Biopsy Devices Market Overview & Highlights:
Biopsy devices are equipment used during biopsy procedures that are carried out for the diagnosis of cancer, kidney, lung diseases, and other several diseases. The global biopsy devices market is booming over the last couple of decades, mainly due to the increasing prevalence of kidney diseases and transplants. Besides, kidney diseases & disorders and other chronic conditions such as high blood pressure & diabetes are supporting the growth of the market, creating the demand for better diagnostic & treatments.
According to a leading research firm - Market Research Future (MRFR), the global Biopsy Devices Market is poised to reach a valuation of USD 2.4 BN by 2022. In its recently published analysis, MRFR also asserts that the market would register a CAGR over 6% throughout the forecasted period (2016 – 2022). Technological advancements and the proliferation of the Internet of Things (IoT) devices is fostering the growth of the market, bringing about smart and connected devices.
Additional factors propelling the market growth, include, the changing lifestyle due to the rapid urbanization and the improving economic conditions that are increasingly enabling access to improved healthcare. Furthermore, rising demand for new techniques for the diagnosis of chronic diseases, increasing numbers of biopsy procedures, and advancements in surgical procedures fuel the growth of the market.
On the flip side, factors such as prohibitive costs of these devices are some of the key factors impeding the market growth. Also, the increasing number of spurious and counterfeit devices floating in the market is reducing the total market revenues by displacing standard devices off the market. The presence of well-established market players alongside the availability of new products and services would support the growth of the market during the review period.
Players leading the global biopsy devices market include Precision Biopsy, LLC. (US), Cook Medical, Hologic, Inc., Scion Medical Technologies, LLC. (UK), Leica Biosystems, C. R. Bard, Inc., Argon Medical Devices, Inc., Creganna, Focal Therapeutics, Inc., and Integra LifeSciences Corporation, among others.
January 08, 2019 ---- IZI Medical Products, LLC (the US), an interventional radiology medical device company, announced the acquisition of soft tissue biopsy and breast localization needle assets from Cook Medical Incorporated (the US). The assets include MReye Breast Localization Coil, Quick-Core Biopsy Needle, and the Kopans and X-Reidy Lesion Localization Needles. This is IZI’s third add-on acquisition in the last 18 months.
The deal would increase IZI’s market penetration for these products through significant investment in domestic and international selling resources, select product enhancements, and new product development.
Global Biopsy Devices Market- Segments
The report is segmented into four market dynamics to widen the scope of understanding,
By Product Type: Biopsy Guidance System, Biopsy Guns, Biopsy Needles, and Forceps, among others.
By Application : Skin biopsy, Surgical biopsy, Needle biopsy, Cancer Diagnosis, and Bone marrow biopsy, among others.
By End-user: Specialty Clinics, Hospitals, Diagnostic centers, and Academic & Research Institutes, among others.
By Regions: Europe, North America, Asia Pacific, and the Rest-of-the-World.
Global Biopsy Devices Market - Competitive Analysis
Fiercely competitive, the biopsy devices market appears to be fragmented due to the presence of several well-established players. These players, alongside the small-scale players and new entrants, form a competitive landscape. The increasing demand for these devices is offering opportunities for market players, opening doors for the development of new devices. At the same time, the availability of spurious and counterfeit devices is displacing standard devices off the market and thus reducing the total market revenues.
Global Biopsy Devices Market- Regional Analysis
North America leads the global biopsy devices market, witnessing extensive adoption of technologically advanced medical devices. Moreover, factors such as increasing governmental support for R&D activities, and high health care expenditures foster regional market growth. Furthermore, the increasing prevalence of diabetes, kidney diseases, and renal failures boost the growth of the regional market. The biopsy devices market in North America is estimated to reach USD 2.4 BN by 2022.
The biopsy devices in the European region takes the second leading position. Factors such as the increasing emphasis on the development of advanced diagnostic devices and increasing funding and support from the government for R&D activities drive the regional market growth. Simultaneously, the rising numbers of specialty services offered by various healthcare providers foster the increase in the regional market.
The Asia Pacific biopsy devices market is rapidly emerging as a promising market globally. Rapidly developing healthcare technology alongside the rising numbers of urology centers provide impetus to the regional market growth. Growing incidences of diabetes and increasing numbers of kidney transplant procedures are boosting the market demand in the APAC region. The increasing demand for quality devices and improving economic conditions are some of the factors expected to fuel the growth of the biopsy devices market in the APAC region.
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