Global Biopsy Devices Market Segmentation, By Product (Needle-Based Biopsy Instruments, Procedure Trays, Localization Wires, Other Products), Guidance Technique (Ultrasound-Guided Biopsy, Stereotactic-Guided Biopsy, MRI-Guided Biopsy, Other Guidance Techniques), Application (Breast Biopsy, Lung Biopsy, Colorectal Biopsy, Prostate Biopsy, Other Applications), End User (Hospitals, Academic and Research Institutes, Diagnostic and Imaging Centers) – Industry Trends and Forecast to 2031.
Biopsy Devices Market Analysis
Over, the years, the burden of various types of cancer has significantly increased. Cancer accounted for nearly 10 million deaths across the globe, in 2020. Surging cases of various types of cancers globally is further resulting in increased demand for effective treatment and rising awareness regarding the availability of diagnostic and screening procedures. Owing to the extensive applications of biopsy devices, the demand for these devices will substantially growth over the forecasted period.
Biopsy Devices Market Size
Global biopsy devices market size was valued at USD 4.23 billion in 2023 and is projected to reach USD 7.42 billion by 2031, with a CAGR of 7.3% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Biopsy Devices Market Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa
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Key Market Players
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BD, (U.S.), Cook (U.S.), Devicor Medical Products, Inc., (U.S), Leica Biosystems Nussloch GmbH (Germany), Argon Medical Devices Inc., (U.S.), B. Braun Melsungen AG (Germany), Cardinal Health (U.S.), Olympus Corporation (Japan), Boston Scientific Corporation (U.S.), FUJIFILM Holdings Corporation (Japan), INRAD, Inc. (U.S.), and Medtronic (Ireland)
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Market Opportunities
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Biopsy Devices Market Definition
Biopsy is a medical procedure that evaluates and removes cancerous tissue from the body. When a patient is suspected of having cancer, the test is utilized to obtain tissue samples for illness diagnosis. Cancer diagnosis includes skin biopsy, vacuum biopsy, incision and excision biopsy, needle biopsy, fine needle aspiration, and shave biopsy.
Biopsy Devices Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Increased Demand for Cancer Treatment
The growing burden of prevalence of various cancer such as breast cancer, lung cancer and other types of cancer are expected to accelerate the overall growth of the market.
- Surging Advancements and Innovation
Rising patient awareness on cancer coupled with improvement in biopsy procedures are also projected to cushion the growth of the market. Moreover, the increased research and development activities in the field of biopsy devices are estimated to generate lucrative opportunities for the market. The advent of advanced products such as Vacora and Finesse Ultra Breast Biopsy System and Celero VAB device will further expand the biopsy devices market's growth rate in the future.
Furthermore, the growth determinants such as demand for minimally invasive biopsy procedures along with the expanding healthcare sector are also expected to fuel market growth. Moreover, the soaring demand for less invasive biopsy procedures also cushions the market’s growth within the forecasted period.
Restraints/Challenges
- Stringent Regulations
On the other hand, the stringent regulation and standards for the use of biopsy is expected to obstruct market growth.
Also, the high cost of biopsy devices restrict the market’s growth. Moreover, factors such as clinical issues in core needle biopsy, increase complaints to breast cancer screening procedure are projected to challenge the biopsy devices market in the forecast period of 2024-2031.
This biopsy devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the biopsy devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Post Covid-19 Impact on Biopsy Devices Market
Healthcare sector was adversely impacted by the emergence of COVID-19. The biopsy devices market does not stand back as it was also critically affected. To curb the COVID-19 pandemic outbreak, the government imposed lockdown and social distancing restrictions which resulted various challenges such as the halt of various manufacturing operations, supply chain disruptions, stifling business growth, technology treatment cancellations and even affected the overall production and sales, limiting the industry's expansion. Moreover, the healthcare sector prioritized the significance of their daily surgical operations and explore non-surgical therapeutic options wherever possible. The surge in non-surgical methods and the avoidance of surgical operations harmed market growth.
However, as there is gradual slowdown in disease outbreak, the restrictions and measures are likely to relax which will help market to witness a growth at substantial pace.
Biopsy Devices Market Scope
The biopsy devices market is segmented on the basis of product, guidance technique, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Needle-Based Biopsy Instruments
- Core Biopsy Devices
- Aspiration Biopsy Needles
- Vacuum-Assisted Biopsy Devices
- Vacuum-Assisted Biopsy Systems
- Vacuum-Assisted Biopsy Needles
- Procedure Trays
- Localization Wires
- Other Products
- Vacuum-assisted biopsy devices are sub-segmented into.
Guidance Technique
- Ultrasound-Guided Biopsy
- Stereotactic-Guided Biopsy
- MRI-Guided Biopsy
- Other Guidance Techniques
Application
- Breast Biopsy
- Lung Biopsy
- Colorectal Biopsy
- Prostate Biopsy
- Other Applications
End User
- Hospitals
- Academic and Research Institutes
- Diagnostic and Imaging Centres
Biopsy Devices Market Regional Analysis
The biopsy devices market is analyzed and market size insights and trends are provided by country, product, guidance technique, application and end user as referenced above.
The countries covered in the biopsy devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the biopsy devices market because of the presence of leading industry players, catering to increasing product demand, increased per capita healthcare expenditure along with growing adoption of new and advanced diagnostic techniques are leading to the high demand of biopsy devices within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2024 to 2031 due to the high geriatric population, surging prevalence of cancer in countries such of India, China, and Australia along with the developing healthcare infrastructure within the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Biopsy Devices Market Share Analysis
The biopsy devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to biopsy devices market.
Biopsy Devices Market Leaders Operating in the Market Are:
- BD, (U.S.)
- Cook (U.S.)
- Devicor Medical Products, Inc., (U.S)
- Leica Biosystems Nussloch GmbH (Germany)
- Argon Medical Devices Inc., (U.S.)
- B. Braun Melsungen AG (Germany)
- Cardinal Health (U.S.)
- Olympus Corporation (Japan)
- Boston Scientific Corporation (U.S.)
- FUJIFILM Holdings Corporation (Japan)
- INRAD, Inc. (U.S.)
- Medtronic (Ireland)
Latest Developments in Biopsy Devices Market
- In June 2021, Biocept, Inc., a leading provider of molecular diagnostic assays, products, and services, announced a partnership with Quest Diagnostics (NYSE: DGX) to offer laboratory testing services for its Target SelectorTM NGS-based liquid biopsy targeted lung cancer panel to Quest patients. Quest Diagnostics is the world's largest provider of diagnostic information services, which includes sophisticated diagnostics
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