India,
Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa
(GCC, Southern Africa, and North Africa)
The report has been compiled
through extensive primary research (through interviews, surveys, and
observations of seasoned analysts) and secondary research (which
entails reputable paid sources, trade journals, and industry body
databases). The report also features a complete qualitative and
quantitative assessment by analyzing data gathered from industry
analysts and market participants across key points in the industry’s
value chain.
A separate analysis of
prevailing trends in the parent market, macro- and micro-economic
indicators, and regulations and mandates is included under the
purview of the study. By doing so, the report projects the
attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop
analysis, which includes an assessment of the parent market
Important changes in market
dynamics
Market segmentation up to
the second or third level
Historical, current, and
projected size of the market from the standpoint of both value and
volume
Reporting and evaluation of
recent industry developments
Market shares and
strategies of key players
Emerging niche segments and
regional markets
An objective assessment of
the trajectory of the market
Recommendations to
companies for strengthening their foothold in the market
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