Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Breast Biopsy Devices Market by Type (Needles, Tables, Assay Kits, Liquid Biopsy), Procedure (CNB, FNAB, VAB, Surgical), Technique (Stereotactic, USG, MRI), Application (Screening, Treatment), End User (Hospitals, Clinic) & Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global breast biopsy devices market is projected to reach USD 2.6 billion by 2028 from USD 1.6 billion in 2023, at a CAGR of 10.0% from 2023 to 2028
The market growth is propelled by various factors, including the growing prevalence of breast cancer, the increasing implementation of breast cancer screening programs, favorable reimbursement settings, heightened awareness of early breast cancer detection, and rising demand for minimally invasive and non-invasive procedures. These factors are key drivers of market expansion, presenting significant business opportunities in the industry.
The biopsy needles sub-segment to hold the largest share of the market in 2023.
Based on type, the breast biopsy devices market is segmented into biopsy needles, guidance systems, biopsy tables, localization wires, assay kits, liquid biopsy instruments, and other devices. The biopsy needles sub-segment held a major share of the market. The advantages offered by the substantial market dominance of this segment can be primarily attributed to the increasing occurrence of breast cancer and the rising rate of breast cancer diagnosis in emerging markets. Moreover, supportive government initiatives, such as the establishment of breast cancer screening programs and awareness campaigns, are anticipated to drive the adoption of breast biopsy procedures further.
The therapy selection application segment is projected to register the highest growth during the forecast period.
Based on application, the near breast biopsy market is broadly categorized into early cancer screening, therapy selection, treatment monitoring, and recurrence monitoring.
The significant growth of the segment is attributed to the favorable reimbursement scenario and availability of advanced healthcare infrastructure. The emergence of precision medicine and personalized cancer treatment based on genetic analysis of tumor tissue over the past few decades has resulted in more specific treatment options which is further expected to influence the growth of the segment during the forecast period.
The liquid breast biopsy segment is projected to register the highest CAGR during the forecast period.
Based on procedure, the breast biopsy market is broadly categorized into needle breast biopsy, open surgical breast biopsy, and liquid breast biopsy. The substantial growth of this segment during the review period can be attributed to the approvals and launches of new products.
Companies operating in the liquid breast biopsy market are actively investing in clinical trials and research through funding and grants, which will fuel further market expansion. These initiatives by industry players are expected to drive the growth of the liquid breast biopsy segment.
The market in the North American region is expected to witness the highest growth during the forecast period.
The breast biopsy market in the North American region is expected to hold a major share during the forecast period, primarily due to the high healthcare spending in the region and the rising prevalence of target diseases. Moreover, continuous advancements in technology, increasing incidence rates of breast cancer, favorable reimbursement conditions, and the implementation of new breast density notification laws in the US will further boost market growth.
Competitive landscape
The prominent players in the breast biopsy devices market include Hologic Inc. (US), Danaher Corporation (US), Argon Medical Devices (US), Merit Medical Systems (US), Menarini-Silicon Biosystems (ITL), Becton Dickinson, and Company (US), Sterylab S.R.L ( Italy), Biocept, Inc. (US), Bio-Rad Laboratories, Inc. (US), F. Hoffmann-La Roche Ltd (Switzerland), Guardant Health, Inc. (US), NeoGenomics (US), Sysmex Inostics (Germany), Qiagen (Germany), Exact Sciences Corporation (US).
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 260 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $1.6 Billion |
| Forecasted Market Value (USD) by 2028 | $2.6 Billion |
| Compound Annual Growth Rate | 10.0% |
| Regions Covered | Global |
Companies Mentioned
- Argon Medical Devices
- Becton, Dickinson, and Company
- Bio-Rad Laboratories, Inc.
- Biocept, Inc.
- Cardiff Oncology Inc.
- CP Medical
- Danaher Corporation
- Exact Sciences Corporation
- F. Hoffmann-La Roche Ltd.
- Fluxion Biosciences, Inc.
- Fujifilm Holdings Corporation
- Guardant Health, Inc.
- Hologic, Inc.
- Illumina, Inc.
- Inrad, Inc.
- IZI Medical Products
- Menarini Silicon Biosystems Spa
- Merit Medical Systems
- Myriad Genetics, Inc.
- Neogenomics Laboratories, Inc.
- Qiagen
- Remington Medical Inc.
- Sterylab S.R.L
- Sysmex Inostics, Inc. (A Subsidiary of Sysmex Corporation)
- Thermo Fisher Scientific
For more information about this report visit https://www.researchandmarkets.com/r/6blscv
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