Leeds, UK -- (SBWIRE) -- 07/15/2019 -- Global MRI guided and focused ultrasound devices are non-invasive therapy delivery system used for thermal ablation surgery. It offers real-time monitoring, treatment planning for targeted tissue ablation and doesn't damage the neighbouring healthy tissue.
MRI guided and focused ultrasound devices are bifurcated on the basis of product type and indications. On the basis of product type, the market is divided into magnetic resonance guided, ultrasound guided and magnetic resonance & ultrasound guided.
Magnetic resonance & ultrasound guided is expected to dominate the market in the coming years. Its cost effective feature is the major factor behind its growth.
On the basis of indication, the market is bifurcated into liver cancer, glaucoma, bone metastases, breast cancer and brain. Uterine fibrosis is vastly used by various manufacturers. It's forecasted to fuel the growth of the market in the coming years. Breast cancer indication is expected to grow promptly during the forecast period.
The rising demand for non-invasive method is expected to drive the growth of the market. It offers various advantages like alternative therapy after radiotherapy and possibility of retreatment.
The end users of the industry are academic & research institutes and hospitals. Hospitals hold the majority share of the market owing to the easy availability of facilities. They are expected to dominate the market in the forecast period.
According to the World Health Organization (WHO), Breast cancer is the most frequent cancer among women, impacting 2.1 million women each year. The rising number of breast and liver cancer cases has led to more demand for MRI guided and focused ultrasound devices which had a positive influence on the growth of the market. The rising demand for the non-invasive method is expected to drive the growth of the market. It offers various advantages like alternative therapy after radiotherapy and possibility of retreatment. The non-invasive method takes less time for recovery as well. Such factors are expected to boost the growth of the market.
Alternate procedures which are well established are expected to limit the growth of the market.
Region-wise, North America holds the majority share of the market. High product approval and increase in usage of non-invasive methods remain the key factors behind the growth of the market in the region. In the US, the FDA accepted in 2016 accepted the first MRI-guided focused ultrasound named ExAblate Neuro to diagnose essential tremor. Europe is expected to dominate the market in the coming years. A gradual rise in the availability of the device is expected to stimulate the growth of the market in the region.
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Major players of the market are Toshiba Corporation, Siemens AG, FUJIFILM Holdings Corporation, Hitachi Ltd, Analogic Corporation and Mindray Medical International Ltd.
Global MRI Guided and Focused Ultrasound Devices Market Segmentation:
By Product
- Magnetic Resonance Guided
- Ultrasound
- Magnetic Resonance & Ultrasound Guided
By Indications
- Uterine Fibroids
- Prostate Diseases
- Liver Cancer
- Glaucoma
- Bone metastases
- Breast Cancer
- Brain
By End User
- Academic & Research Institutes
- Hospitals
By Region:
- Europe
- North America
- APAC
- Latin America
- Rest of World
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Competitive Landscape:
- Tier 1 players- established companies in the market with a major market share
- Tier 2 players
- Emerging players which are growing rapidly
- New Entrants
FutureWise Takeaways:
- Growth prospects
- SWOT analysis
- Key trends
- Key data points affecting market growth
Objectives of the Study:
- To provide with an exhaustive analysis on global MRI guided and focused ultrasound devices market based on product type, indications, end users and region
- To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
- To evaluate and forecast micro-markets and the overall market
- To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
- To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
- Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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