Biopsy Devices Market by Product (Biopsy Forceps, Localization Wires, Needle-Based Biopsy Instruments), Technique (Image Guided Biopsy, Non-Image Guided Biopsy), Application, End User - Global Forecast 2024-2030

Biopsy Devices Market by Product (Biopsy Forceps, Localization Wires, Needle-Based Biopsy Instruments), Technique (Image Guided Biopsy, Non-Image Guided Biopsy), Application, End User - Global Forecast 2024-2030

The Biopsy Devices Market size was estimated at USD 9.47 billion in 2023 and expected to reach USD 10.46 billion in 2024, at a CAGR 10.82% to reach USD 19.46 billion by 2030.

The biopsy devices are used explicitly in diagnostic procedures that involve the extraction of sample cells and tissues for examination aimed at identifying the existence and extent of a disease. These devices range from needle biopsy devices, biopsy guidance systems to biopsy forceps. Biopsy devices have a crucial role in several medical applications pertaining to disease detection and monitoring, including breast biopsy, gastrointestinal biopsy, prostate biopsy, liver biopsy, and lung biopsy. An increasing prevalence of cancer worldwide and a growing preference for minimally invasive surgeries are pivotal factors driving the market growth. In contrast, high equipment costs, risks associated with biopsy procedures, and the stringent regulatory hurdles by health authorities hinder the market growth. However, several vendors are focusing on R&D to overcome these issues. Furthermore, advancements in the manufacturing process of biopsy devices, extending the usage of biopsy devices in research and tissue banking, improved healthcare infrastructures, and investments in emerging economies contribute to market expansion.

Regional Insights

The Americas region has witnessed a rising trend in the utilization of biopsy devices due to the increase in various cancer cases. According to the American Cancer Society, in 2023, there are estimated to be 1,958,310 new cancer cases. This directly contributes to the need for biopsy devices. State-of-the-art technology and medical advancements, alongside favorable reimbursement policies in this region, contribute to the market growth. Also, growing awareness about early detection of cancer, reinforced by strong healthcare marketing, paves the path for increased use of biopsy devices in the region. Furthermore, the EMEA region, characterized by rapidly aging populations and a high incidence of cancer, has a strong need for biopsy devices. The market inflow is also credited to the adoption of technologically advanced healthcare equipment and infrastructure. National healthcare systems in this region promote timely and accurate cancer diagnosis, enabling increased biopsy device utilization. The awareness campaigns by the World Health Organization (WHO) and the European Institute of Oncology stimulate the need for biopsy devices in the region. Moreover, the APAC region is experiencing a rapid increase in lifestyle-related diseases, including cancers. The aging population, environmental pollution, and unhealthy lifestyle habits are fueling the incidences of cancer, thereby increasing the need for biopsy devices. In addition, improving healthcare systems, increasing healthcare spending, and raising awareness about early cancer detection are other factors fostering the adoption of biopsy devices.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Biopsy Devices Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Growing incidences of cancer and gastrointestinal diseases
    • Rise in adoption of minimally-invasive techniques
    • Increasing awareness of the importance of early detection and screening of diseases
    • Market Restraints
      • High cost associated with the production of biopsy devices
      • Market Opportunities
        • Continuous technological advancements in biopsy devices
        • Growing inclination towards liquid biopsy devices
        • Market Challenges
          • Problems associated with stringent regulations by health authorities
          • Market Segmentation Analysis
            • Product: Growing preference for needle-based biopsy instruments as it provide minimal risk of complications
            • Technique: Significant role of MRI-guided biopsy in biopsy device for high diagnosis accuracy
            • Application: Growing need for breast and prostate biopsy devices due to increasing instances of cancer in both areas
            • End User: Rising utilization of biopsy devices that promote lesser recovery time in the hospitals
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Biopsy Devices Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Biopsy Devices Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • LUMINELLE Announces China National Intellectual Property Administration’s Decision to Grant Issuance of Patent for LUMINELLE Bx (Biopsy) System, Expanding Global Footprint
              
              LUMINELLE (UVision360, Inc.) has been granted a Chinese patent titled Biopsy Device and Method for its Bx System, securing international intellectual property rights. This groundbreaking system reduces the need for anesthesia, allowing for accurate sampling in the office setting.
              
              Limaca Medical Receives FDA 510(k) Clearance for its Breakthrough Precision GI Endoscopic Biopsy Device
              
              Limaca Medical Ltd.'s Precision GI Endoscopic Ultrasound (EUS) Biopsy Device has received 510(k) clearance from the FDA after being designated as a Breakthrough Device. This device is designed to enhance the accuracy and efficiency of biopsies, enabling a more definitive diagnosis of pancreatic and other gastrointestinal (GI) cancers.
              
              Stryker Announces Commercial Launch of Q Guidance System with Cranial Guidance Software
              
              Stryker Corporation launched the Q Guidance System with Cranial Guidance Software. This innovative system is designed to assist surgeons in accurately positioning instruments and identifying patient anatomy during cranial surgery. It is particularly beneficial for craniotomies, skull base and transsphenoidal procedures, shunt placements, and biopsies.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Biopsy Devices Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Biopsy Devices Market, highlighting leading vendors and their innovative profiles. These include Advin Health Care, Argon Medical Devices, Inc., Axlab Limited, B. Braun SE, Becton, Dickinson and Company, Boston Scientific Corporation, Cardinal Health, Inc., CONMED Corporation, Cook Group Incorporated, Danaher Corporation, F. Hoffmann-La Roche Ltd., Ferrosan Medical Devices A/S, Fujifilm Holdings Corporation, Guardant Health, Inc., Hologic, Inc., Innovia Medical, INRAD, Inc., Integra LifeSciences Holdings Corporation, IZI Medical Products, LLC by Halma PLC, JEB Technologies Limited, Limaca-Medical, MediTech Devices Pvt Ltd., Medtronic PLC, Merit Medical Systems, Inc., Mermaid Medical, Olympus Corporation, PAJUNK GmbH Medizintechnologie, Remington Medical, Spectra Medical Devices, LLC, Stryker Corporation, Suretech Medical Inc., Trajan Scientific and Medical Pty Ltd., TransMed7, LLC, TSK Laboratory, UVision360, Volkmann MedizinTechnik GmbH, weLLgo Medical Products GmbH, and Zamar Care.
            
            Market Segmentation & Coverage
            
            This research report categorizes the Biopsy Devices Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Product
              • Biopsy Forceps
              • Localization Wires
              • Needle-Based Biopsy Instruments
                • Aspiration Needles
                • Core Biopsy Devices
                • Vacuum-Assisted Biopsy Devices
                • Procedure Trays
                • Technique
                  • Image Guided Biopsy
                    • MRI-Guided Biopsy
                    • Stereotactic-Guided Biopsy
                    • Ultrasound-Guided Biopsy
                    • Non-Image Guided Biopsy
                    • Application
                      • Bone Marrow Biopsy
                      • Breast Biopsy
                      • Kidney Biopsy
                      • Lung Biopsy
                      • Prostate Biopsy
                      • End User
                        • Academic & Research Institutes
                        • Diagnostic & Imaging Centers
                        • Hospitals
                        • Region
                          • Americas
                            • Argentina
                            • Brazil
                            • Canada
                            • Mexico
                            • United States
                              • California
                              • Florida
                              • Illinois
                              • New York
                              • Ohio
                              • Pennsylvania
                              • Texas
                              • Asia-Pacific
                                • Australia
                                • China
                                • India
                                • Indonesia
                                • Japan
                                • Malaysia
                                • Philippines
                                • Singapore
                                • South Korea
                                • Taiwan
                                • Thailand
                                • Vietnam
                                • Europe, Middle East & Africa
                                  • Denmark
                                  • Egypt
                                  • Finland
                                  • France
                                  • Germany
                                  • Israel
                                  • Italy
                                  • Netherlands
                                  • Nigeria
                                  • Norway
                                  • Poland
                                  • Qatar
                                  • Russia
                                  • Saudi Arabia
                                  • South Africa
                                  • Spain
                                  • Sweden
                                  • Switzerland
                                  • Turkey
                                  • United Arab Emirates
                                  • United Kingdom
                                  
                                  
                                  Please Note: PDF & Excel + Online Access - 1 Year