Biopsy Devices Market Growth is Expected to Account for 6.8% CAGR to Gain USD 4.4 Billion by 2032

Research Reports

Sep 13, 2023

Biopsy Devices Market Research Report Information By Product Type (Biopsy Guns, Biopsy Guidance System, Biopsy Needles [Vacuum-Assisted Biopsy (VAB) Devices, Fine Needle Aspiration Biopsy (FNAB) Devices, Core Needle Biopsy (CNB) Devices], Biopsy Forceps, Localization Wires, and Others), By Application (Breast Biopsy, Prostate Biopsy, Liver Biopsy, Lung Biopsy, Gynecological Biopsy, and Others), By Guidance Technique (Ultrasound-Guided Biopsy, Stereotactic Guided Biopsy, MRI-Guided Biopsy, CT Guided Biopsy, and Others), By End User.

According to MRFR analysis, the global Biopsy Devices Market is expected to register a CAGR of 6.8% from 2023 to 2032 and hold a value of over USD 4.4 billion by 2032.

Biopsy procedures are a cornerstone of modern healthcare, playing a critical role in diagnosing and monitoring various medical conditions, including cancer. Biopsy devices are essential tools in the hands of healthcare professionals, enabling them to obtain tissue samples for analysis and diagnosis.

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The biopsy devices market has witnessed significant growth in recent years, driven by advancements in technology, increasing cancer prevalence, and a growing awareness of the importance of early diagnosis. This article provides an in-depth overview of the biopsy devices market, including its current state, key players, emerging trends, and future prospects.

Segmentation

The segmental evaluation of the biopsy devices market is done by application, product type, and end user.

The application-based segments of the biopsy device market are needle biopsy, surgical biopsy, cancer diagnosis, skin biopsy, and bone marrow biopsy among others. The increase in need for cancer diagnosis can bolster the biopsy device market in the near future.

The end users-based segments of the biopsy devices market are diagnostic centers, hospitals, academic & research institutes, and specialty clinics among others. The specialty clinics are anticipated to win high profits.

The product type-based segments of the biopsy device market are biopsy guns, biopsy guidance system, forceps, and biopsy needles among others. The biopsy guns segment can win considerable traction. The increase in the adoption of biopsy guidance system by diagnostics can boost the market growth.

Key Players

Some of the top market players are Argon Medical Devices (US), BD (US), Cook Medical (US), CONMED Corporation (US), Olympus Corporation (Japan), Hologic, Inc. (US), Cardinal Health Inc. (US), Integra LifeSciences (US), Medtronic plc (US), Mammotome (US), INRAD (US) and Trivitron Healthcare (India)

Regional Analysis

North America is dominating the global biopsy devices market. Factors substantiating the market growth include extensive uptake of technologically advanced medical devices, increasing governmental support for R&D activities and high expenditures for health care.

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Europe region is another lucrative market for biopsy devices. This growth attributes to the increasing emphasis on the development of advent diagnostic devices, rising government support for R&D activities with the increased funding. Besides, the rising numbers of specialty services offered by various healthcare providers provide impetus to the market growth in the region.

The Asia Pacific is emerging as a promising market for biopsy devices, growing rapidly. Increasing incidents of diabetes, along with the rising number of kidney transplant procedures in urology centers are fostering the market growth. Furthermore, factors such as the increasing demand for quality devices in the healthcare and rapidly developing healthcare technology is expected to lead the use of advanced equipment, which, in turn, is expected to fuel the market growth in APAC region.

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