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Global Biopsy Devices Market Forecast 2018-2024| $3 Bn by 2024

Author : Rahul Sankrityayan | Published Date : 2019-04-22 

Global Biopsy Devices Market is set to exceed USD 3.0 billion by 2024; according to a new research report by Global Market Insights. Rising prevalence of cancer and infections will stimulate biopsy devices market growth over the forthcoming period. Infectious diseases are rapidly emerging worldwide due to changing environmental conditions and rising population. According to World Health Organization, 50,000 people worldwide die from infectious diseases. In addition, infections with new and unknown causative agents have increased tremendously during recent years. Biopsy is thus a crucial tool for histopathological examination of tissue. Rising number of kidney disorders, infections and rising cancer incidence should increase the market size over the upcoming period.
 
Growing awareness regarding breast cancer treatment and diagnosis will support increase in biopsy devices market size in upcoming years. Several countries hold campaigns and programs for early diagnosis of breast cancer. In U.S., early detection camps are set-up in rural areas wherein diagnosis of cancer is done through biopsy of suspicious lesions and oral examinations, every four months. Such initiatives will accelerate the adoption rate of biopsy devices, thereby positively impacting biopsy devices business growth in foreseeable future.

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Speaking of the product domain defining biopsy devices industry, research classifies this business sphere in terms of biopsy needles, biopsy forceps, biopsy guidance systems, and needle-based biopsy guns. Judging by the statistics provided below, it would not be incorrect to state that market players are likely to garner profits through the sales of guidance systems.

  • Guidance systems dominated the overall biopsy devices industry in 2015, having held more than 43% of the total revenue share.
  • With a base valuation of USD 755.5 million, biopsy devices market size from guidance systems was pegged at the topmost position in 2015, successively followed by needle-based biopsy guns and biopsy needles respectively.
  • Biopsy devices industry share from guidance systems is forecast to surpass a valuation of USD 1.1 billion by 2024, increasingly influenced by the transformative trend of deploying robotics in these devices.

Robotics technology plays a vital role in shaping the trends of guidance system biopsy devices market. For instance, recently, a 3D-printed robot model has been developed by the University of Twente, that may, in all probability revolutionize the biopsy devices industry. Tentatively called the Stormram 4, this robot has been designed to combat the inefficiencies depicted by manual MRI-guided breast biopsy procedures. While it may take a few years to gain approval post clinical trials, it is likely to bring about a massive change in the outlook of biopsy devices market from guidance systems.
 
Guidance systems market is thus, certain to emerge as a potential business ground, given the novel product innovations launched by business players. The Affirm breast biopsy guidance system by Hologic, for instance, is endowed with high-grade 3D biopsy capabilities, enabling radiologists to conveniently detect areas to perform biopsy, accurately target the same, and deliver consolidated results. Another lucrative product segment constituting the product landscape of biopsy devices industry is the biopsy needle. In fact, it is preferred by most of the physicians owing to the factors such as minimal associated pain and accurate cancer detection.

Considering the global prevalence of cancer, biopsy devices market is expected to penetrate most of the geographies worldwide. Nonetheless, given that technology plays a vital role in the development of this business space, it is indisputable that developed economies such as Europe and North America will accumulate a major chunk of biopsy devices industry share. In fact, statistics claim UK and Germany to have contributed more than 22.8% and 28.6% toward Europe biopsy devices market share in 2015. Subject to the growing proliferation of technology and a highly sophisticated healthcare architecture, it is expected that Europe biopsy devices industry will witness a modest growth over 2016-2024. Germany, the developed hub of the continent, is slated to contribute more than 28% toward the overall share by 2024.

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Chapter 1.  Methodology

1.1. Methodology

1.2. Market definitions

1.3. Forecast parameters

1.4. Data sources

1.4.1.  Secondary

1.4.1.1. Paid sources

1.4.1.2. Unpaid sources

1.4.2.  Primary

Chapter 2.  Executive Summary

2.1. Biopsy devices industry 3600 synopsis, 2013 – 2024 (USD Million)

2.1.1.  Business trends

2.1.2.  Product trends

2.1.3.  End-use trends

2.1.4.  Regional trends

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Chapter 3.  Biopsy Devices Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2013 - 2024

3.3. Industry impact forces

3.3.1.  Growth drivers

3.3.1.1.  Rising incidence of cancer globally

3.3.1.2.    Technological advancements

3.3.1.3.    Favourable reimbursement scenario

3.3.1.4.    Increasing awareness regarding breast cancer

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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