Bone Biopsy Systems Market to Exceed US$ 408.9 Million by 2032 with Surging Prevalence of Oncology Indications
Healthcare Professionals to Adopt Image-guided Bone Biopsy Systems to Enhance Risk Assessment Models
In its latest study, Fact.MR offers a detailed analysis on the global bone biopsy systems market from 2022 to 2032. This report further unveils key factors such as opportunities, challenges, and recent developments propelling growth in the market across various segments, including use case, diagnostic application, end user, and region.
NEW YORK, July 19, 2022 /PRNewswire/ -- The global bone biopsy systems market size is projected to reach US$ 227.6 Million in 2022 and exhibit a CAGR of 6% in the forecast period from 2022 to 2032. As per the report, the global bone biopsy systems market is expected to be valued at US$ 408.9 Million in 2032.
Increasing cases of oncology indications and rising geriatric population are anticipated to drive the global market. Emergence of liquid biopsy and ongoing technological developments in the field of biopsy techniques are some of the other factors that would push growth in the market.
Besides, growing adoption of image-guided biopsies to reduce the chances of false-negative results and improve risk assessment is likely to bode well for the market. Rising number of skilled orthopedic surgeons is set to push the use of high-throughput, advanced technology-based bone biopsy systems.
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As per the American Society of Clinical Oncology, nearly 3,910 people of all age groups (1,750 girls & women and 2,160 boys & men) will be diagnosed with primary bone sarcoma in the U.S. in 2022. In addition, about 2,100 deaths are expected to occur in the country the same year because of primary bone sarcoma.
On account of this, government agencies are spending huge sums in the U.S. to boost the country's healthcare sector. They are also providing funds to research institutions to conduct exhaustive R&D activities for discovering new bone biopsy systems.
Key Takeaways:
- The U.S. bone biopsy systems market is expected to be valued at US$ 151.7 Million by 2032 and exhibit a CAGR of 5.5% from 2022 to 2032.
- Europe generated a bone biopsy systems market share of approximately 35.2% in 2021.
- Sales of boney biopsy systems in the U.K., Germany, and Italy are set to expand at a steady CAGR of 6.2% from 2022 to 2032.
- By use case, the bone marrow biopsy segment is likely to exhibit a CAGR of 5.8% in the evaluation period and held a market share of about 66.9% in 2021.
- The global bone biopsy systems market showcased a CAGR of 4.2% during the historic period (2017-2021).
Growth Drivers:
- Increasing demand for minimally invasive surgeries and rising awareness about novel diagnostics are expected to boost growth.
- Surging adoption of needle biopsies for better assessment of bone cancer in outpatient settings is likely to propel growth.
Restraints:
- As bone biopsy needs to be carried out meticulously to prevent damage to target areas, lack of technical skills may lead to misleading results and improper diagnosis.
- Inexperienced handler of biopsy needles may accidentally break malignant cells that are present in a tumor, thereby causing them to spread to other organs.
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Competitive Landscape:
Leading players in the global bone biopsy systems market are persistently striving to optimize their in-house products and introduce technologically advanced systems to cater to the high consumer demand.
Some of the other key players are focusing on the development of novel product designs to address certain issues faced by healthcare professionals during surgeries. A few educational and research institutions are conducting studies to discover new systems to treat cancer.
For instance,
- In September 2020, NeoDynamics AB, a Swedish medical technology company, announced the launch of NeoNavia, its latest pulse biopsy system. The new system was very well received at international Senology congresses in Lucerne and Vienna. Physicians were able to gain hands-on experience of the novel product for the first time.
Key Companies Profiled by Fact.MR
- Becton, Dickinson, and company
- Teleflex
- Laurane Medical
More Valuable Insights on Bone Biopsy Systems Market
In the latest study, Fact.MR offers a detailed study on global bone biopsy systems market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of bone biopsy systems through detailed segmentation as follows:
By Use Case:
- Bone Marrow Biopsy
- Bone Lesion Biopsy
By Diagnostic Application:
- Bone Disorder Diagnosis
- Bone Cancer Diagnosis
- Bone Infection Detection
- Chronic Kidney Disease Diagnosis
- Others (Differentiating between Benign or Malignant Tumor)
By End User:
- Hospitals
- Orthopedic Clinics
- ASCs
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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Key Questions Covered in the Bone Biopsy Systems Market Report
- What is the projected value of the bone biopsy systems market in 2022?
- At what rate will the global bone biopsy systems market grow until 2032?
- Which are the factors hampering the growth in the bone biopsy systems market?
- Which region is expected to lead in the global bone biopsy systems market during 2022-2032?
- Which are the factors driving the bone biopsy systems market during the forecast period?
- What is the expected market value of the bone biopsy systems market during the forecast period?
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