Global Biopsy Devices Market worldwide was worth $ 2.45 billion US dollars in 2021. AMR Group projects that the market will reach US$ 4.34 billion by 2031, growing at a CAGR of 7.28 percent between 2022 and 2031. A medical technique called a biopsy allows doctors to examine and expel malignant tissue from the body. The test is used to collect tissue samples for disease diagnosis when a patient is suspected of having cancer. Skin biopsies, vacuum biopsies, incision and excision biopsies, needle biopsies, small needle aspirations, and shave biopsies are all used to diagnose cancer.
Generally, malignant and inflammatory disorders are the focus of biopsies, which include the surgical removal of tissue from an organ to ascertain the existence or severity of a disease. Radiologists, interventional cardiologists, and surgeons typically conduct it. As a confirmatory test for cancer and celiac disease, biopsies can be carried out on any organ using specialized biopsy equipment. Each biopsy tool has a different use depending on the type of organ being studied. Advanced imaging technologies, such as MRI-guided biopsy, stereotactic-guided biopsy, ultrasound-guided biopsy, CT scan, and others, can be used in conjunction with conventional biopsy instruments to perform biopsy with accuracy and less invasiveness. The lungs, liver, and kidneys are just a few of the bodily organs whose biopsies are carried out using these integrated techniques.
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Market Segmentation:
By Product
- Needle-Based Biopsy Instruments
- Procedure Trays
- Localization Wires
- Other Products
By Guidance Technique
- Ultrasound-Guided Biopsy
- Stereotactic-Guided Biopsy
- MRI-Guided Biopsy
- Other Guidance Techniques
By Application
- Breast Biopsy
- Lung Biopsy
- Colorectal Biopsy
- Prostate Biopsy
- Other Applications
By End User
- Hospitals
- Academic and Research Institutes
- Diagnostic and Imaging Centers
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Key Player:
Key players operating in the Biopsy Devices Market includes, Argon Medical Devices Inc., B. Braun Melsungen AG, BD, Boston Scientific Corporation, Cardinal Health Inc., CONMED Corporation, Cook Medical, Danaher Corporation, Devicor Medical Products Inc., DTR Medical, FUJIFILM Holdings Corporation, Gallini Srl, Hologic, Inc., INRAD, Inc., Leica Biosystems Nussloch GmbH, Medtronic, Olympus Corporation and TransMed7, LLC among others. A well-known manufacturer of medical equipment used in interventional radiology and interventional oncology procedures, IZI Medical Products LLC (“IZI”), introduced The Quick-Core Auto Biopsy System (“Quick-Core Auto”) for soft tissue biopsy in March 2021.
Regional Analysis:
Geographically, in 2022, North America had a significant revenue share of over 40.0%. It will continue to hold a sizable part of the market during the projection period because of the established industry players based there. The regional market is anticipated to benefit from high market penetration rates of technologically sophisticated equipment like vacuum-assisted biopsy systems and a quickly rising disposable device demand. The majority of biopsies are performed in the United States. For instance, 3 million breast biopsies are carried out in the U.S. each year, according to a research report titled “The Breast” that was released in 2018. Additionally, because medical devices are regarded as having a moderate level of risk, the U.S. FDA has a less strict regulatory approval procedure.
The Asia Pacific region offers fantastic potential for business expansion. The region’s market is expected to rise as a result of the rapidly evolving healthcare infrastructure in developing Asia-Pacific nations, the high level of unmet patient demands, and the rising prevalence of cancer. According to Global Cancer Statistics 2020, Asia is projected to account for 58.3% of cancer deaths and 50% of all cancer cases. Moreover, changes implemented in China and India are anticipated to boost the purchasing power of healthcare organizations, consequently accelerating sector growth.
COVID Impact
The COVID-19 pandemic gave a negative impact on the Biopsy Devices business market. The development of COVID-19 had a negative influence on the healthcare sector. The market for biopsy instruments was also severely impacted, therefore it is not a spectator sport. The government implemented lockdown and social segregation measures to contain the COVID-19 pandemic outbreak. These measures caused a number of problems, including the suspension of several manufacturing operations, disruptions in the supply chain, stifling business growth, cancellations of technology treatments, and even an impact on overall production and sales, which restricted the industry’s growth. Also, the healthcare industry gave priority to the relevance of routine surgical procedures and if possible, explored non-surgical therapeutic methods. Market expansion was hampered by the rise of non-surgical procedures and the avoidance of surgical procedures.
Key USPs–
A partnership between Biocept, Inc. and Quest Diagnostics (NYSE: DGX) to provide laboratory testing services for the Target SelectorTM NGS-based liquid biopsy targeted lung cancer panel to Quest patients was announced in June 2021. Quest Diagnostics is a leading provider of molecular diagnostic assays, products, and services. The leading provider of diagnostic information services, including complex diagnostics, is Quest Diagnostics.
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