Biopsy Devices Market Size and Growth Rate:

“The Global Biopsy Devices Market is expected to reach US$ 2,610.2 Mn by 2025 owing to growth in R&D for the development of newer treatments”

Biopsy Devices Market Growth Drivers and Restraints:

The global biopsy devices market is expected to reach US$ 2,610.2 Mn by 2025. Biopsy is medical test performed by surgeon; it involves extraction of sample cells or tissues for examination to determine the presence or extent of disease. The global biopsy devices market is propelled by raising incidence of cancer and inflammatory conditions (Crohn’s disease and ulcerative colitis) worldwide. According to World Health Organization 9.8 million deaths occurred due to cancer in the year 2018. Additionally, life style adopted by people such as lack of physical exercise, increased use of alcohol consumption, and low fruit and vegetable intake are also leading to prevalence of cancer. Moreover, rising consciousness among the government, increasing research and development activities, increasing geriatric population, increasing preference for minimally invasive procedures, and rising awareness about the chronic diseases are also streaming the growth of global biopsy devices market. The applicability of these devices in early detection of cancers has led to the growth of global biopsy devices market. On the flip side, unfavorable reimbursement policies, high cost of the devices, and stringent regulatory guidelines are blocking the growth of global biopsy devices market.

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Lung Cancer Dominate the Global Biopsy Devices Market

Based on the application, global biopsy devices market is segmented into gastrointestinal biopsy, lung, liver, breast biopsy, gynecological, kidney, and others. Lung cancer dominated the global biopsy devices market owing to increasing prevalence of lung cancer. According to World Health Organization, 2.09 million cases of cancer were accounted in 2018. Smoking is the major reason for the growth of lung cancer worldwide.

North America Leads the Global Biopsy Devices Market

PBI’s global biopsy devices market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, North America dominated the global biopsy devices market through 2014-2018 and expected to dominate over 2019-2025 owing to increase in prevalence of cancer over there, increase in research and development of newer devices, and improved healthcare facilities. According to a report published by National Cancer Institute, an estimated 1,735,350 cases of cancer occurred in 2018 in United States. In 2017, approximately, 15,270 children and adolescents ages 0 to 10 years were diagnosed with cancer and 1,790 died. Furthermore, increasing disposable income, improved healthcare infrastructure, and presence of key market players are streaming the growth of biopsy devices market in North American Region. Europe Biopsy Devices market accounted for a significant share in global biopsy devices market due to increasing prevalence of cancer, it accounts for one fourth of global total cancer cases with 3.7 million new patients per year. Moreover, development in healthcare infrastructure, and increase in disposable income in countries such as UK, Germany etc. are also streaming the market growth in Europe region. Asia Pacific biopsy devices market expected to grow significantly rate due to their emerging economies, increase in the development of healthcare infrastructure, and technological advancements. Moreover, increasing prevalence of cancer in APAC region is also streaming the growth of biopsy devices market. For instance, the age-standardized prevalence of cancer in India is estimated to be 97 per 100,000 persons with greater prevalence in urban areas.
Launch of newer treatment therapies, and strategic alliances are the key strategies adopted by market players

Global biopsy devices market further reveals that the key player’s increasingly adopting strategies such as launch of newer products, and long term alliance to improve market revenue share and gaining significant geographic presence across the region.

For instance, in August 2017, Hologic launched product named “Bravera” which is a breast biopsy system used for real-time breast biopsy and verification.
Moreover, in January 2019, IZI Medical Products, LLC acquired select soft tissue biopsy and breast localization needle assets from Cook Medical.

Key player’s profiles in the report are Becton, Dickinson and Company (USA), Argon Medical Devices (USA), Cardinal Health, Inc. (USA), Boston Scientific Corporation (USA), Medtronic plc (Ireland), B. Braun Melsungen AG (Germany), Olympus Corporation (Japan), Hologic, Inc. (USA), SmartTarget Ltd. (UK), Cook Medical(USA), MDxHealth (Belgium), and Intact Medical Corporation (USA), IZI Medical Products (USA).

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Detailed Segmentation of Biopsy Devices Market:

By Device Type
• Core Biopsy Devices
o Core biopsy needles
o Core biopsy guns
• Needle-based biopsy devices
• Vacuum-assisted biopsy devices
o Needles
o Guns
• Aspiration biopsy needles
• Others

By Application
• Gastrointestinal biopsy
• Lung
• Liver
• Breast biopsy
• Gynecological
• Kidney
• Others

By Imaging Technologies
• Ultrasound-guided biopsy
• Stereotactic guided biopsy
• CT scan
• MRI guided biopsy
• Others

By End Users
• Hospitals
• Clinics
• Diagnostic Centers

Geography

o North America
o Europe
o Asia-Pacific
o Latin America
o Middle East and Africa (MEA)
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