Global Biopsy Devices Market Size by Product (Needle-Based Biopsy Instruments, Biopsy Forceps, Localization Wires, and Other Products), Application (Breast Biopsy, Gastroenterology Biopsy, Prostate Biopsy, Liver Biopsy, Lung Biopsy, Kidney Biopsy, Gynecological Biopsy, and Others), Imaging Technology (MRI–guided Biopsy, Stereotactic–guided Biopsy, Ultrasound-guided Biopsy, CT scan, and Others), and End User (Diagnostic and Imaging Centers, Hospitals, and Others), By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa), (Trend Analysis, Market Competition Scenario & Outlook, 2016-2026.

Global Biopsy Devices Market Size - Industry Trends & Outlook Report 2026

Global Biopsy Devices Market is estimated to be USD 3.8 billion by 2026 from USD 2.53 billion in 2019, at a CAGR of 6% from 2020 to 2026. Significant increase in cancer occurrence, such as breast, prostate, and lung, and fast technological advancements such as 3D optical biopsies, MRI-targeted biopsies, and Ultrasound-guided biopsies fuel the acceptance of biopsy devices. Moreover, the rise in consciousness on the diagnosis of chronic diseases fosters the demand for integrated biopsy technologies such as stereotactic-guided biopsy. However, the high cost of biopsy devices and limited accessibility of skilled professionals in low-income countries hamper the market's development.    

Global Biopsy Devices Market: Market Outlook and Trends

The biopsy is a process to execute surgical removal of tissue from an organ to conclude the presence or extent of disease, generally cancerous and inflammatory conditions. It is usually performed by surgeons, radiologists, and interventional cardiologists. Biopsies can be executed on any organ using precise biopsy devices as a confirmatory test for cancer and celiac diseases. The use of each biopsy device varies according to the type of organ under consideration. Conventional biopsy devices can complement progressive imaging technologies, such as MRI-guided biopsy, stereotactic-guided biopsy, ultrasound-guided biopsy, CT scan, and others, to execute biopsy with correctness and minimal invasiveness. These integrated procedures are used to do biopsies on body organs such as the lungs, liver, and kidneys.

Global Biopsy Devices Market 

Growth Drivers

Rising cases of cancer 

The growing occurrence of cancer universal and the occurrence of untapped opportunities in developing economies, especially of Asia Pacific, along with refining healthcare infrastructure in these regions, are amid the key trends stoking market growth. Surging demand for effective diagnostic procedures for cancer is also predictable to work in favor of the market.

R&D in the medical field

The outline of technologically advanced products such as the Aspiration biopsy syringe gun by INRAD Inc. supports the section's development. Moreover, the burgeoning demand for vacuum-assisted devices is inducing the biopsy devices market positively. These devices are manual, semi-automatic, and automatic with a spring-loaded mechanism for minimally invasive insertion to obtain laboratory testing samples. Such devices prove high efficiency and accuracy in the withdrawal of large volumes and excellent quality tissue samples with minimal passes through the skin.

Continual research and development in medical devices have led to the introduction of various novel gear and systems in the market, such as robotic medical systems. Robotic guidance systems offer multiple welfares in a process such as growing the total number of surgeries executed by a surgeon and reducing patient stay in the hospital. These systems are used to reduce the entire procedural duration to safeguard minimal patient discomfort.

Restraint

Financial constraint 

Growing cancer-related expenditure is triggering the need for actual diagnostic procedures. Government and healthcare regulatory bodies worldwide are engaged continuously in curbing high costs related to the treatment of cancer. Primary and secondary healthcare centers in emerging nations are boosting patients to experience regular diagnostic examinations. Biopsy devices involve a comparatively lesser number of hospital stays and, therefore, is economically viable.

Impact of COVID-19 in industry

During the COVID-19 epidemic, screenings have fallen sharply. Cervical cancer repeats were down 68 percent in the US across the first 15 weeks of 2020, while breast cancer checking downfall by 17 percent, with more significant declines in areas where the outbreak was sturdiest. Amid patients with cancer and COVID-19, 30-day all-cause humanity was high and related to general risk factors and risk factors exclusive to cancer patients. Longer follow-up is desirable to understand better the effect of COVID-19 on results in patients with cancer, including the capability to last specific cancer treatments.

Global Biopsy Devices Market: Segmentation

The biopsy devices market is segmented based on the product, application, imaging technology, end-user, and region. The biopsy devices market is segmented into needle-based biopsy instruments, biopsy forceps, localization wires, and other products based on product. The needle-based biopsy instruments learned the largest biopsy devices market share in 2018. Furthermore, this section is also predictable to grow at the fastest rate during the estimated period due to a surge in the number of breast cancer, gastrointestinal tract diseases, and soft tissue sarcomas. Aspiration biopsy needles are non-invasive and provide significant sample collection compared to core biopsy devices, which require an incision. Furthermore, core biopsy devices are higher in cost than vacuum-assisted biopsy devices and aspiration biopsy needles. 

Based on the application, the market is classified into breast biopsy, gastrointestinal (GI) biopsy, prostate biopsy, liver biopsy, lung biopsy, kidney biopsy, gynecological biopsy, and others. Based on the application, the breast biopsy in the application segment generated the highest revenue in 2018 and is expected to maintain its supremacy during the forecast period. This is attributed to the rise in the number of breast cancer patients witnessed over the years throughout the globe and is predictable to maintain this trend in the future. Presently, breast cancer can be recognized efficiently using progressive biopsy devices with higher efficacy in less time. Besides, the surge in the public consciousness for disease screening and technological advancement in biopsy devices has driven the request for the use of biopsy devices universal.

Based on imaging technology, the market is divided into MRI-guided biopsy, stereotactic-guided biopsy, ultrasound-guided biopsy, CT scan, and others. Based on End-user, the market is characterized by diagnostic and imaging centers, hospitals, and others. Based on the region, the biopsy devices market size is analyzed across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Global Biopsy Devices Market: Regional Insights

North America occupied the largest share of the market in 2018 and is expected to maintain its dominance during the predicted period owing to extensive accessibility of trained medical professionals, availability of well-developed infrastructure facilities, and the existence of mainstream of crucial players. However, Asia-Pacific is probable to see the highest growth rate throughout the forecast period, due to its large population base, the surge in disposable income, and the rise in patient consciousness toward disease screening. Besides, the increase in the geriatric population that is highly vulnerable to cancer is the crucial funder for its market growth.

Competitive landscape

The leading players in the Biopsy Devices Market include Argon Medical Devices, Inc., B. Braun Melsungen AG, Becton Dickinson and Company (C.R. Bard, Inc.), Boston Scientific Corporation, Cardinal Health, Inc., Cook Medical, Inc., Danaher Corporation (Leica Microsystem), Fujifilm Holdings Corp., Hologic, Inc., and Medtronic plc. other prominent players.

Recent Developments

October 2020, Argon Medical Devices and Rex Medical announce Exclusive License and Distribution Agreement for the “CLEANER™” Rotational Thrombectomy System.

May 2020, Cardinal Health (NYSE: CAH) announced today that it is sending an irrevocable notice of early redemption to the holders of the Company's $500 million 4.625% notes due 2020. The early redemption date is set to June 22, 2020, according to the June 2, 2008 indenture and the notes.

Scope of the Report

·         By Product

ü  Needle-Based Biopsy Instruments

ü  Biopsy Forceps

ü  Localization Wires

ü  Other Products

·         By Application

ü  Breast Biopsy

ü  Gastroenterology Biopsy

ü  Prostate Biopsy

ü  Liver Biopsy

ü  Lung Biopsy

ü  Kidney Biopsy

ü  Gynecological Biopsy

ü  Others

·         Imaging Technology

ü  MRI–guided Biopsy

ü  Stereotactic–guided Biopsy

ü  Ultrasound–guided Biopsy

ü  CT scan

ü  Others

·         By End User

ü  Diagnostic and Imaging Centers

ü  Hospitals

ü  Others

·         By Region

ü  North America

ü  Europe

ü  Asia Pacific

ü  South America

ü  Middle East & Africa

The objective of the Study:

•To analyze and forecast the Global Biopsy Devices Market size of the market in terms of value.

•To examine the careful market segmentation and forecast the market size, in terms of value, based on the region by segmenting.

•The Global Biopsy Devices Market segmented into five regions, namely, North America, Europe, Asia Pacific, Middle East, South America, and their leading countries.

•To outline, categorized, and forecast the Global Biopsy Devices Market based on By Product Type, By Application, By Imaging Technology, By End User and By Regional.

•To examine competitive developments like By Product Type, By Application, By Imaging Technology, By End User and by Regional within the Global Biopsy Devices Market.

•To highlight the impact analysis of the factors affecting the market dynamics such as growth drivers.

•To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.

Business Questions Answer by the Report

•         How will the market drivers, restraints, and opportunities affect the market dynamics?

•         What will be the market size in terms of value and volume and market statistics with a detailed classification?

•         Which segment dominates the market or region, and one will be the fastest - growing, and why?

•         A comprehensive survey of the competitive landscape and the market participant players

•         Analysis of strategy adopted by the key player and their impact on other players.

Customization Scope for the Client

Client satisfaction is our first and last priority, and that is why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:

Additional Company Information

•    With five additional company detail analysis

•    Additional country analysis

•    Detailed segment analysis