The 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 (EBUS) is a minimally invasive medical procedure used to diagnose and stage lung cancer and mediastinal lymph node disease. It involves the use of an ultrasound bronchoscope to visualize mediastinal structures and lymph nodes of the lungs. EBUS-TBNA biopsy allows the collection of samples from the lung and lymph nodes for histological evaluation through minimally invasive methods. The procedure helps avoid complex and invasive surgical biopsy for diagnosis. It is an important tool for evaluating the mediastinum and staging non-small cell lung cancer and other thoracic malignancies.
Market Dynamics
Growing prevalence of lung cancer is a major driver for growth of endobronchial ultrasound biopsy market. According to the World Health Organization, lung cancer is the leading cause of cancer death globally. The disease accounted for around 1.8 million new cases and 1.6 million deaths globally in 2020. Increasing adoption of minimally invasive procedures over surgical biopsies is another factor fueling adoption of endobronchial ultrasound biopsy. EBUS-TBNA provides better diagnostic yield compared to conventional techniques with lower risk to patients. Technological advancements leading to launch of portable and automated ultrasound bronchoscopy systems are also augmenting the market growth. However, high cost of equipment and procedural complexity requiring trained medical professionals are some of the factors challenging widespread adoption.
SWOT Analysis
Strength: The endobronchial ultrasound biopsy market has strong growth potential due to rising prevalence of lung cancer. It allows precise diagnosis of lung tumors with real-time imaging guidance. Many players are investing in R&D to develop advanced EBUS biopsy devices with improved functionality.
Weakness: High costs associated with EBUS biopsy procedures limit their adoption in budget constrained settings. Stringent regulatory processes also increase time delays in product approval and commercialization.
Opportunity: Increasing healthcare expenditures in emerging nations provide lucrative growth opportunities. Rising government initiatives to spread lung cancer awareness also favor market growth.
Threats: Alternative minimally invasive procedures like transcarinal biopsy pose competition. Economic slowdowns during pandemic crisis negatively impact market revenues.
Key Takeaways
The global Endobronchial Ultrasound Biopsy Market Analysis is expected to witness high, exhibiting CAGR of 9.0% over the forecast period, due to increasing prevalence of lung cancer. Rising elderly population is also fueling market value, as risks of cancer are higher among geriatrics. The market was valued at US$ 722.67 Bn in 2023 and is estimated to reach over US$ 1,500 Bn by 2030-end.
Regional analysis
The endobronchial ultrasound biopsy market in North America holds the largest share due to rising government support for cancer research. Favorable reimbursement policies also support adoption of advanced EBUS biopsy devices. Asia Pacific exhibits the fastest growth supported by surging medical tourism, increasing healthcare infrastructure. Growing elderly population susceptible to lung cancer propels regional market revenues.
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. They are focused on launching innovative product varieties and achieving strategic acquisitions to strengthen their market position.
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