Breast Biopsy Market is expanding at a 4.80% CAGR | 2030

Posted by omkar on October 21st, 2019

The Global Breast Biopsy Market size is estimated to be USD 1.14 billion in 2019 and is predicted to reach USD 1.91 billion by 2030 with a CAGR of 4.80% from 2020-2030. Breast biopsy is a procedure conducted to remove a small sample of breast tissue or fluid for laboratory testing. This diagnostic procedure is performed to evaluate the breast cells for the presence of breast cancer. Breast biopsy can be performed surgically or with the help of minimally invasive techniques by a radiologists.

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Several types of breast biopsy procedures are performed to obtain a tissue sample. Some of the breast biopsy procedures include fine-needle aspiration biopsy, core needle biopsy, stereotactic biopsy, and so on. Physicians generally recommend a particular procedure based on the size, location and other characteristics of the breast abnormality. Additionally, breast imaging plays a significant role in cancer diagnosis to confirm visual findings. For the procedure to be successful, there has to be strong correlation mammographic data and the biopsy system’s findings. Thus, image guided breast biopsies are currently considered to be a first line approach for tissue diagnosis and helps in reducing the morbidity rate. Advancements in imaging technology thus, provides significant growth opportunities for the players in the breast biopsy market.

Market Dynamics and Trends:

Globally, the number of breast cancer cases are rapidly increasing. According to the World Cancer Research Fund, globally there were over 2 million new cases of breast cancer in 2018. Changing lifestyle habits and genetic abnormalities leads to development of breast cancer in most of the women worldwide. Due to this increasing incidence rate, governments across countries are taking initiatives to create awareness about breast cancer and are also funding research projects to develop appropriate diagnostic and therapeutic alternatives. Number of breast screening programs are being held and renewed reimbursement guidelines are being announced for breast screening/breast biopsy procedures. These factors are likely to fuel to the growth of breast biopsy market globally. However, risks related to invasive biopsy procedures and substandard healthcare facilities especially in developing regions are likely to restrain the growth of this market.

With a primary focus of business development, players such as Hologic, Roche, Cook Medical and Ethicon mainly emphasize on product development and product launches. In August 2017, Hologic announced commercial launch of Brevera breast biopsy system with CorLumina imaging technology, in the US. Also, in January 2016 Genomic Health announced launch of liquid biopsy test, Oncotype SEQ. In addition to this, strategic collaborations for research and development and geographic expansion also create a competitive environment in the global breast biopsy market.

Market Segmentations and Scope of the Study:

The breast biopsy market share is analysed on the basis of type, product, end user and geography. The type segment covers the market for needle breast biopsy, surgical breast biopsy. By product the market is divided into biopsy needles, biopsy tables, localization wires, guidance systems, and others. On the basis of end user the market is segmented into hospitals, cancer research organizations, diagnostic laboratories, and other end users. The geographical segmentation covers North America, Europe, Asia Pacific, and Rest of the World.

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Comprehensive competitive analysis and profiles of major market players such as Biomed Diagnostics, F. Hoffmann-La Roche Ltd., Hologic Inc., C.R Bard, Inc., Devicor Medicals Products, Inc., Ethicon, Cook Medical Incorporated, Scion Medical Technologies, Argon Medical Devices and Becton, Dickinson and Company is also provided in this report.