Breast Biopsy Market Growth is Increasing at a Promising CAGR During Forecast to 2023

Market Overview:

A biopsy is a small operation that is used to perform the removal of tissues from an area of concern from the body. Breast biopsy is a medical procedure that involves the testing of small samples of breast tissues for the detection of breast cancer. This form of biopsy is conducted with the help of minimally invasive biopsy systems due to minimal pain and disfigurement. There are various types of biopsy procedures that are used depending upon the different techniques like vacuum-assisted biopsy (VAB), core needle biopsy (CNB), and fine needle aspiration biopsy (FNAB). These are recommended by the doctor based on the size, location, and other characteristics of the breast abnormality.

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The global Breast Biopsy Market Statistics is expected to expand in significant fashion during the forecast period of 2018 to 2023.The growing prevalence of breast cancer among women is the major driver for the global breast imaging market. Breast cancer is the second most prevalent type of cancer among women, with more than 200,000 new cases diagnosed every year. Breast cancer has also become a major public issue in recen tyears, with a number of healthcare organizations and celebrities joining the cause to promote breast cancer and raise funds for poor patients and further product development to make breast imaging easier and more accurate. The growing demand for precise diagnostic tools that can diagnose breast cancer at an early stage is likely to be a major driver for the global breast imaging market over the forecast period. Early diagnosis of cancer is highly important in managing the disease and ensuring a positive prognosis, leading to a growing demand for product development in the breast imaging markettargeted at developing devices that can detect tumors when they are at their smallest.

Competitive Landscape

·         Cook Medical Incorporated

·         Dickinson and Company

·         NuVue Therapeutics

·         Argon Medical Devices

·         Johnson & Johnson

·         Encapsule Medical Devices LLC

·         Leica Biosystems

·         R. Bard Inc

·         Argon Medical Devices

·         Hologic Inc

·         Devicor Medical Products Inc

·         Becton

·         Hologic Inc

Market Segmentation

·         The global breast biopsy market segmentation is done as per technique type, product, guidance technology, and end-user.

·         By product, the market includes biopsy tables, guidance systems, biopsy needles, biopsy wires, and others.

·         By technique type, the market includes core needle biopsy, fine needle aspiration biopsy, wire localization, MRI-guided core needle biopsy, biopsy markers, surgical biopsy, and sentinel node biopsy.

·         By guidance technology, the market includes CT-guided biopsy, ultrasound-guided, mammography-guided magnetic resonance, and various other image-guided breast biopsy (PET and thermography).

·         By end-user, the market comprises of ambulatory surgical centers, hospitals, diagnostic centers, and others.

Regional Analysis

The geographical breast biopsy market segmentation covers four major regions, namely North America, Asia-Pacific, Europe, and the Middle East & Africa.

North America is anticipated to hold the largest market share over the forecast period as per the market report published by MRFR. This is primarily due to the early adoption of advanced medical technologies and a continued emphasis on the development from companies operating in cancer diagnostics. The Europe market holds the second-largest share of the breast biopsy market due to the striking prevalence of breast cancer in the UK and Belgium. Both North America and Europe comprise more than 50% of the of the global breast biopsy market share.

The regional market of Asia-Pacific is also slated to experience a period of growth in the forthcoming years. This is because of the demand for advanced technology, better rate of adoption of such technologies, access to optimal treatment facilities, increasing favorable initiatives undertaken by the government, and rising healthcare expenditure.

Lastly, the Middle East & Africa region is expected to garner the least market growth due to the presence of an underdeveloped healthcare industry, poor medical facilities, and lack of technical proficiency and knowledge concerning the operation.

October 30^th, 2019, a team from ETH Zurich with support from the Swiss National Science Foundation developed a new ultrasound method to help differentiate benign breast tumors from the malignant ones. The clinical trials have proven to show great promise in the detection of breast cancer and can be revolutionary in the medical segment for detecting breast cancer.