Market Research Report
Biopsy Devices Market Size By Product (Biopsy Guidance Systems, Needle Based Biopsy Guns Biopsy Needles, Biopsy Forceps, End-use, COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021-2027
|Biopsy Devices Market Size By Product (Biopsy Guidance Systems, Needle Based Biopsy Guns Biopsy Needles, Biopsy Forceps, End-use, COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021-2027|
Published: June 30, 2021
Global Market Insights Inc.
Content info: 339 Pages
Delivery time: 2-3 business days
The biopsy devices market is expected to witness notable growth by 2027 owing to surging demand for diagnostics and high prevalence of diseases across the globe. Additionally, manufacturers are integrating advanced technologies into devices for efficient biopsies and better clinical outcomes, which is projected to further fuel market demand over the forecast period.
The COVID-19 outbreak disrupted cancer care worldwide by causing a delay in diagnoses and treatment as well as by bringing clinical trials to a halt. Therefore, the healthcare industry took measures to ensure the reorganization of cancer services so that patients could continue to obtain essential care and treatment.
As a result, amplified efforts to ascertain continuous availability of optimum diagnostics and treatment for patients is boosting the demand for diagnostic procedures like biopsies, thereby propelling market demand. Additionally, extensive vaccination drives are allowing nations across the globe to resume operations in virtually all sectors, which has also positively influenced market development.
Moreover, industry players are also adopting various strategic initiatives to gain a robust foothold in the global market, which has been favorable for industry outlook across key regions. For instance, in November 2020, Limaca Medical, a leading Israel-based investment group working on medical technologies, raised USD 1.25 million to conduct first-in-human (FIH) procedures, obtain regulatory approvals, and carry out post-market clinical studies.
Limaca is developing its Precision biopsy device - an automated revolving needle that extracts high-quality core tissue for advanced genetic profiling and histopathology. The device makes it possible to get tissue samples for biopsy with ten times more procedural efficacy and lesser trauma than that involved in the existing endoscopic standard of care. It promises better clinical outcomes through improved diagnostic accuracy and patient-focused treatment.
For extensive analysis, the biopsy devices market has been categorized on the basis of product, end-use, and region. Based on product, the market has further been segregated into biopsy guidance system, biopsy needles, biopsy forceps, needle based biopsy guns, and others.
The biopsy devices market from the biopsy forceps product segment is estimated to garner a sizable revenue by 2027, expanding at a considerable rate through the analysis period. Mounting demand for routine tissue sampling and surging prevalence of skin diseases are expected to fuel segmental growth over the following years.
In terms of end-use, the market has been bifurcated into ambulatory surgical centers, hospitals, and others. The ambulatory surgical centers sub-segment is calculated to witness notable growth by 2027 at around 9.9% CAGR through the assessment timeframe. Growing preference for outpatient procedures, coupled with the rising focus on expansion of facilities in developed regions, is set to support segmental adoption over the projected timeline.
On the regional spectrum, the Middle East & Africa biopsy devices market is anticipated to see moderate growth by 2027, expanding at a steady pace through the forecast period. Escalating focus on improving procedure accessibility and rising need for facility expansion to cater to the proliferating disease prevalence across MEA are expected to foster regional market outlook in the future.