ID: MRFR/MED/1652-HCR | February 2021 | Region: Global | 80 pages
The Biopsy Devices Market is estimated to grow at a significant CAGR of 6.4%. Therefore, the Market Value is anticipated to touch around USD 2.4 billion in the studied forecast period 2021-2028. A biopsy is a medical procedure in which a tissue piece or sample is used for diagnosis. This procedure is extensively used for extracting any cancerous tissue.
The demand for biopsy is increasing with the rising incidents of cancerous diseases. Also, the demand for new and advanced products is further improving the Biopsy Devices Market Growth. Asia-Pacific is anticipated to have the fastest growth in the future years. It consists of major countries such as India, Japan, China, and many that are boosting the market growth.
As the COVID-19 disease spread across the world, the manufacturing units and other industries were shut down temporarily. It also caused huge disruption in the supply chain and the gap between the supply and rising demand. However, as the lockdown was removed, the key players started to introduce new strategies and investments that are proving to boost the market growth in the studied forecast period.
The increasing cases of chronic diseases such as cancer, diabetes, etc., are the major drivers of the Biopsy Devices Industry. Other than that, the increasing population of the older generation, as well as healthcare expenditure, is also boosting the Biopsy Devices Market Growth.
The high costs of medical instruments required for diagnosis and treatment can restrain the market growth. Also, low awareness and lack of proper healthcare infrastructure in various developing and underdeveloped countries will further hinder the market value in the future.
There are various opportunities anticipated to enhance the Biopsy Devices Market. Mainly, growing emphasis to improve the effectiveness of tests and product designs are providing immense opportunities for the market.
The accuracy issues of the devices to diagnose the diseases are challenging. Also, the high qualifications standards and time-consuming factors can delay the diagnosis which can slow down the market growth.
The Compound Annual Growth Rate (CAGR) of the Biopsy Devices Market is anticipated to reach around 9%. In the future years, the market value is evaluated to expand up to USD 3200 million in the studied forecast period 2021-2028. The drivers such as rising cases of cancer and other cancerous diseases will boost the market growth.
Value Chain Analysis
The rising Biopsy Devices Market Trends such as rising healthcare expenditure, the introduction of new technologies and products to improve the diagnosis are some positive factors. In the upcoming years, the growing need and demand for new products will simultaneously improve the value chain of the market.
The segments of the Biopsy Devices Market are divided into product, product type, applications, and end-users. Based on product, the industry is divided into Consumables, and Instruments. The consumable is further segmented into Kits and Reagents and Instruments is sub-segmented into Semi-Automated, Automated, and Manual.
Based on the Product Type the Biopsy Devices Market is bifurcated into Biopsy Guidance Systems, Biopsy Needles, Forceps, Biopsy Guns, and others.
Based on application, the Biopsy Devices Market is segmented into Needle Biopsy, Skin Biopsy, Surgical Biopsy, and Bone Marrow Biopsy.
Based on end-users, the Biopsy Devices Market is divided into Specialty Clinics, Research and Academic Institutes, Hospitals, Diagnostic Centres, and Others.
The Biopsy Devices Market Size based on region is segmented into Americas, Asia-Pacific, Europe, Africa, and the Middle East. The Americas region is divided into Latin America and North America. North America is considered as the largest Biopsy Devices Market Share.
However, the second-largest market share is evaluated to be held by Europe. The growing use of technologically advanced products and supportive initiatives by the government is fuelling the market growth in this region.
However, the Asia-Pacific region is evaluated to have the highest growth in the studied forecast period. The growing demand for advanced healthcare products and rising cases of cancer diseases are boosting the market growth in this region.
Also, Africa and the Middle East region will hold a substantial share in the Biopsy Devices Market in the upcoming years. The improvement in the healthcare sector and rising awareness is the major will have a positive impact.
The Biopsy Devices Market Size consists of various key players. These key players to mergers, acquisitions, partnerships, mergers, etc. These strategies help the key players to enhance their business portfolio and improve their growth. Some of the crucial key players of the Biopsy Devices Market are as follows.
The report overview of the Biopsy Devices Market Outlook is as follows.
Report Score and Segmentation
The report score is to provide detailed information about Biopsy Devices Market Forecast. The report covers necessary information such as market value, CAGR, drivers, recent developments, etc. The information provided in this report is collected from various secondary and primary sources.
Frequently Asked Questions (FAQ) :
The global biopsy devices market is projected grow at approximately 6.4% CAGR during the assessment period (2016-2022).
The valuation of the global biopsy devices market is estimated to increase to USD 2.4 BN by the end of 2022.
Rising reliance on biopsy devices to get rapid and accurate analysis, advancement of technologies in diagnostic procedures, and awareness about the importance of early diagnosis are the major tailwinds pushing the growth of the global biopsy devices market.
North America holds the largest share in the global biopsy devices market, followed by Europe and the Asia Pacific, respectively.
Scion Medical Technologies, LLC. (UK), BD, Cook Medical, Leica Biosystems, Hologic, Inc., Precision Biopsy, LLC, C. R. Bard, Inc., Argon Medical Devices, Inc., Integra LifeSciences Corporation, and Creganna, Focal Therapeutics, Inc., are some of the major players operating in the biopsy devices market.