PUBLISHER: BIS Research | PRODUCT CODE: 1373572
PUBLISHER: BIS Research | PRODUCT CODE: 1373572
“Global Biopsy Devices Market to Reach $11,869.4 Million by 2027.”
KEY MARKET STATISTICS | |
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Forecast Period | 2023 - 2027 |
2023 Evaluation | $6,751.7 Million |
2027 Forecast | $11,869.4 Million |
CAGR | 15.15% |
The global biopsy devices market is projected to reach $11,869.4 million by 2027 from $5,852.8 million in 2022, growing at a CAGR of 15.15% during the forecast period 2023-2027. The key factors driving the growth of the global biopsy devices market include an upsurge in the incidence of cancer leading to growth in the adoption of biopsy devices, diverse applications of biopsy procedures facilitating the growth of the biopsy devices market, rising government initiatives for early cancer detection driving the utilization of biopsy devices.
Biopsy devices are medical instruments used to collect tissue samples from the body. They are used to diagnose a variety of conditions, including cancer, infections, and inflammatory diseases. Biopsy devices can be used to collect tissue samples from a variety of sites, including the skin, breasts, lungs, liver, and kidneys. Biopsy devices are an essential tool for diagnosing and monitoring a variety of medical conditions. By helping to improve the accuracy, safety, and convenience of biopsies, new biopsy devices are helping to improve the lives of patients around the world.
Shift from Conventional Biopsies to Minimally Invasive Biopsies: The global biopsy devices market has been witnessing a significant shift toward the use of needle-based biopsy instruments, marking a transformative shift in diagnostic and monitoring practices. This trend is driven by several factors that collectively redefine the landscape of medical biopsies. For instance, needle-based biopsy offers a minimally invasive surgical alternative to traditional surgical biopsies, reducing patient discomfort and accelerating recovery times. Furthermore, needle-based biopsies are versatile, extending beyond cancer diagnosis to encompass liver diseases, infectious diseases, autoimmune disorders, and therapeutic monitoring, which eventually helps in early diagnosis and treatment of other chronic ailments.
Improved accuracy and precision of diagnosis: Biopsy devices have become increasingly accurate and precise over time, leading to earlier and more accurate diagnosis of diseases such as cancer.
Improved patient outcomes: By improving the accuracy, precision, and accessibility of biopsy procedures, biopsy devices have helped to improve patient outcomes for a wide range of diseases.
Integration of Advanced Imaging Technologies with Biopsy: The integration of advanced imaging technologies with biopsies represents a pivotal trend in the global biopsy devices market, signaling a paradigm shift in diagnostic and treatment approaches. This trend is characterized by the synergistic use of advanced imaging technologies with biopsy to enhance precision, reduce invasiveness, and improve patient recovery outcomes.
Research and Development: Continued growth in the biopsy market has encouraged further research and development in biopsy devices. This might include exploring new technologies and delivery methods to continually improve patient diagnosis, treatment, and recovery outcomes.
The COVID-19 pandemic led to a decrease in both cancer cases and biopsy procedures, and this decline could be attributed to several factors. The pandemic necessitated the postponement of various medical services, including cancer screening and diagnosis, due to the restrictions put in place to combat the epidemic. Consequently, there was a reduction in the number of cancer diagnostic tests conducted. Moreover, the pandemic resulted in significant drops in physician E&M visits, the administration of cancer screening tests, and cancer screening rates, including those for low-dose CT scans employed in the detection of lung cancer. Additionally, in specific regions, the pandemic caused a reduction in cancer resection surgeries and small biopsy diagnostic procedures, potentially leading to delayed diagnoses in various medical disciplines.
Tissue Biopsy: A tissue biopsy is a medical procedure in which a small sample of tissue is removed from the patient's body for examination under a microscope. Biopsies are performed for a variety of reasons, including to diagnose cancer, other diseases, or infections. They can also be used to monitor the progression of a disease or to assess the response to treatment.
Liquid Biopsy: A liquid biopsy is a non-invasive test that can be used to detect cancer cells and DNA in the blood. It is a newer type of biopsy that is still under development, but it has the potential to revolutionize the way cancer is diagnosed and monitored.
Based on biopsy type, the biopsy devices market is led by liquid biopsy, which held a 53.38% share in 2022.
Based on guidance technique, the X-ray-guided biopsy segment accounted for the largest share of 41.00% in the global biopsy devices market in 2022, and it is expected to grow at a CAGR of 4.68% during the forecast period 2023-2027.
All the regions and countries include a detailed analysis based on product type, biopsy type, and anatomy for tissue biopsy. At the same time, for liquid biopsy, the region segmentation includes analysis based on product type, biopsy type, disease type, and anatomy.
The U.K. dominated the EMEA biopsy devices market in 2022. The increasing cancer incidence, enhancements in healthcare infrastructure, and the adoption of digital health, resulting in a growing demand for biopsy devices.
Upsurge in Incidence of Cancer Leading to Growth in the Adoption of Biopsy Devices: The global biopsy devices market is all set to witness significant expansion, primarily due to the increasing incidence of cancer cases globally. Cancer continues to be a major health concern, eventually leading to a growing demand for precise and early cancer detection. With the rapidly aging global population and lifestyle-related risk factors becoming more prevalent, the occurrence of various cancer types is steadily rising, thereby necessitating the need for biopsy procedures.
Diverse Applications of Biopsy Procedures Facilitating the Growth of Biopsy Devices Market: The diverse applications of biopsy devices beyond cancer diagnosis are a significant factor contributing to the growth of the biopsy devices market. Biopsies are instrumental in diagnosing liver diseases such as hepatitis and non-alcoholic fatty liver disease (NAFLD), addressing the rising global liver disease cases. According to a study published in Clinical and Molecular Hepatology in 2023, titled "Global Incidence and Prevalence of Non-Alcoholic Fatty Liver Disease," the global burden of NAFLDs has been significant and is projected to rise. Moreover, the research published in 2023 also estimated that NAFLDs had an incidence rate of 46.9 cases per 1,000 people, with indications prevalent in 32% of adults worldwide as of 2022.
Rising Government Initiatives for Early Cancer Detection Driving the Utilization of Biopsy Devices: The increasing focus and initiatives undertaken by governments worldwide to raise awareness about cancer have emerged as a significant driver fueling the adoption of biopsy devices. Governments are recognizing the criticality of early detection and accurate diagnosis in improving cancer outcomes. As a result, active promotion campaigns, screening programs, and the dissemination of information about the benefits of early detection through various channels have been on the rise, especially through social awareness camps and channels under various governments.
Increasing Adoption of Inorganic Growth Strategies in the Market: Due to the ever-rising prevalence of cancers, the need for better products and services is becoming more evident. Several key players are aligning their technologies as per the market requirements to provide technologically advanced products and services by adopting inorganic strategies, such as agreements, partnerships, and collaborations.
With the ultimate aim of grabbing maximum market share through the introduction of effective products in the global biopsy devices market, several companies are coming together to provide better products and services in the domain of liquid biopsy to enable oncologists to effectively monitor and screen several types of cancers.
Risk of Infections Associated with Biopsies: Prostate biopsies are vital for diagnosing and monitoring prostate cancer, making it an integral component of urological practice. However, the risk of infection associated with prostate biopsy poses a significant constraint on the growth of biopsy devices.
According to a study published in the World Journal of Urology in 2021, titled "The Negative Aftermath of Prostate Biopsy: Prophylaxis, Complications, and Antimicrobial Stewardship: Results of the Global Prevalence Study of Infections in Urology 2010-2019," a prostate biopsy is one of the most commonly performed urological procedures globally, with over one million biopsies conducted annually in the U.S. alone.
High Cost of Biopsy Procedures: Liquid biopsy is gaining prominence as an emerging approach for molecular profiling using circulating tumor DNA (ctDNA) for therapeutic decision-making. The non-invasive nature of the technique and rapid results address challenges related to tissue availability and accessibility. Additionally, it can be the preferred approach for obtaining data on emerging resistance mechanisms in patients who have undergone prior treatments.
Upsurge in Incidence of Cancer Leading to Growth in the Adoption of Biopsy Devices: Virtual biopsy represents a potent and non-invasive alternative for monitoring and controlling various cancer types. This innovative imaging-based approach can extract encoded information from standard medical imaging scans and generate probabilities to assist in tissue characterization for cancer screening, diagnosis, grading, treatment planning, and disease prognosis, eliminating the need for surgical or invasive procedures.
In comparison to conventional biopsies, virtual biopsies offer several advantages, including fewer risks of complications for the patient. Moreover, they present a cost-efficient alternative by eliminating the need for an operating room, resulting in lower expenses. Furthermore, patients can benefit from expedited tumor pathology reports, which can significantly impact their treatment timeline.
Product/Innovation Strategy: The global biopsy devices market has been extensively segmented based on various categories, such as products, types, guidance techniques, and regions. All the regions and countries include a detailed analysis based on product type, biopsy type, and anatomy for tissue biopsy. At the same time, for liquid biopsy, the region segmentation includes analysis based on product type, biopsy type, disease type, and anatomy. This can help readers get a clear overview of which segments account for the largest share and which ones are well-positioned to grow in the coming years.
Growth/Marketing Strategy: Product and service launches, and synergistic activities accounted for the maximum number of key developments, i.e., nearly 67.96% of the total developments in the global biopsy devices market were between January 2021 and September 2023.
Competitive Strategy: The global biopsy devices market has numerous established players that have paved their way into providing tissue biopsy and liquid biopsy products in the market. Key players in the global biopsy devices market analyzed and profiled in the study involve established players offering various guidance systems, automated systems, semi-automated systems, and consumables, namely, trocars, biopsy forceps, and others, used in needle biopsy, skin biopsy, and surgical biopsy. At the same time, liquid biopsy includes assays/kits, instruments/platforms, and consumables.
The primary sources involve industry experts in the biopsy devices market, including the market players offering tissue biopsy products and liquid biopsy products. Resources such as COOs, vice presidents, product managers, directors, territory managers, and business development have been interviewed to obtain and verify both qualitative and quantitative aspects of this research study.
The companies that are profiled have been selected based on inputs gathered from primary experts and analysing company coverage, product portfolio, and market penetration.
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