Fusion Biopsy Market Size & Share to Surpass $929.8 Million by 2030 | Vantage Market Research

WASHINGTON, Sept. 20, 2023 (GLOBE NEWSWIRE) — As per Vantage Market Research, the Global Fusion Biopsy Market has been rapidly growing due to the advancements in medical imaging technology, the increasing prevalence of prostate cancer, and the growing demand for minimally invasive diagnostic procedures.

According to Vantage Market Research, the global Fusion Biopsy Market is estimated to be valued at USD 929.8 Million by 2030 and is expected to exhibit a CAGR of 11.8% from 2023 to 2030. The global Fusion Biopsy market grew to USD 425.9 Million in 2022.

Fusion biopsy, also known as image-guided or targeted biopsy, combines magnetic resonance imaging (MRI) with accurate-time ultrasound imaging to improve the accuracy of prostate cancer detection. This innovative technique allows urologists to precisely target peculiar areas within the prostate gland, leading to more accurate diagnoses and better patient outcomes.

Get Access to Free Sample Research Report with Latest Industry Insights @ https://www.vantagemarketresearch.com/fusion-biopsy-market-2280/request-sample

Key Highlights

• The Transrectal segment controlled the market for Fusion Biopsy. It accounted for the largest revenue share 2022 because it was considered the gold standard in performing prostate biopsies worldwide in the past decades. Most commercially available fusion biopsy was limited to the transrectal approach, contributing to its most significant market share.
• Transperineal Fusion Biopsy is a new-wave trend expected to experience the fastest CAGR during the forecast period. A lower risk of infection and hematochezia than the traditional approach will likely contribute to the segment growth.
• The Hospital’s segment dominated the industry for fusion biopsy and held the most significant revenue in 2022 because of its robust purchasing ability. The average price of a unit of fusion biopsy system is costly, making it unaffordable for private diagnostic centers.
• The Ambulatory Care Centers will grow at the fastest CAGR during the forecast period.
• North America dominated the fusion biopsy industry and accounted for the largest market share in revenue at 48.50% in 2022. It is expected to continue its dominance over the forecast period.
• In Asia Pacific, the fusion biopsy industry is projected to witness the quickest expansion rate during the forecast period of 2023-2030. Asia Pacific exhibits a promising growth opportunity, with emerging economies at the forefront of development.

The fusion biopsy market is experiencing significant growth due to the rising incidence of prostate cancer and the increasing adoption of minimally invasive procedures. Fusion biopsy combines magnetic resonance imaging (MRI) with ultrasound-guided biopsy to improve the accuracy of prostate cancer diagnosis. Key players in the market include medical device companies, imaging manufacturers, and healthcare providers.

Top Companies in The Global Fusion Biopsy Market

• 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.)

To Know an Additional List of Key Players, Request Here to Download a Free Report PDF Brochure: https://www.vantagemarketresearch.com/fusion-biopsy-market-2280/request-sample
OR
Enjoy a Fabulous 50% Discount with code “SEP50”! Don’t miss out on these incredible savings @ https://www.vantagemarketresearch.com/buy-now/fusion-biopsy-market-2280/0

Factors affecting the growth of the Fusion Biopsy Industry

Many factors affect the growth of the Global Fusion Biopsy industry. Some of these factors include:

• Increasing prevalence of prostate cancer: The rising incidence of prostate cancer globally has been a significant driver for the growth of the Fusion Biopsy market. According to the World Cancer Research Fund data, there were approximately 1.4 million new cases of prostate cancer in 2020.
• Growing demand for minimally invasive procedures: Fusion Biopsy offers a minimally invasive alternative to traditional biopsy methods involving more invasive procedures. This has resulted in a growing demand for Fusion Biopsy procedures.
• Advancements in imaging technologies: Fusion Biopsy combines MRI (Magnetic Resonance Imaging) scans with real-time ultrasound imaging, enabling more accurate and targeted biopsies. The development of advanced imaging technologies has dramatically improved the accuracy and efficacy of Fusion Biopsy procedures, driving the industry’s growth.
• Growing awareness and screening campaigns: There has been an increasing emphasis on the early detection and screening of prostate cancer, leading to higher demand for biopsy procedures.

Top Trends in the Global Fusion Biopsy Market

The fusion biopsy market is experiencing significant trends predicted to impact the industry. These trends include a higher occurrence of prostate cancer, improvements in imaging technologies, the rising popularity of fusion biopsy procedures, and increased healthcare spending. Some key trends include the integration of artificial intelligence and machine learning in fusion biopsy systems, the creation of targeted biopsy technologies, and a growing demand for minimally invasive procedures. Furthermore, the market observes strategic collaborations and partnerships between major players to expand their product range and global presence.

Buy this Premium Research Report with Discount | Immediate Delivery @ https://www.vantagemarketresearch.com/buy-now/fusion-biopsy-market-2280/0

Recent Development of the Global Fusion Biopsy Market

• In May 2022, Koelis, SAS, a leader and innovator in prostate care, announced the release of new Trinity 3D ultrasound and MRI fusion platform features. The Koelis Trinity® system integrates 3D ultrasound imaging with proprietary MRI-US fusion image guidance that features the Company’s unique prostate motion tracking software (OBT Fusion®).

Market Drivers

The initial diagnostic tests for prostate cancer typically involve prostate-specific antigen (PSA) testing and digital rectal examination (DRE). If these tests indicate abnormal results, additional ultrasound imaging is recommended. Notwithstanding, ultrasound checks have a high chance of missing critical growth, particularly those that are more modest and may cause clinical confusion later on. Urologists strive to confront challenges head-on and seek swift and accurate diagnoses. This has prompted interest in prostate biopsy systems, considering their security, dependability, and affectability in prostate malignancy findings. In contrast with the conventional methodology, lower hazard of disease and rectal draining is relied upon to contribute towards fragment development. Also, the transperineal approach effectively evaluates the ventral prostate regions commonly excluded with transrectal fusion biopsy.

Market Restraints
A significant restraint in the fusion biopsy market is the exorbitant expense associated with the procedure. Compared to traditional biopsy methods, fusion biopsy is notably more costly, with an average price range of USD 5,000 to USD 8,000, while conventional biopsy typically costs around USD 1,000 to USD 2,000. This increased cost hinders the widespread implementation of fusion biopsies, particularly in developing nations with limited healthcare budgets. Additionally, the scarcity of proficient professionals trained in conducting fusion biopsies further inhibits market expansion.

Market Opportunities
The fusion biopsy market is expected to grow significantly due to the rising prevalence of prostate cancer and advancements in imaging technologies. For example, according to the American Cancer Society, around 1 in 9 men will be diagnosed with prostate cancer during their lifetime. Fusion biopsy techniques, such as MRI-ultrasound fusion, offer higher accuracy in diagnosing prostate cancer, leading to increased adoption.

Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on Fusion Biopsy Market Forecast Report (2023-2030).

Report Segmentation of the Global Fusion Biopsy Market

Biopsy Route Analysis
Transrectal dominated the market with the largest share because it was considered the gold standard in performing prostate biopsies worldwide in the past decades. The global fusion biopsy market is based on a biopsy route segmented into transrectal and Transperineal. Furthermore, this dominance can be attributed to increased accuracy and accessibility compared to other routes like transperineal or transurethral. Additionally, studies have demonstrated the effectiveness of transrectal fusion biopsies in detecting prostate cancer, further solidifying its market dominance.

End-use Analysis
Hospital pharmacies dominated the most significant share due to the availability of expert practitioners and better facilities. The global fusion biopsy market is based on distribution channel analysis segmented into hospitals, diagnostic centers, and ambulatory care centers. Fusion biopsy combines the advantages of magnetic resonance imaging (MRI) and ultrasound technology to provide more accurate and precise guidance for biopsy procedures. This is particularly beneficial in the hospital setting, where comprehensive diagnostic services are available, and multidisciplinary teams can collaborate to provide optimal patient care. Additionally, the hospital segment will continue dominating the fusion biopsy market in the future as healthcare facilities increasingly recognize the importance of early detection and targeted biopsies in improving patient outcomes.

Global Fusion Biopsy Market Segmentation

By Biopsy Route

• Transrectal
• Transperineal

By End-use

• Hospitals
• Diagnostic Centers
• Ambulatory Care Centers

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Read Full Report with TOC @ https://www.vantagemarketresearch.com/industry-report/fusion-biopsy-market-2280

Scope of the Report:    

Regional Analysis

Due to the growing prevalence of prostate cancer and the presence of well-established healthcare facilities, North America held the dominance of the global market share for fusion biopsy, with a market share of 48.50% in 2022. North America witnessed a high adoption rate of fusion biopsy technologies due to their accurate and targeted approach to diagnosing prostate cancer. The region’s well-established regulatory framework and strong support from government agencies for research and development activities further contributed to its market dominance. This steady growth in North America solidified its position as the leading player in the Fusion Biopsy Market in 2022.

The Asia Pacific market is the most lucrative due to several possible areas for future enlargement. The rising prevalence of prostate cancer and increasing awareness and adoption of advanced diagnostic techniques drive the demand for fusion biopsy procedures. A large population base, particularly in countries like China and India, contributes to the market’s potential.

Browse More Reports from Vantage Library:     

Oxygen Conserving Devices Market – Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/oxygen-conserving-devices-market-2271

Refurbished Medical Equipment Market – Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/refurbished-medical-equipment-market-2262

Advanced Wound Care Market – Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/advanced-wound-care-market-1849

Hyaluronic Acid Market – Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/hyaluronic-acid-market-1868

Stair Lifts Market – Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/stair-lifts-market-0931

About Vantage Market Research:             

We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies.

Follow Us on: LinkedIn | Twitter | Facebook | YouTube

Contact us

Eric Kunz

6218 Georgia Avenue NW Ste 1 – 564

Washington DC 20011-5125

United States Tel: +1 202 380 9727

Email: sales@vantagemarketresearch.com

Website:

https://www.vantagemarketresearch.com/

Latest Vantage Market Research Press Releases

Latest Vantage Market Research Blog

Vantage Market Research All Reports

Blog:

• bwsc.kr
• makitirapide.com
• v-mr.biz
• techwire24.com
• globalresearchwire.com
• vmr.biz