“The widespread usage of biopsy screening programs has rapidly increased the adoption rate of breast biopsy procedures. Moreover, the diagnosis of breast cancer at early stages is quite affordable to women for best prognosis, thereby triggering the demand for breast biopsy procedures globally.”
According to a report published by Allied Market Research, the global breast biopsy market garnered $977 million in 2016, and is expected to generate $1.42 billion by 2023, registering a CAGR of 5.3% from 2017 to 2023. Based on the report, the core needle biopsy (CNB) segment held nearly half of the market share in 2016.
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The major factors that drive the growth of the market are increase in incidence of breast cancer, rise in awareness regarding cancer screening programs, and surge in demand for minimally invasive breast biopsies. In addition, technological advancements in diagnostic and treatment of breast cancer supplement the growth. However, lack of awareness regarding accessibility of novel breast biopsy techniques and risks related to infections in the procedures are expected to hamper the market growth.
The core needle biopsy (CNB) segment held the largest revenue share in 2016, and is estimated to maintain its lead status throughout the forecast period, owing to less invasive nature as compared to others and offering definitive diagnosis. In addition, usage of CNB along with mammographic and ultra-sonographic guidance for its high accuracy in diagnosis of breast cancer supplement the market growth. The ultrasound guided biopsy segment is expected to grow at the highest rate during the forecast period, owing to the usage of sound waves over ionizing radiation for locating abnormality or lump and less invasive procedure. This segment would register the highest CAGR of 6.1% from 2017 to 2023.
Asia-Pacific region is expected to register the highest growth rate during the analysis period, owing to the relentless growth in nations including Japan, China, India, and Australia. For instance, In Japan, in women aged in the range of 30–64, breast cancer has become one of the leading types of cancer over the past decade. Moreover, according to the Japanese Society of Breast Health, one in every 20 women have undergone the diagnosis of breast cancer in Japan. This trend indicates the significant rise in demand for breast biopsy processes for screening and diagnosis at early stages. Moreover, technological advancements for development of affordable devices in Asian regions offer lucrative opportunities for the growth.
Key leading players discussed in the market include
- Hologic Inc.,
- C. R. Bard, Inc.,
- Leica Biosystems Nussloch GmbH (Devicor Medical Products, Inc.),
- Argon Medical Devices,
- Becton and Dickinson Company,
- Encapsule medical Devices LLC,
- Cook Medical Incorporated,
- Intact Medical Corporation,
- Ethicon Endo Surgery (Johnson & Johnson), and Galini SRL.
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