Global Biopsy Devices Market, 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 2029
Market Analysis and Size
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.
- Global Biopsy Devices Market was valued at USD 3.67 billion in 2021 and is expected to reach USD 3.96 billion by 2029, registering a CAGR of 7.3% during the forecast period of 2022-2029. The “Breast biopsy” accounts for the largest application segment in the biopsy devices market within the forecasted period owing to the surging prevalence of breast cancer and growth in awareness about the disease. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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.
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Billion, Volumes in Units, Pricing in USD
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)
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
Market Players Covered
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)
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:
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.
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 2022-2029.
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.
- 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.
Global 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.
- Needle-Based Biopsy Instruments
- Procedure Trays
- Localization Wires
- Other Products
On the basis of product, the biopsy devices market is segmented into needle-based biopsy instruments, procedure trays, localization wires and other products. The needle-based biopsy is sub-segmented into core biopsy devices, aspiration biopsy needles and vacuum-assisted biopsy devices. Core biopsy devices are further sub-segmented into core biopsy guns and core biopsy needles. Vacuum-assisted biopsy devices are sub-segmented into vacuum-assisted biopsy systems and vacuum-assisted biopsy needles.
- Ultrasound-Guided Biopsy
- Stereotactic-Guided Biopsy
- MRI-Guided Biopsy
- Other Guidance Techniques
On the basis of guidance technique, the biopsy devices market is segmented into ultrasound-guided biopsy, stereotactic-guided biopsy, MRI -guided biopsy and other guidance techniques.
- Breast Biopsy
- Lung Biopsy
- Colorectal Biopsy
- Prostate Biopsy
- Other Applications
On the basis of application, the biopsy devices market is segmented into breast biopsy, lung biopsy, colorectal biopsy, prostate biopsy and other applications. Breast biopsy registers the largest share of the market due to surging prevalence of breast cancer and growth in awareness about the disease.
- Academic and Research Institutes
- Diagnostic and Imaging Centres
On the basis of end user, the biopsy devices market is bifurcated into hospitals, academic and research institutes and diagnostic and imaging centers.
Biopsy Devices Market Regional Analysis/Insights
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 2022 to 2029 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.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The biopsy devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for biopsy devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the biopsy devices market. The data is available for historic period 2010-2020.
Competitive Landscape and 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.
Some of the major players operating in the biopsy devices 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.), and Medtronic (Ireland) among others.
Research Methodology : Global Biopsy Devices Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Customization Available : Global Biopsy Devices Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.