PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1618947
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1618947
The global fusion biopsy market is valued at an estimated 0.65 billion in 2024 and is projected to reach USD 0.91 billion by 2029, at a CAGR of 7.1% during the forecast period. The old population is causing a rise in age-related health conditions, such as prostate cancer, which predominantly affects older men. As these elderly individuals grows globally, the incidence of prostate cancer is also expected to increase leading to increased demand for advanced diagnostic technologies such as fusion biopsy. The increase in demand is especially seen in areas with older populations, like Europe and North America. These regions have healthcare systems that are better able to use advanced technologies like fusion biopsy.
Scope of the Report | |
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Years Considered for the Study | 2023-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Million/Billion) |
Segments | By Route Type, Product, Application, End User, And Region |
Regions covered | North America, Europe, Asia Pacific, Latin America, the Middle East & Africa, and GCC Countries |
"The equipment segment is projected to witness the highest growth rate in the fusion biopsy market, by product, during the forecast period."
Based on product, the fusion biopsy market is segmented into equipment and consumables. The growth of equipment segment is owing to their ability to combine high-resolution imaging with real-time ultrasound for precise targeting of suspicious lesions. The demand for these equipment is fueled by the increasing prevalence of prostate cancer, the adoption of minimally invasive procedures, and ongoing technological advancements, such as AI integration for better lesion detection, further accelerates the growth of this segment.
"In 2023, the prostate cancer segment accounted for the largest share of the fusion biopsy market, by application."
Prostate cancer and other applications make up the application-based segments of the fusion biopsy market. Market share for fusion biopsy was highest in the prostate cancer in 2023. The high incidence of prostate cancer worldwide and the efficiency of fusion biopsy in identifying these clinically relevant malignancies are the primary causes of this high percentage. Improvements in imaging technology and growing awareness of early detection further support this the lead, guaranteeing its sustained market leadership in fusion biopsy.
"The Asia Pacific region is projected to witness highest growth rate in the fusion biopsy market during the forecast period"
The global fusion biopsy market is segmented into six regions - North America, Europe, Asia Pacific, the Middle East & Africa, Latin America, and the GCC Countries. Over the span of the forecast period, the fusion biopsy market is expected to grow at the fastest rate in the Asia Pacific region. The rising healthcare investments, a growing prevalence of cancers like prostate cancer, and a large aging population vulnerable to cancer contribute to the significant market growth in the Aisa Pacific region during the projected period.
Koninklijke Philips N.V. (Netherlands), GE Healthcare (US), KOELIS (France), FUJIFILM Holdings Corporation (Japan), Eigen Health (US), Focal Healthcare (Canada), Esaote SPA (Italy), MTT GmbH (Germany), MedCom (Germany), UC-CARE Medical Systems (US), Biobot Surgical (Singapore), Canon Inc. (Japan), and Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
In this report, the fusion biopsy market has been categorized based on product (equipment and consumables), end user (hospitals and other end users), route type (transsrectal, transperineal, and other route types), application (prostate cancer and other applications), and region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America, and the GCC Countries).
Comprehensive information regarding the main drivers, barriers, opportunities, and challenges influencing the fusion biopsy market's expansion is included in detail in this study. An exhaustive study of the key players in the fusion biopsy market has been done to provide insights into their business profile, products offered, noteworthy strategies, collaborations, and other recent activities pertaining to the market.
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall fusion biopsy market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, challenges, opportunities, and restaints.