In terms of revenue, the Global Fusion Biopsy Market is expected to reach by 2030, growing at a CAGR (Compound Annual Growth Rate) of 11.8% from 2023 to 2030.
The Fusion Biopsy market is experiencing growth due to several factors. One key factor is the rising global incidence of prostate cancer, which has increased the demand for Fusion Biopsy procedures as an effective diagnostic tool. Additionally, the market is being driven by the growing geriatric population, who are more susceptible to prostate cancer. Furthermore, advancements in imaging technologies and the development of advanced Fusion Biopsy systems have improved the accuracy and efficiency of the procedure, contributing to market expansion. Moreover, there is a growing awareness among individuals and healthcare professionals about the importance of early cancer detection and diagnosis, further boosting market growth. These factors combined are expected to drive the Fusion Biopsy market in the coming years.
Key Highlights from the Report
· Among Biopsy Route, the Transrectal market segment is anticipated to dominate the Fusion Biopsy market with the largest market share in the forecast period becauseit was considered the gold standard in performing prostate biopsy worldwide in the past decades.
· By End-use, the Hospitals market segment accounted for the maximum CAGR during the forecast period because of the availability of expert practitioners and better facilities.
· In terms of Region, Asia Pacific held the major market share in 2022 and is likely to be the most gainful market in the future. Elements including favorable reimbursement policies, the presence of key market players, and rising research and development activities in the region are aiding this market expansion.
Fusion Biopsy is a minimally invasive procedure that combines magnetic resonance imaging (MRI) and ultrasound technologies to guide the biopsy of suspected prostate cancer. It involves overlapping the MRI images with real-time ultrasound images to target suspicious areas for tissue sampling accurately. Fusion Biopsy improves the accuracy of diagnosis by providing more precise information about the location, size, and aggressiveness of tumors, minimizing unnecessary biopsies, and reducing the risk of missing clinically significant cancers.
The market for Fusion Biopsy has been growing rapidly due to the increasing incidence of prostate cancer worldwide and the growing demand for minimally invasive techniques for diagnosis and treatment. Fusion Biopsy has been shown to improve the detection rate of clinically significant prostate cancer compared to traditional random biopsy methods. The market for Fusion Biopsy is expected to continue growing in the coming years, driven by increasing awareness about the benefits of fusion-guided biopsies, the development of advanced imaging technologies, and the rising demand for personalized medicine.
However, the market may face challenges such as the high cost of Fusion Biopsy devices and the lack of reimbursement in some healthcare systems.
Asia Pacific Fusion Biopsy market is expected to witness a noteworthy development with a significant growth rate over the analysis period. This can be attributed to several factors, including the rising prevalence of prostate cancer and the increasing demand for early and accurate diagnosis. The region has an established healthcare system and a substantial adoption rate of advanced medical technologies, further contributing to market growth. Additionally, favorable reimbursement policies, the presence of key market players, and rising research and development activities in the region are driving the growth of the Fusion Biopsy market in Asia Pacific. Overall, Asia Pacific is expected to maintain its position as the largest region in terms of market share in the Fusion Biopsy market in the coming years.
The Global Fusion Biopsy Market is Segmented as follows
- Biopsy Route
- Diagnostic Centers
- Ambulatory Care Centers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Fusion Biopsy Market is
Eigen Technologies (U.S.), Koninklijke Philips N.V. (Netherlands), Hitachi Ltd. (Japan), MedCom (U.S.), ESAOTE SPA (Italy), KOELIS (France), Focal Healthcare (Canada), UC-Care Medical Systems Ltd. (U.S.), GeoScan Medical (U.S.)
The Global Fusion Biopsy Market Scope can be Tabulated as below
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|