The biopsy devices market is projected to grow at a CAGR of 6.77% during the forecast period to reach a total market size of US$2.724 billion in 2026 from US$1.722 billion in 2019.
Biopsy devices are numerous types of equipment used in the surgical removal of tissues from an organ. Surgeons, radiologists, cardiologists, and other medical professionals use them to determine the existence and degree of malignant and inflammatory illnesses. Some of the most often used biopsy instruments are aspiration needles, forceps, and localization wires. These instruments are utilized in MRI-guided, needle-based, core, and vacuum-assisted biopsies of the liver, lungs, kidneys, and breasts, among other body regions. They're used in a wide range of healthcare settings, including medical clinics, diagnostic centers, and hospitals.
One of the main reasons driving the market's growth is the growing incidence of chronic medical conditions, particularly breast cancer. Furthermore, as consumer knowledge of the availability of diagnostic and screening methods for chronic illnesses grows, demand for integrated technologies like stereotactic-guided biopsies grows. Patients all across the world are increasingly opting for minimally invasive biopsy treatments. Various technical advances, including the introduction of vacuum-assisted guns and smart biopsy systems that aid in the differentiation of healthy cells from tumorous cells, are also helping to drive market expansion. Other factors anticipated to propel the market in the future years include the constantly expanding geriatric population, rising healthcare expenditures, and substantial research and development efforts.
The biopsy is one of the most common methods for diagnosing cancer diseases, and it is commonly employed in the diagnosis of breast, skin, and prostate cancer. The International Agency for Research on Cancer estimates that there were nearly 19.3 million new cancer cases in 2020, globally. The increasing number of cancer cases is one of the major drivers of the market.
The market is seeing a substantial increase in demand for minimally invasive biopsy treatments. Various technologies and products, including biopsy guidance systems, needle-based biopsy guns, and vacuum-assisted devices, are expected to expand rapidly throughout the projected period.
For soft tissue biopsies, Izi Medical Products introduced the Quick-Core Auto Biopsy System in March 2021. The Quick-Core Auto is a small, completely automated biopsy equipment that improves on the company's prior semi-automatic method. For tissue samples, Izi's Quick-Core Auto offers three programmed firing modes: automatic, delay, and zero-throw.
Hologic, Inc., a medical technology business focused on improving women's health, in January 2021, completed the $64 million purchase of SOMATEX Medical Solutions GmbH, a pioneer in biopsy site markers and localization technologies. Hologic will also strengthen its sales presence in Europe as a result of the purchase, by extending its direct channel in Germany as well as its network of regional and worldwide distributor partners.
Furthermore, rising awareness of breast cancer treatment and diagnosis will promote growth in the market size for biopsy equipment in the future years. Many nations have programs to detect breast cancer in its early stages. As a result, such measures will hasten the adoption of biopsy instruments, resulting in a favorable influence on growth. For instance, the US Centers for Disease Control and Prevention, Division of Cancer Prevention and Control, through its three national public health campaigns namely Screen for Life: National Colorectal Cancer Action Campaign, Inside Knowledge About Gynecologic Cancer Campaign, and Bring your Brave, educates people about the symptoms of cancer and how to reduce your risk.
The increasing geriatric population is further expected to increase the market size. As reported by US National Cancer Institute, the major risk factor for cancer in general, as well as for many specific cancer types, is growing older. Overall, cancer incidence rates rise gradually with age, from fewer than 25 cases per 100,000 people in age groups under 20 to around 350 cases per 100,000 people in age groups 45–49, and more than 1,000 cases per 100,000 people in age groups 60 and beyond. Breast cancer is diagnosed at a median age of 62 years, colorectal cancer at 67 years, lung cancer at 71 years, and prostate cancer at 66 years.
Geographically, North America was the market's largest revenue generator. It will continue to account for a significant part of the market during the projection period due to established industry players based in the area. The regional market is projected to benefit from high market penetration rates of technologically sophisticated devices such as vacuum-assisted biopsy systems and skyrocketing demand for disposable devices. There are several government-sponsored health initiatives focused on encouraging people to get frequent cancer screenings. The Aisa Pacific market is expected to develop due to rapidly improving healthcare infrastructure in the emerging nations, as well as the prevalence of significant unmet patient requirements and a rising occurrence of cancer.
|Market size value in 2019||US$1.722 billion|
|Market size value in 2026||US$2.724 billion|
|Growth Rate||CAGR of 6.77% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Product Type, Application, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Becton, Dickinson and Company, Argon Medical Devices, Inc., C. R. Bard, Inc., Cardinal Health, Inc., Devicor Medical Products, Inc. (Mammotome), B. Braun Melsungen AG, Olympus Corporation, Fujifilm Holdings Corporation, Inrad, Inc., Cook Group Incorporated, Boston Scientific Corporation|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the biopsy devices market size by 2026?
A1. The biopsy devices market is projected to reach a total market size of US$2.724 billion by 2026.
Q2. What is the size of the biopsy devices market?
A2. Biopsy Devices Market was valued at US$1.722 billion in 2019.
Q3. What are the growth prospects for the biopsy devices market?
A3. The global biopsy devices market is projected to grow at a CAGR of 6.77% during the forecast period.
Q4. Which region holds the largest market share in the biopsy devices market?
A4. Geographically, North America holds the largest share in the biopsy devices market due to established industry players based in the area.
Q5. What factors are anticipated to drive the biopsy devices market growth?
A5. One of the main reasons driving the biopsy devices market's growth is the growing incidence of chronic medical conditions, particularly breast cancer.
Becton, Dickinson and Company
Argon Medical Devices, Inc.
C. R. Bard, Inc.
Devicor Medical Products, Inc. (Mammotome)
B. Braun Melsungen AG
Fujifilm Holdings Corporation
Cook Group Incorporated
Boston Scientific Corporation
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