Market Research Report
Biopsy Devices Market - Forecasts from 2021 to 2026
|Biopsy Devices Market - Forecasts from 2021 to 2026|
Published: July 5, 2021
Knowledge Sourcing Intelligence
Content info: 115 Pages
Delivery time: 1-2 business days
The biopsy devices market is projected to grow at a CAGR of 6.77% during the forecast period to reach a 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 primary 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.
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 complement the market growth.
As reported by US National Cancer Institute, the most 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.
North America will continue to account for a significant part of the market during the projection period owing to established industry players based in the region. 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.
Needle-based Biopsy Instruments
Diagnostic and Imaging Centers
Academic & Research Institutes
Middle East and Africa