Biopsy Devices Market Research Revealing the Growth Rate and Business Opportunities till 2027

The recent study of reports and data suggests that the Biopsy Devices Market is expected to attain a market value of USD 1.51 Billion by 2027 the end the forecast frame registering a CAGR of 10.8%. Breast Biopsy refers to a diagnostic procedure to determine whether a small sample removed from the breast tissue is cancerous. It is regarded as the most effective methods for cancer diagnosis. It is found that about 70-80% of the biopsies are negative of cancer, but may diagnose conditions that are predispose to mammary carcinoma. Breast biopsy is recommended when a person is facing symptoms like a breast lump, sore breast, breast dimpling, peel appearance to breast and nipple discharge etc. The invasive surgical methods for breast biopsy has been found to be disadvantageous as it is painful and the patient will have to bear the psychological stress of false positive referrals.

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The increasing vulnerability of women to mammary carcinoma in all the economies, along with the awareness drives and screenings conducted in favor of women have propelled the demand side of the breast biopsy market. The extensive and exhaustive research environment acts as an impetus to the market which has aided in evolving more accurate and minimally invasive methods for the early diagnosis of mammary carcinoma. The governments have also worked towards building a continuous and comprehensive environment for cancer research which has fueled the growth of these diagnostic devices. Also favorable reimbursements in this regard has improved the state of this market drastically. The growth of these diagnostic devices are impeded by the prevalence of side effects and infections after the biopsy. Stringent regulations by the USFDA and other notifying authorities along with high cost of these services have worked against the unrestricted growth of the market.

Competitive Outlook:

This section of the report performs a thorough investigation into the intensely competitive landscape of the global Biopsy Devices market, highlighting the leading manufacturers, strategic initiatives adopted by them, the existing growth prospects, market positions, and market shares held by each participant.  The report further emphasizes the developmental strategies undertaken by these companies, including product innovation, new product launches, and technological upgradation. Moreover, the report studies the notable business events observed in this industry, such as mergers & acquisitions, joint ventures, partnerships, corporate deals, and brand promotions.

Leading companies operating in the market and profiled in the report include:

·       Becton, Dickinson and Company

·       C.R. Bard, Inc

·       Devicor Medical Products Inc

·       Hologic Inc

·       Argon Medical Devices

·       Cook Medical Incorporated

·       Encapsule Medical Devices LLC

·       Planmed OY

·       Ethicon Endo Surgery (Johnson and Johnson)

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Further Key Finding from the report

  • The mammary carcinoma is found to be the most common invasive cancer among women and affects women in both developed and developing countries. Hence the target consumers for breast biopsy is women above the age of 40. The growing awareness of breast cancer has fueled the demand for this market
  • The American Cancer society has confirmed that there has been a decline in deaths caused by breast cancer reason being that cancer have been detected earlier through mammography, making it the most effective screening method
  • Thermography was popularized as it was a method to produce infrared images of head and blood flow near the surface of the body, but it was found that it lacked the ability to detect cancer at the early stage
  • Advancements and innovations are carried out in the product segment. Stryker, an innovator in the given field have brought in PreciseCore needles which have been used for improved precision and minimal tissue damage.
  • Asia-Pacific regional segment of the breast biopsy market is expected to remain highest growing segment during 2019-2026, at a CAGR of 12.1%; owing it to increase in medical awareness and untapped opportunities in India and China due to rising pool of vulnerable geriatric women with awareness about mammary carcinoma. However, conventional methods like surgery and needle rule the market.
  • Currently the vacuum assisted breast biopsy has dominated over the market and is the fastest growing segment as it overcomes the drawbacks of the conventional needle based methods which is inherently characterized with inaccuracy. It is growing at a CAGR of 10.9%.
  • Key players involve themselves in the innovative product launch, market expansions and strategic acquisitions to capitalize their market share
  • As far as end users are concerned, hospitals are the second largest market share holder. This can be attributed to the availability of highly skilled personnel and favorable reimbursements
  • Ultra sound breast biopsy is considered to be the fastest growing as far as guidance of imaging is concerned. This is due to the accuracy in imaging and the lack of discomfort occurred during biopsy being non-invasive

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Segments covered in the report:

This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the Breast Biopsy market on the basis of Type, product, guidance, end use and regional outlook

Type (Revenue, USD Million; 2017–2027)

  • Needle Breast Biopsy
    • Vacuum Assisted Surgery
    • Core needle Biopsy
    • Fine Needle Aspiration Biopsy
  • Open Surgical Breast Biopsy
    • Incisional
    • Excisional

Product (Revenue, USD Million; 2017–2027)

  • Biopsy Needles
  • Biopsy Tables
  • Guidance Systems
  • Localization Wires
  • Punches
  • Markers
  • Sutures

Guidance Type (Revenue, USD Million; 2017–2027)

  • Mammography
  • Ultra sound
  • MRI
  • CT scan
  • Others

End Use (Revenue, USD Million; 2017–2027)

  • Diagnostic Clinic
  • Hospitals
  • Others

Regional Outlook (Revenue in USD Million; 2017–2027)

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

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Key Benefits of Buying the Global Biopsy Devices Report:

·       Comprehensive analysis of the changing competitive landscape

·       Assists in decision making processes for the businesses along with detailed strategic planning methodologies

·       The report offers an 8-year forecast and assessment of the Global Biopsy Devices Market

·       Helps in understanding the key product segments and their estimated growth rate

·       In-depth analysis of market drivers, restraints, trends, and opportunities

·       Comprehensive regional analysis of the Global Biopsy Devices Market

·       Extensive profiling of the key stakeholders of the business sphere

·       Detailed analysis of the factors influencing the growth of the Global Biopsy Devices Market

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