SAN FRANCISCO, Sept. 7, 2021 /PRNewswire/ — The global fusion biopsy market size is estimated to reach USD 1.11 billion by 2028 registering a CAGR of 11.6%, according to a new report by Grand View Research, Inc. The increasing prevalence of prostate cancer, growing demand for targeted biopsy, and the rising utilization rate of multiparametric MRI in prostate cancer care are factors expected to drive the market during the forecast period.
Key Insights & Findings:
- The transrectal segment held the largest market share in 2019, as it is the gold standard and commonly used method of prostate fusion biopsy
- The transperineal segment is expected to grow at the fastest rate during the forecast period owing to the safety, diagnostic efficiency, and ability to access the ventral prostate areas
- The hospital segment accounted for the largest revenue share in 2019 because of the factors such as increasing the procurement rate of MR/US targeted fusion biopsy systems in teaching hospitals
- The diagnostics centers segment is expected to grow at a significant rate over the forecast period. Shorter wait times, cost efficiency, and developing reimbursement paradigm are the factors expected to drive the growth of this segment
- North America held the largest market share in the market in 2019 and is anticipated to maintain its dominance over the forecast period
- Asia Pacific is anticipated to witness a CAGR of 10.5% during the forecast period owing to factors such as growing awareness about the sensitivity and specificity of MRI/US targeted fusion biopsy systems among urologists especially in countries such as Japan, Australia, and China.
Read 100 page market research report, «Fusion Biopsy Market Size, Share & Trends Analysis Report By Biopsy Route (Transrectal, Transperineal), By End-use (Hospitals, Diagnostic Centers, Ambulatory Care Centers), By Region, And Segment Forecasts, 2021 – 2028», by Grand View Research
High sensitivity and specificity of targeted MR/Ultrasound fusion biopsy in delineating prostate lesions compared to other traditional technologies such as TRUS biopsy, PSA test, or Digital Rectal Examination is expected to contribute to the market growth. The reliability and reproducibility of the fusion biopsy system in the diagnosis of aggressive tumors is expected to make it a standard tool in prostate biopsy.
An increasing number of radiologists gaining expertise in interpreting prostate MRI coupled with the implementation of standard image grading systems such as PI-RADS and Gleason score has increased the utilization rate of targeted MR/Ultrasound fusion biopsy systems.
The increasing number of government initiatives in terms of funding research, spreading awareness, and conducting mass screening programs related to prostate cancer are expected to play a crucial in the growth of the market. Some of the growth strategies adopted by market players include partnership, product launch, participation in trade events and conferences, and acquisitions to sustain in this highly competitive market.
Grand View Research has segmented the global fusion biopsy market on the basis of biopsy route, end-use, and region:
- Fusion Biopsy Route Outlook (Revenue, USD Million; 2016 – 2028)
- Fusion Biopsy End-use Outlook (Revenue, USD Million, 2016 – 2028)
- Diagnostic Centers
- Ambulatory Care Centers
- Fusion Biopsy Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
List of Key Players of Fusion Biopsy Market
- ESAOTE SPA
- KOELIS Focal Healthcare
- GeoScan Medical
- UC-Care Medical Systems Ltd.
Check out more studies related to the Global Medical Devices Industry, conducted by Grand View Research:
- Cancer Biopsy Market – The global cancer biopsy market size was valued at USD 21.26 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.13% from 2021 to 2027.
- Breast Cancer Diagnostics Market – The global breast cancer diagnostics market size was valued at USD 3.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.0% from 2021 to 2028.
- Hepatitis Diagnostic Test Market – The global hepatitis diagnostic test market size was valued at USD 3.9 billion in 2016 and is expected to grow at a CAGR of 6.5% over the forecast period.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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