Global Fusion Biopsy Market By End Use (Diagnostic centers, Hospitals and Ambulatory care centers), By Route (Transperineal and Transrectal), By Region, Industry Analysis and Forecast, 2020 - 2026
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Market Report Description
The Global Fusion Biopsy Market size is expected to reach $912.5 Million by 2026, rising at a market growth of 11.5% CAGR during the forecast period. Fusion biopsy is considered as the most reliable method of detection of prostate and breast cancer. It is difficult to visualize the entire prostrate even in the biopsy so there are many developments being done in fusion biopsy system such as trans-rectal ultra-guided prostate biopsy. The current biopsy system has less image resolution and chances biopsy needle can penetrate the tumor-free areas and it can be given negative results.
Fusion Biopsy Market Size, By End User, 2020-2026
The second most common type of cancer in men is Prostate cancer. Each year more than 160,000 Americans are diagnosed with prostate cancer. For diagnosis and detection of prostate cancer, the primary diagnostic test includes Digital Rectal Examination (DRE) and Prostate Specific Antigen (PSA) as they are more affordable and accessible. Though the PSA test is largely used for the detection of benign tumors that results in pointless invasive procedures and it also costs higher healthcare. Consequently, the rising demand for a more specific and sensitive screening method in prostate cancer is likely to boost the market growth for fusion biopsy.
The survival rate in the case of prostate cancer is more as compared to other types of cancer. But, the survival rate for prostate cancer has been less reported at the metastatic stage of cancer. To prevent prostate cancer from reaching up to a metastatic stage is highly needed, and for this purpose, either active surveillance or surgical intervention with other types of medication is required. There are many risks associated with surgical intervention such as erectile dysfunction, bleeding, urinary tract infection, and urinary incontinence. Thus, patients are usually seeking active surveillance and opting for regular biopsy, which in turn, is anticipated to drive the market growth of the MR/Ultrasound biopsy system.
Fusion Biopsy Market Share, By Route, 2019
Based on End Use, the market is segmented into Diagnostic centers, Hospitals and Ambulatory care centers. Based on Route, the market is segmented into Transperineal and Transrectal. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Free Valuable Insights: Global Fusion Biopsy Market to reach a market size of $912.5 million by 2026
|Market size value in 2019||USD 429.9 Million|
|Market size forecast in 2026||USD 912.5 Million|
|Historical period||2016 to 2018|
|Forecast Period||2020 to 2026|
|Revenue Growth Rate||CAGR of 11.5% from 2020 to 2026|
|Number of Pages||133|
|Number of Tables||248|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||End Use, Route, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Australia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Koninklijke Philips N.V., Hitachi, Ltd., Baxter International, Inc. (MedCom), Esaote SpA, Eigen, KOELIS, Inc., Focal Healthcare, Inc. and UC-Care Medical Systems Ltd.
Recent Strategies Fusion Biopsy Market
- Nov-2018: Focal Healthcare received both FDA 510(k) clearance and Health Canada approval for its Fusion Bx 2.0 prostate biopsy solution. The Fusion Bx 2.0 is the second generation of Focal Healthcare’s prostate fusion biopsy device.
- Sep-2016: UC-Care and AXELLA announced the Navigo and SmartBx Systems, new cutting edge vision for prostate MRI fusion biopsy. Navigo fuses previously captured prostate MRI images with live TRUS (transrectal ultrasound) images while the ultrasound transducer is inserted during the biopsy.
- May-2016: Philips' business Invivo partnered with SonaCare Medical to license Invivo's UroNav fusion software with its Sonablate planning system. The partnership enabled clinicians to use the UroNav device to annotate and biopsy targeted prostate tissue and localizes the tissue appropriate for ablation directly with its Sonablate software.
- Mar-2016: Eigen collaborated with Hitachi Medical Systems Europe. Under this collaboration, Hitachi was aimed to distribute the Artemis, Eigen's robotic 3D targeted prostate biopsy device, through their subsidiaries' sales network in Europe. Additionally, both companies expanded the versatility of Eigen's Artemis and Hitachi Aloka's suite of advanced ultrasound units, including their newest and most compact ultrasound unit yet, the Noblus.
- Mar-2016: Hitachi signed an agreement with MedCom GmbH to distribute the latter company's products through Hitachi's subsidiaries sales network in Europe. BiopSee is the MedCom's fusion imaging system for stereotactic, navigated, targeted prostate biopsy & therapy guidance. It is used in conjunction with Hitachi ultrasound systems. Hitachi is the sole distributor of the BiopSee products in this territory for Hitachi's installed base and when bundled with Hitachi's products.
- Feb-2016: Focal Healthcare got 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its targeted prostate biopsy device, Fusion Bx. With the availability of Fusion Bx, clinicians can accurately take targeted biopsies directly from suspicious cancer regions within the prostate using MRI-ultrasound "fusion" technology.
Scope of the Fusion Biopsy Market Analysis
By End Use
- Diagnostic centers
- Ambulatory care centers
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Koninklijke Philips N.V.
- Hitachi, Ltd.
- Baxter International, Inc. (MedCom)
- Esaote SpA
- KOELIS, Inc.
- Focal Healthcare, Inc.
- UC-Care Medical Systems Ltd.
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Fusion Biopsy Market Related Reports:
What would be the value of global fusion biopsy market by 2026?
The fusion biopsy market is projected to reach USD 912.5 million by 2026.
What are the factors that anticipated to drive fusion biopsy market trends?
There are several reason that cause high demand of this market one of them is technological advancements in fusion imaging modalities.
Who are the leading players in fusion biopsy market?
Koninklijke Philips N.V., Hitachi, Ltd., Baxter International, Inc. (MedCom), Esaote SpA, Eigen, KOELIS, Inc., Focal Healthcare, Inc. and UC-Care Medical Systems Ltd.
Which region shows high revenue share in the fusion biopsy market in 2019?
The North America holds the largest revenue share in the fusion biopsy market in the year 2019 and is likely to show its dominance over the foreseeable period of time.
At what CAGR is the fusion biopsy market estimate to grow in the forecast period?
The expected CAGR of fusion biopsy market is 11.5% from 2020 to 2026.