Prostate Biopsy Market Advancing Rapidly with AI-Integrated Imaging, High-Precision Liquid Biopsy Systems, and Expanding Research and Development Efforts

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Prostate Biopsy Market - (By Type (Prostate Needle Biopsy, Prostate Liquid Biopsy), By End-Use Industry (Hospitals, Ambulatory Surgical Center, Others)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Prostate Biopsy Market is valued at US$ 5.81 Bn in 2023, and it is expected to reach US$ 8.75 Bn by 2031, with a CAGR of 5.39% during the forecast period of 2024-2031.

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Prostate biopsy is a critical diagnostic procedure employed to detect prostate cancer through the extraction of tissue samples from the prostate gland. This procedure is commonly performed following the identification of elevated prostate-specific antigen (PSA) levels during screening and typically involves the use of a fine needle, often guided by transrectal ultrasound, to obtain precise tissue samples for pathological evaluation and confirmation of malignancy.

The rising global prevalence of prostate cancer, coupled with ongoing advancements in diagnostic and imaging technologies, is a key driver of growth in the prostate biopsy market. Additionally, increased investment in research and development focused on improving early cancer detection methods is expected to further support market expansion over the forecast period.

List of Prominent Players in the Prostate Biopsy Market:
• 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.
• Thermo Fisher Scientific Inc.

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Market Dynamics
Drivers:
The rising incidence of prostate cancer is a key factor driving growth in the prostate biopsy market. This trend is further supported by the expanding global geriatric population, particularly men aged 60 years and above. United Nations projections indicate that the global elderly population will exceed 2 billion by 2050. Prostate cancer is most commonly diagnosed in men over 65, with approximately 65% of cases occurring within this age group, thereby creating strong demand for prostate biopsy procedures and associated diagnostic technologies.

Challenges:
The market faces several challenges, including stringent regulatory requirements for the approval and commercialization of prostate biopsy devices. Compliance with these regulations can delay product launches and increase development costs. Additionally, the availability of alternative diagnostic methods may moderately constrain the adoption of prostate biopsy instruments, limiting overall market expansion.

Regional Trends:
In 2023, North America held the largest share of the global prostate biopsy market, accounting for 44.9% of total revenue. This leadership position is underpinned by high public awareness, a significant prevalence of prostate cancer, robust government initiatives, continuous technological advancements, and advanced healthcare infrastructure. According to the American Cancer Society (January 2023), men aged 65 and older represent roughly 65% of all prostate cancer diagnoses, highlighting the critical role of early detection and targeted screening programs in the region.

Conversely, the Asia-Pacific region is projected to experience the fastest growth over the forecast period. Prostate cancer incidence varies significantly across countries within the region, influenced by differences in development levels. Countries with higher Human Development Index (HDI) scores, such as Japan and China, report higher incidence rates compared to lower-HDI nations, including Vietnam and the Philippines, as reported by Informa UK Limited (July 2023). These variations present both challenges and opportunities for market penetration and the implementation of region-specific healthcare strategies.

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Recent Developments:
• In Oct 2023, Philips and Quibim developed AI-powered MR imaging and image processing software to assist physicians in providing quicker and more efficient prostate cancer treatment, addressing staff shortages, and reducing healthcare costs.
• In Nov 2022, Thermo Fisher Scientific launched more than 50 new Absolute Q Liquid Biopsy Assays for use on the Applied Biosystems QuantStudio Absolute Q dPCR System. This system is a fully integrated digital PCR (dPCR) system that aims to deliver precise and reliable results in under 90 minutes with no manual intervention.

Segmentation of Prostate Biopsy Market-
By Type -
• Prostate Needle Biopsy
• Prostate Liquid Biopsy
By End-Use Industry -
• Hospitals
• Ambulatory Surgical Center
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

Read Overview Report- https://www.insightaceanalytic.com/report/prostate-biopsy-market/2336

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.