Report Overview

Global Biopsy Devices Market – Industry Trends & Forecast Report 2027

The global biopsy devices market is estimated to grow at a CAGR of 4.3% during the forecast period 2021-2027. As per the analysis, the global biopsy devices market was valued at USD 3.01 billion in 2020 and is anticipated to reach USD 4.07 billion by 2027. The increasing rates of cancer, such as breast, prostate, and lung cancer, along with technological advancements such as 3D optical biopsies, MRI-targeted biopsies, and Ultrasound-guided biopsies have been fueling the growth of the biopsy devices market. Moreover, the rising awareness about the diagnosis of chronic diseases fosters the demand for integrated biopsy technologies such as stereotactic-guided biopsy further fuels the market growth.

Source: BlueWeave Consulting

Global Biopsy Devices Overview:

The biopsy is a process of surgically removing the  tissues from an organ to identify the presence or extent of a disease, especially cancerous and inflammatory conditions. It is usually performed by surgeons, radiologists, and interventional cardiologists. Biopsies can be executed on any organ using precise biopsy devices for a confirmatory cancer test and celiac diseases.

The use of each biopsy device varies according to the type of organ under consideration. Conventional biopsy devices can complement progressive imaging technologies, such as MRI-guided biopsy, stereotactic-guided biopsy, ultrasound-guided biopsy, CT scan, and others, to execute biopsy with correctness and minimal invasiveness. These integrated procedures are used for conducting biopsies on body organs such as the lungs, liver, and kidneys.

Global Biopsy Devices Forecast and Trend

Growth Drivers

Rising Cases of Cancer

The growing occurrence of cancer universal and the occurrence of untapped opportunities in developing economies, especially of Asia Pacific, along with refining healthcare infrastructure in these regions, are amid the key trends stoking market growth. According to The World Health Organization, there was a total of 19.3B cancer cases in 2020. By 2040, the cases are likely to reach30.2B.

Lung, prostate, colorectal, stomach and liver cancer are the most common types of cancer in men, while breast, colorectal, lung, cervical, and thyroid cancer are the most common among women. Surging demand for effective diagnostic procedures for cancer is also predictable to work in favor of the market.

R&D in the Medical Field

Technologically-advanced products such as the Aspiration Biopsy Syringe Gun by INRAD Inc. also support the sector’s development. Additionally, the burgeoning demand for vacuum-assisted devices is driving the biopsy devices market. These manual, semi-automatic, and automatic devices come with a spring-loaded mechanism for minimally invasive insertion to obtain laboratory testing samples. Such devices offer high efficiency and accuracy in the withdrawal of large volumes and excellent quality tissue samples with minimal passes through the skin.

Continual research and development in medical devices have led to the introduction of various novel gear and systems in the market, such as robotic medical systems. Robotic guidance systems offer multiple benefits in a process such as growing the total number of surgeries executed by a surgeon and reducing patient’s length of stay in the hospital. These systems are used to reduce the entire procedural duration to safeguard minimal patient discomfort. The aforementioned are the key factors driving the overall market growth.

Restraints

Financial Constraint

The rise in the cost of cancer treatment is triggering the need for actual diagnostic procedures. Government and healthcare regulatory bodies worldwide are engaged continuously in curbing high expenses related to the treatment of cancer. Primary and secondary healthcare centers in emerging nations are boosting patients to experience regular diagnostic examinations. On average, the cost of biopsy is very expensive, which is hampering the market growth.

Impact of COVID-19 in the industry

The World Health Organization (WHO) now considers the novel coronavirus (COVID-19) to be a pandemic. Developing countries are particularly at risk as COVID-19 due to a reduction in labor force, affect economies and livelihoods as well as reduction in production operations. Due to high infection rate and adverse impact on public health systems, various governments have enforced nationwide lockdowns significantly impacting manufacturing supply chains, trade and related services. Considering that most of these industries have been impacted due to the lockdown, it is expected that the demand for would also get impacted going forward.

Global biopsy devices saw a downfall in the market due to COVID-19. Moreover, limited access to clinics, combined with social distancing norms, and complete lockdown declared by several countries, resulted in a slow-down in patient flow and referral, which in turn has impacted the market growth.

During the COVID-19 epidemic, cancer screenings fell sharply. Repeated screenings for Cervical cancer went down by 68 percent across the USAin the first 15 weeks of 2020, while breast cancer checking went down by 17 percent, with more significant declines in areas where the outbreak was sturdiest. Amid patients with cancer and COVID-19, 30-day all-cause humanity was high and related to general risk factors and risk factors exclusive to cancer patients. Longer follow-up is desirable to have a comprehensive understanding of the effect of COVID-19 in patients with cancer, including the capability to last specific cancer treatments.

Global Biopsy Devices Market: By Product

Based on product, the biopsy devices market is segmented into (i) needle-based biopsy instruments, (ii) biopsy forceps, (iii) localization wires, and (iv) other products.

The needle-based biopsy instruments held the largest share in biopsy devices market share in 2020. Furthermore, this section is also likely to grow at the fastest rate during the estimated period due to a surge in the number of breast cancer, gastrointestinal tract diseases, and soft tissue sarcomas.

Aspiration biopsy needles are non-invasive and facilitate better sample collection compared to core biopsy devices, which require an incision. Furthermore, core biopsy devices are higher in cost than vacuum-assisted biopsy devices and aspiration biopsy needles driving the market growth in the product segment.

Global Biopsy Devices Market: By Application

Based on application, the market is classified into (i) breast biopsy, (ii) gastrointestinal (GI) biopsy, (iii) prostate biopsy, (iv) liver biopsy, (v) lung biopsy, (vi) kidney biopsy,  (vii) gynecological biopsy, and others.

The breast biopsy in the application segment generated the highest revenue in 2020 and is expected to maintain its supremacy during the forecast period. This is attributed to the rise in the number of breast cancer patients witnessed over the years throughout the globe. Breast Biopsy is likely to maintain this trend in the coming years.

According to the American Cancer Society, about 281,550 new cases of invasive breast cancer will be diagnosed in women in 2021across the USA. Additionally, almost 49,290 ductal carcinoma cases will be diagnosed this year. Breast cancer can be detected efficiently using cutting-edge biopsy devices with higher efficiency in less time. Additionally, the increasing public awareness about disease screening and technological advancement in biopsy devices will drive the growth of the biopsy devices market.

Global Biopsy Devices Market: By Imaging Technology

Based on Imaging Technology, the global biopsy devices market is segmented on into (a) MRI-guided biopsy, (b) stereotactic-guided biopsy, (c) ultrasound-guided biopsy, (d) CT scan, and others.

MRI-guided biopsy held the largest share in the market in 2020 and is likely to dominate the market in the upcoming era. MRI-guided biopsy consumes less time and the procedure is less invasive compared to surgical biopsy. What’s more, it leaves little or no scarring.

MRI-guided breast biopsy, conducted via core needle method or vacuum-assisted device, takes less time than surgical biopsy besides causing minimum tissue damage. Additionally, it is more affordable. These are the key factors driving the growth of MRI-guided biopsy in imaging technology segment.

Global Biopsy Devices Market: By End-User

Based on end-user, the market is segmented into (i) hospitals, (ii) diagnostic & imaging centers, and (iii) academic & research institutes.

In 2020, hospitals formed the largest end-user segment of the market. This can be attributed to the growth in the healthcare sector in emerging economies along with the increase in healthcare expenditure and the number of hospitals.

Additionally, the U.S. News & World Report evaluated 899 hospitals that see many complex cancer patients in U.S. fueling the overall market growth.

Global Biopsy Devices Market: Regional insights

Based on regions, the global biopsy devices market is fragmented into (i) North America, (ii) Europe, (iii) Asia Pacific, (iv) Latin America, and (v) the Middle East & Africa.

North America occupied the largest share of the market in 2020 and is expected to maintain its dominance during the predicted period owing to extensive accessibility of trained medical professionals, availability of well-developed infrastructure facilities, and the existence of mainstream crucial players.

However, the Asia-Pacific is likely to witness the highest growth rate throughout the forecast period due to its large population base, the surge in disposable income, and the rise in patient awareness about disease screening. Additionally, the increase in the geriatric population that is highly vulnerable to cancer is the crucial factor driving the market growth.

Competitive landscape

Key players for biopsy devices market include: Argon Medical Devices, Inc., B. Braun Melsungen AG, Becton Dickinson and Company (C.R. Bard, Inc.), Boston Scientific Corporation, Cardinal Health, Inc., Cook Medical, Inc., Danaher Corporation (Leica Microsystem), Fujifilm Holdings Corp., Hologic, Inc., and Medtronic plc. many others. The market players compete on the basis of the given product quality and the new and cost effective manufacturing process, which can give them better yield and optimize the process for more and better product. R&D and advancement in the technology is the another key factor for biopsy devices market leaders.

Recent Development

• In October 2020, Argon Medical Devices and Rex Medical announced Exclusive License and distribution agreement for the “CLEANER” rotational thrombectomy system.

• In December 2020, Becton Dickson announced that its plans to invest USD1.2 Billion in Pre-fillable syringe manufacturing capacity over next four years to expand and upgrade manufacturing capacity and technology for pre-fillable syringes (PFS) and advanced drug delivery systems (ADDS) across its six global manufacturing locations besides adding a new manufacturing facility in Europe.

Scope of the Report

By Product

• Needle-Based Biopsy Instruments

• Biopsy Forceps

• Localization Wires

• Other Products

By Application

• Breast Biopsy

• Gastroenterology Biopsy

• Prostate Biopsy

• Liver Biopsy

• Lung Biopsy

• Kidney Biopsy

• Gynecological Biopsy

• Others

By Imaging Technology

• MRI–guided Biopsy

• Stereotactic–guided Biopsy

• Ultrasound-guided Biopsy

• CT scan

• Others

End-User Industry

• Diagnostic and Imaging Centers

• Hospitals

• Others

By Region

• Asia-Pacific

• North America

• Europe

• Middle East & Africa

• Latin America

1.    Research Framework

1.1. Research Objective

1.2. Product Overview

1.3. Market Segmentation

2.    Research Methodology

2.1. Qualitative Research

2.1.1.     Primary & Secondary Sources

2.2. Quantitative Research

2.2.1.     Primary & Secondary Sources

2.3. Breakdown of Primary Research Respondents, By Region

2.3.1.     Secondary Research

2.3.2.     Primary Research

2.4. Breakdown of Primary Research Respondents

2.5. Market Size Estimation

2.6. Assumption for The Study

2.7. Market Breakdown & Data Triangulation

3.    Executive Summary

4.    Global Biopsy Devices Market Insights

4.1. Industry Value Chain Analysis

4.2. DROC Analysis

4.2.1.     Growth Drivers

4.2.2.     Restraints

4.2.3.     Opportunities

4.2.4.     Challenges

4.3. Technological Landscape

4.4. Regulatory Framework

4.5. Company Market Share Analysis,2019

4.6. Porter’s Five forces analysis

4.6.1.     Bargaining Power of Suppliers

4.6.2.     Bargaining Power of Buyers

4.6.3.     Threat of New Entrants

4.6.4.     Threat of Substitutes

4.6.5.     Intensity of Rivalry

4.7. Strategic Outlook

5.    Global Biopsy Devices Market Overview

5.1. Market Estimates & Forecast by Value, 2016-2026

5.1.1.     By Value (USD)

5.2. Market Share & Forecast

       5.2.1. By Product

                                5.2.1.1. Needle-Based Biopsy Instruments

                                5.2.1.2. Biopsy Forceps

                                5.2.1.3. Localization Wires

                                5.2.1.4. Other Products                    

                     5.2.2. By Application

  5.2.2.1. Breast Biopsy

  5.2.2.2. Gastroenterology Biopsy

  5.2.2.3. Prostate Biopsy

  5.2.2.4. Liver Biopsy

  5.2.2.5. Lung Biopsy

  5.2.2.6. Kidney Biopsy

  5.2.2.7. Gynecological Biopsy

  5.2.2.8. Others

                     5.2.3. By Imaging Technology

 5.2.3.1. MRI–guided Biopsy

 5.2.3.2. Stereotactic–guided Biopsy

 5.2.3.3. Ultrasound–guided Biopsy

 5.2.3.4. CT scan

 5.2.3.5. Others

                     5.2.4. By End User

5.2.4.1. Diagnostic and Imaging Centers

5.2.4.2. Hospitals

5.2.4.3. Others

                   5.2.5. By Region

                             5.2.5.1. North America

                             5.2.5.2. Europe

                             5.2.5.3. Asia Pacific

                             5.2.5.4. South America

                             5.2.5.5. Middle East & Africa

6.    North America Biopsy Devices Market

6.1. Market Estimates & Forecast by Value, 2016-2026

6.1.1.     By Value (USD)

6.2. Market Share & Forecast

6.2.1.     By Product Type

6.2.2.     By Application

6.2.3.     By Imaging Technology

6.2.4.     By End User

6.2.5.     By Country

6.2.5.1.         U.S

6.2.5.2.         Canada

7.    Europe Biopsy Devices Market

7.1. Market Estimates & Forecast by Value, 2016-2026

7.1.1.     By Value (USD)

7.2. Market Share & Forecast

7.2.1.     By Product Type

7.2.2.     By Application

7.2.3.     By Imaging Technology

7.2.4.     By End User

7.2.5.     By Country

7.2.5.1.         Germany

7.2.5.2.         U.K

7.2.5.3.         France

7.2.5.4.         Italy

7.2.5.5.         Rest of Europe

8.    Asia Pacific Biopsy Devices Market

8.1. Market Estimates & Forecast by Value, 2016-2026

8.1.1.      By Value (USD)

8.2. Market Share & Forecast

8.2.1.     By Product Type

8.2.2.     By Application

8.2.3.     By Imaging Technology

8.2.4.     By End User

8.2.5.     By Country

8.2.5.1.         China

8.2.5.2.         India

8.2.5.3.         Japan

8.2.5.4.         South Korea

8.2.5.5.         Rest of APAC

9.    South America Biopsy Devices Market

9.1. Market Estimates & Forecast by Value, 2016-2026

9.1.1.     By Value (USD)

9.2. Market Share & Forecast

9.2.1.     By Product Type

9.2.2.     By Application

9.2.3.     By Imaging Technology

9.2.4.     By End User

9.2.5.     By Country

9.2.5.1.         Brazil

9.2.5.2.         Mexico

9.2.5.3.         Argentina

9.2.5.4.         Rest of Latin America

10. Middle East & Africa Biopsy Devices Market

10.1.   Market Estimates & Forecast by Value, 2016-2026

10.1.1.   By Value (USD)

10.2.   Market Share & Forecast

10.2.1.   By Product Type

10.2.2.   By Application

10.2.3.   By Imaging Technology

10.2.4.   By End User

10.2.5.   By Country

10.2.5.1.      Saudi Arabia

10.2.5.2.      UAE

10.2.5.3.      South Africa

10.2.5.4.      Rest of MEA

11. Company Profile (Company Overview, Financial Matrix, Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *

·         Argon Medical Devices, Inc.

·         B. Braun Melsungen AG

·         Becton Dickinson and Company (C.R. Bard, Inc.)

·         Boston Scientific Corporation

·         Cardinal Health, Inc.

·         Cook Medical, Inc.

·         Danaher Corporation (Leica Microsystem)

·         Fujifilm Holdings Corp.

·         Hologic, Inc.

·         Medtronic plc

·         Others

12. Strategic Recommendation

*Financial Details Not Be Captured in Case of Unlisted Companies

**The segmentation and the companies are subjected to modifications based on the in-depth secondary for the final deliverable