Increasing need for early cancer detection and growing demand for minimally invasive surgical procedures to bolster market growth
New York, February 03, 2022 – The global biopsy devices market size is expected to reach USD 3.69 billion by 2028 at a CAGR of 7.1%, according to the latest report by Reports and Data. Rising prevalence of cancer, rise in government initiatives to raise cancer awareness worldwide, increasing need for early diagnosis and prevention of cancer, and growing adoption of minimally invasive surgeries are among the most important parameters expected to drive growth of the global biopsy devices market over the forecast period. Other significant factors driving steady growth of this market are rising prevalence of chronic and infectious diseases, growing adoption of cutting-edge imaging technologies including Magnetic Resonance Imaging (MRI) and Computed Tomography (CT), rapidly advancing global healthcare infrastructure, and increased spending on healthcare services.
Biopsies are medical procedures performed to examine the cause of a particular disease. This process involves removal of tissue from affected part of the body to examine it for disease. They are generally performed for detection of cancers, renal diseases, peptic ulcers, liver inflammation, and various other infections. Punch biopsy, needle biopsy, endoscopic biopsy, fine needle aspiration, and excisional and incisional biopsies are the most widely performed biopsy procedures. With technological advancements in biopsy systems and integration of advanced imaging techniques, such as MRI, CT, ultrasound, and x-ray, the global market has gained rapid traction over recent years. Moreover, increased awareness about benefits offered by biopsy over other invasive diagnostic procedures, such as smaller incisions, lesser pain and scarring, and quicker recovery, is yet another factor expected to propel the global market growth. However, risks associated with surgical biopsies including excessive bleeding, pain and infection in surgical site, and damage to surrounding organs or tissue are predicted to limit market growth to a significant extent.
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Key Highlights of the Report:
- Based on product type, the needle-based biopsy instruments segment is expected to account for largest market share over the forecast period. This segment’s growth is principally attributed to growing usage of needle-based biopsy devices in cancer diagnosis, increasing adoption of minimally invasive diagnostic solutions, technological advancements in biopsy devices, and advantages of needle-based biopsies over other biopsy systems.
- North America is the leading regional market for biopsy devices in the global biopsy devices market with the highest revenue share in 2020. The regional market is predicted to display fastest growth in revenue market in the upcoming years owing to rising burden of chronic and infectious diseases, rising prevalence of cancer, rise in government initiatives to raise cancer awareness, and growing focus on early cancer screening. Rise in adoption of advanced biopsy products such as vacuum-assisted biopsy systems and the region’s avant-garde healthcare infrastructure are expected to further boost market growth in North America.
- Medtronic Plc, Argon Medical Devices, Inc., Becton Dickinson and Company, B. Braun Melsungen AG, Boston Scientific Corporation, Fujifilm Holdings Corp., Cardinal Health, Inc., Danaher Corporation (Leica Microsystem), Hologic, Inc., Devicor Medical Products, Inc., Cook Medical, Inc., Olympus Corporation, INRAD, Inc., and C. R. Bard, Inc. are the key market competitors.
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For the purpose of this report, the global biopsy devices market is segmented based on product type, imaging technique, application, end-use, and region:
By Product Type (Revenue, USD Billion; 2018-2028)
- Needle-based Biopsy Instruments
- Core Biopsy Devices
- Core Biopsy Guns
- Core Biopsy Needles
- Vacuum-assisted Biopsy Devices
- Vacuum-assisted Biopsy Systems
- Vacuum-assisted Biopsy Needles
- Aspiration BiopsyNeedles
- Core Biopsy Devices
- Manual and Robotic Biopsy Guidance Systems
- Biopsy Forceps
- Procedure Trays
- Localization Wires
- Others (brushes, punches, curettes, etc.)
By Imaging Technique (Revenue, USD Billion; 2018-2028)
- Ultrasound-guided Biopsy
- Stereotactic-guided Biopsy
- MRI-guided Biopsy
- CT Scan
By Application (Revenue, USD Billion; 2018-2028)
- Lung biopsy
- Liver biopsy
- Kidney biopsy
- Gastroenterological biopsy
- Gynecological biopsy
- Breast biopsy
- Prostate biopsy
By End-use (Revenue, USD Billion; 2018-2028)
- Diagnostic and Imaging Centers
- Academic & Research Institutes
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By Region (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of the Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of the Middle East & Africa
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