Biopsy Devices Market Size To Reach USD 3.69 Billion By 2028 | Reports And Data

Reports And Data

Reports And Data

Increasing need for early cancer detection and growing demand for minimally invasive surgical procedures to bolster market growth

NEW YORK, NY, UNITED STATES, January 27, 2022 / -- The global biopsy devices market size is expected to reach USD 3.69 billion by 2028 at a CAGR of 7.1%, according to the latest report by Reports and Data. Rising prevalence of cancer, rise in government initiatives to raise cancer awareness worldwide, increasing need for early diagnosis and prevention of cancer, and growing adoption of minimally invasive surgeries are among the most important parameters expected to drive growth of the global biopsy devices market over the forecast period. Other significant factors driving steady growth of this market are rising prevalence of chronic and infectious diseases, growing adoption of cutting-edge imaging technologies including Magnetic Resonance Imaging (MRI) and Computed Tomography (CT), rapidly advancing global healthcare infrastructure, and increased spending on healthcare services.

Biopsies are medical procedures performed to examine the cause of a particular disease. This process involves removal of tissue from affected part of the body to examine it for disease. They are generally performed for detection of cancers, renal diseases, peptic ulcers, liver inflammation, and various other infections. Punch biopsy, needle biopsy, endoscopic biopsy, fine needle aspiration, and excisional and incisional biopsies are the most widely performed biopsy procedures. With technological advancements in biopsy systems and integration of advanced imaging techniques, such as MRI, CT, ultrasound, and x-ray, the global market has gained rapid traction over recent years. Moreover, increased awareness about benefits offered by biopsy over other invasive diagnostic procedures, such as smaller incisions, lesser pain and scarring, and quicker recovery, is yet another factor expected to propel the global market growth. However, risks associated with surgical biopsies including excessive bleeding, pain and infection in surgical site, and damage to surrounding organs or tissue are predicted to limit market growth to a significant extent.

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Market Overview:

The pharmaceutical and healthcare industries are among the fastest-growing sectors, particularly during the Covid-19 pandemic. The industry is vital for its life-saving medical innovation that improves people's health and quality of life in a country. Rapid technological advancements, continued growth in the biologics field, and an increase in medication manufacture and distribution all contribute to the pharma and healthcare industries' enormous growth. Rapid technological advancements include Artificial Intelligence (AI), blockchain, virtual reality, additive manufacturing, medical imaging and other Industry 4.0 technologies is revolutionizing pharma and healthcare industry. Pharmaceutical firms create jobs in technical assistance, scientific research, and production, as well as develop drugs to improve health, eradicate diseases, and extend life expectancy.

Competitive Landscape:

The global Biopsy Devices market research report provides a competitive strategy analysis portfolios to provide a better understanding of the competitive landscape. The report further discusses in depth the business strategies undertaken by key manufacturers on mergers and acquisitions, joint ventures, and collaborations. It sheds light on the companies holding largest market share in terms of revenue in the global Biopsy Devices market.

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Key Highlights of the Report:

• Based on product type, the needle-based biopsy instruments segment is expected to account for largest market share over the forecast period. This segment’s growth is principally attributed to growing usage of needle-based biopsy devices in cancer diagnosis, increasing adoption of minimally invasive diagnostic solutions, technological advancements in biopsy devices, and advantages of needle-based biopsies over other biopsy systems.

• North America is the leading regional market for biopsy devices in the global biopsy devices market with the highest revenue share in 2020. The regional market is predicted to display fastest growth in revenue market in the upcoming years owing to rising burden of chronic and infectious diseases, rising prevalence of cancer, rise in government initiatives to raise cancer awareness, and growing focus on early cancer screening. Rise in adoption of advanced biopsy products such as vacuum-assisted biopsy systems and the region’s avant-garde healthcare infrastructure are expected to further boost market growth in North America.

• Medtronic Plc, Argon Medical Devices, Inc., Becton Dickinson and Company, B. Braun Melsungen AG, Boston Scientific Corporation, Fujifilm Holdings Corp., Cardinal Health, Inc., Danaher Corporation (Leica Microsystem), Hologic, Inc., Devicor Medical Products, Inc., Cook Medical, Inc., Olympus Corporation, INRAD, Inc., and C. R. Bard, Inc. are the key market competitors.

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For the purpose of this report, the global biopsy devices market is segmented based on product type, imaging technique, application, end-use, and region:

By Product Type (Revenue, USD Billion; 2018-2028)

• Needle-based Biopsy Instruments
o Core Biopsy Devices
 Core Biopsy Guns
 Core Biopsy Needles
o Vacuum-assisted Biopsy Devices
 Vacuum-assisted Biopsy Systems
 Vacuum-assisted Biopsy Needles
o Aspiration BiopsyNeedles
• Manual and Robotic Biopsy Guidance Systems
• Biopsy Forceps
• Procedure Trays
• Localization Wires
• Others (brushes, punches, curettes, etc.)

By Imaging Technique (Revenue, USD Billion; 2018-2028)

• Ultrasound-guided Biopsy
• Stereotactic-guided Biopsy
• MRI-guided Biopsy
• CT Scan
• Others

By Application (Revenue, USD Billion; 2018-2028)

• Lung biopsy
• Liver biopsy
• Kidney biopsy
• Gastroenterological biopsy
• Gynecological biopsy
• Breast biopsy
• Prostate biopsy
• Others

By End-use (Revenue, USD Billion; 2018-2028)

• Hospitals
• Diagnostic and Imaging Centers
• Academic & Research Institutes
• Others

Regional analysis covers:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

In addition to corporate strategy, Biopsy Devices market throws light on different properties to curb the progress of fuel or industry. The focus is more on applicable sales strategies to increase the company’s productivity to achieve higher economic performance. Research reports use effective graphical presentation techniques such as tables, charts, graphs, diagrams, and info graphics.

Important Coverage in the Biopsy Devices Market Report:

• Detailed analysis of Global Biopsy Devices Market by a thorough assessment of the technology, product type, application, and other key segments of the report
• Investigative study of the market dynamics including drivers, opportunities, restraints, and limitations that can influence the market growth
• Comprehensive analysis of the regions of the Biopsy Devices industry and their futuristic growth outlook
• Competitive landscape benchmarking with key coverage of company profiles, product portfolio, and business expansion strategies

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Finally, all aspects of the Biopsy Devices market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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