Biopsy Guidance System Market by Product (MRI Guided Biopsy, Stereotactic Guided Biopsy, Ultrasound Guided Biopsy), Application (Brain Biopsy, Breast Biopsy, Lungs), End-Use - Global Forecast 2024-2030

Biopsy Guidance System Market by Product (MRI Guided Biopsy, Stereotactic Guided Biopsy, Ultrasound Guided Biopsy), Application (Brain Biopsy, Breast Biopsy, Lungs), End-Use - Global Forecast 2024-2030

The Biopsy Guidance System Market size was estimated at USD 1.44 billion in 2023 and expected to reach USD 1.54 billion in 2024, at a CAGR 7.34% to reach USD 2.38 billion by 2030.

The biopsy guidance system market encompasses the sales and development of medical devices and software that assist physicians in accurately locating the site for biopsy procedures. These biopsy guidance systems utilize a variety of modalities such as ultrasound, magnetic resonance imaging (MRI), computed tomography (CT), and other image-guided technologies to provide real-time assistance in accurately locating and targeting abnormal tissue for a biopsy. The ​​growing incidences of cancer and gastrointestinal diseases is increasing the need for biopsy guidance systems. The rising awareness of breast cancer treatment & diagnosis and increasing preference for minimally invasive biopsy treatments has significantly contributing to the market growth. However, high cost associated with the production of biopsy guidance systems may limit the adoption of biopsy guidance systems. Technical complexities associated with biopsy guidance systems are also a concerning factor for the market growth. Moreover, the technological advancements in biopsy guidance systems is expected to create significant growth potential in the market. Improved healthcare infrastructure and healthcare spending are also anticipated to generate attractive opportunities for the market growth.

Regional Insights

The Americas region is characterized by the presence of advanced healthcare infrastructure, higher healthcare spending, and a greater emphasis on early diagnosis and personalized medicine, which fuels the need for sophisticated biopsy guidance systems. Additionally, this region remains a hub for innovative startups and established companies seeking to improve the performance of cancer diagnostics. The European Union is associated with the widespread adoption of biopsy guidance systems due to the region's strong healthcare policies and well-established reimbursement frameworks. There is an emphasis on quality healthcare with a focus on advanced medical devices. The EU's regulatory environment also supports innovation through funding initiatives and facilitates research collaborations between private and public players. Asia Pacific is a rapidly growing region in the biopsy guidance system market. In China, large-scale investments in healthcare and growing public awareness about cancer are key factors propelling the need for biopsy guidance systems. The Chinese government's initiatives to reform healthcare and emphasis on emerging medical technologies have driven the adoption of advanced biopsy systems. Technological innovation, high healthcare standards, and a rapidly aging population drive Japan's need for biopsy guidance systems.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Biopsy Guidance System 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 chronic diseases requiring diagnostic procedures
• Increasing preference for minimally invasive biopsy treatments
• Government campaigns and initiatives for early disease diagnosis

Market Restraints

• Need for specialized training and inaccuracy of biopsy systems

Market Opportunities

• Technological advancements in biopsy guidance systems
• Favorable reimbursement policies for biopsy procedures

Market Challenges

• Technical complexities associated with biopsy guidance system

Market Segmentation Analysis

• Product: Increasing inclination towards ultrasound guided biopsy for improved imaging capabilities
• Application: Improved applications for breast biopsies for enhanced accuracy
• End-Use: Adoption of biopsy guidance systems in hospitals to enable high-quality imaging for diagnostic applications

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 Guidance System 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 Guidance System 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

FDA Clears MRI-Compatible Robotics System for Breast Biopsy

Insight Medbotics received United States Food and Drugs Administration (FDA) 510(k) clearance of its innovative IGAR (Image-Guided Autonomous Robot) system, marking it as the inaugural robotic platform sanctioned for deployment within an MRI bore, specifically tailored for breast biopsy procedures. This breakthrough underscores Insight Medbotics' commitment to being a key player in patient-centric innovations in medical imaging and biopsy techniques.

Stryker Launches Q Guidance with Cranial Guidance Software

Stryker Corporation announced the launch of its innovative Q Guidance System, enhanced with cranial guidance software. This state-of-the-art system represents the forefront of surgical planning and operative precision in cranial procedures. The Q Guidance System is ingeniously designed to facilitate intricate tasks such as superlative instrument positioning and critical patient anatomy recognition during neural operations. This strategic move by Stryker closely follows the recent unveiling of the Ortho Q fully autonomous guidance system, marking another significant milestone in Stryker's commitment to innovative medical technology.

GE HealthCare Announces Agreement to Acquire IMACTIS to Strengthen Capabilities in Interventional Guidance

GE Healthcare announced the acquisition of IMACTIS, a key player in the dynamic domain of CT interventional guidance, committed to enhancing various medical care procedures. IMACTIS is a France-based company that created CT-Navigation. This ergonomic universal solution provides stereotactic needle guidance and enables intuitive pre-planning of various procedures, from diagnosis to treatment. GE HealthCare is set to leverage its vast market presence to augment the reach and impact of IMACTIS's cutting-edge CT navigation, thereby elevating the precision and efficiency of healthcare services provided to its widespread client base.

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 Guidance System 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 Guidance System Market, highlighting leading vendors and their innovative profiles. These include Argon Medical Devices, Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Biobot Surgical Pte Ltd., Body Vision Medical Ltd., Boston Scientific Corporation, Cardinal Health, Inc., Cook Group Incorporated, Danaher Corporation, Fujifilm Holdings Corporation, GE Healthcare, Hologic, Inc., IMS Giotto S.p.A, Inomed Health Limited, INRAD Inc., IZI Medical Products, KOELIS, Koninklijke Philips N.V., KPI Healthcare India pvt Ltd, Mauna Kea Technologies, Medtronic PLC, Merit Medical Systems, NeoDynamics AB, Olympus Corporation, Planmed Oy, Siemens Healthineers AG, STERYLAB S.r.l., Stryker Corporation, and Trivitron Healthcare.

Market Segmentation & Coverage

This research report categorizes the Biopsy Guidance System Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Product
• MRI Guided Biopsy
• Stereotactic Guided Biopsy
• Ultrasound Guided Biopsy
• Application
• Brain Biopsy
• Breast Biopsy
• Lungs
• Prostate
• End-Use
• Diagnostic Centers
• Hospitals
• Research & Academic Institutes
• Specialty Clinics

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