The biopsy devices market size in APAC was worth USD 349.30 million in 2023. This value is estimated to grow at a CAGR of 8.54% and be worth USD 526.20 million by 2028.
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. 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 are 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 growing cancer patient population across the APAC region is majorly driving the APAC biopsy devices market. Approximately 170 people per 100,000 have cancer in the Asia Pacific region. The prevalence of lung cancer, breast cancer, and colorectal cancer is high among the countries of the Asia-Pacific region. Cancer may be caused due to several reasons, such as genetic issues, hereditary, changes in hormonal balance and unhealthy diet and others. Due to the increased mortality rate among cancer patients, people who have experienced cancer symptoms undergo biopsy testing, which helps to confirm the presence of cancer at an early stage.
The growing preference towards minimal invasion surgeries further propels the APAC's biopsy devices market. Due to significant cuts and extended hospital stays, many populations prefer minimally invasive surgeries through biopsy testing done with a small needle with fewer cuts.
The rapid adoption of technological advancements in biopsy devices is estimated to fuel the market’s growth rate in the APAC region. Robot-assisted biopsy devices have gained popularity due to less compilation compared to the manual use of biopsy devices. Therefore, most key players focus on developing biopsy devices to reduce the pain for patients and increase the comfort levels of biopsy testing in hospitals and clinics for early detection of cancer or other infections.
However, the high cost of advanced biopsy devices is the primary factor restraining the market growth in the Asia Pacific region. Additionally, the need for more skilled professionals, strict regulations, and potential risks due to biopsy devices are the other factor that hampers the market growth.
This research report on the Asia-Pacific biopsy devices market has been segmented & sub-segmented into the following categories:
By End User:
Geographically, the Asia-Pacific region is predicted to hold a considerable share of the worldwide market during the forecast period. The growing advancements majorly drive the growth of the APAC biopsy devices market to develop the healthcare infrastructure in the APAC countries, increasing investments by the government in cancer awareness campaigns, and increasing healthcare expenditure.
India is one of the promising markets in the APAC region and is expected to witness a healthy CAGR during the forecast period. Many lung biopsy specialists in India are majorly boosting the Indian breast biopsy market. In addition, in 2022, PGI Chandigarh developed a liquid biopsy test to detect oral cancer in its early stages through a saliva test, which helps increase patients' survival rates. Increasing thyroid biopsy hospitals and clinics also help the development of the biopsy device market in India. In addition, increasing thyroid cancer cases among women and increasing awareness about the chances of thyroid cancer among women result in increasing biopsy testing.
During the forecast period, the Chinese market is anticipated to hold a substantial share of the worldwide market. Cervical cancer is one of the most common types of cancer seen in women. Nearly 570,000 new cases of cervical cancer are reported in China every year. In addition, the increasing death rate among women with cervical cancer increases the demand for biopsy testing, which helps the market grow. In 2022, GynTect, used for cervical cancer, is now available in China to patients suffering from human papillomavirus. As per a recent study, 70 million female patients in China are infected with high-risk HPV and need screening done by using small tissue near the cervix and performing a biopsy leading to market demand.
The Japanese biopsy devices market is predicted to showcase a healthy CAGR during the forecast period. Most Japanese undergo liquid biopsy testing, which needs blood samples and avoids the need to collect tumor tissues from the patient. The most common types of cancer in Japan are breast, colorectum, prostate, stomach, and lung.
KEY MARKET PLAYERS:
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 are some of the companies playing a notable role in the APAC biopsy devices market.
The APAC biopsy devices market is anticipated to grow at a CAGR of 8.54% from 2023 to 2028.
Becton, Dickinson and Company, Boston Scientific Corporation, Cook Medical, Hologic, Inc. and Olympus Corporation are some of the notable companies in the APAC biopsy devices market.
The increasing adoption of minimally invasive procedures, the development of new and advanced biopsy devices, and the rising demand for biopsy devices in emerging economies are some of the ongoing trends in the APAC biopsy devices market.
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