New York, United States , April 24, 2024 (GLOBE NEWSWIRE) -- The Global Fusion Biopsy Market Size is to Grow from USD 565.5 Million in 2023 to USD 1266.8 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 8.4% during the projected period.
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Fusion biopsy, sometimes referred to as focused biopsy, is a precise and accurate biopsy technique that makes use of MRI and ultrasound technology. A fusion biopsy combines MRI and ultrasound images to create a three-dimensional image of the prostate gland. This procedure makes it easier to visualize an abnormal tissue area and guide the biopsy needle into it. Before the fusion biopsy, medical professionals would collect random samples from different prostate regions. The MRI/ultrasound fusion biopsy starts with a prostate MRI on a 3T MRI. A radiologist will read this initial exam and look for any abnormalities that might indicate cancer. The increasing prevalence of prostate cancer is a significant market driver for the global fusion biopsy market. Prostate cancer is one of the most common cancers in men worldwide, and its increasing prevalence has significant implications for the demand and use of fusion biopsy techniques. The global incidence of prostate cancer has steadily increased in recent decades. This can be attributed to several factors, including aging populations, changing lifestyles, and improved diagnostic methods for early detection of prostate cancer. However, fusion biopsy, which makes use of advanced imaging technologies, can be more expensive than traditional biopsy procedures. The cost of MRI machines, specialized software, and additional expertise required to perform fusion biopsies can be significant barriers.
Browse key industry insights spread across 200 pages with 115 Market data tables and figures & charts from the report on the "Global Fusion Biopsy Market Size, Share, and COVID-19 Impact Analysis, By Biopsy Route (Transrectal, Transperineal), By End-User (Hospitals, Diagnostic Centers, Ambulatory Care Centers), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The transrectal segment is anticipated to hold the largest share of the global fusion biopsy market during the predicted period.
Based on the biopsy route, the global fusion biopsy market is categorized into transrectal and transperineal. Among these, the transrectal segment is anticipated to hold the largest share of the global fusion biopsy market during the predicted period. The transrectal approach accounts for the majority of commercially available fusion biopsy techniques, contributing to its market dominance. However, reports of fever, sepsis, hematuria, and rectal bleeding after transrectal fusion biopsy have slowed market growth in this segment.
The hospitals segment is anticipated to hold a significant share of the fusion biopsy market during the predicted period.
Based on the end-user, the global fusion biopsy market is categorized into hospitals, diagnostic centers, and ambulatory care centers. Among these, the hospitals segment is anticipated to hold the largest share of the global fusion biopsy market during the predicted period. because of their significant purchasing power. A fusion biopsy system has a high average unit cost, rendering it unaffordable for private diagnostic centres. However, as the demand for prostate cancer care in rural areas grows, ambulatory care centers are expected to use these systems more frequently. Hospitals provide continuity of care, which improves the patient experience and the effectiveness of fusion biopsy as a diagnostic tool.
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North America is expected to hold the largest share of the global fusion biopsy market over the predicted timeframe.
North America is expected to hold the largest share of the global fusion biopsy market over the predicted timeframe. North America boasts a highly developed and advanced healthcare infrastructure. This includes an extensive network of hospitals, clinics, and diagnostic facilities equipped with cutting-edge medical technology. Fusion biopsy, which requires advanced imaging equipment and specialized knowledge, is more commonly available in this area. Prostate cancer is a major health concern in North America, with a high incidence rate. The prevalence of this cancer necessitates the use of precise and reliable diagnostic tools, such as fusion biopsy. Given the emphasis on early detection and treatment, fusion biopsy is an important component of the region's healthcare delivery.
Europe market is expected to grow at the fastest CAGR growth during the forecast period. In Europe, there has been an increase in awareness campaigns and initiatives to promote early cancer detection. Prostate cancer awareness and screening programs have gained popularity, leading to an increase in patients seeking diagnostic services such as fusion biopsy. Europe has invested in improving its healthcare infrastructure, especially in countries with advanced healthcare systems.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global Fusion Biopsy market are Eigen Health, Koninklijke Philips N.V., Hitachi Ltd., MedCom, ESAOTE SpA, KOELIS, Focal Healthcare, UC-Care Medical Systems Ltd., GeoScan Medical, Esaoate SpA, and among others.
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Recent Developments
- In May 2022, Koelis, SAS, a leader and innovator in prostate care, has announced the availability of new Trinity 3D ultrasound and MRI fusion platform features. The Koelis Trinity system combines 3D ultrasound imaging with proprietary MRI-US fusion image guidance, which includes the company's proprietary prostate motion tracking software (OBT Fusion).
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global fusion biopsy market based on the below-mentioned segments:
Global Fusion Biopsy Market, By Biopsy Route
- Transrectal
- Transperineal
Global Fusion Biopsy Market, By End-User
- Hospitals
- Diagnostic Centers
- Ambulatory Care Centers
Global Fusion Biopsy Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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