February 24, 2024

Rising Healthcare Spending to boost the growth of the Global Endobronchial Ultrasound Biopsy Market

The global Endobronchial Ultrasound Biopsy Market is estimated to be valued at US$ 722.67 Bn in 2023 and is expected to exhibit a CAGR of 9.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Endobronchial ultrasound biopsy is a medical procedure that uses an endoscope called a bronchoscope with an attachment that contains an ultrasound transducer to obtain samples of suspicious lymph nodes or lesions near and around the central airways of the lungs. This allows visualization of lesions and lymph nodes adjacent to and outside of the airway walls that are not accessible with standard bronchoscopy. Physicians use curved endobronchial ultrasound probes to more accurately guide biopsies through the trachea and major bronchi down into the lungs. This minimally invasive technique provides real-time images to assist the physician in obtaining tissue samples for evaluation under microscopic examination.

Market key trends:
One of the key trends in the endobronchial ultrasound biopsy market is the growing adoption of radial probe EBUS. Radial probe EBUS provides 360-degree views of areas surrounding the bronchus being examined, allowing the visualization and sampling of lesions immediately adjacent to the airways. This reduces the number of failed biopsies and improves diagnostic yield. It is less costly and time-consuming compared to traditional surgical procedures for lung cancer diagnosis. Additionally, presence of key players and ongoing research and development activities to develop innovative product offerings are expected to support the market growth over the forecast period.

Porter’s Analysis
Threat of new entrants: The specialty equipment required and high regulatory barriers pose significant entry barriers for new players in this market.
Bargaining power of buyers: The presence of several vendors providing similar EBUS biopsy devices enables buyers to negotiate for better prices and terms.
Bargaining power of suppliers: Key components such as fiberscopes, integrated circuit boards are specialized, giving greater bargaining power to suppliers.
Threat of new substitutes: There is no substitute for EBUS biopsy procedures currently available as it provides minimally invasive alternative to surgical biopsies.
Competitive rivalry: The market comprises several global companies offering a wide range of EBUS biopsy devices. Price competition is intense.

Key Takeaways
The global Endobronchial Ultrasound Biopsy Market is expected to witness high growth, exhibiting a CAGR of 9.0% over the forecast period, due to increasing prevalence of lung cancer. According to WHO, lung cancer is the leading cause of cancer death globally. EBUS biopsy plays a crucial role in early detection and accurate diagnosis of lung cancer.

Regional analysis: North America dominates the EBUS biopsy market, owing to growing geriatric population, high healthcare spending, ongoing research, and rising lung cancer incidence in the US and Canada. Asia Pacific is projected to be the fastest growing market due to huge population base, growing medical tourism, improving access to healthcare facilities, and rising lung cancer burden in countries like China and India.

Key players: Key players operating in the Endobronchial Ultrasound Biopsy market are Fujifilm Holdings Corporation, Olympus Corporation, Hitachi Medical Corporation, Pentax Medical (Hoya Corporation), Boston Scientific Corporation, Cook Medical, Carl Zeiss Meditec AG, Medtronic plc, BARD Diagnostic Systems, Inc., ACON Laboratories, Inc. Pentax and Olympus lead the global market, while Medtronic and Boston Scientific are emerging as strong competitors.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it