Fusion Biopsy Market - What Factors Will Drive The Market In Upcoming Years

Posted by Nicky Arora on December 8th, 2020

The global fusion biopsy market size is estimated to reach USD 1.1 billion by 2027 registering a CAGR of 10.3%, according to a new report by Grand View Research, Inc. The increasing prevalence of prostate cancer, growing demand for targeted biopsy, and the rising utilization rate of multiparametric MRI in prostate cancer care are factors expected to drive the market during the forecast period.

High sensitivity and specificity of targeted MR/Ultrasound fusion biopsy in delineating prostate lesions compared to other traditional technologies such as TRUS biopsy, PSA test, or Digital Rectal Examination is expected to contribute to the market growth. The reliability and reproducibility of the fusion biopsy system in diagnosis of aggressive tumors is expected to make it as a standard tool in prostate biopsy.

An increasing number of radiologists gaining expertise in interpreting prostate MRI coupled with the implementation of standard image grading systems such as PI-RADS and Gleason score has increased the utilization rate of targeted MR/Ultrasound fusion biopsy system.

The increasing number of government initiatives in terms of funding research, spreading awareness, and conducting mass screening programs related to prostate cancer are expected to play a crucial in the growth of the market. Some of the growth strategies adopted by market players include partnership, product launch, participation in trade events and conferences, and acquisitions to sustain in this highly competitive market.

Request a free sample copy @ https://www.grandviewresearch.com/industry-analysis/fusion-biopsy-market/request/rs1

Fusion Biopsy Market Report Highlights

• The transrectal segment held the largest market share in 2019, as it is the gold standard and commonly used method of prostate fusion biopsy
• The transperineal segment is expected to grow at the fastest rate during the forecast period owing to the safety, diagnostic efficiency, and ability to access the ventral prostate areas
• The hospital segment accounted for the largest revenue share in 2019 because of the factors such as increasing the procurement rate of MR/US targeted fusion biopsy system in teaching hospitals
• The diagnostics centers segment is expected to grow at a significant rate over the forecast period. Shorter wait times, cost efficiency, and developing reimbursement paradigm are the factors expected to drive the growth of this segment
• North America held the largest market share in the market in 2019 and is anticipated to maintain its dominance over the forecast period
• Asia Pacific is anticipated to witness a CAGR of 10.5% during the forecast period owing to factors such as growing awareness about the sensitivity and specificity of MRI/US targeted fusion biopsy systems among urologists especially in countries such as Japan, Australia, and China.