Biopsy Devices Market

Biopsy Devices Market generated a revenue of USD 1,430 Million in 2019 and is forecast to witness a 6.8% CAGR during forecast period, due to the growing demand for minimally invasive biopsy surgeries.

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Key Drivers

The major factors fueling the biopsy devices market includes the increasing incidences of cancer, strategic initiatives enforced by the government, and rising awareness about breast cancer treatment. According to the Annals of Translation Medicines report, nearly more than 1.6 million people died in 2012 because of the lung cancer which is expected to grow by 3 million until 2035, encouraging healthcare institutions to adopt biopsy devices worldwide. Moreover, the ongoing developments in biopsy procedures, increasing adoption of advanced technologies which include Vacuum assisted guns, 3D optical biopsies and MRI-targeted biopsies to distinguish healthy cells from tumorous ones strong investment by leading players on research and development and rising Government’s expenditure on the healthcare sector, are projected to supplement the Biopsy Devices Market share. According to the Economic Times report, the healthcare expenditure by the Indian Government increased from INR 2.73 lakh crore in 2019-20 to 4.72 lakh crore in 2021-22, exhibiting a surge of 73%, which will boost the Biopsy Devices Market Growth in the coming years. Moreover, in October 2020 GE Healthcare launched its latest Serena Bright biopsy technology in the U.S., which is primarily designed to offer advanced breast cancer diagnosis and treatment. However, the strict norm associated with the use of biopsy devices might obstruct the market growth over the forecast period.

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Product Insights

Needle-based biopsy guns are expected to lead the market over the forecast period, due to the emerging need for faster procurement of cell samples for biopsy. With the growing incidences of cancers like breast cancer, the need for needle-based biopsy guns to acquire samples from soft tissues of breasts, kidneys, and lungs has increased, driving the market growth. As per the Globocan 2020 report, nearly 2,261,419, individuals had breast cancer in 2020 and the mortality was estimated to be 684,996 across the world. Furthermore, according to the same source, breast cancer is the most common among all the cancer types. In addition, the ongoing technological advancements with the growing emphasis on research and development to introduce advanced devices including smart biopsy devices and Aspiration biopsy syringe gun by INRAD Inc. will pave the way for market.

The growing demand for vacuum-assisted devices to conduct minimally invasive insertion with higher efficiency and precision is forecast to pave the way for vacuum-assisted devices over the forecast years.

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Regional Insights

North America is forecast to lead the market over the upcoming years, due to the presence of leading market players like Cook Medical, Beckton Dickinson, Danaher, Hologic, and Boston Scientific. Growing adoption of technologically advanced devices like vacuum-assisted biopsy systems, increasing incidences of infections and surging demand for disposable devices will expand the market growth.

Asia Pacific is projected to hold a higher share over the upcoming years, due to the well-developed healthcare infrastructure across the developing countries. The high unmet patient needs, and rising incidence of cancer have augmented the need for biopsy devices, driving the regional growth. The World Health Organization projected that the cancer deaths across Asia will reach 6.4 million by 2030, from 4 million in 2007. In addition, the British Medical Journal stated that Asia has the highest population of stomach and liver cancers, with nearly 58.0% of all cancer cases across the world by 2020 and is expected to reach 65.0% by 2050.

Top Market Players

The report also profiles the key players operating in the market such as Argon Medical Devices, Becton, Dickinson and Company, Boston Scientific, Cook Medical, Gallini Medical Devices, Leica Biosystems, Stryker, TSK Laboratory, and C. R. Bard.

Key Developments:

• • In 2021, IZI Medical Products LLC, a leading medical devices developer used in interventional radiology and interventional oncology treatments launched The Quick-Core Auto, which is a lightweight and completely automatic biopsy equipment that improves the reliability, precision, and quality of IZI’s Quick-Core semi-automatic biopsy system.
  • In 2020, Buckinghamshire Healthcare NHS Trust in London and NeoDynamics AB, a leading MedTech business dedicated to improving breast cancer diagnosis entered into a partnership with an intent to expand its product portfolio.

The global biopsy devices market is segmented on the basis of device type, application, and geography:

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Key questions this research would answer:

1. Is the global market of biopsy devices growing? How long will it continue to grow and at what rate?
2. What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
3. What are the regional revenue and forecast breakdowns? What are the regional hotspots for growth in the biopsy device market?
4. What are the various application areas and how they are poised to grow?

Global Biopsy Device Market by Device Type

• • Needle-based Biopsy Instruments
    • Core Biopsy Devices
    • Aspiration Biopsy Needles
    • Vacuum-assisted Biopsy Devices
  • Procedure Trays
  • Localization Wires
  • Other Products

Global Biopsy Device Market by Application

• •  Prostate
  •  Liver
  •  Thyroid
  •  Lung
  •  Kidney
  •  Others

Global Biopsy Device Market by Region

• • North America Global Biopsy Devices Market (Option 1: As a part of the free 25% customization)
    • By Device Type
    • By Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Global Biopsy Devices Market (Option 2: As a part of the free 25% customization)
    • By Device Type
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Global Biopsy Devices Market (Option 3: As a part of the free 25% customization)
    • By Device Type
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Global Biopsy Devices Market (Option 4: As a part of the free 25% customization)
    • By Device Type
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Biopsy Device Market Competitive Landscape

• •  Major Players and their Key Strategies
  •  New product launches
  •  Mergers and acquisitions
  •  Collaborations, partnerships, agreements and joint venture