Vancouver, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Emergen research is one of the pioneers in providing strategic insights for emerging and disruptive technologies which are supposed to show exponential growth in the near future., has released a report that delves deep into the dynamic landscape of the Biopsy Devices Market. As organizations strive to improve diagnostic procedures and enhance patient care, the latest analysis from Emergen Research offers valuable insights that are poised to revolutionize the biopsy devices market across various healthcare sectors.
Biopsy devices are medical instruments or tools designed and used by healthcare professionals to extract samples of tissue or cells from a patient's body for diagnostic or investigative purposes. Biopsies are performed to gather information about the presence, nature, and characteristics of various medical conditions, such as cancer, infections, inflammatory diseases, and more.
According to the Emergen Research report, the global biopsy devices market is projected to reach a market value of USD 4.20 billion by 2032, growing at a remarkable CAGR of 7.1% during the forecast period. The report provides a comprehensive analysis of market segmentation, including market size, share, and growth rate for each segment.
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Scope of Research
| Report Details | Outcome |
| Market Size in 2022 | USD 2.11 Billion |
| CAGR (2023–2032) | 7.1% |
| Revenue Forecast to 2032 | USD 4.20 Billion |
| Base Year For Estimation | 2022 |
| Historical Data | 2019–2021 |
| Forecast Period | 2023–2032 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Product type, application, imaging technology, end-use, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | Merit Medical Systems., Danaher, IZI Medical Products, DTR Medical Ltd, Cook, BD., FUJIFILM Holdings Corporation, Hologic, Inc., Cardinal Health, and CONMED Corporation |
| Customization Scope | 10 hours of free customization and expert consultation |
Major Companies and Competitive Landscape
The global biopsy devices market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective biopsy devices solutions. Some major players included in the global biopsy devices market report are:
-
- Merit Medical Systems
- Danaher
- IZI Medical Products
- DTR Medical Ltd.
- Cook
- Becton and Dickinson Company (BD)
- FUJIFILM Holdings Corporation
- Hologic, Inc.
- Cardinal Health
- CONMED Corporation
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Strategic Development
- On 8 July 2022, BillionToOne, a next-generation molecular diagnostics firm, announced the release of its first oncology liquid biopsy tools, Northstar Select and Northstar Response. These products are now available for use in research at a few academic cancer centers.
- On 16 March 2021, IZI Medical Products, LLC (‘IZI’), a leading manufacturer of medical equipment used in interventional radiology and interventional oncology processes, announced the release of its Quick-Core Auto Biopsy System (‘Quick-Core Auto’) for soft tissue biopsy. The Quick-Core Auto is a lightweight, completely automatic biopsy equipment that builds on the tradition of IZI's Quick-Core semi-automatic biopsy system and provides the same level of reliability, precision, and quality.
What Drives the Biopsy Devices Market?
The increasing prevalence of cancer and other chronic diseases is a key driver for the biopsy devices market. As the global burden of cancer continues to rise, there is a growing need for accurate and efficient diagnostic tools. Biopsy devices enable healthcare professionals to obtain tissue samples for precise diagnosis, staging, and monitoring of cancer, thereby facilitating timely and appropriate treatment.
Moreover, advancements in technology have led to the development of minimally invasive biopsy devices, such as needle-based and robotic-assisted devices. These devices offer several advantages, including reduced patient discomfort, shorter recovery times, and improved procedural accuracy. The demand for minimally invasive procedures is driving the adoption of biopsy devices in both hospital settings and outpatient clinics.
Additionally, the growing geriatric population, which is more susceptible to various diseases, including cancer, is fueling the demand for biopsy devices. As the elderly population continues to increase globally, there is a corresponding rise in the number of biopsy procedures performed, driving market growth.
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What Challenges Constrain the Biopsy Devices Market?
One of the major challenges in the biopsy devices market is the high cost associated with these devices. Advanced biopsy technologies and equipment can be expensive, making them less accessible, particularly in developing regions with limited healthcare budgets. The high cost of biopsy devices poses a significant barrier to market growth, especially in resource-constrained settings.
Moreover, the lack of skilled healthcare professionals proficient in performing biopsy procedures is a constraint for market expansion. Biopsy procedures require expertise and precision to ensure accurate sample collection and minimize patient discomfort. The shortage of trained professionals proficient in biopsy techniques hampers the adoption of biopsy devices, particularly in regions with limited access to specialized healthcare services.
Unveiling Geographic Patterns in the Biopsy Devices Market
The biopsy devices market report provides a detailed analysis of the leading geographies, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Currently, North America dominates the biopsy devices market, accounting for the largest share globally. The region's market leadership can be attributed to the presence of well-established healthcare infrastructure, high healthcare expenditure, and early adoption of advanced biopsy technologies. The United States and Canada are witnessing significant investments in biopsy devices to improve diagnostic capabilities and enhance patient outcomes.
In Europe, countries such as Germany, the United Kingdom, and France are major revenue generators in the biopsy devices market. The region's focus on technological advancements and the implementation of screening programs for early disease detection are driving market growth.
Meanwhile, the Asia Pacific region is expected to witness the fastest growth during the forecast period. Increasing healthcare expenditure, rising awareness about cancer screening, and improving healthcare infrastructure are propelling the demand for biopsy devices in countries like China, India, Japan, and Australia.
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Segments Covered in Report
For the purpose of this report, Emergen Research has segmented global biopsy devices market on the basis of product type, application, imaging technology, end-use, and region:
- Product Type Outlook (Revenue, USD Billion; 2019-2032)
- Needle-based Biopsy Guns
- Vacuum-assisted Biopsy (VAB) Devices
- Core Needle Biopsy (CNB) Devices
- Fine Needle Aspiration Biopsy (FNAB) Devices
- Biopsy Guidance Systems
- Biopsy Forceps
- Localization Wires
- Other Products
- Needle-based Biopsy Guns
- Application Outlook (Revenue, USD Billion; 2019-2032)
- Breast Biopsy
- Prostate Biopsy
- Liver Biopsy
- Lung Biopsy
- Gastroenterology Biopsy
- Others
- Imaging Technology Outlook (Revenue, USD Billion; 2019-2032)
- MRI Guided Biopsy
- Ultrasound Guided Biopsy
- CT Scan
- Stereotactic Guided Biopsy
- Others
- End-Use Outlook (Revenue, USD Billion; 2019-2032)
- Hospitals and Clinics
- Diagnostic and Imaging Centers
- Others
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
- North America
Closing Statement
The biopsy devices market is poised for transformative growth, driven by the increasing prevalence of cancer, advancements in technology, and the growing geriatric population. With the potential to revolutionize diagnostic procedures and improve patient outcomes, the adoption of biopsy devices and related technologies is becoming indispensable. As key players in the market, such as Merit Medical Systems, Danaher, IZI Medical Products, and DTR Medical Ltd, continue to innovate and expand their product offerings, the market is projected to reach a value of USD 4.20 billion by 2032, growing at a CAGR of 7.1%. While challenges such as high costs and the shortage of skilled professionals persist, the benefits of early disease detection, improved diagnostic accuracy, and enhanced patient care are propelling the biopsy devices market towards a future of advanced and precise diagnostic solutions.
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