The North American Biopsy Devices Market size was worth USD 649.34 million in 2022 and is estimated to be growing at a CAGR of 6.82% to reach USD 903.09 million by 2027. North America holds the most significant share in the global biopsy device market due to the increasing geriatric population.
The North American biopsy device market has huge potential due to the augmented need to use minimally invasive devices. In addition, an entire range of biopsy devices accessible in the market can ease a cancer diagnosis process.
The Biopsy devices market in the North American region is mainly driven by the growing significance of minimally invasive procedures. An increasing number of cancer cases and the government have come forward with initiatives to diagnose the diseases early. Increasing demand for minimum invasive biopsy methods like needle-based biopsy guns and vacuum-assisted devices can escalate the market growth during the analysis period. In addition, an increasing number of breast cancer cases and awareness among the public towards disease identification fosters the forecast period's biopsy devices market growth.
The market drivers for the biopsy device are the augmented population awareness and increased cancer population, increased demand for screening tests, and entry of emerging markets. In addition, the rising occurrence of several forms of cancer and a significant presence of unmet market demand for efficient and accurate cancer diagnostic procedures, especially in resource-limited settings such as in emerging economies, are expected to support the industry's future growth.
The cost associated with the biopsy devices required during the process of the treatment is impeding the growth. Moreover, strict regulations for utilizing these biopsy devices and FDA approvals for launching the new devices into the market by manufacturing industries may hamper the market growth. In addition, the lack of awareness among the public regarding the biopsy devices obstructs the market during the analysis period.
This research report on the North American Biopsy Devices Market has been segmented & sub-segmented into the following categories:
By End User:
Regionally, North America holds the largest share in the biopsy devices market with high capacity and ability, which owes to escalating cancer population, demand for biopsy devices for diagnosis and treatment of the diseases augmenting the market growth over the review period. The number of cancer cases is expected to be 439.2 per 100,000 in men and women every year.
The United States is leading the biopsy devices market in this region due to advancements in technology. In addition, a frequent increase of diseases like cancer and a high occurrence rate of chronic diseases fuel the growth of biopsy devices in this region. Every year, 1,735,350 new cancer cases are registered, of which 609,640 deaths occur.
The Canadian market for biopsy devices is expected to have a fast growth rate following the U.S. The factors driving this country are increasing healthcare expenditure. Also, the government takes measures for public safety, and favorable government policies spur the market demand. As a result, nearly 220,400 cancer cases were diagnosed in Canada in 2019.
Companies playing a dominating role in the North American biopsy devices market 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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