Global Biopsy Devices Market Size, Share & Industry Trends Analysis Report By Product (Needle-based Biopsy Guns, Biopsy Guidance Systems, Biopsy Needles, Biopsy Forceps and Others, By End User, By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Biopsy Devices Market
Market Report Description
The Global Biopsy Devices Market size is expected to reach $3 billion by 2028, rising at a market growth of 7.5% CAGR during the forecast period.
The biopsy is a medical examination that is mainly used by surgeons, interventional radiologists, or interventional cardiologists. It involves the removal of model cells or tissues for testing the existence or degree of disease. After the removal of tissue, it is fixed, implanted, segmented, stained, and mounted, which is then analysed chemically by a pathologist.
Excisional biopsy is a process where a completely swollen area or doubtful part is taken out. Whereas, when a part of irregular tissue is taken out without removing the complete lesion or tumour, it is called an incisional biopsy or core biopsy.
Most biopsies are performed to know about probable cancerous or inflammatory conditions. Biopsy devices are used to inspect disorders by taking out a tissue from the affected place or organs with the help of the biopsy process while managing diagnostic examination. The use of every biopsy device is different and depends on the type of organ for which it is done.
Common biopsy devices may be used together with advanced imaging technologies like a stereotactic-guided biopsy, MRI-guided biopsy, CT scan, ultrasound-guided biopsy, and others to execute biopsy with precision and least invasiveness.
COVID-19 Impact Analysis
The COVID-19 pandemic severely impacted the biopsy devices market. During this period, the market experienced a number of disruptions, including the temporary shutdown of many industrial processes. This restrained commercial expansion, disrupted supply chain operations, and affected overall manufacturing and sales, and hence hampered the development of the healthcare industry. As a consequence, widespread cancellations of specialized treatments took place globally.
Market Growth Factors
Increased Demand For Cancer Treatment
As per World Health Organization, the cancer is the foremost reason for death all over the world, accounting for almost 10 million demises in 2020, or approximately one in six deaths. The most common cases of cancers are breast, colon & rectum, lung, and prostate cancers. About one-third of people who die from cancer are due to tobacco, alcohol consumption, high body mass index, low fruit & vegetable consumption, and absence of bodily movement.
Growth Of Healthcare Infrastructure
A significant factor supporting the expansion of the biopsy device market is expanding healthcare infrastructure. This is the result of the growing number and size of investments in the healthcare sector all over the globe. In addition, it is predicted that more developing economies are demanding high-quality healthcare facilities as they are supported by high spendable incomes. This factor is predicted to offer growth opportunities to the market players entering the biopsy device market.
Market Restraining Factors
Alternatives To Biopsy Are Preferred More
There are some techniques that are chosen over biopsy. Patients choose these alternatives for cancer diagnosis because they are more efficient in terms of time, money, and technology. Confocal microscopy further assists the effectiveness of diagnostic procedures by providing instantly readable, high-resolution digital images. This technique has ability to access practically any part of the body with simple devices. Some tests are available that could detect the enzymes that prostate cancer produces to determine whether cancer is present and how aggressive or quickly it might be growing. This may negatively affect the biopsy device market.
Based on the product, the biopsy devices market is segmented into needle-based biopsy guns, biopsy guidance systems, biopsy needles, biopsy forceps and others. In 2021, the needle-based biopsy guns segment dominated the biopsy devices market with the maximum revenue share. The rising demand for these guns to obtain trials from soft tissues of internal body parts such as breasts, kidneys, and lungs is expected to support the growth of the overall market in this segment during projected period. The critical factor for the rise of needle-based biopsy guns is the growing necessity for quick and tender obtaining of cell trials for biopsy.
End User Outlook
Based on the end user, the biopsy device market is categorized into hospitals, diagnostic imaging centers, and others. The diagnostic center segment procured a prominent revenue share in the biopsy device market in 2021. These centers are specially established for diagnosis purposes. People with high-income levels usually prefer getting diagnosed in such centers. In addition, the skilled personnel and use of the latest medical devices are promoting these centers. As a result of a high number of patients undergoing diagnosis in such centers, the market is predicted to grow in this segment during the projection period.
|Market size value in 2021||USD 1.8 Billion|
|Market size forecast in 2028||USD 3 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 7.5% from 2022 to 2028|
|Number of Pages||298|
|Number of Tables||530|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Product, End User, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region-wise, the biopsy devices market, is analysed across North America, Europe, Asia Pacific and LAMEA. In 2021, the North America region recorded the maximum revenue share in the biopsy devices market. Owing to recognized market players in this region, the demand for biopsy devices would further expand. In addition, high market infiltration taxes of technically innovative devices, for example, vacuum-assisted biopsy systems, and a quick rise in demand for not reusable devices are likely to support growth in the local markets.
Free Valuable Insights: Global Biopsy Devices Market size to reach USD 3 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Medtronic PLC, Hologic, Inc., Fujifilm Holdings Corporation, B. Braun Melsungen AG, Danaher Corporation, ConMed Corporation, Becton, Dickinson and Company, Cardinal Health, Inc., Argon Medical Devices, Inc., and Cook Medical, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Needle-based Biopsy Guns
- Vacuum-assisted Biopsy (VAB) Devices
- Fine Needle Aspiration Biopsy (FNAB) Devices
- Core Needle Biopsy (CNB) Devices
- Biopsy Guidance Systems
- Biopsy Needles
- Biopsy Forceps
By End User
- Diagnostic & Imaging Center
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Medtronic PLC
- Hologic, Inc.
- Fujifilm Holdings Corporation
- B.Braun Melsungen AG
- Danaher Corporation
- ConMed Corporation
- Becton, Dickinson and Company
- Cardinal Health, Inc.
- Argon Medical Devices, Inc.
- Cook Medical, Inc.
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What would be the size of the Biopsy Devices Market by 2028?
The global Biopsy Devices Market size is expected to reach $3 billion by 2028.
What are the key driving factors and challenges in the Biopsy Devices Market?
Increased Demand For Cancer Treatment are driving the market in coming years, however, Alternatives To Biopsy Are Preferred More restraints the growth of the market.
What are the major top companies in the competitive landscape?
Medtronic PLC, Hologic, Inc., Fujifilm Holdings Corporation, B. Braun Melsungen AG, Danaher Corporation, ConMed Corporation, Becton, Dickinson and Company, Cardinal Health, Inc., Argon Medical Devices, Inc., and Cook Medical, Inc.
Which segment shows a high revenue share of the Biopsy Devices Market in 2021?
The Hospitals segment acquired maximum revenue share in the Global Biopsy Devices Market by End User in 2021 thereby, achieving a market value of $1.5 billion by 2028.
Which region dominated the Biopsy Devices Market in 2021?
The North America market dominated the Global Biopsy Devices Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.2 billion by 2028.