September 2020
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global biopsy devices market bwc20164
Global Biopsy Devices Market – Industry Trends & Forecast Report 2027
The global biopsy devices market is estimated to grow at a CAGR of 4.3% during the forecast period 2021-2027. As per the analysis, the global biopsy devices market was valued at USD 3.01 billion in 2020 and is anticipated to reach USD 4.07 billion by 2027.The increasing rates of cancer, such as breast, prostate, and lung cancer, along with technological advancements such as 3D optical biopsies, MRI-targeted biopsies, and Ultrasound-guided biopsies have been fueling the growth of the biopsy devices market. Moreover, the rising awareness about the diagnosis of chronic diseases fosters the demand for integrated biopsy technologies such as stereotactic-guided biopsy further fuels the market growth.
Source: BlueWeave
Consulting
Global Biopsy Devices Overview:
The biopsy is a process of surgically
removing the tissues from an organ to identify
the presence or extent of a disease, especially 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 for a confirmatory cancer test 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 for conducting biopsies on body organs such as the lungs,
liver, and kidneys.
Global Biopsy Devices Forecast and Trend
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. According to The World Health Organization, there was a total of 19.3B cancer
cases in 2020. By 2040, the cases are likely to reach30.2B.
Lung, prostate, colorectal, stomach and
liver cancer are the most common types of cancer in men, while breast,
colorectal, lung, cervical, and thyroid cancer are the most common among women.
Surging demand for effective diagnostic procedures for cancer is also
predictable to work in favor of the market.
R&D in the Medical Field
Technologically-advanced
products such as the Aspiration Biopsy Syringe Gun by INRAD Inc. also support
the sector’s development. Additionally, the burgeoning demand for
vacuum-assisted devices is driving the biopsy devices market. These manual,
semi-automatic, and automatic devices come with a spring-loaded mechanism for
minimally invasive insertion to obtain laboratory testing samples. Such devices
offer 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 benefits in a process such as growing the total
number of surgeries executed by a surgeon and reducing patient’s length of stay in the
hospital. These systems are used to reduce the entire procedural duration to
safeguard minimal patient discomfort. The aforementioned are the key factors
driving the overall market growth.
Restraints
Financial
Constraint
The rise in the cost of cancer treatment is triggering the need for
actual diagnostic procedures. Government and healthcare regulatory bodies
worldwide are engaged continuously in curbing high expenses related to the
treatment of cancer. Primary and secondary healthcare centers in emerging nations
are boosting patients to experience regular diagnostic examinations. On average,
the cost of biopsy is very expensive, which is hampering the market growth.
Impact of COVID-19
in the industry
Global biopsy devices saw a downfall in the
market due to COVID-19. Moreover, limited access to clinics, combined with social
distancing norms, and complete lockdown declared by several countries, resulted
in a slow-down in patient flow and referral, which in turn has impacted the
market growth.
During the COVID-19 epidemic, cancer screenings
fell sharply. Repeated screenings for Cervical cancer went down by 68 percent across
the USAin the first 15 weeks of 2020, while breast cancer checking went down 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 have a comprehensive understanding of the effect of
COVID-19 in patients with cancer, including the capability to last specific
cancer treatments.
Global Biopsy
Devices Market: By Product
Based on product, the biopsy devices market
is segmented into (i) needle-based biopsy instruments, (ii) biopsy forceps, (iii)
localization wires, and (iv) other products.
The needle-based biopsy instruments held the
largest share in biopsy devices market share in 2020. Furthermore, this section
is also likely 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 facilitate better 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 driving the market
growth in the product segment.
Global Biopsy
Devices Market: By Application
Based on application,
the market is classified into (i) breast biopsy, (ii) gastrointestinal (GI)
biopsy, (iii) prostate biopsy, (iv) liver biopsy, (v) lung biopsy, (vi) kidney
biopsy, (vii) gynecological biopsy, and
others.
The breast biopsy
in the application segment generated the highest revenue in 2020 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. Breast Biopsy is likely to maintain this trend
in the coming years.
According to the
American Cancer Society, about 281,550 new cases of invasive breast cancer will
be diagnosed in women in 2021across the USA. Additionally, almost 49,290 ductal
carcinoma cases will be diagnosed this year. Breast cancer can be detected efficiently
using cutting-edge biopsy devices with higher efficiency in less time. Additionally,
the increasing public awareness about disease screening and technological
advancement in biopsy devices will drive the growth of the biopsy devices
market.
Global Biopsy
Devices Market: By Imaging Technology
Based on Imaging
Technology, the global biopsy devices market is segmented on into (a) MRI-guided
biopsy, (b) stereotactic-guided biopsy, (c) ultrasound-guided biopsy, (d) CT
scan, and others.
MRI-guided biopsy
held the largest share in the market in 2020 and is likely to dominate the
market in the upcoming
era. MRI-guided biopsy consumes less time and the
procedure is less invasive compared to surgical biopsy. What’s more, it leaves little or no scarring.
MRI-guided breast
biopsy, conducted via core needle method or vacuum-assisted device, takes less
time than surgical biopsy besides causing minimum tissue damage. Additionally,
it is more affordable. These are the key factors driving the growth of
MRI-guided biopsy in imaging technology segment.
Global Biopsy
Devices Market: By End-User
Based on end-user, the market is segmented
into (i) hospitals, (ii) diagnostic & imaging centers, and (iii) academic
& research institutes.
In 2020, hospitals formed the largest
end-user segment of the market. This can be attributed to the growth in the
healthcare sector in emerging economies along with the increase in healthcare
expenditure and the number of hospitals.
Additionally, the U.S. News & World Report evaluated 899 hospitals that see many complex cancer patients in U.S. fueling the overall market growth.
Global
Biopsy Devices Market: Regional insights
Based
on regions, the global biopsy devices market is fragmented into (i) North
America, (ii) Europe, (iii) Asia Pacific, (iv) Latin America, and (v) the
Middle East & Africa.
North
America occupied the largest share of the market in 2020 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 crucial players.
However, the Asia-Pacific is likely to witness the highest growth rate throughout the forecast period due to its large population base, the surge in disposable income, and the rise in patient awareness about disease screening. Additionally, the increase in the geriatric population that is highly vulnerable to cancer is the crucial factor driving the market growth.
Competitive
landscape
Key players for 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. many
others.
Recent Development
·
In October 2020, Argon Medical Devices and
Rex Medical announced Exclusive License and distribution agreement for the
“CLEANER” rotational thrombectomy system.
·
In December 2020, Becton Dickson announced
that its plans to invest USD1.2 Billion in Pre-fillable syringe manufacturing
capacity over next four years to expand and upgrade manufacturing capacity and
technology for pre-fillable syringes (PFS) and advanced drug delivery systems
(ADDS) across its six global manufacturing locations besides adding a new
manufacturing facility in Europe.
Scope of the
Report
Attribute |
Details |
Years Considered |
Historical data – 2017-2019 Base Year – 2020 Forecast – 2021 – 2027 |
Facts Covered |
Revenue in USD Billion |
Market Coverage |
U.S, Canada, Germany, UK, France, Italy,
Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina, AUAE,
South Africa, Saudi Arabia |
Product/Service Segmentation |
By product, application,
imaging technology, end user and region |
Key Players |
Key Players for Biopsy Devices Market Includes: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, and other prominent players. |
Scope of the
Report
By Product
Ø
Needle-Based Biopsy Instruments
Ø
Biopsy Forceps
Ø
Localization Wires
Ø
Other Products
By Application
Ø
Breast Biopsy
Ø
Gastroenterology Biopsy
Ø
Prostate Biopsy
Ø
Liver Biopsy
Ø
Lung Biopsy
Ø
Kidney Biopsy
Ø
Gynecological Biopsy
Ø
Others
By Imaging Technology
Ø
MRI–guided Biopsy
Ø
Stereotactic–guided Biopsy
Ø
Ultrasound-guided Biopsy
Ø
CT scan
Ø Others
End-User Industry
Ø
Diagnostic and Imaging Centers
Ø
Hospitals
Ø Others
By Region
Ø
The Asia-Pacific
Ø
North America
Ø
Europe
Ø
The Middle East & Africa
Ø
Latin America
We've been tracking the direct impact of COVID-19 on this market, and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Contact our sales team for more details at
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