The global biopsy devices market size is expected to reach USD 2.3 billion by 2020, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.4% during the forecast period. Growing incidence of cancer, rising geriatric population across the world, and soaring demand for less invasive biopsy procedures are some of the key trends stimulating market growth.
Demand for minimally invasive biopsy procedures is rising at a significant rate in the market. 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.
North America is likely to command a considerable revenue share in the market throughout the forecast period. On the other hand, Asia Pacific is projected to post a noteworthy CAGR during the same period.
In emerging economies, high price of biopsy devices can hinder the growth of the market. Patients in the countries are generally price sensitive and need more efficient and effective medical technologies and facilities. There are several regulatory changes coming across the world to address unmet needs of patients in these areas.
High unmet patient needs coupled with rapidly improving healthcare infrastructure in emerging countries such as India and China are poised to augment the regional market. Advent of technologically advanced and efficient products such as Vacora and Finesse Ultra Breast Biopsy System by BARD and Celero VAB device by Hologic Inc. is stoking the growth of the market. Besides this, burgeoning popularity of these devices in developed countries such as the U.S., Canada, and Japan are expected to boost the growth of the overall market during the forecast period.
Some of the key players in the biopsy devices market are Inard Inc.; Carefusion Corporation; Devicor Medical Products, Inc; DTR Medical; Hologic Inc.; C.R. Bard Inc. and Cardinal Health Inc. These companies are involved in developing and adding technologically advanced and cost effective instruments to their product portfolio.
Due to rapid technological advancements and high efficiency, biopsy guidance systems are anticipated to register sharp rise in their demand over the forecast period
Surging demand for less invasive surgeries and disposable biopsy devices is one of the primary growth stimulants for the market
Technologies such as vacuum assisted biopsy devices are able to facilitate easy removal of large tissue samples. Upsurge in their demand will influence the overall market positively
The North America market was at the forefront of the market. The region is driven by various factors such as better infrastructure, patient awareness, and good healthcare facilities
Asia Pacific is estimated to emerge as the fastest growing region in the global arena.
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Grand View Research has segmented the global biopsy devices market based on product and region:
Biopsy Devices Product Outlook (Revenue USD Million, 2012 - 2020)
Needle-based Biopsy Guns
Vacuum-assisted Biopsy (VAB) Devices
Fine Needle Aspiration Biopsy (FNAB) Devices
Core Needle Biopsy (CNB) devices
Biopsy Guidance Systems
General Biopsy Forceps
Hot Biopsy Forceps
Biopsy Devices Regional Outlook (Revenue USD Million, 2012 - 2020)
Middle East and Africa
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