The global biopsy devices market size was estimated at $2.72 billion in 2018, and is expected to hit $4.31 billion by 2026, registering a CAGR of 5.9% during the forecast period.
The biopsy devices market is currently dominated by conventional biopsy technologies such as needle biopsy and surgical biopsy. The cost of conventional biopsy procedure is less than that of advanced image-guided biopsy procedures, owing to their wider availability. Increase in the prevalence of chronic diseases and a rise in disposable income in developing economies fuel the adoption of novel biopsy procedures. Moreover, the rise in awareness for diagnosis of diseases fosters the demand for integrated biopsy technologies such as MRI-guided breast biopsy. However, low income and lack of proper medical attention in developing countries hamper the growth of the biopsy devices market.
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The world biopsy devices market is poised to grow at a CAGR of 5.9% from 2019 to 2026, owing to increase in several types of cancer such as breast, prostate, & lung, and rapid technological advancements in the field of diagnostics. The emerging economies have witnessed an upsurge in the prevalence of chronic diseases due to increase in the aged population and change in lifestyles. Emergence of novel biopsy techniques and advanced integrated imaging technology, such as MRI, CT, ultrasound scan, and others, are expected to supplement the diagnosis of chronic diseases namely, cancer using biopsy procedures. However, the high cost associated with advanced biopsy technologies may restrict market growth.
North America garnered the lion’s share-
North America was the highest revenue-generating region due to rise in incidences of chronic diseases in 2019. North America, collectively, accounted for more than two-fifths of the overall market in 2018 and is anticipated to dominate in terms of revenue; this trend is likely to continue over the forecast period. Factors that drive the growth of biopsy devices in the developed regions are awareness about cancer diagnosis, high purchasing power, and availability of skilled personnel to perform biopsy procedures.
Frontrunners in the industry-
- Braun Melsungen AG
- Boston Scientific Corporation
- Argon Medical Devices, Inc.
- Danaher Corporation (Leica Microsystem)
- Cardinal Health, Inc.
- Cook Medical, Inc.
- Becton Dickinson and Company (C.R. Bard, Inc.)
- Fujifilm Holdings Corp.
- Medtronic plc.
- Hologic, Inc.
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Key Findings of the Biopsy Devices Market:
- Based on product, the needle-based biopsy instruments segment held 37.48% share in the global market in 2018.
- Based on application, the breast biopsy segment held largest market share in 2018, and is expected to remain dominant throughout the forecast period.
- Based on imaging technology, the CT scan biopsy segment exhibits fastest growth and is expected to grow at a CAGR of 6.6% from 2019 to 2026.
- Based on end user, the hospital segment held 40.16% share in the global market in 2018.
- Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 7.1% during the forecast period.
|By Product||Needle-Based Biopsy Instruments|
|Core Biopsy Devices|
|Aspiration Biopsy Needles|
|Vacuum-Assisted Biopsy Devices|
|By Application||Breast biopsy|
|By Imaging Technology||MRI-guided biopsy|
|By End User||Diagnostic & Imaging Centers|
|Scope of the Report:|
|Market size available for years||2019–2026|
|Base year considered||2018|
|Forecast units||Value (USD)|
|Segments covered||By Product, By Application, By Imaging Technology, By End User and By Geography|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
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