The global fusion biopsy market size is estimated to reach USD 1.1 billion by 2027 registering a CAGR of 10.3%, 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.
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 diagnosis of aggressive tumors is expected to make it as 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 system.
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.
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Fusion Biopsy
Market Report Highlights
- 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 system 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.
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Fusion Biopsy
Market Segmentation
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 - 2027)
- Transrectal
- Transperineal
Fusion Biopsy
End-use Outlook (Revenue, USD Million, 2016 - 2027)
- Hospitals
- Diagnostic Centers
- Ambulatory Care Centers
Fusion Biopsy
Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- The U.S.
- Canada
- Europe
- Germany
- The U.K.
- France
- Italy
- Spain
- Switzerland
- Belgium
- Asia Pacific
- China
- Japan
- India
- Thailand
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
List of Key Players
of Fusion Biopsy Market
- MedCom
- ESAOTE SPA
- KOELIS
- Focal Helathcare
- GeoScan Medical
- UC-Care Medical Systems Ltd.
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company, registered
in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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