Fusion Biopsy Market to Hit USD 0.91 Billion by 2029 with 7.1% CAGR | MarketsandMarkets™

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Fusion biopsy systems use MRI and ultrasound together to create a detailed 3D image of the prostate, helping doctors accurately find and target abnormal tissue while guiding the biopsy needle with precision.

Based on route type, the global fusion biopsy market can be divided into three segments: transrectal, transperineal, and other route types. The transperineal category is expected to have the highest CAGR from 2024 to 2029. The transperineal method has advantages like lower infection risk and better access to areas that are hard to reach. It is accurate, safe, and easy to perform, which is why more doctors are likely to use it in the future.

The fusion biopsy market is divided into two segments based on the product, including equipment and consumables. The equipment segment is projected to register the highest CAGR during the forecast period. Increasing awareness of the benefits of fusion biopsy for precise prostate cancer diagnosis, coupled with growing healthcare investments, is expected to accelerate the adoption of fusion biopsy equipment in the coming years.

Based on applications, the fusion biopsy market is segmented into prostate cancer and other applications. In the upcoming years, prostate cancer is expected to grow at the fastest rate in the fusion biopsy market because to the rising incidence of the condition and the rising need for precise and least invasive diagnostic methods. Fusion biopsy, with its ability to combine MRI and ultrasound imaging for targeted lesion sampling, is becoming the preferred method for detecting clinically significant prostate tumors. Advancements in imaging technology, rising awareness of early diagnosis, and the aging population further contribute to the rapid growth of this segment.

Based on the type of end-user, the fusion biopsy market is divided into hospitals and other end users. Between 2024 and 2029, the healthcare industry is predicted to expand at the fastest rate. Hospitals have the skilled personnel required to run MRI/ultrasound fusion systems and handle large patient volumes, particularly for cancer diagnosis. Additionally, hospitals gain from easier access to financing and reimbursement assistance, which allows them to purchase cutting-edge fusion biopsy equipment. Hospitals are anticipated to be a key factor in propelling market expansion due to large patient population and healthcare infrastructure grows.

The global Fusion biopsy market has been segmented into North America, Europe, the Asia Pacific, Latin America, the Middle East & Africa, and GCC countries. The Asia Pacific region is expected to witness the highest growth rate during the forecast period. Rapid economic growth in emerging Asia Pacific countries, increasing healthcare investments, the presence of a large patient population, improving public health awareness (leading to rising awareness regarding cancer), the flourishing medical tourism market in Asia Pacific countries, and increasing government initiatives for modernizing the healthcare infrastructure driving the market in the region.

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The fusion biopsy market is highly consolidated, with top companies holding significant market shares. The top three players in this market include Koninklijke Philips N.V. (Netherlands), GE HealthCare (US), and KOELIS (France). Players in this market are focusing on adopting organic and inorganic growth strategies such as product launches and collaborations to increase their fusion biopsy portfolio, cater to customer needs, increase their profitability and expand their presence in the global fusion biopsy market.

Koninklijke Philips N.V. (Netherlands):

Philips has dominated the fusion biopsy market in 2023, mostly because of its innovative solutions and state-of-the-art imaging technology, such the well-known UroNav system. UroNav's renowned accuracy and effectiveness in detecting prostate cancer make it one of the best MRI-ultrasound fusion biopsy systems on the market. Additionally, this company is committed to developing its R&D capabilities. For example, combined five different R&D sites into a single R&D hub in Bangalore, India, in 2023, which could house over 5,000 workers. The company is maintaining a dominant position in the fusion biopsy industry because to these advancements and its robust product line.

GE HealthCare (US):

GE HealthCare is the second-largest player in the fusion biopsy market as of 2023. The company earns revenue from a wide variety of products, including medical devices, consumables, services, and digital solutions. GE's advancements in MRI and ultrasound technology improve image quality and integration, making fusion biopsy procedures more effective. Moreover, GE HealthCare's focus on AI and digital solutions aids in advancing image-guided biopsy techniques, making it possible to perform more accurate and efficient diagnostics. GE HealthCare's role in the fusion biopsy market is substantial due to its leadership in imaging technology and healthcare solutions.

KOELIS (France):

KOELIS, which focuses on advanced imaging and targeted technologies for prostate cancer diagnostics, is the third-largest player in the fusion biopsy market in 2023. It is a significant rival in this field because of its state-of-the-art fusion biopsy systems, such the Trinity system, which increase accuracy in MRI-ultrasound fusion-guided biopsies. Strategic alliances, like the one with DeepHealth, are an important aspect of the company's approach. The goal of this collaboration was to enhance the precision and effectiveness of prostate cancer diagnosis by combining KOELIS's imaging technology with DeepHealth's AI-driven solutions. Through such collaborations, KOELIS enhances its technological offerings, expands its reach, and strengthens its position within the fusion biopsy market.

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