Biopsy Devices Market Worth USD 2.4 Billion by 2020

February 22, 2017

The worldwide biopsy devices market is expected to grow at a nearly 6.5% CAGR over the forecast period (2012 to 2020). By 2020, the industry may report revenues worth almost USD 2.4 billion. High prevalence of infectious diseases and serious illnesses like cancer and kidney diseases can propel demand in the years to come. The removal of body tissues to rule out the growth of abnormal cells is known as biopsy. Biopsies are conducted quite frequently these days because of high incidence of deadly diseases.

Growing geriatric population is a prominent factor that may fuel the industry in the years to come. Different types of biopsies in cancer diagnosis are incision, skin, excision, and shave. Popularity of minimally invasive biopsy procedures can further contribute to global demand. The biopsy devices industry is gradually expanding in most emerging nations because of greater awareness, high incomes, investment in R&D, and high healthcare expenditure.

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Products and regions are two parameters based on which the global Biopsy Devices Market is categorized. According to products, the industry is divided into biopsy forceps, biopsy guidance system, needle-based biopsy guns, biopsy needles, and others. “Others” refers to biopsy punches, curettes, and brushes. Guidance systems held the highest share in 2013 owing to high prices of robotic guidance systems. Popularity of accurate & minimally invasive devices and high incidence of cancer are two key factors that drive this segment. It is influenced by technological advancements and the surging demand for user-friendly products.

Needle-based biopsy guns is a highly profitable segment because of surging demand for the same for obtaining soft tissue samples from bone marrows, kidneys, prostate glands, lungs, and breasts. Needle-based biopsy guns are further segmented into core needle, fine needle aspiration, and vacuum assisted biopsy devices. Biopsy forceps are of two types, namely hot and cold. The cold biopsy forceps segment can expand considerably in the years to come because these help prevent the onset of infectious diseases. The market for robotic guidance systems is projected to expand remarkably over the forecast period because of surging disposable incomes and substantial investments in technology.

Geographically, the global Biopsy Devices Market is classified into Europe, Asia Pacific, North America, and Rest of the World. North America held maximum shares in 2013 in terms of revenue. The region may continue dominating the overall industry throughout the forecast period because of rising prevalence of cancer and greater awareness about biopsy devices. The Asia Pacific market may grow rapidly because of a booming population and an expanding medical tourism industry. Other regional drivers are rising disposable incomes, unmet medical needs, and gradual improvements in healthcare infrastructure. Key companies operating in the worldwide industry are DTR Medical; Cardinal Health Inc.; Hologic Inc.; Devicor Medical Products Inc,; and C.R. Bard Inc.

Researchers from the University of Adelaide have developed a novel medical device that could lead to safer brain surgeries. It is a smart needle that helps spot blood vessels in the body. A miniature imaging probe placed inside a brain biopsy needle enables surgeons to see those blood vessels that are prone to risks. These needles on being inserted avoid causing fatal bleeds during the procedure.

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