by The global Endobronchial Ultrasound Biopsy Market is estimated to be valued at Us$ 633.5 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 biopsy (EBUS) is a minimally invasive procedure that helps in early diagnosis of lung cancer and other lung diseases. EBUS uses an ultrasound probe attached to a bronchoscope. It allows real-time viewing of lymph nodes and soft tissue layers surrounding the bronchi. This helps physicians in accurate sampling or biopsy of suspicious lesions for diagnostic purposes. EBUS has emerged as a valuable tool that offers high quality images, avoids surgery or other invasive procedures, and provides safety and comfort to patients.
Market Key Trends
One of the key trends in the endobronchial ultrasound biopsy market is the development of hybrid systems that integrate EBUS with electromagnetic navigation bronchoscopy (ENB). These systems allow virtual bronchoscopic navigation to help physicians reach small or hard-to-access pulmonary lesions. For example, Medtronic launched CoughAssist T70 which combines EBUS and ENB for improved biopsy yields. Another trend is the increasing adoption of EBUS in diagnostic evaluation of sarcoidosis. The high sensitivity and specificity of EBUS for detecting sarcoidosis makes it a valuable tool to guide patient management decisions. Furthermore, miniaturization of ultrasound probes and development of single-use devices are expanding the application of EBUS in outpatient settings as well.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low as this is an established market requiring high investments in research and development.
Bargaining power of buyers: The bargaining power of buyers is moderate as the differentiated products in this market provide some control to buyers.
Bargaining power of suppliers: The bargaining power of suppliers is low considering the significant number of suppliers and the fragmented nature of supply chain in this market.
Threat of new substitutes: The threat of new substitutes is low as there are limited substitute products available for endobronchial ultrasound biopsy.
Competitive rivalry: High due to presence of established global players.
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. The American Cancer Society estimates that around 234,030 new cases of lung cancer will be diagnosed in the US in 2018.
Regional analysis: North America is expected to dominate the global market during the forecast period. Factors such as increasing healthcare expenditure, advanced healthcare infrastructure, presence of leading market players and rising cancer screening rate are responsible for North America’s large share in the global market. Asia Pacific is anticipated to exhibit the fastest growth rate during the forecast period.
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. Boston Scientific Corporation and Medtronic PLC hold majority share of the market.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya,a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
