Biopsy Devices Market Overview
Biopsy Devices Market size is estimated to grow at a CAGR of 5.9% during the forecast period (2022-2029).
A biopsy is the removal of tissue from any part of the body to examine it for disease. Some may remove a small tissue sample with a needle while others may surgically remove a suspicious nodule or lump. The tissue samples can be taken from any part of the body. Biopsies are performed in several different ways. Some biopsies involve removing a small amount of tissue with a needle while others involve surgically removing an entire lump, or nodule, that is suspicious.
The global biopsy devices market growth is driven by the increasing frequency of various types of cancers across the globe. The rising need for early Biopsy Types of various diseases like cancer to avoid the death of the patient, and modernization of healthcare infrastructure are also driving the growth of the biopsy devices market.
The increasing preference for minimally invasive procedures will drive the market growth
The demand for minimally invasive biopsy procedures is rising at a significant rate in the market. The different types of technologies and products, such as biopsy guiding systems, needle-based biopsy guns, and vacuum-assisted devices are anticipated to witness high growth during the forecast period.
Risks involved in the biopsy process will hamper the market growth
Biopsies carry a small risk of bleeding and infection. Needle biopsy carries a small risk of bleeding and infection at the site where the needle was inserted. Some mild pain can be expected after a needle biopsy, though it is usually controlled with over-the-counter pain relievers. These factors are hampering the growth of the market in the forecast period.
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COVID-19 Impact Analysis
The COVID-19 pandemic has negatively impacted healthcare systems globally and majorly on the biopsy devices market. As per the article published in Cancer Connect 2020, doctors from Dana Farber Cancer Institute determined that during the COVID-19 pandemic, there was a 46% decrease in the diagnoses of cancer.
The Centers for Disease Control and Prevention (CDC) and many medical professional organizations recommended that cancer screening and other health prevention services, along with elective surgeries, be postponed unless the risks outweighed the benefits and secure the hospital infrastructure for the Application of COVID-19 patients. Thus, the COVID-19 pandemic has impacted the biopsy devices market.
By Body Part:
- Breast Biopsy Devices
- Colorectal Biopsy Devices
- Lung Biopsy Devices
- Liver Biopsy Devices
- Interventional Cardiology
- Interventional Oncology
- Other Applications
By Biopsy Type:
- Needle Based
- MRI Based
- X-Ray Based
By End User:
- Research Centres
- Cancer Hospitals
The needle-based segment is expected to grow at the fastest CAGR during the forecast period
Needle-based biopsy holds the leading share in the market due to the increasing demand for these instruments, for acquiring samples from soft tissues of internal organs, such as breasts, kidneys, and lungs. A needle biopsy may be called for when a doctor feels an abnormal lump or when imaging scans show the presence of abnormalities in an area of the body. Lumps of the breast, thyroid or lymph nodes are often checked using a needle biopsy. Needle biopsy may be used to take tissue or fluid samples from muscles, bones, and other organs, such as the liver or lungs.
This is poised to contribute to the growth of the overall market during the forecast period. According to the National Cancer Institute (NCI), in 2019, it was estimated that there were 61,780 cases of leukemia and an estimated 22,840 people died due to leukemia in the United States 2019. Hence, the above benefits of needle-based biopsy guns coupled with the increasing demand for minimally invasive procedures will spur segmental growth.
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North America region holds the largest market share of the global biopsy devices market
North America is expected to dominate the market in the forecast period. The established market players in the region will continue to account for a substantial share in the market throughout the forecast period. The number of biopsies performed in the United States is also found to be the highest, helping in the expansion of the overall market.
The American Cancer Society’s 2020 report, estimates that about 60,530 new cases of leukemia and approximately 23,100 deaths from leukemia are expected to occur in the United States in 2020. In the USA, for patients not covered by health insurance, the cost of a skin biopsy ranges from $150 to $1,000. Furthermore, sophisticated healthcare infrastructure and the growing prevalence of infections will positively impact biopsy devices in the forecast period.
The biopsy devices market is highly competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Becton, Dickinson and Company, Hologic Inc., Devicor Medical Products Inc., Cook Medical, Boston Scientific Corporation, Intact Medical Corporation, Gallini Medical, TSK Laboratory Europe BV, Argon Medical Devices, and Medtronic among others.
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