MRI-guided Focused Ultrasound Device Market

MRI Guided Focused Ultrasound Device Market Study by MRI-, US-, and MRI- & US-Guided for Prostate Cancer, Uterine Fibroids, Liver Cancer, Glaucoma, Bone Metastases, and Others from 2024 to 2034

Analysis of MRI Guided Focused Ultrasound Device Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

MRI Guided Focused Ultrasound Device Market Outlook (2024 to 2034)

The global MRI guided focused ultrasound device market is valued at US$ 223.5 million in 2024. The sales for MRI guided focused ultrasound devices are estimated to expand at a 10.1% CAGR, reaching a valuation of US$ 585.7 million by 2034.

The rising frequency of chronic illnesses, including cancer and neurological conditions, increases the demand for novel and effective treatment alternatives such as the MRI guided focused ultrasound device. To meet the healthcare demands of expanding populations, new medical technology, such as MRI guided focused ultrasound devices, are likely to be adopted as emerging countries' healthcare infrastructure develops.

New markets and development prospects are likely to emerge from the research of MRI guided focused ultrasound device applications in developing therapeutic domains, such as drug delivery mechanisms or neuropsychiatric illnesses.

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Key Trends Boosting Market Growth

“Rising Diversification of Clinical Applications”

A wider range of uses for MRI guided focused ultrasound devices in clinical settings is indicative of a growing market. This trend suggests a tactical change in focus to target a larger spectrum of medical issues, offering market participants a chance to seize new market niches and spur revenue development. In a fierce market competition, businesses that allocate resources to research and development to explore and profit from these broader applications are positioned for success.

“Growing Integration with Wearable Technologies”

Wearable technology and MRI-guided, focused ultrasound device integration are strategic trends in the market that improve patient surveillance and engagement. By offering real-time data for better treatment results and adherence, companies that integrate wearable devices into their treatment ecosystems support the move toward patient-centered care. This strategic alignment appeals to consumers and healthcare providers looking for comprehensive, tech-enabled healthcare solutions by positioning MRI guided focused ultrasound devices as both a treatment modality and an integrated part of the larger digital health environment.

“Increasing Emphasis on Eco-friendly Manufacturing”

A dedication to environmental stewardship is demonstrated by the growing trend in the MRI guided focused ultrasound device industry, emphasizing eco-friendly and sustainable production methods. Businesses that use green manufacturing techniques not only help preserve the environment but also conform to the changing standards of corporate social responsibility. This strategic stance improves the business's reputation and is often appreciated by stakeholders who prioritize sustainability when making investment and purchasing decisions.

Report Attributes Details
Estimated Market Value (2024E) US$ 223.5 million
Forecasted Market Value (2034F) US$ 585.7 million
Global Market Growth Rate (2024 to 2034) 10.1% CAGR
US Guided Product Type Segment Growth Rate (2024 to 2034) 10.2%
Uterine Fibroids Indication Segment Growth Rate (2024 to 2034) 10.2%
North America Market Share (2024) 19.7%
Latin America Market Share (2024) 1.5%
Key Companies Profiled
  • Insightec Ltd.
  • Philips Healthcare
  • Siemens Healthineers
  • GE Healthcare
  • Profound Medical Corp.
  • EDAP TMS S.A.
  • Sonacare Medical LLC
  • FUS Instruments Inc.
  • Medtronic plc
  • ExAblate Neuro by InSightec

Which Factors Are Boosting the Demand for MRI Guided Focused Ultrasound Devices?

“Growing Prevalence of Targeted Medical Conditions”

A strong economic opportunity is presented by the increasing frequency of illnesses that can be treated with MRI guided focused ultrasound procedures. A rise in patients seeking cutting-edge therapies for conditions like uterine fibroids, essential tremors, and certain cancers. The key driver behind industry participants' strategic focus on developing and selling MRI guided focused ultrasound devices to meet this growing market requirement is the heightened demand.

“Increasing Preference for Minimally Invasive Procedures”

The global trend in healthcare toward less invasive treatments is influencing the MRI guided focused ultrasound device demand. This puts MRI guided focused ultrasound devices at the forefront of fulfilling modern healthcare standards and in line with consumer preferences for less intrusive therapies. Healthcare professionals looking to address the growing need for less intrusive medical procedures are likely to find MRI guided focused ultrasound devices to be a favored option due to their strategic adaptation to changing patient preferences.

“Rising Global Healthcare Expenditure”

Growth in the MRI guided focused ultrasound device market is supported by the ongoing rise in healthcare spending globally. With healthcare systems investing more in cutting-edge medical technologies, businesses that provide innovative MRI guided focused ultrasound solutions are likely to benefit from the increased demand for advanced care. The prospect of these technologies improving patient outcomes and boosting overall healthcare efficiency has made investors more inclined to invest in progressive healthcare solutions.

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Which Factors Impede this Market’s Growth Prospects?

“Limited Awareness and Education”

Strong marketing and educational efforts are necessary since MRI guided focused ultrasound applications are not widely recognized by the general public or healthcare professionals. Companies that want to promote MRI guided focused ultrasound as a recognized and preferred treatment option need to make strategic investments in holistic awareness campaigns and focused instructional initiatives.

“High Initial Investments Pose Challenges”

Healthcare providers have financial difficulties when purchasing MRI-guided focused ultrasound technology due to the significant upfront costs involved. Capital expenditures become crucial when making decisions, and businesses in the MRI-guided ultrasound device market must create strategic financing plans or pricing models to deal with financial restraints without sacrificing profitability.

Country-wise Insights

The North America MRI guided focused ultrasound device market is anticipated to witness significant expansion, with the market for MRI guided focused ultrasound devices in the United States leading at an 8.2% CAGR through 2034. According to estimates, Brazil is anticipated to lead the Latin America MRI guided focused ultrasound device market with a 7.7% CAGR until 2034.

Why is the Demand Expanding in the United States?

“AI Technology Advancements Propel Market to New Heights in the United States”

Country Value CAGR (2024 to 2034)
United States 8.2%

The demand for MRI guided focused ultrasound devices in the United States is poised to rise at an 8.2% CAGR through 2034. One distinct factor propelling the MRI guided focused ultrasound market growth in the United States is the incorporation of artificial intelligence (AI). Businesses that use AI for predictive analytics, treatment planning, and monitoring improve the accuracy and productivity of MRI guided focused ultrasound operations. In addition to drawing early adopters, this technical synergy portrays MRI guided focused ultrasound devices as cutting-edge, intelligent solutions that satisfy the desire of the American healthcare sector for cutting-edge technology.

Another factor driving the demand for MRI guided focused ultrasound devices is the United States' growing healthcare consumerism trends. To capitalize on the growing desire for individualized, non-invasive healthcare experiences, organizations should align their marketing strategies to highlight the consumer-friendly characteristics of MRI guided focused ultrasound devices, as patients continually seek for minimally invasive and patient-centric treatment choices.

Why is Brazil Emerging as a Lucrative Market?

“Growing Local Manufacturing Initiatives Create a Conducive Growth Environment in Brazil”

Country Value CAGR (2024 to 2034)
Brazil 7.7%

The MRI guided focused ultrasound device market growth in Brazil is estimated at a 7.7% CAGR through 2034. Local manufacturing programs and cost-cutting techniques are essential to the growth of the Brazilian MRI guided focused ultrasound device market. Businesses that make investments in regional production sites, efficient supply chains, and affordable manufacturing techniques complement Brazil's economic environment. In addition to addressing financial issues, this tactical move establishes MRI guided focused ultrasound devices as a competitive and financially sustainable offering in the Brazilian healthcare industry.

One unique aspect driving the market's growth in Brazil is the focus on tropical illness research and applications. Businesses integrating research on circumstances common in tropical regions into their product development methods obtain a competitive advantage. In the Brazilian healthcare setting, MRI guided focused ultrasound technologies are deemed relevant and beneficial when they tackle specific healthcare difficulties associated with tropical illnesses.

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Category-wise Insights

Why is US Guided the Leading Product Type?

“Rising Focus on Improved Patient Safety Bolsters Demand for US Guided Products”

Attribute US Guided (Product Type)
Segment Value (2024E) US$ 125.3 million
Growth Rate (2024 to 2034) 10.2% CAGR
Projected Value (2034F) US$ 329.5 million

Improved patient safety is the primary driver of the growing demand for ultrasound-guided (US guided) systems. When it comes to alternative modalities that do not include ionizing radiation, ultrasound stands out as a safer option because of this. The increased focus on patient safety is in line with a deliberate movement in the healthcare sector toward technologies that prioritize patient welfare in addition to clinical efficacy. Due to this safety-conscious approach, ultrasound-guided MRI devices are in high demand among healthcare practitioners and institutions.

Due to its adaptability in treating a wide range of medical diseases across specialties, ultrasound-guided MRI guided focused ultrasound devices are experiencing a noticeable increase in demand. This flexibility expands the market appeal by attracting physicians to investigate various uses outside of the standard indications. Offering a flexible solution gives ultrasound-guided MRgFUS devices a strategic edge by presenting them as multifunctional instruments that can adapt to the changing needs of healthcare providers looking for technology that can handle a range of clinical requirements.

Why is Uterine Fibroid Indication Witnessing Prominent Demand?

“Growing Awareness and Education to Address Uterine Fibroids Fosters Market Growth”

Attribute Uterine Fibroids (Indication)
Segment Value (2024E) US$ 97.2 million
Growth Rate (2024 to 2034) 10.2% CAGR
Projected Value (2034F) US$ 255.7 million

Increased market awareness and educational initiatives are closely linked to the rise in demand for MRI guided focused ultrasound operations for uterine fibroids. Focused awareness campaigns and educational programs are essential business tools for influencing healthcare practitioners and patients alike. Expanded transmission of knowledge has a favorable impact on clinical judgments and creates an atmosphere that is conducive to the adoption of the MRI-guided, focused ultrasound device by presenting it as a competent and proven alternative for the treatment of uterine fibroids.

Competitive Landscape

Key players in the MRI guided focused ultrasound device include Insightec Ltd., Philips Healthcare, Siemens Healthineers, GE Healthcare, Profound Medical Corp., EDAP TMS S.A., Sonacare Medical LLC, FUS Instruments Inc., Medtronic plc, and ExAblate Neuro by InSightec.

The MRI guided focused ultrasound device market is characterized by a combination of existing industry players, new startups, and strategic alliances. With their vast product portfolios, established brand recognition, and global market reach, leading businesses like Siemens Healthineers, GE Healthcare, and Philips Healthcare influence the market. These massive players in the market use their extensive distribution networks and significant R&D expenditures to stay ahead of the competition and provide complete MRI guided focused ultrasound solutions that complement more expansive healthcare plans.

Recent Developments

  • In November 2023, NeedleVue, a novel ultrasound-guided needle technology, was launched by DeepSight Technology, a medical device company. The company aims to offer safety in the realm of directed interventional tool guiding.
  • In August 2023, GE HealthCare introduced the handheld ultrasound device Vscan Air SL at the European Society of Cardiology (ESC) Congress in Amsterdam, Netherlands. It offers proprietary image-enhancing technology and the capability to switch between vascular and cardiac assessments with one device at the point of care.

MRI Guided Focused Ultrasound Device Market Segmentation

  • By Product Type :

    • MRI Guided
    • US Guided
    • MRI & US Guided
  • By Indication :

    • Prostate Cancer
    • Uterine Fibroids
    • Liver Cancer
    • Glaucoma
    • Bone Metastases
    • Breast Cancer
    • Brain
    • Others
  • By End User :

    • Hospitals
    • Academic & Research Centers
    • Oncological Treatment Centers
  • By Region :

    • North America
    • Europe
    • Latin America
    • East Asia
    • South Asia & Oceania
    • The Middle East & Africa

- FAQs -

How Big is the MRI Guided Focused Ultrasound Device Market?

The MRI guided focused ultrasound device market is valued at US$ 223.5 million in 2024.

What is the Projected CAGR of the MRI Guided Focused Ultrasound Device Market?

The MRI guided focused ultrasound device market size is expected to rise at a 10.1% CAGR through 2034.

How Big the Market is Expected to Be by 2034?

The MRI guided focused ultrasound device market is anticipated to be worth US$ 585.7 million by 2034.

Which is the Leading Product Type in the MRI Guided Focused Ultrasound Device Market?

US guided products are in high demand in the industry.

Which Country is Rising at a Higher CAGR in the MRI Guided Focused Ultrasound Device Market?

The MRI guided focused ultrasound device market in the United States is predicted to rise at an 8.2% CAGR through 2034.

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