The endobronchial ultrasound biopsy market is estimated to be valued at US$ 631.2 Mn 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 (EBUS) biopsy uses an ultrasound bronchoscope to access lymph nodes in the chest and lungs. It is minimally invasive and used for tissue sampling and diagnosis of tumors, infection, or other lung diseases. EBUS biopsy provides real-time images of the bronchial walls and enables targeted biopsies of lesions or lymph nodes.
Market Dynamics:
Rising incidence of lung cancer is expected to be a major driver for the market. According to WHO, lung cancer was the most common cause of cancer-related deaths worldwide in 2018, accounting for over 1.7 million deaths. Furthermore, early diagnosis through EBUS biopsy provides better treatment options and improves survival rates. Increasing adoption of minimally invasive procedures for lung biopsies is also fueling demand for EBUS biopsy. For example, EBUS biopsy eliminates the need for surgical interventions in over 50% of intrathoracic pathologies.
SWOT Analysis
Strength: The endobronchial ultrasound biopsy market features advanced technology, high accuracy, and minimally invasive procedures. It offers real-time ultrasound imaging to help physicians obtain clear views and samples from inner lung lesions. Moreover, EBUS biopsy causes minimal damage and reduces risks for patients.
Weakness: EBUS biopsy procedures require specialized equipment and highly skilled physicians for handling advanced ultrasound technologies. This makes the treatment costly and inaccessible in low resource settings. The learning curve for newer physicians is also steep.
Opportunity: Rising incidence of lung cancer and increasing demand for minimally invasive diagnostic procedures present lucrative growth prospects. Favorable reimbursement policies in developed nations boost the market. New product launches with enhanced features will expand the applications.
Threats: High costs pose affordability challenges in price-sensitive developing markets. Alternative diagnostic methods like CT-guided biopsy compete for market share. Stringent regulatory approvals also delay product launches.
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. According to Globocan estimates, 2.09 million new lung cancer cases were reported in 2018. EBUS biopsy enables accurate pathological diagnosis with minimally invasive procedures.
Regional analysis
North America dominates the endobronchial ultrasound biopsy market currently due to robust reimbursement structure and significant cancer research funding. The US accounts for the largest revenue share. Asia Pacific is poised to grow at the fastest pace owing to rising healthcare spending, large patient pools, and growing medical tourism in countries like India, China and Japan.
Key players
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 established brands continuously invest in product innovations and expand into developing markets through new partnerships.
Comments
0 comment