A significant increase in Cancer Cases across the globe is Escalating the Growth of the Biopsy Devices market

Biopsy tools are the instruments used by surgeons, radiologists, and other medical professionals to identify inflammatory or cancerous diseases. These tools are used to stop artifacts from being crushed and tissue fragmentation. As a result, they are frequently used to perform MRI-guided, core & vacuum-assisted, and needle-based biopsies of various body parts because they are lightweight and highly sensitive. The rising preference for less invasive procedures, an increase in cancer cases globally, and government initiatives for diagnosis are the driving forces behind the growth of the biopsy devices market. Breast, skin, and prostate cancer have all been extensively diagnosed using biopsies, which have been one of the main diagnosis methods for cancer disorders. According to a report released by the World Health Organization (WHO) on April 3rd, 2003, the number of new cases of cancer could reach 15 million by the year 2020, representing a further 50% rise in cancer rates.

According to Marketlook Consulting’s research report “Global Biopsy Devices market Analysis, 2021”, the Global Biopsy Devices market is anticipated to grow at a CAGR of 8.5% during 2022-29 The market would reach USD 3.8 Bn by 2029.

Based on Product Type, the primary categories for biopsy devices are biopsy forceps, aspiration biopsy needles, and needle-based biopsy instruments like guns, etc. the needle-based biopsy grabbed the major market share and dominated the market in 2021. Emerging number of patients of gastrointestinal tract disease, cancer etc., is contributing to the growth of this segment.

Based on End-User Type, biopsy devices are predominantly used in hospitals and clinics to diagnose cancerous diseases as well as in academic and research institutions for study purposes.

“Global Biopsy Devices market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Biopsy Device providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.      

North America Dominated the Market

Based on Leading regions, North America dominated the global Biopsy Devices market in 2021 and is projected to maintain its dominance during the forecasted period 2022-29 as the United States is found to perform the most biopsies, which contributes to the growth of the market as a whole. According to projections from the American Cancer Society, there will be about 60,650 new cases of all types of leukemia and 24,000 leukemia-related deaths in the United States in 2022. Additionally, over the anticipated timeframe, the development of sophisticated healthcare infrastructure and the rising incidence of infections will favorably affect the market for biopsy devices in the forthcoming period as stated in the Marketlook Consulting research report “Global Biopsy Devices market Analysis, 2021”. 

According to Marketlook Consulting’, the key players with a considerable market share in the global Biopsy Devices market are Medtronic plc, Olympus Corporation, Cardinal Health, Inc B. Braun Melsungen AG, Argon Medical Devices, Leica Biosystems, Devicor Medical Products, Inc., Cook Group Incorporated, Becton, Dickinson, and Company, C. R. Bard, Inc. 

Market Segmentation:

1. By Product Type (Needle based Biopsy guns, Biopsy Needles, Biopsy Forceps, Others)
2. By End Users (Hospitals and clinics, Academic and Research institutes)
3. By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa)
4. By Company (Medtronic plc, Olympus Corporation, Cardinal Health, Inc B. Braun Melsungen AG, Argon Medical Devices, Leica Biosystems, Devicor Medical Products, Inc., Cook Group Incorporated, Becton, Dickinson, and Company, C. R. Bard, Inc.)

Key questions answered in the study:

1. What are the current and future trends of the Biopsy Device industry?
2. How the industry has been evolving in terms of end-user demand and product advancements?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Biopsy Device industry?
5. What is the customer orientation, purchase behavior, and expectations from the Biopsy Device firms across various regions?