According to our research report, the size of the Asia Pacific Biopsy Devices Market was worth USD 321.82 million in 2020 and estimated to be growing at a CAGR of 8.54% to reach USD 484.8 million by 2025.
A biopsy is a medical examination performed by surgeons, radiologists, or cardiologists to extract sample cells or tissues to detect disease. The tissue is usually studied by pathologists under a microscope or may be analyzed by chemical examination, and the most effective method of detecting cancer and inflammatory disorders is to conduct biopsies. A biopsy involves the removal of cells or tissues from tumors located in different parts of the body, and the devices used for this process is called biopsy devices. The market is regarded as rapid innovation and technological developments, leading to continuous product improvement ensuring better patient comfort and minor trauma during and after surgery.
The Asia Pacific is estimated to represent strong potential market growth in the biopsy devices market due to fast technological advancements. Increasing incidences of cancer, increasing demand for minor invasive surgeries, and government support and initiatives in the region are the leading causes of the growth of the biopsy devices market. Increased public awareness of the need for early disease detection and improved product designs are also driving the growth of the biopsy devices market in the Asia Pacific. Although the research in biopsy diagnostics is not as advanced as in Western countries, it is still growing faster than their western counterparts. Hence, more funding is being received for cancer diagnostic research.
The market is anticipated to record growth mostly because of the quickly aging population and a parallel increase in cancer incidence. Competitive pricing of products and reimbursement for biopsy procedures will lead to a higher uptake of biopsy devices, thereby driving the market's growth.
The high cost of biopsy devices is likely to hamper the growth of the market. High prices of these cutting-edge instruments are a deterrent in price-sensitive markets such as South East Asia. Product recalls due to a rising number of quality and accuracy issues have hindered the growth of this market. Recently Asia-Pacific region is witnessing a massive challenge in the form of the growing COVID-19 cases, which has adversely influenced even cancer diagnostics. Cancer patients are faced with tremendous diagnosis and treatment issues, and progress tests are delayed as hospitals struggle with rising COVID-19 cases.
This research report has been segmented & sub-segmented into the following categories:
Regionally, Asia Pacific region is the third-largest in terms of market share by region after North America and Europe. However, it is also the fastest-growing region in the world. Reforms introduced in India and China are poised to increase their purchasing power, further escalating the market's growth. China is the biggest name in this region, followed closely by Japan and India. Japan has a better healthcare infrastructure conducive to research, but India is the fastest-growing market due to the sheer size of the diseased population.
One recent factor that may play a significant role in shifting the region's landscape is the anti-China sentiment in countries, especially in India. With the Indian government's increased efforts to make everything in-house, the upcoming few years would be the one to watch out for as other countries’ dependence on China is likely to lessen, with India being an obvious alternative. South Korea and Australia are the other notable countries in the market.
China is dominating the market, and India is estimated to grow at the highest CAGR in the forecast period due to the rising aging population.
Major companies operating in the APAC Biopsy Devices Market profiled in this report are Medtronic, Leica Biosystems, Hologic Inc., Boston Scientific Corporation, Becton, Cook Medical Inc., C.R. Bard Inc., Mauna Kea Technologies, Ethicon EndoSurgery Inc., Veran Medical Technologies, Dickinson and Company, Fujifilm Medical Systems, MDxHealth, Argon Medical Devices Inc and Intact Medical Corp.
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product
5.1.1 Introduction
5.1.2 Instruments
5.1.2.1 Manual
5.1.2.2 Automated
5.1.2.3 Semi-Automated
5.1.3 Consumables
5.1.3.1 Reagents
5.1.3.2 Kits
5.1.4 Y-o-Y Growth Analysis, By Product
5.1.5 Market Attractiveness Analysis, By Product
5.1.6 Market Share Analysis, By Product
5.2 Type
5.2.1 Introduction
5.2.2 Needle Biopsy
5.2.2.1 Core Needle Biopsy
5.2.2.2 Fine Needle Biopsy
5.2.2.3 Vacuum-Assisted Biopsy
5.2.3 Surgical Biopsy
5.2.3.1 Incisional Biopsy
5.2.3.2 Excisional Biopsy
5.2.5 Y-o-Y Growth Analysis, By Type
5.2.6 Market Attractiveness Analysis, By Type
5.2.7 Market Share Analysis, By Type
5.3 Application
5.3.1 Introduction
5.3.2 Scientific Research
5.3.3 Medical Diagnosis
5.3.4 Agricultural Applications
5.3.5 Genetic fingerprinting & Sex Determination
5.3.6 Y-o-Y Growth Analysis, By Application
5.3.7 Market Attractiveness Analysis, By Application
5.3.8 Market Share Analysis, By Application
5.4 End Users
5.4.1 Introduction
5.4.2 Pharmaceutical and Biotechnology Industry
5.4.3 Academic Research Institute
5.4.4 Contract Research Organizations
5.4.5 Forensic Labs
5.4.6 Y-o-Y Growth Analysis, By End Users
5.4.7 Market Attractiveness Analysis, By End Users
5.4.8 Market Share Analysis, By End Users
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Product
6.1.3.3 By Type
6.1.3.4 By Application
6.1.3.5 By End User
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Product
6.1.4.3 By Type
6.1.4.4 By Application
6.1.4.5 By End User
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Product
6.1.5.3 By Type
6.1.5.4 By Application
6.1.5.5 By End User
6.2 China
6.3 India
6.4 Japan
6.5 South Korea
6.6 Australia
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Medtronic
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Leica Biosystems
8.3 Hologic Inc.
8.4 Boston Scientific Corporation
8.5 Becton
8.6 Cook Medical Inc.
8.7 C.R. Bard Inc.
8.8 Mauna Kea Technologies
8.9 Ethicon EndoSurgery Inc.
8.10 Veran Medical Technologies
8.11 Dickinson and Company
8.12 Fujifilm Medical Systems
8.13 MDxHealth
8.14 Argon Medical Devices Inc
8.15 Intact Medical Corp
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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