Artificial Intelligence
High Intensity Focused Ultrasound (HIFU) Market to Surpass US$ 182.9 Million by 2030, Says Coherent Market Insights (CMI)
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Burlingame, March 09, 2023 (GLOBE NEWSWIRE) — According to Coherent Market Insights, Global High-Intensity Focused Ultrasound (HIFU) Market is estimated to be valued at US$ 112.7 million in 2023 and is expected to exhibit a CAGR of 7.16% during the forecast period (2023-2030).
Analysts’ Views on Global High Intensity Focused Ultrasound (HIFU) Market:
High- intensity focused ultrasound (HIFU) market’s growth can be driven by the rising cases of liver cancer and colorectal cancer worldwide, as HIFU therapy is used in the treatment of cancer. For instance, according to World Cancer Research Fund International there were 1,931,590 new cases for colorectal cancer and 905,677 new cases for liver cancer respectively in the year 2020, worldwide.
Key Trends and Analysis of the Global High Intensity Focused Ultrasound (HIFU) Market:
Increasing growth strategies such as facility expansion by key players in the market is expected to drive the market growth over the forecast period. For instance, in August 2021, Sonic Concepts, Inc., a company focused on designing and development of innovative therapeutic and focused ultrasound solutions, announced that its office will relocate to new facility in Bothell, Washington. This new facility will focus on manufacturing of transducers and turnkey focused ultrasound systems.
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Global High Intensity Focused Ultrasound (HIFU) Market- Drivers
Increasing number of government initiatives for the management of prostate cancer
Increasing number of government initiatives for the management of prostate cancer is expected to drive market growth over the forecast period. For instance, in July 2022, EDAP TMS SA, a global company developing robotic energy-based therapies, announced that the U.S. Centers for Medicare and Medicaid Services (CMS) have released their proposed outpatient prospective payment system (OPPS) reimbursement rule for calendar year 2023, for EDAP TMS SA’s Focal One HIFU System. This new regulation would raise the reimbursement level for hospitals performing Focal One HIFU prostate ablations on an outpatient basis from APC (Ambulatory Payment Classifications) level 5 to APC level 6 for reimbursement purposes.
Increasing prevalence of neurological disorders
Increasing prevalence of neurological disorders is expected to drive the market growth over forecast period, as HIFU therapy is used in the management of neurological disorders. For instance, in 2021, according to Pan American Health Organization, in 2019, 533,172 people died worldwide because of neurological disorders such as multiple sclerosis, and Alzheimer’s disease, among others.
High Intensity Focused Ultrasound (HIFU) Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2022 | Market Size in 2023: | US$ 112.7 Mn | |
| Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 to 2030 | |
| Forecast Period 2023 to 2030 CAGR: | 7.16% | 2030 Value Projection: | US$ 182.9 Mn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | Koninklijke Philips N.V., Sonic Concepts, Inc., Theraclion, Sonablate, Alpinion Medical Systems Co., Ltd., Shanghai Carnation Medical Technology Co., Ltd., Insightec, FUS Instruments Inc., Mianyang Sonic Electronic, Profound Medical, Merz Pharmaceuticals GmbH, Image Guided Therapy, and Promedica Bioelectronics s.r.l. | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Global High Intensity Focused Ultrasound (HIFU) Market- Restraint
Side effects associated with HIFU therapy
The high intensity focused ultrasound (HIFU) market’s growth can be hindered by the side effects associated with the use of high intensity focused ultrasound (HIFU). The most common side effects include urinary problems and erectile dysfunction. Other short term side effects associated with HIFU include:
• Blood or tissue in Urine
• Erection Problems
• Urine Infections
• Urinary Problems
• Testicle Infections
• Fatigue
Global High-Intensity Focused Ultrasound (HIFU) Market- Opportunity
Increasing number of product approvals
Increasing number of product approvals by regulatory authorities is expected to boost the market growth over forecast period. For instance, in June 2021, U.S. FDA approved Sonalleve MR-HIFU system manufactured by Profound Medical Inc., a Canada-based medical technology company, for the treatment of osteoid osteoma.
Global High Intensity Focused Ultrasound (HIFU) Market Cross Sectional Analysis:
Among imaging technology, magnetic resonance imaging- HIFU therapy segment is dominant in U.S. region due to increasing research and development activities related to magnetic resonance imaging-HIFU therapy for the treatment of various disorders. For instance, in December 2020, Children’s National Research Institute, a research institute based in Washington, U.S., initiated a study determine treatment safety and efficacy of MR-HIFU ablation of painful Osteoid Osteoma (OO) in children and young adults. The study is in phase 2 of clinical trials and is expected to get completed by June 2023.
Global High Intensity Focused Ultrasound (HIFU) Market Segmentation:
The Global High Intensity Focused Ultrasound (HIFU) Market report is segmented into Product Type, Technology, Application, End User and Region
Based on Imaging Technology, the market is segmented into Ultrasound- HIFU Therapy, Magnetic Resonance Imaging- HIFU Therapy. Out of which, Magnetic Resonance Imaging- HIFU Therapy segment is expected to dominate in the high intensity focused ultrasound (HIFU) market during the forecast period and this is due to the increase in the product approvals by regulatory authorities.
Based on Indication, (Prostate cancer, Rectal tumors, Liver tumors, Renal tumors, others), skin care (Anti-aging treatment, Skin Laxity and Tightening, Others), neurological disorders, and others (Uterine Fibroids, Benign Prostatic Hyperplasia, etc.) Out of which, oncology segment is expected to dominate in the market over the forecast period and this is a due to increase in the use of HIFU and research and development activities regarding HIFU for the treatment of various cancer types
Based on End User, the high intensity focused ultrasound (HIFU) market is segmented into Hospitals, Ambulatory Surgical Centers, Dermatology Clinics and Others. Of which, Hospitals segment is expected to dominant in the market over the forecast period and this is due to the increase use of HIFU therapy for treatment of various conditions such as Anti-aging treatment in the hospitals
Among all segmentation, End User segment has the highest potential due to increasing installation of HIFU systems in the hospitals. For instance, in October 2022, TOOsonix A/S, a company in high intensity focused ultrasound (HIFU) technology for dermatology announced the installation of company’s ONE-M HIFU system in private clinic of dermatology Hautärtzte am Mark which is based in the Germany for the skin treatments such as removal of Fine-line wrinkles, Telangiectasia (spider veins), tattoo removal among others
Global High Intensity Focused Ultrasound (HIFU) Market: Key Developments
In October 2021, Sonablate Corp., a company developing high intensity focused ultrasound (HIFU) technologies, announced the completion of combined seed investment and committed sales distribution agreement totaling over US$ 70 million with SCI, a Canadian investment company to accelerate global HIFU development.
Increasing inorganic strategies such as partnerships by the key players in the market, is expected to drive the market growth over the forecast period. For instance, in September 2022, Theraclion, a France- based medical device company, announced partnership with Victor Dupouy Hospital Centre in Argenteuil for echo therapy for varicose veins. The hospital center has invested in the SONOVEIN, for the non-invasive treatment of varicose veins. SONOVEIN is based on HIFU technology which is used to treat varicose veins.
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Key Market Takeaways:
The global high intensity focused ultrasound (HIFU) market is expected to exhibit a CAGR of 7.16% during the forecast period, due to increasing government initiatives for the HIFU Procedure. For instance, in November 2022, Sonablate Corp., a company developing invasive focused ultrasound technologies, announced a significant increase in the Sonablate HIFU procedure reimbursement rate for hospital outpatient facilities for the Centers for Medicare & Medicaid Services (CMS)
Among indication, oncology segment is dominant due to increasing research and development activities by the research organizations for treatment of cancer, is expected to drive the segment growth over the forecast period. For instance, Hospices Civils de Lyon, a Hospital in France, initiated a study for efficacy evaluation of focused HIFU (High Intensity Focused Ultrasound) therapy in patients with localized intermediate risk prostate cancer. The study is in phase 2 of clinical trials and is expected to complete in September 2025.
On the basis of imaging technology, Magnetic Resonance Imaging- HIFU Therapy segment is expected to hold a dominant position over the forecast period, owing to increasing adoption of organic growth strategies such as product launches by key players in the market to expand their product portfolio. In June 2022, Promaxo, a medical imaging, robotics, and AI (Artificial Intelligence) technology company, announced sale of its in-office MRI system to the East Valley Urology Center based in Mesa, Scottsdale, and Phoenix, Arizona, metropolitan. Promaxo’s MRI has AI-based imaging system and has U.S. FDA-approval for in-office use.
Competitive Landscape:
Key players operating in the Global High Intensity Focused Ultrasound (HIFU) Market include Koninklijke Philips N.V., Sonic Concepts, Inc., Theraclion, Sonablate, Alpinion Medical Systems Co., Ltd., Shanghai Carnation Medical Technology Co., Ltd., Insightec, FUS Instruments Inc., Mianyang Sonic Electronic, Profound Medical, Merz Pharmaceuticals GmbH, Image Guided Therapy, Promedica Bioelectronics s.r.l.
Market Segmentation:
- Global High Intensity Focused Ultrasound (HIFU) Market, By Imaging Technology:
- Ultrasound- HIFU Therapy
- Magnetic Resonance Imaging- HIFU Therapy
- Global High Intensity Focused Ultrasound (HIFU) Market, By Indication:
- Oncology
- Prostate cancer
- Rectal tumors
- Liver tumors
- Renal tumors
- Others (Breast Cancer, Vaginal Cancer, etc.)
- Skin Care
- Anti-aging treatment
- Skin Laxity and Tightening
- Others (Jawline Enhancement, Eyelids or Eyebrows lifting, etc.)
- Neurological Disorders
- Others (Uterine Fibroids, Benign Prostatic Hyperplasia, etc.)
- Oncology
- Global High Intensity Focused Ultrasound (HIFU) Market, By End User:
- Hospitals
- Ambulatory Surgical Centers
- Dermatology Clinics
- Others (Research Institutes, specialty Centers, etc.)
- Global High Intensity Focused Ultrasound (HIFU) Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Middle East
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
BEIJING, April 26, 2024 /PRNewswire/ — A news report from China Daily:
Greater efforts are needed to strengthen international cooperation in science and technology, explore ways of jointly solving important global issues through technological innovation, and develop new quality productive forces, said officials, experts and company executives on Thursday in Beijing.
Addressing the opening ceremony of the 2024 Zhongguancun Forum, Vice-Premier Ding Xuexiang said China is willing to work with the international community to practice the concept of open, fair, just and nondiscriminatory international sci-tech cooperation, and to jointly build a global sci-tech community.
The country will explore a new model regarding mutually beneficial global cooperation in sci-tech innovation, and will break down barriers restricting the flow of knowledge, technology, talent and other innovative factors, to jointly create an open innovation ecosystem.
Yin Li, secretary of the Communist Party of China Beijing Municipal Committee, said the capital will ramp up efforts to improve its innovation capacities, accelerate the building of world-leading science and technology parks, increase investment in basic research and make breakthroughs in core technologies in key fields.
Data from the Ministry of Science and Technology showed that China’s research and development investment exceeded 3.3 trillion yuan ($455.4 billion) in 2023, up 8.1 percent year-on-year, and the spending on fundamental research reached 221.2 billion yuan, an increase of 9.3 percent over the previous year.
China’s strength in scientific and technological innovation has taken a major leap in recent years. Marco Aleman, assistant director-general of the World Intellectual Property Organization, said China is a powerhouse of innovation that contributes to global growth and sustainable development.
According to WIPO, the country stands as a global innovation leader, ranking 12th in the Global Innovation Index 2023, and it owned 24 of the top 100 science and technology clusters globally by the end of last year, ranking first in the world for the first time.
Quarraisha Abdool Karim, president of the World Academy of Sciences, said ensuring a sustainable future through partnership and cooperation creates an opportunity for all participants to explore new pathways toward achieving the United Nations’ Sustainable Development Goals.
Lei Jun, founder and CEO of Chinese tech company Xiaomi Corp, said the company will continue to step up investment in R&D and strive for breakthroughs in core technologies.
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Artificial Intelligence
Web O.No: Metaverse and Web 3.0 stunted by internet chaos, warn 87% of business leaders
Forrit report uncovers the internet is at breaking point, thanks to open source vulnerabilities, siloed web management systems, and poor website governance.
LONDON, April 26, 2024 /PRNewswire/ — A new study launched by Forrit, the next-generation, global content management system (CMS) provider, reveals that 89% of senior marketers and tech leaders are optimistic that Web 3.0 and the metaverse have the potential to revolutionise the way we interact with the web. However, the report, titled Web O.No: your business’ bleak online future and how to avoid it uncovered that 87% believe the current state of the internet will stunt these innovations – and none of the respondents have websites that are currently equipped for this transformative new internet era.
As we near the 31st anniversary of the World Wide Web’s entry into the public domain, UK business decision-makers unanimously agreed that “the Internet today is a mess,” citing security flaws, vulnerabilities with open source web management systems, ungoverned websites, and multiple layers of legacy CMS systems.
Despite the report focusing on heavily regulated industries, financial services, utilities, and the legal sector, over half of the respondents (57%) revealed they have website security flaws. They also admitted customers would lose trust if they were exposed. Security vulnerabilities were most prevalent among those who run their websites on open source solutions, rising to 79% in this group. Expert respondents underscored the specific risk of open source plug-ins. Created by multiple third-party developers, they leave websites open to malicious compromise.
Beyond cyber-attacks, the report highlights the heightened risk of outages, dysfunctional interfaces, and hazardous content hidden within neglected pages of reputable websites. The latter is a risk for those operating multiple website management (CMS) systems – a common practice among the participants. Shockingly 44% admitted they don’t have control of the website content as a direct result of this practice.
With the internet spiralling out of control, Forrit labels this chaotic online future Web O.No.
Peter Proud, CEO and Founder, Forrit, explains the role of composable CMS platforms in putting the brakes on this doomsday scenario, “Forget Web 3.0, we’re heading towards Web O.No – a grim reality of an internet unfit for purpose unless we act now. It’s time to stop layering on outdated, vulnerable web management systems, which exacerbate the problem. Embracing a next-generation composable web management platform would introduce a new era of security, flexibility, and scalability for the internet, empowering businesses to embrace the future.”
The respondents reinforced this sentiment, with 89% asserting that composable architecture would empower their organisation to future-proof their digital infrastructure. This includes granting them the flexibility to adopt AI into the website—a capability that is inhibited by their current web management system, according to 72% of respondents.
Gary Roberts, CRO, Forrit, underscores this significance: “Your website management platform (CMS) should be an enabler of digital innovation, not a barrier. Embracing composable web architecture removes the current barriers, providing a clear pathway to the future – whether that’s the metaverse, Web 3.0, or any other pioneering tech advancement as yet undiscovered.”
Click here to download Forrit’s report – Web O.No: your business’ bleak online future and how to avoid it.
About ForritUK-based, global content management system provider, Forrit, has been helping large businesses in highly-regulated industries keep their web estate secure, simple-to-scale and easy-to-manage, for the last 10 years.
Our mission? To allow IT and marketing to manage their digital estate in perfect harmony. Through Forrit’s intuitive UI, low code CMS and content management configuration platform (Service Delivery Hub), the CMO and CTO can take joint control of their web estate.
An Azure-native solution, through which businesses can leverage any and all Azure Cloud Services, including AI-powered translation and automated migration, Forrit CMS is future proof and can be scaled or de-scaled as needed.
Sound technical? Not at all. Forrit’s platform requires no prior Azure knowledge or technical expertise to get everything needed from it. The plus to this, the strain is taken off the IT team, and the marketing team can create unrivalled digital experiences and manage content with ease.
With enterprise-grade security to top it off, Forrit’s cloud-native CMS helps businesses simplify their workflows, streamline their marketing efforts and scale at speed, securely.
About the researchCensuswide conducted the research with 505 UK IT and marketing decision-makers between 01.03.24 and 12.03.24. Censuswide abides by and employs members of the Market Research Society, which is based on the ESOMAR principles, and is a member of The British Polling Council.
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Artificial Intelligence
Identity Governance & Administration Market Projected to Reach $24.42 billion by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 25, 2024 /PRNewswire/ — The report titled “Identity Governance & Administration Market by Component (Services, Solution), Modules (Access Certification & Compliance Control, Access Management, Identity Lifecycle Management), Organization Size, Deployment, Vertical – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $8.46 billion in 2023 to reach $24.42 billion by 2030, at a CAGR of 16.34% over the forecast period.
“Navigating Global Identity Governance With Key Strategies for Digital Security and Compliance”
Identity governance and administration (IGA) has emerged as a critical policy-driven approach aimed at fortifying digital identities within organizations, ensuring that proper access is provided to the right individuals for valid reasons. Across the globe, the demand for IGA solutions is on the rise, driven by the need to tackle sophisticated cyber threats, comply with stringent data protection laws, and adapt to the digitization wave sweeping through industries. Challenges include integrating these solutions with pre-existing IT frameworks, primarily in organizations reliant on legacy systems. The North American market, led by the United States and Canada, is at the forefront of this expansion, embracing technological advancements and stringent regulatory standards. Meanwhile, the Europe, Middle East, and Africa (EMEA) region is navigating its unique landscape, with the EU focusing heavily on compliance through GDPR and the Middle East and Africa gradually recognizing the value of digital security. The Asia-Pacific region is witnessing a significant uptrend in IGA solutions adoption, spurred by digital transformation initiatives and cybersecurity awareness, with China and India playing pivotal roles. This global perspective highlights the universal importance of IGA in today’s digital era, highlighting the critical balance between innovation, security, and regulatory compliance in safeguarding digital identities.
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“Navigating the New Normal With The Crucial Role of Identity Governance in Securing Hybrid Work Environments”
As businesses globally embrace the fusion of remote and traditional office work, the need for secure, hybrid workspaces becomes paramount. The shift toward flexible working models, accelerated by the COVID-19 pandemic, highlights the importance of cybersecurity and accessibility in ensuring operational continuity and a better work-life balance. Identity governance & administration (IGA) systems emerge as essential tools within this evolving work landscape. They enable organizations to manage digital identities and access rights effectively, safeguarding sensitive data against unauthorized access across diverse working environments. By ensuring that only credentialed employees can access critical information, regardless of their physical location, IGA solutions stand at the forefront of maintaining cybersecurity compliance and operational integrity. This development signifies a growing demand for robust identity governance frameworks, ensuring businesses remain resilient and secure in remote work and beyond.
“Elevating Security and Efficiency in Organizations through Specialized Identity Governance & Administration Services”
Managed and professional services provide organizations with the specialized expertise necessary for optimizing the performance and security of identity governance & administration (IGA) systems, eliminating the need for such in-depth knowledge internally. Businesses benefit from advanced skills that enhance system functionality and safeguard sensitive data by outsourcing specific IGA tasks. From the initial stages of integration and implementation, ensuring seamless incorporation with existing infrastructures, to ongoing support and maintenance for consistent system reliability and up-to-dateness, these services form the foundation of effective IGA strategies. Furthermore, training and consulting play a pivotal role, equipping companies with the understanding and capability to utilize their IGA systems to the fullest. IGA solution is a critical technological tool designed to streamline the management of user access rights across organizations, bolstering security, operational efficiency, and compliance with regulatory standards. This comprehensive approach to IGA facilitates a more secure, efficient, and compliant organizational environment, empowering businesses to focus on core objectives and ensure their data remains protected.
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“International Business Machines Corporation at the Forefront of Identity Governance & Administration Market with a Strong 7.09% Market Share”
The key players in the Identity Governance & Administration Market include Broadcom, Inc., SAP SE, Oracle Corporation, Microsoft Corporation, International Business Machines Corporation, and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Identity Governance & Administration Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Identity Governance & Administration Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Identity Governance & Administration Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
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“Dive into the Identity Governance & Administration Market Landscape: Explore 197 Pages of Insights, 654 Tables, and 26 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsIdentity Governance & Administration Market, by ComponentIdentity Governance & Administration Market, by ModulesIdentity Governance & Administration Market, by Organization SizeIdentity Governance & Administration Market, by DeploymentIdentity Governance & Administration Market, by VerticalAmericas Identity Governance & Administration MarketAsia-Pacific Identity Governance & Administration MarketEurope, Middle East & Africa Identity Governance & Administration MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
Related Reports:
Privileged Identity Management Market – Global Forecast 2024-2030Identity & Access Management Professional Services Market – Global Forecast 2024-2030Digital Identity Solutions Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
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