The global ultrasound surgical devices market is experiencing significant growth, with projections indicating it will reach a value of US$5.80 billion by 2027. This impressive expansion, which translates to a compound annual growth rate (CAGR) of 5.8% during the forecast period, can be attributed to various factors. Among them, the rise in the aging population and the increasing number of surgeries have created a fertile ground for market growth. Additionally, a shift towards minimally invasive surgeries has gained unprecedented support for ultrasound surgical devices.
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Improved Recovery and Precision in Surgical Procedures
Ultrasound surgical devices offer exceptional visibility with high-resolution images, enabling precise scalpel operations for complex incisions. Over the years, these devices have undergone significant improvements, resulting in minimal blood loss and fewer stitches, thereby shortening the recovery period. Furthermore, studies have shown that ultrasound surgical devices play a pivotal role in reducing the chances of post-operative infections and complications.
One key application area where ultrasound surgical devices have been widely utilized is uterine treatment, especially ultrasound ablation for uterine fibroids. The precision and accuracy of these devices have also greatly benefitted the field of sports injuries, providing a boost to the global ultrasound surgical devices market.
Continuous Innovation Drives Market Competition
Continuous innovation and the launch of new products have been generating healthy competition among major players in the global ultrasound surgical devices market. In September 2021, Medtronic introduced an ultrasonic device called Sonicision, a cordless ultrasound dissection device. Designed to provide surgeons with freedom of movement during surgeries, this device fits easily in the palm of the surgeon's hand, enhancing usability and maneuverability.
Bioventus, a leading player in the market, received FDA approval for its product named BoneScalpel® Access™ in 2021. Powered by the neXus Ultrasonic Surgical Aspirator System, this next-generation ultrasound surgical system offers additional power, control, and maneuverability. It provides surgeons with the advantage of tissue removal for both soft tissue and bone. The BoneScalpel Access handpiece offers a new option for confined spaces during minimally invasive surgery, enabling safe and powerful bone removal with maximum visualization.
In May 2021, Olympus launched the BF-UC190F, an ultrasound bronchoscope. This addition to their robust portfolio of endobronchial ultrasound devices enhances the diagnosis and staging of lung cancer through minimally invasive needle biopsy procedures.
High Intensity Focused Ultrasound (HIFU) Fuels Market Growth
The use of ultrasound in medical procedures has evolved significantly, with the introduction of High Intensity Focused Ultrasound (HIFU). Ultrasound's ability to penetrate deeper tissue and provide enhanced images, combined with the small wavelengths that accurately measure tumor dimensions, has paved the way for HIFU. This treatment delivers high-energy ultrasound waves to dissect tumors without affecting normal vasculature, leading to coagulative thermal energy that destroys the tumor. HIFU therapy finds application in facial skin tightening, melanoma, and the treatment of renal and prostate cancer.
Presently, commercially available HIFU systems include Sonablate®500, Ablatherm, ExAblate 2000 (Insightec), JM2.5C (Chongqing Haifu Technology Co., Ltd., Chongqing, China), HIFUNIT 9000 (Shanghai Aishen Technology, Shanghai, China), and a custom-made mobile HIFU unit from Storz Medical AG (Kreuzlingen, Switzerland). The lower dose of anesthesia, outdoor procedures, minimal blood loss, and quicker recovery associated with HIFU have driven its uptake and will contribute to the market growth for HIFU ablators.
North America Leading the Way in Minimally Invasive Surgeries
North America currently dominates the global ultrasound surgical devices market, primarily due to the high demand for minimally invasive surgeries and favorable reimbursement policies. The region's aging population and the increasing incidence of cancer have also contributed to the market's growth. The use of ultrasound surgical procedures in the treatment of uterine fibroids and tumors, with their associated benefits of reduced risk and minimal post-operative blood loss, has further propelled market expansion. On the other hand, the Asia Pacific region is expected to witness the highest growth rate during the forecast period. This growth can be attributed to the increasing awareness of less invasive procedures and rising disposable income for medical treatments. As a result, major players in the market are exploring lucrative opportunities in this region.
Key Players in the Global Ultrasound Surgical Devices Market
The global ultrasound surgical devices market is highly competitive, with several major players driving innovation and product development. Key market players include Johnson & Johnson, GE Healthcare, Koninklijke Philips N.V, Mindray Medical International, Fujifilm Holdings Company, Bioventus Inc., Medtronic, Hitachi Ltd, Siemens Healthineers, Olympus, Misonix, Applied Medical, Storz Medical, SoRing GmBH, Accuscience Ireland Ltd, BK Medical Holding Company Inc., Hologic, Inc., and Terason.
Conclusion
The global ultrasound surgical devices market is experiencing substantial growth, driven by the rise in the aging population, increased demand for minimally invasive surgeries, and continuous innovation in the field. The precision, accuracy, and reduced recovery period offered by ultrasound surgical devices have garnered attention across various medical applications, including uterine treatment and sports injuries. Furthermore, the introduction of HIFU technology has further expanded the market's potential. With North America leading the way, the market is set for continued growth, particularly in the Asia Pacific region. As major players strive to introduce new products and capitalize on emerging opportunities, the ultrasound surgical devices market is poised for a promising future.
FAQs (Frequently Asked Questions)
1. How much is the global ultrasound surgical devices market projected to reach by 2027? The global ultrasound surgical devices market is projected to reach US$5.80 billion by 2027.
2. What factors are driving the growth of the ultrasound surgical devices market? The market growth is driven by the rise in the aging population, increased demand for minimally invasive surgeries, and continuous innovation in surgical instruments.
3. Which regions are leading the global ultrasound surgical devices market? North America currently holds the largest market share, driven by the demand for minimally invasive surgeries and favorable reimbursement policies. The Asia Pacific region is expected to witness the highest growth rate during the forecast period.
4. What are some key applications of ultrasound surgical devices? Ultrasound surgical devices find applications in various medical fields, including uterine treatment, sports injuries, and the diagnosis and staging of lung cancer.
5. Who are the key players in the global ultrasound surgical devices market? Some major players in the market include Johnson & Johnson, GE Healthcare, Koninklijke Philips N.V, Mindray Medical International, Fujifilm Holdings Company, Bioventus Inc., Medtronic, Hitachi Ltd, Siemens Healthineers, Olympus, Misonix, Applied Medical, Storz Medical, SoRing GmBH, Accuscience Ireland Ltd, BK Medical Holding Company Inc., Hologic, Inc., and Terason.
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