New York, Feb. 13, 2023 (GLOBE NEWSWIRE) -- The Fusion Biopsy Market revenues were estimated at US$ 598.6 Million in 2023 and is anticipated to grow at a CAGR of 15.4% from 2023-2033, according to a recently published Persistence Market Research report. By the end of 2033, the market is expected to reach US$ 686.4 Million.
Prostate-specific antigen and digital rectal examination are the two most used prostate cancer diagnostic tests. If the findings of this preliminary test are abnormal, ultrasonic imaging is advised to be performed. However, ultrasonic examinations have a high risk of missing important tumors, particularly those that are smaller and may cause future clinical issues.
As a result, urologists avoid taking chances and strive to provide the most precise and timely diagnosis possible. Owing to this, there has been an increase in the demand for prostate biopsy procedures due to concerns about their safety, reliability, and sensitivity in the identification of prostate cancer.
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The government and commercial organizations are dedicated to improving the health outcomes for men with prostate cancer by investing heavily in research and development of early and accurate diagnostic methods. For example, through Cancer Australia, Prostate Cancer Research Foundation Australia, and National Health Medical Research Council Australia, the Australian government has invested over US$ 84 Million in prostate cancer treatment and diagnostic research since 2013.
Similarly, the government in the United Kingdom announced a US$ 19 Million budget in October 2018 for the purchase of modern diagnostic scanners as well as the training of radiologists to provide medical services for prostate cancer.
Throughout the projected period, North America is expected to lead the market. According to the American Cancer Society, cancer was diagnosed in roughly 1,762,450 new cases in 2019, and 606,860 people died from it. As a result, it is critical to catch cancer early and treat it. As a result, the market for fusion biopsy in North America is predicted to grow at a rapid pace.
Competitive Landscape
Technological advancements and expansion have been prominent strategies in the fusion biopsy market in recent years. Key players operating in the market include-
- MedCom
- ESAOTE SPA
- KOELIS
- Focal Healthcare
- GeoScan Medical
- UC-Care Medical Systems Ltd.
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A few of the recent developments of key fusion biopsy providers are as follows:
- In May 2020, EDAP TMS SA agreed to a transportation agreement with Exact Imaging. Exact Imaging entrusted EDAP with the marketing of its small ultrasound devices as well as its focused energy-based ultrasound frameworks.
More Insights Available
Persistence Market Research, in its new offering, presents an unbiased analysis of the Fusion Biopsy Market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights
- by Biopsy Route (Transperineal, Transrectal),
- by End Use (Hospitals, Diagnostic Centers, Ambulatory Care Centers)
- by across five regions (North America, Latin America, Europe, Asia Pacific and the Middle East & Africa).
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Key Questions Answered in This Report –
- What is the size of the global Fusion Biopsy market?
- How fast did the market for Fusion Biopsys grow during the last few years?
- What is the Forecasted value for the Fusion Biopsys market for 2033?
- What is the demand outlook for Fusion Biopsys?
- What is the European Fusion Biopsy market stance?
- What are the statistics for the market in Spain & Sweden?
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