by The Endobronchial Ultrasound Biopsy Market is estimated to be valued at Us$ 469.5 Mn or millions in 2022 and is expected to exhibit a CAGR Of 4.6% over the forecast period 2017-2025, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Endobronchial ultrasound biopsy (EBUS) is a minimally invasive procedure used to diagnose and stage lung cancer and other lung diseases. EBUS guides the physician to sample lymph nodes and soft tissues adjacent to the airways through the use of ultrasound technology inserted through the bronchoscope. It helps in obtaining samples without invasive surgical procedures.
Market Dynamics:
The increasing prevalence of lung cancer is expected to drive the growth of the endobronchial ultrasound biopsy market over the forecast period. As per the data provided by the World Health Organization (WHO), lung cancer cases accounted for over 2.1 million new cases and claimed over 1.8 million lives worldwide in 2018. Technological advancements in endobronchial ultrasound biopsy systems is another factor fueling the market growth. Newer systems are integrated with electromagnetic navigation systems, autofluorescence, and confocal endomicroscopy which help physicians to detect cancerous tissues more accurately. The rising use of minimally invasive procedures owing to advantages such as reduced recovery time and hospital stay is also propelling the market growth.
Segment Analysis
The global endobronchial ultrasound biopsy market is segmented into three major product types: needles, biopsy forceps and bronchoscopes. The needles segment dominated the market in 2016 and accounted for more than 50% market share in terms of revenue. This is mainly attributed to the increasing adoption of endobronchial ultrasound biopsy procedures for lung cancer diagnosis. Needles are the most crucial component required for performing ultrasound guided biopsy and have wider application in both transbronchial and transesophageal biopsy procedures.
PEST Analysis
Political: Regulations supporting lung cancer screening and diagnosis are expected to drive the market growth. Various governments are taking initiatives to increase awareness about early disease detection.
Economic: Rising healthcare expenditure and growing economic conditions in developing regions provide growth opportunities.
Social: Increasing prevalence of lung cancer and other respiratory diseases along with growing social support for cancer treatment and diagnosis are driving the demand.
Technological: Advancements in endobronchial ultrasound systems, needles and imaging technologies help improving the diagnostic accuracy and yield rate. Development of novel precision tools allows minimally invasive procedures.
Key Takeaways
The global Endobronchial Ultrasound Biopsy Market is expected to witness high growth, exhibiting CAGR of 4.6% over the forecast period, due to increasing prevalence of lung cancer. The market was valued at US$ 469.5 Mn in 2016 and is estimated to reach US$ 668.7 Mn by 2025. North America is expected to dominate the market during the forecast period. This is attributed to increasing healthcare expenditure, high adoption of advanced biopsy tools and large patient pool undergoing biopsy procedures in the region.
The Asia Pacific region is anticipated to exhibit the fastest growth during the forecast period owing to rising awareness about cancer diagnosis, growing healthcare infrastructure and improving reimbursement policies in emerging countries such as India and China.
Key players operating in the endobronchial ultrasound biopsy market are Boston Scientific Corporation, Medtronic PLC, Olympus Corporation, Cook Medical Incorporated, Veran Medical Technologies, Medi-Globe Corporation, Pentax Medical, FUJIFILM Corporation, and Simbionix USA Corporation. These players are focused on developing innovative products and adopting acquisition and partnership strategies to strengthen their market position.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
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