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Global Biopsy Devices Market to Grow at a CAGR of 6.69% During 2022-2027, Fostered by Rising Prevalence of Cancer

Published on May 08, 2020

According to the latest report by IMARC Group, titled “Biopsy Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global biopsy devices market reached a value of US$ 2.33 Billion in 2021. Biopsy devices assist surgeons, cardiologists and other medical practitioners in performing the surgical removal of tissues from any part of the body to examine the presence of a disease. They are also utilized for surgically removing a suspicious nodule or lump with the help of ultrasound, x-ray, computed tomography (CT), or magnetic resonance imaging (MRI). These imaging techniques determine precisely where the needle needs to be placed for performing the biopsy.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Biopsy Devices Market Trends:

According to the World Health Organization (WHO), cancer is one of the leading causes of death and resulted in around 9.6 million deaths across the globe in 2018. The increasing prevalence of the disease represents one of the significant factors strengthening the biopsy devices market growth. Apart from this, the increasing awareness among individuals about the availability of diagnostic and screening procedures for chronic diseases is positively influencing the demand for integrated technologies, such as stereotactic-guided biopsies. Furthermore, the development of vacuum-assisted guns and smart biopsy systems are helping in distinguishing healthy cells from tumorous ones. Some of the other factors anticipated to bolster the market growth in the upcoming years are the growing geriatric population, rising healthcare expenditure, increasing initiatives undertaken by governing agencies of various countries and extensive research and development (R&D) activities. Looking forward, the market value is projected to grow at a CAGR of 6.69% during the forecast period (2022-2027).

Market Summary:

  • Based on the procedure type, the market has been bifurcated into surgical and needle biopsy.
  • On the basis of the product, the market has been segmented into biopsy guidance systems, needle-based biopsy guns, biopsy needles, biopsy foreceps and others.
  • The market has been analyzed on the basis of the application into breast, lung, colorectal, prostate and other biopsies.
  • Based on the guidance technique, the market has been segregated into ultrasound-, stereotactic-, MRI- and other guided biopsies.
  • On the basis of the end user, the market has been divided into hospitals and clinics, academic and research institutes, and others.
  • Region-wise, the market has been classified into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and Middle East and Africa.
  • The competitive landscape of the market has been examined, with some of the key players being Argon Medical Devices, Inc., B. Braun Melsungen AG, Becton, Dickinson and Company, Boston Scientific Corporation, Cardinal Health, Inc., Cook Group Incorporated, Danaher Corporation, Hologic, Inc. and Medtronic PLC.

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