What Has Been the Growth Trajectory for the Biopsy Devices Market in Recent Years?
The biopsy devices market has seen considerable growth due to a variety of factors.
• The market size for biopsy devices has seen robust growth in the recent past. It's expected to increase from $3.03 billion in 2024 to $3.26 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.7%.
Factors like the expansion of emerging markets, enhancements in healthcare infrastructure, and a rising elderly population have contributed to the growth observed in the historic period.
What Does the Future Hold for the Biopsy Devices Market?
The biopsy devices market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for biopsy devices is predicted to experience significant expansion in the coming years. This market is projected to escalate to a worth of $4.64 billion by 2029, with a compound annual growth rate (CAGR) of 9.2%.
The anticipated growth during this period is due to factors such as government funding in healthcare, a surge in cancer diagnoses, and an increase in healthcare spending. Some of the major trends foreseen during this period involve technological progress, the introduction of completely automated biopsy systems, product advancements, the emergence of robot-assisted biopsy systems, partnerships, collaborations, and a rise in investments.
Which Factors Are Boosting Growth In The Biopsy Devices Market?
The biopsy devices market has seen an expansion due to the increasing occurrence of cancer cases. Doctors primarily use biopsies to identify any abnormal body conditions that might point towards the existence of cancer cells. According to the American Cancer Society, which is a national voluntary health organization based in the US with a focus on cancer eradication, it is predicted that almost 1.9 million fresh cancer cases will be identified in the United States in 2022, and around 609,360 cancer-related fatalities are anticipated. Particularly, it is forecasted that by the end of 2022, around 151,030 fresh colorectal cancer cases will be discovered, leading to an estimated 52,550 deaths in 2023. Additionally, the Canadian Medical Association Journal, a peer-reviewed open-access general medical journal from Canada issued by the Canadian Medical Association, reported in May 2022 that they expect approximately 233,900 fresh cancer cases to be diagnosed in Canada in 2022. Out of these cases, about 28,600 are forecasted to be breast cancer, making up roughly 25% of all new cancer diagnoses in women for the year. The most common form of cancer expected in Canada in 2022 is lung cancer, with a predicted 30,000 new cases.
What Are The Primary Segments In The Global Biopsy Devices Market?
The biopsy devices market covered in this report is segmented –
1) By Product Type: Needle-Based Biopsy Guns, Biopsy Forceps, Biopsy Guidance Systems, Biopsy Needles, Other Products
2) By Image Guiding Technology: MRI-Guided Biopsy, Stereotactic-Guided Biopsy, Ultrasound-Guided Biopsy, Other Imaging Technologies
3) By Application: Breast Biopsy, Gynecological Biopsy, Prostate Biopsy, Blood Cancers Biopsy, Skin Biopsy, Kidney Biopsy, Gastroenterology Biopsy, Other Applications
4) By End User: Diagnostics And Imaging Centers, Hospitals, Other End User
Subsegments:
1) By Needle-Based Biopsy Guns: Spring-Loaded Biopsy Guns, Vacuum-Assisted Biopsy Guns
2) By Biopsy Forceps: Endoscopic Biopsy Forceps, Surgical Biopsy Forceps
3) By Biopsy Guidance Systems: Ultrasound-Guided Biopsy Systems, CT-Guided Biopsy Systems, MRI-Guided Biopsy Systems
4) By Biopsy Needles: Core Needles, Fine Needle Aspiration (FNA) Needles, Coaxial Needles
5) By Other Products: Biopsy Sutures, Biopsy Markers, Biopsy Storage Solutions
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Which Key Trends Are Driving Changes In The Biopsy Devices Market?
The biopsy devices market is being transformed by robot-assisted biopsy systems, which aim to mitigate post-biopsy complications. These robot-assisted biopsies are designed to enhance the precision and accuracy of the procedure, and medical regulatory bodies are providing approval for such devices to simplify the process. For example, in July 2022, Siemens Healthineers' and Intuitive's platforms were granted FDA approval for the development of a robotic-assisted platform specifically for minimally invasive lung biopsies. This integration will enable 2D and 3D imaging during the procedure.
Who Are the Key Players in the Biopsy Devices Market?
Major companies operating in the biopsy devices market include:
• Becton Dickinson and Company (BD)
• Hologic. Inc.
• Danaher Corporation
• Boston Scientific Corporation
• Olympus Corporation
• Cook Medical
• Medtronic Inc
• Cardinal Health
• Argon Medical Devices Inc.
• Fujifilm Holdings Corp
• BMA Co. Ltd.
• Transmed (China) Co.
• LTD
• HaploX Biotechnology
• Gene+sLab
• Lepu Medical Technology
• CMR Naviscan Corporation
• DDD Diagnostics
• Philips Healthcare
• Siemens Healthineers
• Abbott Laboratories
• Bangs Laboratories Inc
• Roche Diagnostics
• Cepheid
• Devicor Medical Products
• Braile Biomedica Ltd
• B.Braun Medical Gulf
• Stryker ESCS BV
What Is The Most Dominant Region In The Biopsy Devices Market?
North America was the largest region in the biopsy devices market in 2024. Asia-Pacific was the second largest region in the global biopsy devices market report share. The regions covered in the biopsy devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
