The size of the Latin American Biopsy Devices Market is expected to be worth USD 212.70 million in 2023. This value is forecasted to grow USD 314.70 million by 2028, registering a CAGR of 8.15% from 2023 to 2028. Growing diagnostic centers and cancer detection by biopsy devices are quite simple than any other devices that majorly lead the market.
A biopsy is a medical test performed to examine and remove cancerous tissue from the body. When a patient is suspected of having cancer, a biopsy is used to extract tissue samples to diagnose the disease.
The intense competitive rivalry among the key players to uphold their market shares is expected to fuel innovation and, in turn, help enhance the overall growth of this market. In addition, the increasing prevalence of cancer, growing demand for minimally invasive medical procedures, and increased spending for effective diagnostic procedures are pivotal factors driving the global biopsy devices market.
An increase in breast cancer screening procedures complaints is one of the key restraints for the biopsy devices market.
This research report on the Latin American liquid biopsy market has been segmented & sub-segmented into the following categories:
By End User:
Geographically, in Latin America, the Mexican biopsy devices market is predicted to dominate the Latin American market and is expected to continue its dominance over the forecast period. The Brazilian biopsy devices market is estimated to grow at the highest growth rate from 2023 to 2028. The rise in demand for early cancer detection and the adoption of needle biopsy devices are fuelling the market growth. The Brazilian healthcare sector is emerging the economics along with several hospitals.
The Biopsy devices market in Argentina is following Brazil in leading prominent shares of the market. The adoption of advanced diagnostic technology in diagnostic centers and hospitals is mainly propelling the market's demand. As a result, Argentina medical devices hold approximately 25% of the market share in higher-end technology products.
In the Biopsy devices market in Peru, an increasing number of breast cancer cases is enhancing the market's growth rate. Peru improves its healthcare accessibility & quality of biopsy devices in the market. They are using fine-needle aspiration biopsy & treatment at cancer institutes. In addition, the government provides training to their hospital staff about biopsy through physicians. In 2015, private hospital nurse staff arranged the program to provide awareness about FNAB & Ultrasound devices.
KEY MARKET PLAYERS:
A few of the prominent companies in the Latin America 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.
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