Smart Biopsy Device Market Size is Anticipated to Reach USD 3.72 Billion by 2026 : Grand View Research Inc.

Smart Biopsy Device Market Size is Anticipated to Reach USD 3.72 Billion by 2026 : Grand View Research Inc.

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According to report published by Grand View Research, The global smart biopsy devices marketsize was valued at USD 2.40 billion in 2018 and is anticipated to expand at a CAGR of 5.6% over the forecast period.

The global smart biopsy device market size is anticipated to reach USD 3.72 billion by 2026, registering a CAGR of 5.6% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand for minimally invasive biopsy procedure coupled with technological advancements in smart biopsy device is anticipated to boost the growth.

Minimally Invasive Breast Biopsy Technique (MIBT) allows diagnosis of breast cancer without taking patient to surgery, preserves normal breast tissue, and decreases the number of operations required for cancer treatment. In addition, technological advancements in MIBT, such as needle-based biopsy guns to obtain cells, core needles biopsy to obtain sample tissue, specialized biopsy device that utilize vacuum and cutting device to remove sample tissues. Thus, minimally invasive procedures such as MIBT are recommended more as compared to conventional biopsy methods due to minimal risk factor. This is projected to drive the market for smart biopsy devices in near future.

Siemens Healthineers mammography system enables healthcare providers to improve their biopsy workflow as it uses 3D HD biopsy to obtain effective biopsies at a lower dose. It also offers automated breast density measurement with titanium enhanced mammography exams. Such technological advancements have improved biopsy procedure workflow by reducing morbidity. They have also increased patient satisfaction which is expected to bode well for the growth of the market.

U.S. smart biopsy device market size, by application, 2015 - 2026 (USD Billion)

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Key Takeaways Of The Report :

  • Breast cancer dominated the application segment in 2018, owing to rising prevalence of the disease. Moreover, rising risk of breast cancer due to changing lifestyle and environmental factors is expected to contribute to this growth

  • Skin cancer segment is expected to register the fastest CAGR over the forecast period, owing to growing abnormal cells in epidermis and rising mutations caused by UV radiation

  • North America dominated the smart biopsy devicemarket with the highest revenue share in 2018 owing to increasing cancer cases coupled with growing awareness regarding the diagnosis and treatment of the disease

  • The key players are introducing technologically advanced products to gain competitive edge in the market. For instance, in November 2018, Boston Scientific Corporation recommended offer to acquire BTG plc., company that manufactures devices used in minimally invasive biopsy procedures which can cure cancer and vascular diseases. This acquisition will enhance their important areas of unmet needs such as pulmonary embolism and cancer

Global smart biopsy device market share, by region, 2018 (%)

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Grand View Research has segmented the global smart biopsy device market on the basis of application and region:

Smart Biopsy Device Application Outlook (Revenue, USD Million, 2015 – 2026)

  • Breast Cancer

  • Skin Cancer

  • Liver Cancer

  • Prostate Cancer

  • Others

Smart Biopsy Device Regional Outlook (Revenue, USD Million, 2015 – 2026)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • Russia

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Singapore

    • South Korea

  • Latin America

    • Mexico

    • Brazil

    • Argentina

    • Colombia

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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