Prostate Biopsy Market Size is valued at USD 5.81 Bn in 2023 and is predicted to reach USD 8.75 Bn by the year 2031 at a 5.39% CAGR during the forecast period for 2024-2031.
A prostate biopsy is a technique where tissue samples are taken from the prostate gland to detect prostate cancer. The market is influenced by factors such as rising prostate cancer rates, heightened awareness of early detection, and advancements in biopsy techniques. Prostate cancer is a common malignancy in men, and timely identification via biopsies is crucial for effective therapy. There are several types of prostate biopsy methods, including transrectal ultrasound-guided biopsy and transperineal biopsy. These procedures need the use of specialized devices to gather tissue samples for subsequent analysis.
Furthermore, technological breakthroughs in the market include the use of MRI-guided biopsies and the development of targeted biopsy procedures, both of which enhance accuracy and reduce the need for repeat biopsies. However, market constraints include potential dangers and problems from the operation, patient pain, and the necessity for competent healthcare personnel to execute the biopsies.
Competitive Landscape
Some Major Key Players In The Prostate Biopsy Market:
Market Segmentation:
The Prostate Biopsy Market is segmented on the basis of type and end-use industry. Based on Infrastructure, the market is segmented as Prostate Needle Biopsy and Prostate Liquid Biopsy. The end-use industry segment consists of packaging, Hospitals, Ambulatory Surgical Center, and Others.
Based On Product Type, The Prostate Needle Biopsy Category Will Generate The Most Revenue.
The Prostate Needle Biopsy segment is expected to generate the most revenue in 2023 due to accurate sample of prostatic tissue that is deemed high risk for prostatic cancer. The Prostate Liquid Biopsy category is expected to have the quickest CAGR for the estimated period. This is due to the fact that the operation is simple, inexpensive, and quick, and it aids in the treatment of cancer by offering a more systemic perspective of the disease, which boosts the usage of PSA tests by prostate biopsy and drives the growth of this segment.
The Hospitals Category Will Account For The Largest Prostate Biopsy Market Share.
The Hospitals category will account for the largest Prostate Biopsy market share in the upcoming future. This is mostly due to the rising availability of a large number of beds that provide speedy services, proper treatment, and the availability of qualified professionals, as well as the availability of transrectal ultrasound, which raises the need for treatment in hospitals and hence accelerates the expansion of this segment. The segment, ambulatory surgical centers is expected to have the fastest CAGR of forecasting period. This is mostly due to the availability of healthcare facilities that focus on delivering same-day surgical help, including diagnostic and preventive procedures, which is driving the expansion of the market.
In The Region, The North America Prostate Biopsy Market Holds A Significant Revenue Share.
North America dominated the market before, owing to increased patient awareness, rising prevalence of prostate cancer, proactive government actions, improvements and technological breakthrough in healthcare infrastructure. According to an American Cancer Society article released in January 2023, prostate cancer is more common in older men, particularly those over the age of 65. Individuals under the age of 40 are less likely to be affected. Men over the age of 65 account for approximately ten out of every six cases diagnosed. Men with prostate cancer typically have a life expectancy of roughly 66 years after diagnosis, highlighting the importance of early identification in prognosis. Understanding these demographic patterns is critical for developing targeted screening and intervention techniques. Additionally, Asia Pacific is expected to experience the most rapid expansion in the market. According to an Informa UK Limited article published in July 2023, prostate cancer incidence rates differ between countries with very high Human Development Indexes (HDI), such as Japan and China, and those with lower HDIs, such as Vietnam and the Philippines.
Recent Developments:
Prostate Biopsy Market Report Scope
|
Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD 5.81 Bn |
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Revenue Forecast In 2031 |
USD 8.75 Bn |
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Growth Rate CAGR |
CAGR of 5.39% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type, End-Use Industry |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
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Competitive Landscape |
Koninklijke Philips N.V., Eigen, 3D Biopsy Inc., BIOBOT SURGICAL PTE LTD, Cook, Boston Scientific Corporation, STERIS LAB S.r.l, C. R. Bard, Inc., and Thermo Fisher Scientific Inc. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Prostate Biopsy Market Snapshot
Chapter 4. Global Prostate Biopsy Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Type Estimates & Trend Analysis
5.1. by Type & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Type:
5.2.1. Prostate Needle Biopsy
5.2.2. Prostate Liquid Biopsy
Chapter 6. Market Segmentation 2: by End-Use Industry Estimates & Trend Analysis
6.1. by End-Use Industry & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by End-Use Industry:
6.2.1. Hospitals
6.2.2. Ambulatory Surgical Center
6.2.3. Others
Chapter 7. Prostate Biopsy Market Segmentation 3: Regional Estimates & Trend Analysis
7.1. North America
7.1.1. North America Prostate Biopsy Market Revenue (US$ Million) Estimates and Forecasts by Type, 2019-2031
7.1.2. North America Prostate Biopsy Market Revenue (US$ Million) Estimates and Forecasts by End-Use Industry, 2019-2031
7.1.3. North America Prostate Biopsy Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031
7.2. Europe
7.2.1. Europe Prostate Biopsy Market Revenue (US$ Million) Estimates and Forecasts by Type, 2019-2031
7.2.2. Europe Prostate Biopsy Market Revenue (US$ Million) Estimates and Forecasts by End-Use Industry, 2019-2031
7.2.3. Europe Prostate Biopsy Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031
7.3. Asia Pacific
7.3.1. Asia Pacific Prostate Biopsy Market Revenue (US$ Million) Estimates and Forecasts by Type, 2019-2031
7.3.2. Asia Pacific Prostate Biopsy Market Revenue (US$ Million) Estimates and Forecasts by End-Use Industry, 2019-2031
7.3.3. Asia Pacific Prostate Biopsy Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031
7.4. Latin America
7.4.1. Latin America Prostate Biopsy Market Revenue (US$ Million) Estimates and Forecasts by Type, 2019-2031
7.4.2. Latin America Prostate Biopsy Market Revenue (US$ Million) Estimates and Forecasts by End-Use Industry, 2019-2031
7.4.3. Latin America Prostate Biopsy Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031
7.5. Middle East & Africa
7.5.1. Middle East & Africa Prostate Biopsy Market Revenue (US$ Million) Estimates and Forecasts by Type, 2019-2031
7.5.2. Middle East & Africa Prostate Biopsy Market Revenue (US$ Million) Estimates and Forecasts by End-Use Industry, 2019-2031
7.5.3. Middle East & Africa Prostate Biopsy Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031
Chapter 8. Competitive Landscape
8.1. Major Mergers and Acquisitions/Strategic Alliances
8.2. Company Profiles
8.2.1. Koninklijke Philips N.V
8.2.2. Eigen
8.2.3. 3D Biopsy Inc
8.2.4. BIOBOT SURGICAL PTE LTD
8.2.5. Cook Medical
8.2.6. Boston Scientific Corporation
8.2.7. STERIS LAB S.r.l,
8.2.8. C. R. Bard Inc
8.2.9. Thermo Fisher Scientific Inc.
Prostate Biopsy Market By Type -
Prostate Biopsy Market By End-Use Industry -
Prostate Biopsy Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
