As per our research report, the size of the global biopsy devices market was worth USD 19202.2 million in 2020 and estimated to be growing at a CAGR of 7.47% to reach USD 2753.3 million by 2025 during the forecast period.
A biopsy is a procedure to perform surgical removal of tissue from an organ to determine the presence or extent of disease, generally, cancer or inflammatory conditions, typically performed by surgeons, radiologists, and interventional cardiologists. Biopsies can be performed on any organ using specific biopsy devices as a confirmatory test for cancer or celiac diseases. The usage of biopsy devices varies according to the type of organ under consideration. Conventional biopsy devices can be used along with advanced imaging technologies such as MRI Guided biopsy, stereotactic guided biopsy, ultrasound-guided biopsy, CT scan, etc.
Biopsy devices help perform integrated procedures that are important to perform biopsies in critical areas of the body, such as the lungs, liver, and kidney. A biopsy is the surgical removal of tissue from an organ to determine the presence or level, mostly cancerous and inflammatory conditions. This diagnostic process is usually performed by surgeons, radiologists, and interventional cardiologists, to substantiate the presence of cancerous tissue.
MARKET DRIVERS:
Y-O-Y growth in cancer incidence, growing demand for minor invasive surgeries, and increasing support and initiatives from the governments are primarily accelerating the growth of the global biopsy devices market.
As known that the rising instances of chronic medical ailments, rapidly growing geriatric population, increasing healthcare expenditure, and extensive research and development (R&D) activities are projected to drive the biopsy devices market in the coming years. There is a considerable rise in consumer awareness regarding the availability of diagnostic and screening procedures for chronic diseases boosting the demand for integrated technologies such as stereotactic-guided biopsies, smart biopsy systems that aid in distinguishing healthy cells from tumorous ones are also favoring the market growth, includes the
Additionally, increased public awareness of the need for early disease detection and improved product designs are also driving the growth of the global biopsy devices market. Although the research in biopsy diagnostics is not as advanced as in Western countries, regions such as Asia-Pacific are still growing faster than their western counterparts. Hence, more funding is being received for cancer diagnostic research.
MARKET RESTRAINTS:
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, the Asia-Pacific region is witnessing a huge 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.
Lack of or poor awareness of the diagnosis of chronic diseases is a major restraint for the market. Additionally, factors such as time-consuming, irreproducible nature, qualification needs, and required standardizations are hindering the growth rate of the market.
Impact of COVID-19 on the global biopsy devices market:
The World Health Organization (WHO) declared the COVID 19 as a pandemic. The coronavirus has spread across every corner of the world, adversely influencing the industries, including the healthcare field. The cancer diagnostics sector has mainly been affected. Regions like North America, Europe, and Asia-Pacific are experiencing a vast challenge in increasing COVID 19 cases. As per the WHO, because of the fast-changing threat of COVID 19 affected countries and steadily managing the outbreak trends. As reported by an article published in April 2020, cancer patients in India face massive problems as treatments and diagnosis cancelled, postponed, or re-scheduled. The healthcare professionals were always busy administering and managing the multiplying COVID-19 cases. During the first half of the pandemic period, i.e., during the lockdown, the device manufacturing process has stopped to avoid the virus's widespread spread. The medical staff is the frontline warriors battling against the COVID 19 to ensure the patients' safety. Post to the uplift of lockdown, the biopsy devices have started recovering despite being in the decline mode for more than 4 months.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2019 to 2025 |
|
Base Year |
2019 |
|
Forecast Period |
2020 to 2025 |
|
Segments Covered |
By Product, Type, Application, End-User, and Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
This research report on the global biopsy devices market has been segmented & sub-segmented based on the product, type, application, end-user, and region.
Biopsy Devices Market - By Product:
Biopsy Devices Market – By Type:
The needle biopsy segment is forecasted to hold the largest share in the global market during the forecast period based on the type. Factors such as the growing number of breast cancers, gastrointestinal tract diseases, and soft tissue sarcomas are majorly accelerating this segment. According to the National Cancer Institute (NCI), 2019, it was projected around 61,780 leukemia cases, and 22,480 people died due to leukemia in the U.S in 2019.
The vacuum-assisted biopsy sub-segment was the top-performing under needle biopsy segment in 2019. The vacuum-assisted biopsy device is one of the most important diagnostic procedures. The increasing demand for vacuum-assisted biopsy devices, on-going research, and development in the medical devices sector has led to the launch of new equipment and systems in the world. The mentioned above factors propel the biopsy devices market globally.
Biopsy Devices Market – By Application:
Biopsy Devices Market – By End User:
Biopsy Devices Market – By Region:
North America holds the most significant share in the global biopsy device market due to the increasing geriatric population. Europe holds the second primary market for biopsy devices due to the acceptance of advanced technology in biotechnology and research and innovation technologies. The Asia Pacific is estimated to represent strong potential market growth in the biopsy devices market due to fast technological advancements. The Asia-Pacific region is expected to witness the highest CAGR during the forecast period of 2020 to 2025. The rapid growth of this segment can be attributed to the rising prevalence of cancer, moreover large populations in countries such as China and India, improving healthcare infrastructure. However, patient safety risks associated with biopsy devices leading to product recalls and the risk of infections related to biopsy procedures are expected to hinder the growth of this market to a certain extent.
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 big role in shifting the region's landscape is the anti-China sentiment in countries, especially 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.
KEY MARKET PARTICIPANTS:
Some of the notable companies dominating the global 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.
KEY MARKET HAPPENINGS IN THE RECENT PAST:
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 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
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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