Biopsy Devices Market 2018 to Boom $ 2.98 Billion Value by 2025 at a CAGR of 6.70%
A Global Study On Biopsy Devices Market With Industrial Insights And Market Analysis
A biopsy is a surgical procedure to remove the tissue from the body. It tissue sample is used for determination of signs and symptoms of cancer or inflammatory conditions. A biopsy is carried out for majority of organs in the body with specific biopsy devices. It is carried by surgeons, radiologists and interventional cardiologists to confirm the presence of disease. The different types of biopsy devices include skin biopsy, fine needle aspiration, excision and biopsy, shave biopsy, and vacuum-assisted biopsy among others.
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Factors such as increased cases of various cancer diseases such as prostate, breast, and lung cancers, technological development, increased adoption of integrated biopsy technologies, rise in global geriatric population, increase in the preference for minimally invasive procedures, and growing importance of disease screening for early treatment expected to propel the global biopsy devices market. However, a high cost of the biopsy devices, unfavorable reimbursement policies, stringent regulatory guidelines, and lack of skilled technicians might hamper the growth of prostate biopsy devices market.
The global Biopsy devices market is divided into following categories-
- 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 - Applications
• Gastrointestinal biopsy
• Lung
• Liver
• Breast biopsy
• Gynecological
• Kidney
• Others - Imaging technologies
• Ultrasound-guided biopsy
• Stereotactic guided biopsy
• CT scan
• MRI guided biopsy
• Others - End-users
Hospitals, clinics and diagnostic centers.
And lastly, on the basis of geographical regions, the global biopsy devices market have five major regions- Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. North American biopsy devices market is attributed to grow due to increase in R&D activities, increase in the prevalence of cancer disease, and availability of skilled professionals are fueling the prostate biopsy devices market and breast biopsy devices market. Europe holds a major share owing to increase in the prevalence of cancer, rise in the healthcare expenditure, and rise in adoption of minimally invasive procedures are anticipated to drive the needle-based biopsy devices market. Asia Pacific region is expected to exhibit significant growth due to increase in the geriatric population especially in Japan, China, and India, increase in the prevalence of various types of cancers, and rise in the medical tourism.
Some of the players in global biopsy devices market are Becton, Dickinson and Company (U.S.), Argon Medical Devices (U.S.), Boston Scientific Corporation (U.S.), Medtronic plc (Ireland), B. Braun Melsungen AG (Germany), Olympus Corporation (Japan), Hologic, Inc. (U.S.), SmartTarget Ltd. (U.K.), MDxHealth (Belgium), and Intact Medical Corporation (U.S.) to name a few. Some of the market innovations in breast biopsy devices market include Hologic launched Bravera a breast biopsy system used for real-time breast biopsy and verification in 2017.
Technological advancements of biopsy devices and increase in the demand for biopsy devices in disease screening for early treatment propel the biopsy devices market. Acquisitions and mergers, collaborations, product and patent approvals, and product launches are key strategies followed by the players for increasing market revenue growth. For instance, in 2014, Argon Medical Devices, Inc. acquired Promex Technologies, LLC for diversification of business segment into the soft-tissue biopsy devices.
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