Biopsy Devices 2018-2026 Market Positioning, Revenue, Growth Factors and Foreca

Posted by satish on February 27th, 2019

A biopsy is a sample of tissue taken from the body for in-depth analysis of the sample to reach an effective diagnosis of a condition, wherein conventional diagnostic methods such as x-rays and body scans do not provide any conclusive evidence. Biopsies are usually carried out to detect cancer, though their application is not restricted to it. This procedure is mostly performed by interventional radiologists, cardiologist and surgeons. Biopsy might be recommended in one of the following condition, among others:

A mammogram shows a lump or mass, indicating the possibility of breast cancer

A mole on the skin has changed shape recently and melanoma is possible

A person suffers from chronic hepatitis and possibility of cirrhosis needs to be ruled out

Types of biopsies:

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There are different kind of biopsies performed for different conditions and usually sharp tools are required to remove small amount of tissues. Listed below are some of the common types of biopsies:

Needle biopsy, CT-guided biopsy, Bone biopsy, Bone marrow biopsy, Ultrasound-guided biopsy, Liver biopsy, Kidney biopsy, Aspiration biopsy, Skin biopsy, Surgical biopsy

In biopsy, a sample of tissue is removed by a device and then sent to pathologist where thin slices are prepared and mounted on slides. The sample is then dyed and examined under a microscope to check for any abnormalities.

Global Biopsy Devices Market Outlook: Burgeoning growth in incidence rate of cancer fueling demand for preventive tests

High incidence of cancer is one of the main factor responsible for growth of the biopsy devices market. As per statistics released by the World Health Organization (WHO), around 14 million new cases of cancer were reported worldwide in 2012, with incidence rate expected to surge by exponentially by 70% over the following two decades. Furthermore, growing geriatric population characterized by a weak immune system, across the globe and increasing consumer health awareness leading to increasing preventive screening are other factors inadvertently fueling growth of the biopsy device market. Apart from this, stringent regulations posed on the companies in terms of labelling, designing and performance issues, as well as high cost of the devices are the major restrain factors which are hampering market growth. One of the main example of this is regular inspection by the regulatory authorities, in which evaluation of the equipment, records inspection and licensure are checked.

Global biopsy device market is projected to witness steady growth in the foreseeable future, with North America, followed by Europe being the largest revenue contributors collectively accounting for around 70% of the overall market. However, rampant increase in government spending on strengthening the healthcare infrastructure in emerging economies such as India and China, in turn is expected to position Asia Pacific as the fastest growing market for biopsy devices through 2024.

Market segmentation:

On the basis of product type, the global biopsy device market is divided as follows:

Needle based biopsy devices (disposable and reusable)

Vacuum-assisted Biopsy (VAB) Devices

Fine Needle Aspiration Biopsy (FNAB) Devices

Core Needle Biopsy (CNB) devices

Biopsy curettes

Owing to their ease of use and wide availability, needle based biopsy devices account for the largest market share and are expected to retain their dominance in the market through 2024.

On the basis of technology, the biopsy devices market is segmented as follows:

Ultrasound-guided

Mammography-guided

Magnetic resonance

On the basis of end user, the biopsy devices market is segmented as follows:

Hospitals

Ambulatory surgical centers

Others

Vacuum assisted biopsy procedure is one of the most important diagnostic methods for the diagnosis of breast cancer

On the basis of Anatomy, the biopsy devices market is segmented as follows:

Breast

Gastrointestinal (GI)

Prostate

Others (thyroid, pancreas, and gall bladder)

Key Players in the Global Biopsy Devices Market:

Boston Scientific Carefusion

Cook Medical

C R Bard

Devicor Medical Products

Hologic

Intact Medical Corporation