Market Highlights:
A biopsy is carried out
to diagnose any inflammatory conditions, infestations diseases, in case of organ
transplantation, and for the evaluation of fertility. However, biopsy has
gained traction in the cancer arena. A biopsy is the only definitive way to
determine the presence of cancer. Oncology diseases are spreading at an
alarming rate which has generated massive
demand for screening. There is a huge demand for high-quality diagnostic processes, especially huge unmet needs in the
emerging economies of the world create a conducive environment for the growth
of the global biopsy devices market.
A Biopsy is performed to
obtain a piece of tissue or a sample of
cells from a patient’s body. Biopsy devices such as Biopsy Needles, biopsy
needles, forceps, biopsy guidance system, and others are used for the same. The Global Biopsy
Devices Market Size is anticipated to scale to a valuation of
USD 2.4 Bn ata CAGR of 6.4% by the end of the forecast period of 2016-2022, as per a recent study by Market Research Future (MRFR).
Minimally
invasive biopsies have replaced open surgical excisional biopsy in patients
which has not only reduced costs but also reduced the psychological burden
affecting patients. This has encouraged
patients to undergo biopsy procedures and in turn, induced demand within the
global biopsy devices market. Furthermore, technological advancement in biopsy
devices has led to the development of improved and automated biopsy devices
which can even be used with greater ease
and less expertise. Also, safety quotientis also increased in automated biopsy devices.
Other aspectsenhancingthe growth of the market include rigorous ER&D activities by medical device
manufacturers, favorable medical devices regulations, and increasing investment
by medical device manufacturers. Improving reimbursement scenario is also a key
factor boosting the growth of the market. Furthermore, recent years have
witnessed a surge in the number of FDA approvals for biopsy devices which have further hastened the growth of the market.For
instance, in September 2018, Olympusreceived
FDA clearance for both fine needle aspiration (FNA) and fine needle biopsy
(FNB).
On the flipside, the high price of
biopsy devices and lack of skilled healthcare professionals act as limitations to the growth of the global biopsy
devices market.
Competitive Landscape:
Biopsy
Devices Market include Focal Therapeutics, Inc., C. R.
Bard, Inc. Creganna,Scion Medical Technologies, LLC. (UK),BD,Integra
LifeSciences Corporation,Hologic, Inc.,Argon Medical Devices, Inc.,Precision
Biopsy, LLC,Cook Medical, and Leica Biosystems.
Segmentation:
·
The
Global Biopsy Devices Market has been segmented
based on product type, application, and end user.
·
By product type,
the global biopsy devices market has been
segmented into biopsy guns, biopsy guidance system, biopsy needles,
forceps,and others.
·
By application,
the global biopsy devices market has been
segmented into bone marrow biopsy, surgical
biopsy, skin biopsy, needle biopsy, Cancer Diagnosis, and others.
·
By
end user, the global biopsy devices market has been segmented into hospitals, specialty
clinics, diagnostic centers, academic & research institutes,and others.
Regional Analysis:
By
region, the global biopsy devices market has been
segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle
East & Africa (MEA).
The Americas account for the most significant share of the
global biopsy devices market. High prevalence
of oncology diseases generate high demand for cancer screening and consequently
drive the market for biopsy devices. High healthcare expenditure, the existence of key players in the region and
extensive use of technologically advanced biopsy devices in the region support the
growth of the market. North America is leading the Americas market and is
anticipated to reach USD 2.4 Bn by theend of 2022.
Europe
is the second largest market for biopsy devices. High healthcare expenditure
and high expenditure on healthcare infrastructure boost the growth of themarket.
APAC is on its path to emerge as the fastest growing market
for biopsy devices. Surging prevalence of cancer,
growing awareness which has led to increased demand for cancer screening, and
expansion of healthcare budget in emerging economies are factors substantiating
the growth of the APAC market. In addition,
the governments in the region are endeavoring towards raising awareness and
encouraging individuals to undertake cancer screening which is acting as a
growth influencer.
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