Market Trends of Ultrasonic Electrosurgical Devices Industry
High-intensity Focused Ultrasonic (HIFU) Ablators is Expected to Have a Significant Growth in the Market Over the Forecast Period
The high-intensity focused ultrasonic (HIFU) ablators are anticipated to hold the major share of revenue in the product type over the forecast period. HIFU ablators use acoustic energy from a high-intensity ultrasound beam. The major factors contributing to the demand for these devices are lower toxicity, minimal pain, and low cost of the procedure as compared to surgery. Moreover, these procedures require a lower rate of anesthesia, and a low risk of infection, and the patients recover at a faster rate than traditional surgical procedures.
The increase in the prevalence of chronic diseases and longer wait times for surgeries and the rising number of research activities related to the use of HIFU for the treatment of different diseases are expected to boost the use of HIFU ablators during the forecast period. For instance, in January 2022, under the Journal Cancers, EDAP published the positive pre-clinical results of using intraoperative HIFU ablation of locally advanced pancreatic cancer.
Furthermore, in September 2021, researchers from Taiwan's NHRI developed an innovative system that uses HIFU ablation to treat breast cancer with fewer side effects. Moreover, the collaborations among the market players and research institutes will help to promote technological advancement and better use of these devices. For instance, in June 2021, Theraclion collaborated with the University of Virginia Cancer Center to expand the use of the company's HIFU system with immunotherapy to treat breast cancer. Hence, the new research studies on the products in the segment increase the widespread applications which are expected to have a significant growth in the market over the forecast period.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America is expected to hold a significant share of the ultrasonic electrosurgical devices market over the forecast period. Government support promoting product development, availability of sophisticated healthcare infrastructure, longer surgical wait times, and high awareness among patients regarding the presence of advanced treatment devices are some prominent drivers for the growth of the market.
As per the Health Authorities in B.C. 2022, the surgical wait time for 90% of skin tumor removal cases in Canada is predicted to be 15.2 weeks. Longer open surgery wait times increase the adoption of minimally invasive techniques like electrosurgery, which rise the demand for ultrasonic electrosurgical devices in healthcare facilities and is expected to have a significant impact on the market over the study period.
Furthermore, the new initiatives of the market players through new approvals and launches in the region are expected to drive the market to grow. For instance, in May 2021, Orthofix Medical Inc launched the OSCAR PRO Ultrasonic Arthroplasty Revision System in the United States. The OSCAR PRO is an ultrasonic surgical device that assists in the removal of cement during difficult joint revision procedures. Thus, the new product launches increase the widespread distribution of products within the region and are expected to have significant growth in the market over the forecast period.
