Biopsy Devices Market

SKU: DMMD259 | Last Updated On: Sep 24 2022 | Available Formats

>Biopsy Devices Market Expected to reach a high CAGR 7.2% By 2029:

Biopsy Devices Market is segmented By Body Part (Breast Biopsy Devices, Colorectal Biopsy Devices, Lung Biopsy Devices, Liver Biopsy Devices, others), By Application (Gynecology, Urology, Interventional Cardiology, Interventional Oncology, Other Applications), By Biopsy Type (Stereotactic, Stereotactic, Needle Based, MRI Based, X-Ray Based, others), By End User (Hospital, Research Centres, Cancer Hospitals), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share Outlook, and Opportunity Analysis, 2022-2029.

Biopsy Devices Market is Expected to grow at a CAGR of 7.2% during the forecast period (2022-2029).

A biopsy is the removal of tissue from any part of the body to examine it for disease. Some may remove a small tissue sample with a needle while others may surgically remove a suspicious nodule or lump. The tissue samples can be taken from any part of the body. Biopsies are performed in several different ways. Some biopsies involve removing a small amount of tissue with a needle while others involve surgically removing an entire lump, or nodule, that is suspicious.

Biopsy Devices Market Dynamics

The global biopsy devices market growth is driven by the increasing frequency of various types of cancers across the globe. Rising need for early Biopsy Type of various diseases like cancer to avoid the death of the patient, modernization of healthcare infrastructure are also driving the growth of global market.  

The increasing preference for minimally invasive procedures will drive the market growth

The demand for minimally invasive biopsy procedures that is rising at a significant rate in the market. The different types of technologies and products, such as biopsy guiding systems, needle-based biopsy guns, and vacuum-assisted devices are anticipated to witness the high growth during the forecast period.

In addition, the growing awareness regarding breast cancer Application and Biopsy Type will support the increase in the biopsy devices market size in the forecast periods. There are many countries that hold programs for the early Biopsy Type of breast cancer. Therefore, such initiatives will accelerate the adoption rate of biopsy devices, thereby positively impacting the growth of the biopsy devices business in the forecast period. Biopsy has been one of the major Biopsy Type techniques for cancer disorders and is widely used in the Biopsy Type of breast, skin, and prostate cancer. According to the World Cancer Report, cancer rates could further increase by 50% to 15 million new cases by 2020. Therefore, with the increasing incidence of cancer cases and developments in the biopsy devices, the market is expected to increase in the forecast period. The increasing government initiatives to prevent the spread of cancer, adoption to modernized healthcare infrastructure is also favoring growth of the market in the forecast period.

Risks involved in the biopsy process will hamper the market growth   

Biopsies carry a small risk of bleeding and infection. Needle biopsy carries a small risk of bleeding and infection at the site where the needle was inserted. Some mild pain can be expected after needle biopsy, though it is usually controlled with over-the-counter pain relievers. These factors are hampering the growth of market in the forecast period.

COVID-19 Impact Analysis

The COVID-19 pandemic has negatively impacted healthcare systems globally and majorly on the biopsy devices market. As per the article published in Cancer Connect 2020, doctors from Dana Farber Cancer Institute determined that during the COVID-19 pandemic, there was a 46% decrease in the diagnoses of the cancer. According to the Centers for Disease Control and Prevention (CDC) and many medical professional organizations recommended that cancer screening and other health prevention services, along with elective surgeries, be postponed unless the risks outweighed the benefits and secure the hospital infrastructure for the Application of COVID-19 patients. Thus, the COVID-19 pandemic has impacted the market.

Biopsy Devices Market Scope

Metrics

Details

Market CAGR

7.2%

Segments Covered

 By Body Part, By Application, By Biopsy Type, By End User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

Biopsy Devices Market Segment Analysis

The needle based segment is expected to grow at the fastest CAGR during the forecast period (2021-2028)  

Needle-based biopsy holds the leading share in the market due to the increasing demand for these instruments, for acquiring samples from soft tissues of internal organs, such as breasts, kidneys, and lungs.  A needle biopsy may be called for when a doctor feels an abnormal lump or when imaging scans show the presence of abnormalities in an area of the body. Lumps of the breast, thyroid or lymph nodes are often checked using a needle biopsy. Needle biopsy may be used to take tissue or fluid samples from muscles, bones, and other organs, such as the liver or lungs.

This is poised to contribute to the growth of the overall market during the forecast period.  According to the National Cancer Institute (NCI), in 2019, it was estimated that there were 61,780 cases of leukaemia and an estimated 22,840 people died due to leukemia in the United States 2019. Hence, the above benefits of needle-based biopsy guns coupled with the increasing demand for minimally invasive procedures will spur the segmental growth.

Biopsy Devices Market Geographical Analysis

The north American region holds the largest market share of the global biopsy devices market

North America is expected to dominate the market in the forecast period. The established market players in the region will continue to account for a substantial share in the market throughout the forecast period. The number of biopsies performed in the United States is also found to be the highest, helping in the expansion of the overall market. As per the American Cancer Society’s 2020 report, estimates that about 60,530 new cases of leukemia and approximately 23,100 deaths from leukemia are expected to occur in the United States in 2020. In USA, for patients not covered by health insurance, the cost of a skin biopsy ranges from $150 to $1,000. Furthermore, sophisticated healthcare infrastructure and the growing prevalence of infections will positively impact the biopsy devices growth in the forecast period.

Biopsy Devices Market Competitive Landscape

The biopsy devices market is highly competitive with presence of local as well as global companies.  Some of the key players which are contributing to the growth of the market include Becton, Dickinson and Company, Hologic Inc., Devicor Medical Products Inc., Cook Medical, Boston Scientific Corporation, Intact Medical Corporation, Gallini Medical, TSK Laboratory Europe BV, Argon Medical Devices, and Medtronic among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the biopsy devices market globally. For instance, In March 2021, Izi Medical Product launched fully automated Quick-Core-Auto Biopsy System.

Becton, Dickinson and Company

Overview: Becton, Dickinson and Company develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products for healthcare institutions, physicians, life science researchers, clinical laboratories, pharmaceutical industry, and the general public worldwide.  

Product Portfolio:

EnCor Ultra™ Breast Biopsy System: The EnCor Ultra Breast Biopsy System is the vacuum-assisted biopsy (VAB) system designed for use in ultrasound that is powerful enough to deliver the performance and small enough to give the convenience and efficiency.

Frequently Asked Questions

What is the Projected CAGR value of the Biopsy Devices Market?

Biopsy Devices Market is expected to grow at a CAGR of 7.2% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Biopsy Devices Market during 2022-2029

Which is the fastest growing region in the Biopsy Devices Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period 

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