Biopsy Devices are those equipment’s used during biopsy procedures from the removal of tissues of a body part to examine it for the disease. Biopsy procedures are carried out for the diagnosis of cancer, kidney and lung diseases among others. The global biopsy devices market is growing pervasively over the last couple of decades.
Factors like the increasing prevalence of kidney diseases and transplants are fostering the market growth to an extent. Besides, kidney diseases & disorders, and other diseases such as chronic high blood pressure & diabetes that act as a risk factor of kidney damages or failures are supporting the market growth, creating the demand for the better diagnostic and treatment methods.
Acknowledging the vast potential, the market demonstrates to grow further in the future, Market Research Future (MRFR) in its recently published study report asserts that the global biopsy devices market will register spectacular growth records by 2022, reaching USD 2.4 BN by 2022 at approximately 6% CAGR throughout the forecasted period (2016 – 2022).
Advancement of technology such as the proliferation of the Internet of Things (IoT) is fostering the market growth, bringing about smart and connected devices. Additionally, factors such as the changing lifestyle led by the growing urbanization are propelling the market growth. Certainly, the improving economic conditions, worldwide are acting as key driving forces pushing the market growth up, enabling access to the quality of life and improved healthcare.
Furthermore, the increasing number of biopsy procedures and rising demand for new techniques for the diagnosis of chronic diseases along with the advancements in surgeries, fuel the market growth.
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On the flip side, factors such as prohibitive costs of these devices are some of the key factors impeding the market growth. Also, the increasing number of spurious and counterfeit devices floating in the market is reducing the total market revenues by displacing standard devices off the market.
Nevertheless, new products and services available in the developing and well as developed countries and the presence of well-established market players will support the market growth during the review period.
Global Biopsy Devices Market- Competitive Analysis
The highly competitive market of biopsy devices appears to be fragmented due to many players forming a competitive landscape. The demand for these devices has opened doors for the development of new devices, offering opportunities for the new entrants and leaders alike. At the same time, availability of spurious and counterfeit devices is challenging these established brands by displacing standard devices off the market and thus reducing the total market revenues.
Fervent players driving the market for the biopsy devices include Precision Biopsy, LLC. (US), Scion Medical Technologies, LLC. (UK), Cook Medical, Hologic, Inc., Leica Biosystems, Argon Medical Devices, Inc., C. R. Bard, Inc., Creganna, Integra LifeSciences Corporation, and Focal Therapeutics, Inc.
November 08, 2018 – STRATEC Consumables GmbH (Austria), an OEM supplier of smart polymer-based consumables to in-vitro diagnostics (IVD), life sciences, and medical technology industries announced the signing of a supply agreement covering a customized microfluidic polymer chip with Vortex BioSciences (US), a NetScientific portfolio firm. This chip is a main component of the VTX-1 system, an automated liquid biopsy platform which provides a simple, label-free isolation of circulating tumor cells directly from a tube of blood.
Global Biopsy Devices Market- Segments
MRFR has segmented the analysis into four key dynamics; for better understanding: –
By Product Type: Biopsy Guns, Biopsy Guidance System, Biopsy Needles, and Forceps among others.
By Application: Surgical biopsy, Skin biopsy, Needle biopsy, Bone marrow biopsy, and Cancer Diagnosis among others.
By End-user: Hospitals, Specialty Clinics, Diagnostic centers, Academic & Research Institutes among others.
By Regions: Europe, North America, APAC and Rest-of-the-World.
Global Biopsy Devices Market- Regional Analysis
The North American region dominates the global biopsy devices market owing to the extensive adoption of technologically advanced medical devices, increasing governmental support for R&D activities, and high health care expenditures. Furthermore, heading with the increasing prevalence of diabetes, kidney diseases, and renal failures, the biopsy devices market in North America is expected to reach USD 2.4 BN by 2022.
The European region is another lucrative market for biopsy devices. The market is driven by the increasing emphasis on the development of advanced diagnostic devices, increasing funding and support from the government for R&D activities. Simultaneously, the rising numbers of specialty services offered by various healthcare providers foster the growth in the regional market.
The Asia Pacific region is rapidly emerging as a promising market for biopsy devices. Factors such as growing incidences of diabetes, along with the rising number of urology centers and kidney transplant procedures are providing impetus to the market growth. Additionally, factors such as the rapidly developing healthcare technology along with the increasing demand for quality devices is expected to fuel the market growth in the APAC region.
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Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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