(MENAFN- GlobeNewsWire - Nasdaq) Chicago, Oct. 26, 2023 (GLOBE NEWSWIRE) -- The biopsy devices industry is poised for remarkable growth in the near future, driven by advancements in medical technology, increasing awareness about early disease detection, and a growing aging population. These innovations are expected to result in minimally invasive and highly precise biopsy tools, reducing patient discomfort and improving diagnostic accuracy. Moreover, the integration of artificial intelligence and robotics is likely to enhance biopsy procedures, making them more efficient and accessible. As the demand for early disease diagnosis and personalized treatment options continues to rise, the biopsy devices sector is set to play a pivotal role in revolutionizing healthcare, offering new hope for improved patient outcomes and more effective disease management. Biopsy Devices market in terms of revenue was estimated to be worth $6.6 billion in 2023 and is poised to reach $12.6 billion by 2028, growing at a CAGR of 14.0% from 2023 to 2028 according to a latest report published by MarketsandMarketsTM. Over the years, biopsy device technologies have evolved significantly, with a focus on enhancing accuracy, reducing patient discomfort, and improving diagnostic yield. These innovations, combined with increasing cancer incidence rates and the need for early disease detection, have driven the growth of the biopsy devices market, making it an integral component of the broader healthcare landscape. As healthcare continues to advance, biopsy devices continue to be at the forefront of diagnostic and therapeutic interventions, contributing to improved patient outcomes and the advancement of medical knowledge. The wide-ranging use of biopsy devices imaging systems continues to drive innovation and breakthroughs in various domains, benefiting humanity in numerous ways.
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Biopsy Devices Market Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | $6.6 billion |
| Estimated Value by 2028 | $12.6 billion |
| Growth Rate | Poised to grow at a CAGR of 14.0% |
| Market Size Available for | 2021-2028 |
| Forecast Period | 2023-2028 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, guidance technique, application, end user, and region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Technological Advancements |
| Key Market Driver | Rising prevalence of cancer |
Biopsy Devices market major players covered in the report, such as:
Becton, Dickinson and Company (US) Cook Group Incorporated (US) Devicor Medical Products, Inc. (Leica Biosystems) (Germany) Hologic, Inc. (US) Argon Medical Devices (US) B. Braun Melsungen AG (Germany) Cardinal Health, Inc. (US) Olympus Corporation (Japan) Boston Scientific Corporation (US) FUJIFILM Holdings Corporation (Japan) INRAD, Inc. (US) Medtronic plc (Ireland) and Among Others
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This report has segmented the global biopsy devices market based on technology, application, end user, and region.
Global Biopsy devices Market, by Product
Needle Based Biopsy Instruments Liquid Biopsy Instruments Localization Wire Biopsy Forceps Procedure Tray Biopsy Table Other Biopsy Products
Global Biopsy devices Market, by Guidance Technique
Image Guided Biopsy Ultrasound Guided Biopsy Stereotactic Guided Biopsy MRI Guided Biopsy Other Biopsy
Non-Image Guided Biopsy Liquid Biopsy General Biopsy
Global Biopsy devices Market, by Application
Breast Cancer Lung Cancer Kidney Cancer Prostate Cancer Bone Marrow Biopsy Other Applications
Global Biopsy devices Market, by End User
Hospitals and Breast Care Centers Diagnostic Imaging Centers Research and Academic Institutes Other End Users
Biopsy devices Market, by region
North America Europe Germany France UK Italy Spain Rest of Europe
Asia Pacific Japan China India Australia South Korea Rest of Asia Pacific
Latin America Brazil Mexico Rest of Latin America
Middle East and Africa
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The key stakeholders in the Biopsy Devices market include:
Biopsy devices product manufacturers Original equipment manufacturers (OEMs) Suppliers, distributors, and channel partners Healthcare service providers Hospitals and academic medical centers Radiologists Research laboratories Health insurance providers Government bodies/organizations Regulatory bodies Medical research institutes Business research and consulting service providers Venture capitalists and other public-private funding agencies Market research and consulting firms
Recent Developments:
In December 2022, Olympus entered into a definitive agreement, subsequently finalizing the acquisition of all outstanding shares of Odin Medical Ltd., a cloud-AI endoscopy company based in the UK. This acquisition was conducted through Olympus' UK subsidiary, Keymed (Medical & Industrial Equipment) Ltd. In November 2021, B. Braun and REVA Medical announced the strategic partnership for the distribution of Fantom Encore - a bioresorbable scaffold for coronary interventions, manufactured with REVA's patented material Tyrocore. B. Braun will start active distribution of the products in Germany and Switzerland in November 2021, with additional countries to follow afterwards.
Frequently Asked Questions (FAQs) of Biopsy Devices Market:
Question 1: What is the expected addressable market value of the global biopsy devices market over a six-year period?
Answer: The global biopsy devices market is expected to reach USD 12.6 billion by 2028 from USD 6.6 billion in 2023, at a CAGR of 14.0 % from 2023 to 2028.
Question 2: Which segment based on product is expected to garner the highest traction within the biopsy devices market?
Answer: Based on the product, the needle-based biopsy instruments segment is expected to grow at the highest rate.
Question 3: What strategies are top market players adopting to penetrate emerging regions?
Answer: The major players in the market use partnerships, expansion, and acquisitions, product launches as important growth tactics.
Question 4: What are the major factors expected to limit the growth of the biopsy devices market?
Answer: Risk of infection and product recalls is expected to limit the growth of the biopsy devices market.
Question 5: Which are the major companies in the biopsy devices market?
Answer: The major companies in the market are Becton, Dickinson and Company (US), Cook Group Incorporated (US), Devicor Medical Products, Inc., (Leica Biosystems) (Germany), Hologic, Inc. (US), Argon Medical Devices (US), B. Braun Melsungen AG (Germany), Cardinal Health, Inc. (US), Olympus Corporation (Japan), Boston Scientific Corporation (US), FUJIFILM Holdings Corporation (Japan), INRAD, Inc. (US), and Medtronic plc (Ireland).
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Report Objectives:
To define, describe, and forecast the biopsy devices market based on product, guidance technique, application, end user, and region To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges) To strategically analyze micro markets with respect to individual growth trends, prospects, and contributions to the total market To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders To forecast the revenue of the market segments with respect to four regions, namely, North America, Europe, the Asia Pacific, Latin America, Middle East and Africa To profile the key players and comprehensively analyze their market ranking and core competencies To benchmark players within the market using a proprietary competitive leadership mapping framework, which analyzes market players on various parameters within the broad categories of market share and product footprint
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