Biopsy is a medical procedure that include extraction of sample cells or tissues from a tumor for diagnosis and examination of malignancy. Biopsy is performed in two ways namely needle-based minimally invasive procedures and open surgical procedures.
The global biopsy devices market is estimated to account for US$ 3,786.8 Mn in terms of value by the end of 2027.
Get FREE Sample Report with Latest Covid19 Impact Analysis @ https://www.coherentmarketinsights.com/insight/request-sample/220
Growing cases of cancer is expected to drive growth of the global biopsy devices market during the forecast period. According to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.
Furthermore, rising geriatric population is expected to boost growth of the global biopsy devices market over the forecast period. According to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.
In 2019, North America accounted for the largest share of 38.8% in terms of value in the global biopsy market, trailing by Europe and Asia Pacific respectively.
Challenges associated with medical reimbursement are expected to restrain growth of the global biopsy devices market during the forecast period. Insurance companies do not provide reimbursement for every biopsy procedure. For instance, in European countries, core needle biopsies are not covered for reimbursements as medical insurance companies believe that these are only investigative techniques and not surgical techniques. Moreover, reimbursements are available for core needle biopsies only if they are recommended by surgeons as medically unavoidable.
Moreover, introduction of taxes such as the Medical Device Excise Tax (MDET) of 2.3% in the U.S. is also expected to limit the market growth.
Continuous research and development efforts in wireless biopsy can provide prominent business opportunities for marketers. For instance, in January 2020, researchers from Chonnam National University, South Korea, reported development of a novel wireless biopsy capsule endoscopes employing active five degree-of-freedom locomotion and a biopsy needle punching mechanism for the histological analysis of the intestinal tract.
Get PDF Brochure with Latest Insights @ https://www.coherentmarketinsights.com/insight/request-pdf/220
Furthermore, growing adoption of artificial intelligence (AI) in biopsy can present lucrative growth opportunities in the market. For instance, in October 2018, Freenome, an AI genomics company based in the U.S., is focused on developing blood tests to detect the body’s early-warning signs of cancer, using AI. In October 2018, the company presented early data in R&D for using machine learning to detect colorectal cancer at its earliest stages.
The global biopsy devices market was valued at US$ 2,250.1 Mn in 2019 and is forecast to reach a value of US$ 3,786.8 Mn by 2027 at a CAGR of 6.7% between 2020 and 2027.
Key companies in the global biopsy devices market are laying emphasis on product launches and approvals, in order to gain a competitive advantage in the market. For instance, in December 2019, Medtronic plc received the U.S. Food and Drug Administration clearance for its Stealth Autoguide system, for biopsy procedures, stereoelectroencephalography (sEEG) depth electrode placement, and for the positioning of the Visualase bone anchor, which is used for catheter placement.
Moreover, key companies are adopting inorganic growth strategies such as mergers and acquisitions, in order enhance the market presence. For instance, in January 2019, IZI Medical Products acquired a set of biopsy and breast localization needles from Cook Medical for an undisclosed amount.
Major players operating in the global biopsy devices market include, Angiotech, Cardinal Health Inc., CareFusion Corporation, BD, Devicor Medical Products, Inc., DTR Medical, Hologic, Inc., INRAD, Inc., UK Biopsy, Medtronic plc, IZI Medical Products, FUJIFILM Medical Systems U.S.A., Saga Diagnostics, Zomedica Pharmaceuticals Corp., QIAGEN N.V, GRAIL, Inc., and Foundation Medicine, Inc.
Major players in the global biopsy devices market are focused on approval and launch of new devices in order to expand their product portfolio. For instance, in January 2020, Zomedica Pharmaceuticals Corp., a veterinary diagnostic and pharmaceutical company, announced completing the development and manufacturing of its reference lab cancer liquid biopsy platform for canine cancers.
Major players in the market are focused on approval and launch of new devices in order to expand their product portfolio. For instance, in February 2020, QIAGEN N.V launched its FFPE and liquid biopsy PIK3CA diagnostics in Europe as an aid in identifying breast cancer patients with a phosphatidyl 3-kinase catalytic subunit alpha (PIK3CA) mutation
𝐂𝐡𝐫𝐢𝐬𝐭𝐦𝐚𝐬 𝐒𝐚𝐥𝐞 𝐈𝐬 𝐋𝐢𝐯𝐞!
𝐁𝐮𝐲 𝐍𝐨𝐰 𝐓𝐨 𝐀𝐯𝐚𝐢𝐥 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐅𝐫𝐨𝐦 𝟐𝟓-𝟑𝟎% 𝐭𝐢𝐥𝐥 𝟑𝟏-𝐃𝐞𝐜-𝟐𝟎𝟐𝟏
Purchase This Premium Report To Access Full Information @ https://www.coherentmarketinsights.com/insight/buy-now/220
Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global Biopsy Devices Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: Biopsy Devices Industry Impact
Chapter 2 Global Biopsy Devices Competition by Types, Applications, and Top Regions and Countries
2.1 Global Biopsy Devices (Volume and Value) by Type
2.3 Global Biopsy Devices (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Biopsy Devices Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Biopsy Devices Market Analysis
Chapter 6 East Asia Biopsy Devices Market Analysis
Chapter 7 Europe Biopsy Devices Market Analysis
Chapter 8 South Asia Biopsy Devices Market Analysis
Chapter 9 Southeast Asia Biopsy Devices Market Analysis
Chapter 10 Middle East Biopsy Devices Market Analysis
Chapter 11 Africa Biopsy Devices Market Analysis
Chapter 12 Oceania Biopsy Devices Market Analysis
Chapter 13 South America Biopsy Devices Market Analysis
Chapter 14 Company Profiles and Key Figures in Biopsy Devices Business
Chapter 15 Global Biopsy Devices Market Forecast (2021-2027)
Chapter 16 Conclusions
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027