Global fusion biopsy market was valued at USD 489.1million in 2020. It is expected to grow at a compound annual rate (CAGR of 11.6%) between 2021 and 2028. The forecast period will see a rise in prostate cancer incidence, increased awareness of the importance of regular clinical interventions, as well as the development of reimbursement policies.
During the COVID-19 pandemic, the global number of fusion biopsy procedures dropped by approximately 50.0%. Prostate MRI was the most popular procedure during this period. As the global number of cases stabilised, so did the number of procedures. Active surveillance was used to manage low-risk patients, which reduced hospital visits due to COVID-19 risk. Market growth will be restored by 2021 if there are COVID-19 vaccines available and resuming procedures following strict guidelines.
Digital rectal examination and prostate-specific antibody are the primary tests for prostate cancer. A second ultrasound imaging scan is recommended if the preliminary test results are not normal. The ultrasound scans can miss small tumors that could cause future complications. Urologists avoid taking risks and make sure to diagnose the patient as quickly and accurately as possible. Because of its reliability and sensitivity, prostate biopsy has become a popular procedure.
Both the government and private sector are committed to improving health outcomes for prostate cancer patients. They have made significant investments in R&D to develop early and accurate diagnostic tools. The Australian government has invested more than USD 84 million since 2013 in prostate cancer treatment and diagnostics through Cancer Australia, Prostate Cancer Research Foundation Australia and National Health Medical Research Council Australia. In the same vein, the U.K. government announced in October 2018 that it had allocated a budget of US$ 19 million to purchase advanced diagnostic scanners and train radiologists to provide medical services for prostate carcinoma.
Because it is the most widely used method for performing prostate biopsy in the world, the transrectal segment was the dominant market for fusion surgery. It accounted for the highest revenue share at 86.7% in 2020. The transrectal method was the most popular and had the largest market share. Patients who experienced fever, sepsis and hematuria after transrectal Fusion biopsy led to a slow growth of the market for fusion biopsies.
The fastest growing trend in transperineal fusion biopsy will be 15.2%. Segment growth is expected to be aided by a lower risk of infection and rectal bleeding than the traditional approach. The transperineal approach can also be used to assess ventral prostate areas, which are often missed by transrectal fusion. Market players like Biopsee and Koelis offer both transrectal as well as transperineal accessories to their fusion biopsy systems, giving urologists more flexibility in providing customized patient care.
Due to their strong purchasing power, the hospitals segment dominated fusion biopsy market and held the largest revenue share at 61.0% in 2020. Private diagnostic centers cannot afford fusion biopsy systems because of their high prices. These systems are being adopted in ambulatory care centers in response to the increasing demand for care in rural areas. On-demand fusion biopsies can be performed because of the availability of qualified staff and resources at hospitals such as MRI scanners and radiologists, anesthesiologists and radiologists. Private sector players are increasing their involvement in hospitals, which makes patient comfort the primary outcome. Transperineal fusion biopsy systems are increasingly being used in hospitals to increase their acceptance and market share.
Over the forecast period, the diagnostics center segment will grow at a substantial rate in the market to fusion biopsy. This segment is expected to grow due to shorter wait times, improved cost efficiency, and a new reimbursement paradigm. Targeted MR/Ultrasound biopsy systems are still a new technology and the high price is a barrier to its adoption in diagnostic centers. Two diagnostic centers have partnered to purchase an MR/Ultrasound fusion biopsy system due to its high ROI and growing demand.
The fastest growth rate for ambulatory care centers is 12.6% over the forecast period. This segment is expected to grow due to the rising incidence of prostate cancer in rural areas with limited access to healthcare services. The introduction of ultra-portable and affordable MRIs is expected to increase the number of targeted MR/Ultrasound biopsies in ambulatory care centers. This will help to drive overall market growth.
North America was the dominant market for fusion surgery in 2020, accounting for 46.2% of the total revenue. It is expected to maintain its dominance during the forecast period. Asia Pacific is expected to experience the fastest growth in fusion biopsy. Market growth will be driven by key players, an increase in prostate cancer incidence, and the development of healthcare infrastructure.
In 2020, Europe accounted for the second largest market share in fusion biopsy. Major market players in this area have huge opportunities because of the favorable regulatory processes and developed economies. The market is forecast to experience lucrative growth over the forecast period. The U.K. is one of the key markets. France, Spain, Germany, France and Italy are also important.
The Asia Pacific market for fusion biopsy will see a 12.0% CAGR over the forecast period. Asia Pacific is a region with a huge growth potential, especially in the developing economies. Rising awareness of prostate cancer and increasing population are the main factors driving this market's growth. Also, rising disposable income levels and high unmet medical needs in emerging countries like India, Japan, China, and China are key factors. Due to growing obesity and aging populations, various cancers are becoming more common in the region. Market growth is expected to be driven by the increasing demand for diagnostic services in the region.
Although the market for fusion biopsy has a fairly fragmented market, the largest players hold the majority of its share. New players are entering the market because of increasing demand for high-quality diagnostic tools for prostate cancer management. To strengthen their market presence, market players adopt a variety of strategies, including mergers and acquisitions, product launches and collaborations. Exact imaging was the first to sign a distribution agreement in May 2020 by EDAP TMS SA (a world leader in robotic energy-based therapies). Exact Imaging's high-intensity focused ultrasonic systems and micro-ultrasound devices were expected to be sold by EDAP. The market leader in fusion biopsy is:
MedCom
ESAOTE SPA
KOELIS
Focal Healthcare
GeoScan Medical
UC-Care Medical Systems Ltd.
Up Market Research published a new report titled “Fusion Biopsy Market research report which is segmented by Biopsy Route (Transperineal, Transrectal), by End-use (Ambulatory Care Centers, Diagnostic Centers, Hospitals), By Players/Companies Focal Healthcare, UC-Care Medical Systems Ltd, GeoScan Medical, KOELIS, MedCom, ESAOTE SPA”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Fusion Biopsy Market Research Report |
By Biopsy Route | Transperineal, Transrectal |
By End-use | Ambulatory Care Centers, Diagnostic Centers, Hospitals |
By Companies | Focal Healthcare, UC-Care Medical Systems Ltd, GeoScan Medical, KOELIS, MedCom, ESAOTE SPA |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 210 |
Number of Tables & Figures | 147 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Biopsy Route (Transperineal, Transrectal), by End-use (Ambulatory Care Centers, Diagnostic Centers, Hospitals).
Fusion Biopsy Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Fusion Biopsy Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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