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Report ID: HC0024
Pages: 191
Base Year: 2023
Format: PDF
Historical Date: 2019-2022
MARKET SCOPE:
The global Biopsy Devices market is projected to grow significantly, registering a CAGR of 6.7% during the forecast period (2023 – 2032).
The biopsy devices market refers to the healthcare sector involved in the manufacturing, distribution, and utilization of devices used for obtaining tissue or cell samples from the human body for diagnostic purposes. Biopsy is a medical procedure performed to extract a small piece of tissue or cells from a specific area in the body, which is then examined under a microscope to diagnose various medical conditions, including cancer and other diseases. Biopsy devices play a crucial role in this process by providing tools for healthcare professionals to safely and accurately collect tissue samples. These devices can vary in design and functionality based on the type of biopsy procedure, such as needle biopsies, core biopsies, or surgical biopsies. The biopsy devices market encompasses a range of products, including biopsy needles, biopsy forceps, biopsy guns, and guidance systems used in minimally invasive procedures. The market’s growth is influenced by factors such as increasing prevalence of cancer, advancements in biopsy technologies, and a rising emphasis on early and accurate diagnosis for improved patient outcomes.
MARKET OVERVIEW:
Driver: The increasing incidence of cancer and other chronic diseases worldwide is driving the market growth.
One of the key drivers for the biopsy devices market is the increasing incidence of cancer and other chronic diseases. As the global population ages and lifestyles change, the prevalence of cancer continues to rise. Biopsy devices play a critical role in the early detection and accurate diagnosis of various types of cancers, driving the demand for these devices. The emphasis on early diagnosis for better treatment outcomes is a significant factor fueling the growth of the biopsy devices market. Additionally, advancements in biopsy technologies, such as minimally invasive procedures and imaging-guided biopsies, contribute to the market’s expansion.
Opportunities: The continuous technological advancements are expected to pave the way for market growth in the upcoming years.
An important opportunity for the biopsy devices market lies in the continuous technological advancements and innovation in the field. Ongoing research and development efforts are leading to the introduction of more efficient and precise biopsy devices. Innovations in imaging technologies, robotics, and molecular diagnostics enhance the accuracy and reliability of biopsy procedures. The expansion of applications beyond oncology, such as biopsy devices used in autoimmune diseases or infectious diseases, presents a broader scope for market growth. Moreover, the increasing awareness about the importance of regular screenings and early diagnosis creates opportunities for the adoption of biopsy devices in preventive healthcare.
COVID IMPACT:
The COVID-19 pandemic has had a mixed impact on the biopsy devices market. On one hand, there have been disruptions due to the redirection of healthcare resources towards managing the pandemic. Elective procedures, including certain types of biopsies, were postponed or canceled during periods of high infection rates. On the other hand, the pandemic highlighted the importance of diagnostic tools, including biopsies, in identifying and managing various health conditions. The backlog of postponed procedures is expected to lead to a surge in demand for biopsy devices in the post-pandemic period. Additionally, the focus on telemedicine and remote patient monitoring during the pandemic has prompted the exploration of innovative solutions in the biopsy devices market, such as remote biopsy guidance systems.
In summary, while the pandemic has presented challenges, it has also underscored the crucial role of biopsy devices in healthcare, and the market is poised to rebound with increased emphasis on early diagnosis and advancements in technology.
SEGMENTATION ANALYSIS:
The application sector is anticipated to grow significantly during the forecast period
Gynecological, breast, prostate, lung, and kidney biopsies are all examples of biopsies. Due to the rising incidence of breast cancer and increased public awareness of the condition, breast biopsy accounts for the greatest market share. A lung biopsy is a process where samples of lung tissue are extracted (during surgery or with a specific biopsy needle) to check for the presence of lung illness or cancer. Either a closed procedure or an open method can be used to take a lung biopsy. While in a kidney biopsy, a small portion of kidney tissue is removed so that it may be studied under a microscope for indications of injury or illness. Devices are categorized into diagnostic, imaging centers, and hospitals according to the end-user biopsy. The biopsy devices market is poised for significant growth, with the application sector expected to experience notable expansion during the forecast period. Several factors contribute to this anticipated growth, highlighting the increasing importance of biopsy devices in medical diagnostics and healthcare.
One key driver is the rising incidence of cancer and other diseases that require precise diagnostic procedures. Biopsy devices play a crucial role in obtaining tissue samples for accurate diagnosis and staging of various medical conditions. As the global burden of cancer continues to increase, the demand for biopsy devices across different medical applications is expected to grow significantly. Advancements in technology, such as the development of minimally invasive biopsy procedures and imaging-guided biopsy techniques, contribute to the expanded applications of biopsy devices. These innovations enhance the accuracy and efficiency of tissue sampling, making biopsies more accessible and acceptable for patients.
Moreover, the aging population globally is leading to a higher prevalence of diseases, including cancer and other conditions that necessitate diagnostic biopsies. This demographic trend contributes to the growing demand for biopsy devices in various medical specialties. The emphasis on personalized medicine and targeted therapies also drives the need for precise and reliable diagnostic information obtained through biopsy procedures. Biopsy devices, equipped with advanced features and capabilities, become essential tools in tailoring treatment plans to individual patient profiles. The forecasted growth in the application sector of the biopsy devices market indicates a broader trend toward advancing diagnostic capabilities and improving patient outcomes. As technology continues to evolve and healthcare practices become more specialized, biopsy devices are expected to play a central role in the diagnosis and treatment decision-making process.
REGIONAL ANALYSIS:
The North American region is set to witness significant growth during the forecast period.
North America dominates the largest market for biopsy devices market. More than 39% of market revenues came from North America. Due to the existing regional companies, the area will probably continue to hold a sizable market share from 2024 To 2032. Additionally, it is predicted that the biopsy device market in this region will profit from a quickly growing demand for disposable devices and strong market penetration rates of cutting-edge technical gadgets. Also, in the North America region, Point-of-care diagnostic tools for early and secure illness detection are now widely accepted as a result of the rising occurrence of infectious diseases. Due to its well-established healthcare infrastructure and sophisticated insurance and co-payment systems, the North American area dominates the industry.
COMPETITIVE ANALYSIS
The global biopsy devices market is reasonably competitive with mergers, acquisitions, and product launches. See some of the major key players in the market.
Scope of the Report
** In – depth qualitative analysis will be provided in the final report subject to market
Primary and Secondary Research
In order to understand the market in detail we conduct primary and secondary research. We collect as much information as we can from the market experts through primary research. We contact the experts from both demand and supply side and conduct interviews to understand the actual market scenario. In secondary research, we study and gather the data from various secondary sources such as company annual reports, press releases, whitepapers, paid databases, journals, and many other online sources. With the help of the primary interviews, we validate the data collected from secondary sources and get a deep understanding on the subject matter. Post this our team uses statistical tools to analyses the data to arrive at a conclusion and draft it in presentable manner.
Market Size Estimations
Understanding and presenting the data collected is a crucial task. Market sizing is a critical part of the data analysis and this task is performed by using Top-down and bottom-up approaches. In this process, we place different data points, market information and industry trends at a suitable space. This placement helps us presume the estimated & forecast values for coming few years. We use several mathematical and statistical models to estimate the market sizes of different countries and segments. Each of this is further added up to outline the total market. These approaches are individually done on regional/country and segment level.
Data Triangulation
As we arrive at the total market sizes, the market is again broken down into segments and subsegments. This process is called as data triangulation and is implementable wherever applicable. This step not only helps us conclude the overall market engineering process, but also gives an assurance on accuracy of the data generated. The data is triangulated based on studying the market trends, various growth factors, and aspects of both demand and supply side.