Biopsy Devices Market

Biopsy Devices Market Outlook 2031

The global biopsy devices market size was valued at USD 2.11 Billion in 2022 and is estimated to reach USD 3.91 Billion by 2031, expanding at a CAGR of 7.1% during the forecast period, 2023–2031. The growth of the market is attributed to the increasing frequency of cancer cases as well as improved awareness about the disease along with government initiatives and rising preference for less invasive methods. 

Biopsy refers to a process or technique used to examine tissue of an organ that are surgically removed for detecting the presence of a disease such as cancer and inflammatory conditions. Some of these professionals such as radiologists, surgeons, and interventional cardiologists are the experts in performing biopsy and the procedure is widely carried out on major organs such as lungs, kidney, and liver.

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With the use of biopsy devices, the diagnostic test for cancer and celiac diseases can be performed on any organ of the body. To perform biopsy, several advanced imaging technology such as stereotactic-guided biopsy, MRI-guided biopsy, CT scan, ultrasound-guided biopsy, and others are used along with conventional biopsy devices.

Some of these technology are known for their minimal invasiveness and precision nature in conducting the tissue examination. Moreover, biopsy is widely used for diagnosis of breast cancer, lung cancer, prostate cancer, and skin cancer.

As per World Health Organization (WHO), cancer frequency is set to increase by 50% by 2020 and the new cancer cases worldwide is going to rise from 18 million in 2018 to 29.4 million by 2040.

As per the Globocan 2020 fact sheet, 19.3 million new cancer cases were reported globally, with nearly 10 million deaths due to cancers. Furthermore, according to the estimation of the International Agency for Research on Cancer (IARC), by 2040, the global burden of cancers is expected to rise to 27.5 million new cancer cases and 16.3 million deaths globally.

With the increasing demand for innovative solution, the adoption of advanced devices such as MRI-targeted biopsies, 3D optical biopsies, and Ultrasound–guided biopsies are likely to increase at a significant rate.

The COVID-19 pandemic has affected the market due to sudden move of majority of the globally leading pharmaceutical players and medical devices manufacturers towards the development of coronavirus diagnostic kits and equipment. Moreover, the pandemic has disrupted the global supply chain for the market, which resulted in the delaying of biopsy device production globally.

Biopsy Devices Market Trends, Drivers, Restraints, and Opportunities

• Upsurge in public awareness regarding chronic diseases and increasing occurrence of disease infection among geriatric populations globally are expected to boost the market growth.
• Rapid development of innovative technology for biopsy devices and rising demand for integrated biopsy technology such as stereotactic-guided biopsy is likely to push the market expansion in the coming years.
• Increasing initiatives by governments encouraging their citizens to adopt for early and accurate diagnosis of cancer and other infectious diseases are key factors triggering growth of the market.
• Biopsy devices high expense and inadequate availability of skilled professionals in developing countries are projected to impede the market growth during the forecast period.
• Presence of a large untapped population in emerging economies as well as developing countries are offering lucrative opportunities for the market expansion.

Scope of Biopsy Devices Market Report

The report on the global biopsy devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Biopsy Devices Market Segment Insights

Product Segment Analysis

Based on products, the global biopsy devices market is divided into needle-based biopsy guns, biopsy needles, biopsy forceps, biopsy guidance systems, and others. The needle-based biopsy guns is segmented into core needle biopsy devices, fine needle aspiration biopsy devices, and vacuum-assisted biopsy devices.

Meanwhile, the biopsy guidance systems segment is bifurcated into robotic guidance system and manual guidance system. The biopsy needles segment is further classified as reusable biopsy needles and disposable biopsy needles.

The biopsy forceps segment constitutes of cold/general biopsy forceps and hot biopsy forceps; while the other segment include brushes, curettes, and punches. The needle-based biopsy guns segment is expected to grow at a rapid pace in the coming years owing to the rising demand of these guns to collect samples with minimal invasion for the organs such as lungs, kidneys, and breasts.

Development of advanced technology for the products such as the one developed by INRAD Inc., which is called as aspiration biopsy syringe gun; thereby, bolstering the segment growth.

Moreover, the demand for vacuum-assisted devices are rising significantly since these devices offer manual, semi-automatic, and automatic with a spring-loaded mechanism that allow to take samples from the organs with minimum insertion. These devices are highly accurate and can obtain large volumes of sample with less insertions into the skin.

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Regional Outlook

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a major market share during the projected period. One key aspect for the regional market growth is rapidly growing several governments’ initiatives in the region to encourage individuals to undergo regular cancer testing.

Moreover, growing number of regulatory approval procedure, introduction of advance technological devices, presence of highly skilled professional, and regular funding through authorities to the research and development activities are some other major factors driving the regional market expansion.

The market of Asia Pacific, however, is projected to register promising growth during the forecast period owing to the factors of high cancer population, developing infrastructure, government’s active participation for improving healthcare for cancer treatment, and high untapped cancer patients. As per a study by WHO, the number of cancer in Asia is projected to surpass 6 million by 2030.

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Segments

The global biopsy devices market has been segmented on the basis of

Products

• Needle-based Biopsy Guns
  • Vacuum-assisted Biopsy Devices
  • Fine Needle Aspiration Biopsy Devices
  • Core Needle Biopsy Devices
• Biopsy Guidance Systems
  • Manual Guidance System
  • Robotic Guidance System
• Biopsy Needles
  • Disposable Biopsy Needles
  • Reusable Biopsy Needles
• Biopsy Forceps
  • Cold/General Biopsy Forceps
  • Hot Biopsy Forceps
• Others
  • Brushes
  • Curettes
  • Punches

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• DTR Medical
• Devicor Medical Products, Inc.
• Hologic Inc.
• Carefusion Corp.
• C.R. Bard Inc.
• Cardinal Health Inc.

Competitive Landscape

Key players competing in the global biopsy devices market are DTR Medical; Devicor Medical Products, Inc.; Hologic Inc.; Carefusion Corporation; C.R. Bard Inc.; and Cardinal Health Inc.

Some of these major players have adopted several business strategies including product launches, entering into partnership and collaboration, mergers, acquisitions, and expansion of production capacity to solidify their market position.