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Fusion Biopsy Market

Market Study on Fusion Biopsy: Surge in prostate cancer incidences to propel the market revenue for fusion biopsy

Global Fusion Biopsy Market by Biopsy Route (Transperineal, Transrectal) - Transrectal Segment Held 86.7% of the Total Revenue in the Previous Years

Market Snapshot

Newly-released fusion biopsy industry analysis report by Persistence Market Research reveals that the revenue of fusion biopsy market in 2022 was held at US$ 598.6 Mn. With a CAGR of 15.4% from 2023 to 2033, the market is projected to reach a valuation of US$ 2.9 Billion by 2033.

Over the years, the market has grown due to an increase in the number of occurrences of prostate cancer and an increasing demand for fusion biopsy diagnosis. The market is expected to account for an absolute dollar opportunity of US$ 2.2 Billion from 2023 to 2033.

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Details

Global Fusion Biopsy Market (2023)

US$ 686.4 Million

Global Fusion Biopsy Market (2033)

US$ 2.9 Million

Global Fusion Biopsy Market CAGR (2023 to 2033)

15.4%

U.S. Fusion Biopsy Market CAGR (2023 to 2033)

16.2%

Key Companies Profiled

  • Eigen
  • Koninklijke Philips N.V.
  • Hitachi Ltd.
  • MedCom
  • ESAOTE SPA
  • KOELIS
  • Focal Healthcare
  • GeoScan Medical
  • UC-Care Medical Systems Ltd.
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Revenue of Fusion biopsy from 2018 to 2022 Compared to Demand Outlook for 2023 to 2033

As per the fusion biopsy industry research by Persistence Market Research - a market research and competitive intelligence provider, historically, from 2018 to 2022, the market value of the fusion biopsy industry increased at around 15% CAGR, wherein, countries such as the U.S., China and U.K held significant share in the global market. The market is projected to grow at a CAGR of 15.4% over the coming 10 years.

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How surge in demand for prostate biopsy has augmented the Sales of Fusion Biopsy?

Prostate-specific antigen and digital rectal examination are the two most used prostate cancer diagnostic tests. If the findings of this preliminary test are abnormal, ultrasonic imaging is advised to be performed. However, ultrasonic examinations have a high risk of missing important tumors, particularly those that are smaller and may cause future clinical issues.

As a result, urologists avoid taking chances and strive to provide the most precise and timely diagnosis possible. Owing to this, there has been an increase in the demand for prostate biopsy procedures due to concerns about their safety, reliability, and sensitivity in the identification of prostate cancer.

The government and commercial organizations are dedicated to improving the health outcomes for men with prostate cancer by investing heavily in research and development of early and accurate diagnostic methods. For example, through Cancer Australia, Prostate Cancer Research Foundation Australia, and National Health Medical Research Council Australia, the Australian government has invested over US$ 84 Million in prostate cancer treatment and diagnostic research since 2013.

Similarly, the government in the United Kingdom announced a US$ 19 Million budget in October 2018 for the purchase of modern diagnostic scanners as well as the training of radiologists to provide medical services for prostate cancer.

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Which factors are Driving the Demand for Fusion Biopsy?

An increase in PSA, a protein found in the blood, is a symptom of prostate cancer. A man's PSA level may be raised for a variety of reasons other than cancer.

To try to discover a tumor, doctors currently employ a random sample procedure that involves needle sampling of 12 to 24 areas of the prostate. Since this procedure is random, it is possible that it will miss a significant malignancy, necessitating many biopsies over a period of years before the cancer is discovered. In the United States, 700,000 men with high PSA levels receive repeated biopsies to discover cancer tumors each year.

Fusion Biopsy can help people to reduce the number of biopsy tests. Other prostate biopsies may miss concealed tumors, but the fusion biopsy procedure allows specialists to locate them. Targeted biopsies can be performed utilizing MRI/ultrasound images that have been combined to focus on the problematic areas directly. This method has been shown to be effective in detecting aggressive tumors in men who have had previous negative biopsies and could be used in individuals who have never had a biopsy.

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Country-wise Analysis

U.S. Fusion Biopsy Market Analysis

The United States accounts for a significant market for fusion biopsy. The market in the country is expected to reach a valuation of US$ 1.2 Billion by 2033. The increasing popularity of image-guided biopsy in precision medicine applications, as well as a surge in the usage of biopsies based on multi-parametric Magnetic Resonance Imaging (MR) imaging, are driving the market. In addition, the introduction of new technologies in biopsies, increased clinical use of biopsies, and improvements in the quality of treatment are projected to accelerate market expansion in the near future.

The increasing elderly population, as well as the rise in cases of cancer, are expected to fuel market expansion. Between 2023 and 2033, the U.S. Fusion Biopsy market is expected to expand by US$ 946.2 Mn in absolute dollars.

U.K. Fusion Biopsy Market Analysis

The market in the U.K. is expected to reach a valuation of US$ 118.3 Million by 2033. Growing with a CAGR of 16% in the forecast period, the market in the country is projected to garner an absolute dollar opportunity of around US$ 91.5 Million.

Japan Fusion Biopsy Market Analysis

In Japan, the market is expected to grow at a CAGR of 14.4% from 2023 to 2033, reaching around US$ 97.4 Million by 2033. The market in the country is expected to gross an absolute dollar opportunity of US$ 72.4 Million during the forecast period.

South Korea Fusion Biopsy Market Analysis

The market in South Korea is expected to reach a valuation of around US$ 51.3 Million by 2033, growing at a CAGR of 13.7% from 2023 to 2033. The market in the country is expected to witness an absolute dollar opportunity of around US$ 37.4 Million.

Category-wise Insights

Why transrectal biopsy segment held a large market share in the fusion biopsy market?

In 2022, the transrectal segment held 86.7% of the total revenue. The transrectal method accounted for a prominent share of commercially available fusion biopsies, resulting in its dominance in the market. On the other hand, patients experiencing fever, sepsis, haematuria, and rectal bleeding following transrectal fusion biopsy result in the fusion biopsy market's sluggish expansion.

What are the market predictions for the growth of Transperineal Fusion Biopsy?

Transperineal fusion biopsy is a new trend and the market through it is projected to grow with a CAGR of 15.2%. In comparison to the usual technique, segment growth is aided by a lower risk of infection and rectal bleeding.

Owing to technological advancements, the transperineal biopsy (TPBx) is becoming more prevalent. Transperineal biopsy, when combined with MRI-Ultrasound fusion, is becoming particularly popular among urologists looking for novel and more efficient procedures. Transperineal biopsies have a number of advantages over transrectal biopsies, including a lower risk of infection, access to anterior targets, and less time in the operating room.

Identical to focused therapies commonly administered through the perineum, under local anesthesia, this technique is possible. During the operation, the patient will experience less discomfort. Also, improved identification of prostate cancer is clinically significant

Furthermore, the transperineal method is effective in examining the ventral prostate areas, which are generally missed during transrectal fusion biopsy. With their fusion biopsy systems, industry companies like Koelis and Biopsee provide both transrectal and transperineal accessories, giving urologists the opportunity to provide tailored patient treatment.

Competitive Analysis

Technological advancements and expansion have been prominent strategies in the fusion biopsy market in recent years. Key players operating in the market include Eigen, Koninklijke Philips N.V., Hitachi Ltd., MedCom, ESAOTE SPA, KOELIS, Focal Healthcare, GeoScan Medical, and UC-Care Medical Systems Ltd.

A few of the recent developments of key fusion biopsy providers are as follows:

  • In May 2020, EDAP TMS SA agreed to a transportation agreement with Exact Imaging. Exact Imaging entrusted EDAP with the marketing of its small ultrasound devices as well as its focused energy-based ultrasound frameworks.

Similarly, recent developments related to companies offering fusion biopsy have been tracked by the team at Persistence Market Research, which is available in the full report.

Market Segments Covered in Fusion biopsy Industry Analysis

By Biopsy Route

  • Transperineal
  • Transrectal

By End Use

  • Hospitals
  • Diagnostic Centers
  • Ambulatory Care Centers

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Spain
  • Asia Pacific
    • Japan
    • China
    • India
    • Thailand
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
  • Middle East & Africa
    • South Africa
    • Saudi Arabia

- Companies Covered in This Report -

  • MedCom
  • ESAOTE SPA
  • KOELIS
  • Focal Healthcare
  • GeoScan Medical
  • UC-Care Medical Systems Ltd.

- Frequently Asked Questions -

The global market is worth more than US$ 598.6 Mn in 2022.

The market value is projected to increase at a CAGR of around 15.4% from 2023 to 2033.

The market value increased at a CAGR of around 15% from 2018 to 2022.

The increasing cases of prostate cancer, coupled with the growing demand for fusion biopsy diagnosis, have been driving market growth over the years.

Top 5 countries driving demand for fusion biopsy are the U.S., UK, China, Japan, and South Korea.

United States accounted for over 42% of global fusion biopsy market demand in 2022.

The UK market for fusion biopsy is projected to expand at a CAGR of around 16.0% during 2023 – 2033.

While the market in South Korea is expected to grow at nearly 13.7%, the market in Japan is projected to register a CAGR of nearly 14.4% during 2023 – 2033.

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