Endobronchial Ultrasound Biopsy Market Estimated To Witness High...

Endobronchial Ultrasound Biopsy Market Estimated To Witness High Growth Owing To Increasing Incidence Of Lung Cancer

Сообщение 2024-01-03 09:37:56

1Кб

The endobronchial ultrasound biopsy market includes endoscopes and ultrasound devices that are used to obtain samples from enlarged lymph nodes inside the chest for diagnostic purposes. Endobronchial ultrasound biopsy helps physicians to diagnose various lung conditions including cancer by providing real-time images of the lungs and mediastinum. EBUS biopsy procedures allow doctors to access areas of the lungs that were traditionally difficult to reach using other methods.

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 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Increasing incidence of lung cancer is the primary driver fueling growth of the endobronchial ultrasound biopsy market. According to the World Health Organization (WHO), lung cancer causes the most cancer deaths globally with over 1.8 million deaths recorded in 2020. Early diagnosis is critical for better treatment outcomes of lung cancer. Since EBUS biopsy provides accurate diagnosis of small lung nodules and lymph nodes, its demand has surged significantly. Additionally, ongoing technological advancements in EBUS systems such as newer ultrasound frequencies and minimally invasive probes are also boosting adoption rate. However, high costs associated with EBUS procedures restrict market growth to some extent.

SWOT Analysis
Strength: The endobronchial ultrasound biopsy market has strong growth potential due to rising cases of lung cancer. It provides accurate diagnosis of cancer and related conditions. Moreover, ongoing technological advancements are making EBUS procedures more precise and effective.
Weakness: High procedural costs of EBUS make it unaffordable for many.Requirement of skilled professionals further adds to the expenses.
Opportunity: Increasing healthcare expenditures and rising awareness about early cancer detection in developing nations offer lucrative opportunities. Untapped rural markets also provide scope for market expansion.
Threats: Alternative low-cost diagnosis methods pose serious threat. Stringent regulations hinder quick product approvals.

Key Takeaways
The global Endobronchial Ultrasound Biopsy Market Share is expected to witness high growth. The market is estimated to reach a value of US$ 722.67 Bn by 2024, expanding at a CAGR of 7.4% during the forecast period of 2023 to 2030.

Regional Analysis: North America currently dominates the market due to rapid technological advancements and widespread healthcare infrastructure. Moreover, presence of key market players and rising incidence of lung cancer has boosted regional market growth. The U.S. holds the largest share in the North America Endobronchial Ultrasound Biopsy market.

Key players operating in the Endobronchial Ultrasound Biopsy market are Alf Engineering, F-TECH, Magna International, Metalsa, Nissin Kogyo, Sango Co., Ltd., Tata Precision Tubes, Tenneco, Thyssenkrupp AG, Vari-Form, and Yorozu. The prominent players are focusing on new product launches and strategic partnerships to strengthen their market position.

Get More Insights On This Topic: https://www.pressreleasebulletin.com/endobronchial-ultrasound-biopsy-market-share-analysis/