by Endobronchial ultrasound (EBUS) biopsy is a procedure used in the diagnosis of lung cancer and other respiratory disorders. It plays a key role in localizing lymph nodes and lesions in the lung that are not accessible by standard bronchoscopy. EBUS systems consists of a flexible bronchoscope equipped with a miniature ultrasound probe at its distal end. The ultrasound image provides real-time guidance for obtaining samples from suspicious lung lesions and lymph nodes.
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.
The global market is primarily driven by the increasing prevalence of chronic respiratory disorders such as asthma, chronic obstructive pulmonary disease (COPD), and lung cancer. According to the World Health Organization (WHO), chronic respiratory diseases account for approximately 4 million premature deaths worldwide each year. Moreover, smoking is one of the major causes of lung cancer and COPD, which contributes significantly to the global disease burden.
Market Dynamics
Increasing prevalence of chronic respiratory disorders as highlighted in the heading is one of the primary drivers fueling the growth of the endobronchial ultrasound biopsy market. EBUS biopsy plays a vital role in diagnosing various lung conditions since it allows real-time imaging and targeted sampling of lesions. Furthermore, technological advancements in EBUS platforms with the incorporation of ultrasound and electromagnetic navigation have enhanced their efficiency. Newer systems offer improved resolution, miniature probes, and integrated software for improved diagnostic yield with minimal invasiveness. This is expected to boost their adoption rate over the forecast period.
Segment Analysis
The global endobronchial ultrasound biopsy market is dominated by the hospitals & diagnostic centers sub segment. Hospitals and diagnostic centers cater to majority of patients suffering from lung cancer and respiratory disorders. This sub segment accounts for over 65% of market share owing to availability of advanced infrastructure and skilled pulmonologists for performing complex medical procedures like endobronchial ultrasound biopsy.
PEST Analysis
Political: Governments across regions are raising awareness and funding for diagnosis and treatment of lung cancer which is a major factor boosting the market growth. Economic: Rising healthcare expenditure and expanding healthcare infrastructure especially in developing nations is creating lucrative opportunities in the market. Social: Growing incidence of lung diseases due to rising pollution levels and smoking is increasing the demand for endobronchial ultrasound biopsy procedures. Technological: Development of advanced ultrasound probes and introduction of digital bronchoscopes integrated with ultrasound technology is fueling innovations.
Key Takeaways
Global Endobronchial Ultrasound Biopsy Market Size is expected to witness high growth at a CAGR of 7.4% during the forecast period of 2023 to 2030.
Regional analysis
North America dominates the market currently due to presence of advanced healthcare facilities and high preference for minimally invasive procedures. The Asia Pacific region is expected to witness fastest growth due to rising medical tourism, increasing healthcare expenditures and growing incidence of lung diseases.
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. These players are focusing on new product launches and strategic collaborations to strengthen their market position. For instance, Olympus Corporation launched expanded portfolio of ultrasound bronchoscopes to expand its product offerings.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
