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 minimally invasive procedure used to diagnose lung cancer and other lung related diseases. It allows real-time view of lungs and lymph nodes to collect biopsy samples with minimal complications to patients.
Market key trends:
One of the key trends in the endobronchial ultrasound biopsy market is increasing adoption of EBUS-TBNA technique for diagnosis of lung cancer. EBUS-TBNA has emerged as a minimally invasive technique for sampling mediastinal and hilar lymph nodes under real-time ultrasound guidance using a bronchoscope. It has accuracy of over 90% for diagnosis of lung cancer lymph node staging. Research shows EBUS-TBNA has led to 40% reduction in mediastinoscopy procedures which are more invasive. Its minimally invasive nature and high accuracy are resulting in greater acceptance among doctors as well as patients.
SWOT Analysis
Strength: Endobronchial Ultrasound Biopsy provides real-time images of lesions and lymph nodes during biopsy procedures. This ensures samples are taken from the correct locations to accurately diagnose lung cancer and other diseases.
Weakness: Endobronchial Ultrasound Biopsy requires highly skilled physicians to interpret images and perform biopsies. This limits its availability at certain medical centers.
Opportunity: The rising incidence of lung cancer worldwide is driving the need for accurate diagnostic procedures like Endobronchial Ultrasound Biopsy. Favorable reimbursement policies will also support the adoption of this technology.
Threats: High procedure costs and lack of insurance coverage in some countries can limit the access to Endobronchial Ultrasound Biopsy. Alternative diagnostic methods like CT-guided transthoracic needle aspiration also pose competition.
Key Takeaways
The global Endobronchial Ultrasound Biopsy Market Size is expected to witness high, exhibiting a CAGR of 9.0% over the forecast period, due to increasing incidence of lung cancer around the world. Lung cancer is one of the leading causes of cancer-related deaths and early diagnosis can improve treatment outcomes.
Regional analysis: North America is expected to dominate the Endobronchial Ultrasound Biopsy market during the forecast period. Presence of advanced healthcare infrastructure and high adoption of new diagnostic technologies drive the North America market. Asia Pacific is anticipated to be the fastest growing region owing to growing healthcare expenditure, rising medical tourism, and increasing awareness regarding early detection of cancer.
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., and ACON Laboratories, Inc. Major players are focusing on new product launches and geographic expansion strategies to gain market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
