Fusion Biopsy Market Size, Share & Trends Analysis Report 2021-2028
Fusion Biopsy Industry Overview
The global fusion biopsy market size was valued at USD 489.1 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.6% from 2021 to 2028. Increasing prevalence of prostate cancer, growing awareness about the importance of regular clinical interventions, and developing reimbursement policies are factors likely to boost the demand for targeted MR/ultrasound biopsy systems over the forecast period. The global number of fusion biopsy procedures declined by around 50.0% during the first semester of the COVID-19 pandemic. Among the procedures that happened during this time, prostate MRI was preferred in most hospitals. The number of procedures, and thus, the demand for new devices resumed after July 2020 as the number of the cases stabilized at a global level. The low-risk patients were managed by an active surveillance strategy which helped minimize the hospital visits associated with COVID-19 risks. Availability of COVID-19 vaccines and resuming procedures with strict guidelines are expected to restore market growth by the end of 2021.
Gather more insights about the market drivers, restrains and growth of the Global Fusion Biopsy market
The primary diagnostic test of prostate cancer includes prostate-specific antigen and digital rectal examination. If this preliminary test shows abnormal results, then further ultrasound imaging is recommended. However, the ultrasound scans have a high possibility to miss significant tumors, especially which are smaller in size and may cause clinical complications in the future. Therefore, urologists refrain to take risks and try to make a diagnosis as promptly and accurately as possible. This has led to the growing demand for prostate biopsy procedures contemplating its safety, reliability, and sensitivity in prostate cancer diagnosis. The government and private bodies are committed to improving the health outcomes for men with prostate cancer by making significant investments into R&D for early and accurate diagnostic tools. For instance, since 2013, the government of Australia has spent over USD 84 million in prostate cancer treatment and diagnostic research through Cancer Australia, Prostate Cancer Research Foundation Australia, and National Health Medical Research Council Australia. Similarly, in October 2018, the U.K. government announced a budget of USD 19 million dedicated for the procurement of advanced diagnostic scanners, as well as training radiologists to deliver medical services for prostate cancer.
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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 - 2028)
- Transrectal
- Transperineal
Fusion Biopsy End-use Outlook (Revenue, USD Million, 2016 - 2028)
- Hospitals
- Diagnostic Centers
- Ambulatory Care Center
Fusion Biopsy Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies profiled:
Some prominent players in the global Fusion Biopsy market include
- MedCom
- ESAOTE SPA
- KOELIS
- Focal Healthcare
- GeoScan Medical
- UC-Care Medical Systems Ltd.
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