Fusion Biopsy Market

The global Fusion Biopsy Market is valued at USD 425.9 Million in 2022 and is projected to reach a value of USD 929.8 Million by 2030 at a CAGR (Compound Annual Growth Rate) of 11.8% between 2023 and 2030.

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Fusion Biopsy, a combination of MRI and ultrasound image guidance, offers improved detection and targeting of prostate cancer. Studies have shown a significant increase in the detection of clinically significant tumors using this approach. For example, a study published by the National Cancer Institute (NCI) showed that targeted MR/US Fusion Biopsy diagnosed 30 percent more high-risk cancers than standard biopsy and 17 percent fewer low-risk cancers. With improved accuracy and precision, Fusion Biopsy presents substantial opportunities to enhance early detection and better manage prostate cancer.

• The Transrectal segment controlled the market for Fusion Biopsy. It accounted for the largest revenue share 2022 because it was considered the gold standard in performing prostate biopsies worldwide in the past decades. Most commercially available Fusion Biopsy was limited to the transrectal approach, contributing to its most significant market share.
• Transperineal Fusion Biopsy is a new-wave trend expected to experience the fastest CAGR during the forecast period. A lower risk of infection and hematochezia than the traditional approach will likely contribute to the segment growth.
• The Hospital's segment dominated the industry for Fusion Biopsy and held the most significant revenue in 2022 because of its robust purchasing ability. The average price of a unit of Fusion Biopsy system is costly, making it unaffordable for private diagnostic centers.
• The Ambulatory Care Centers will grow at the fastest CAGR during the forecast period.
• The North America dominated the Fusion Biopsy industry and accounted for the largest market share in revenue at 48.50% in 2022. It is expected to continue its dominance over the forecast period.
• In Asia Pacific, the Fusion Biopsy industry is projected to witness the quickest expansion rate during the forecast period of 2023-2030. Asia Pacific exhibits a promising growth opportunity, with emerging economies at the forefront of development.

Top Market Trends

1. Prostate cancer is one of the most common types of cancer globally, and its incidence is rising. According to the American Cancer Society, there were an estimated 1.4 million new cases of prostate cancer worldwide in 2020. This growing prevalence drives the demand for Fusion Biopsy procedures as an effective method for diagnosing and staging prostate cancer.
2. Several companies in the Fusion Biopsy industry are investing heavily in research and development activities to improve the accuracy and effectiveness of the procedure. For instance, in 2020, Exact Sciences Corp. acquired the advanced biopsy technology provider Paradigm Diagnostics, to enhance its capabilities in the Fusion Biopsy market. Such investments are driving innovation and technological advancements in the industry.
3. The Fusion Biopsy market is witnessing growing consolidation, with several mergers, acquisitions, and partnerships. Companies are collaborating to expand their product portfolios, enhance their technological capabilities, and strengthen their market presence. For instance, in 2022, Invivo Corporation announced a strategic partnership to develop and commercialize Fusion Biopsy solutions. Market consolidation is expected to drive innovation and boost market growth.
4. In many countries, healthcare reimbursement policies have been established to support using Fusion Biopsy procedures. For instance, in 2020, the United States Centers for Medicare & Medicaid Services (CMS) introduced a new reimbursement code specific to Fusion Biopsy procedures, signifying its growing recognition and importance in the healthcare system.
5. The Fusion Biopsy industry is witnessing continuous advancements in imaging technologies, leading to improved accuracy and efficiency of biopsies. For example, the development of multiparametric MRI (mpMRI) has significantly enhanced the ability to detect suspicious lesions in the prostate. Furthermore, artificial intelligence (AI) is being integrated into Fusion Biopsy systems to assist radiologists in interpreting MRI images and guiding biopsy needles.

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Economic Insights

The government and commercial organizations are committed to enhancing the health outcomes of men with prostate cancer by investing in research and developing precise and timely diagnostic methods. Notably, the Australian government has allocated more than USD 84 Million towards prostate cancer treatment and diagnostic research since 2013 through initiatives such as Cancer Australia, Prostate Cancer Research Foundation Australia, and National Health Medical Research Council Australia. Similarly, the United Kingdom government announced a budget of USD 19 Million in October 2018 to acquire advanced diagnostic scanners and train radiologists to provide better medical services for prostate cancer patients.

Market Segmentation

The Global Fusion Biopsy Market can be broadly classified into the below-mentioned segments:

The global Fusion Biopsy market can be categorized into Biopsy Route, End-Use, Region. The Fusion Biopsy market can be categorized into Transrectal, Transperineal based on Biopsy Route. The Fusion Biopsy market can be categorized into Hospitals, Diagnostic Centers, Ambulatory Care Centers based on End-Use. The Fusion Biopsy market can be categorized into North America, Europe, Asia Pacific, Latin America, Middle East & Africa based on Region.

Based on the Biopsy Route

Transrectal to Lead Maximum Market Share Due to the Use of High-Strength Adhesives Used for the Bonding of Planks

The Fusion Biopsy market is segmented into the transrectal biopsy route and the transperineal biopsy route. In 2022, the transrectal biopsy route accounted for a sizable market share because it was considered the gold standard in performing prostate biopsy worldwide in the past decades. Most commercially available Fusion Biopsy was limited to the transrectal approach, contributing to its most significant market share. However, the transperineal biopsy route will increase significantly between 2023 and 2030.

Based on End-use

The Hospitals segment Expects Dominion Owing to The Availability of Highly Skilled Professionals and Better Facilities

The Fusion Biopsy market is segmented based on the End-Users into hospitals, diagnostics, and ambulatory care centers. The hospitals segment is responsible for the largest market share in 2022, while the mobile care centers segment is expected to grow fastest during the forecast period. The growing prevalence of prostate cancer in rural areas with restricted access to healthcare services is expected to drive the segment's growth.

Based on Region

North America to Dominate Global Sales Owing to The Growing Prevalence of Prostate Cancer and the Presence of Well-established Healthcare Facilities

North America dominated the industry in 2022 with a market share of 46.2% on account of the rising cases of prostate cancer. The region is expected to dominate the market due to better healthcare infrastructure and facilities. Further, the increasing research and development expenditure for prostate cancer has led to the growth of the region’s Fusion Biopsy market.

The Asia Pacific region is expected to witness the fastest growth in the Fusion Biopsy market. The major factors boosting the market's growth include increasing awareness of prostate cancer, a growing population base, rising disposable income levels, and high unmet needs of patients in emerging countries such as India, Japan, and China. Thus, the rising demand for diagnosis within the region is expected to propel market growth.

Competitive Landscape

The Fusion Biopsy market is highly competitive, with several significant players vying for market share. For example, Philips Healthcare offers the UroNav system, which has a 97% detection rate for clinically significant prostate cancers. Similarly, GE Healthcare provides the LOGIQ E9 system, which offers real-time image fusion to target lesions accurately. These players constantly innovate and invest in research and development to stay ahead in the competitive market.

The key players in the global Fusion Biopsy market include - Eigen Technologies (U.S.), Koninklijke Philips N.V. (Netherlands), Hitachi Ltd. (Japan), MedCom (U.S.), ESAOTE SPA (Italy), KOELIS (France), Focal Healthcare (Canada), UC-Care Medical Systems Ltd. (U.S.), GeoScan Medical (U.S.) among others.

Recent Market Developments

• In May 2022, Koelis, SAS, a leader and innovator in prostate care, announced the release of new Trinity 3D ultrasound and MRI fusion platform features. The Koelis Trinity® system integrates 3D ultrasound imaging with proprietary MRI-US fusion image guidance that features the Company’s unique prostate motion tracking software (OBT Fusion®).

Segmentation of the Global Fusion Biopsy Market