Breast Biopsy Devices Market by Type (Needles, Tables, Assay kits, Liquid Biopsy), Procedure (CNB, FNAB, VAB, Surgical), Technique (Stereotactic, USG, MRI), Application (Screening, Treatment), End User (Hospitals, Clinic) & Region - Global Forecast to 202

Breast Biopsy Devices Market by Type (Needles, Tables, Assay kits, Liquid Biopsy), Procedure (CNB, FNAB, VAB, Surgical), Technique (Stereotactic, USG, MRI), Application (Screening, Treatment), End User (Hospitals, Clinic) & Region - Global Forecast to 2028

The global breast biopsy devices market is projected to reach USD 2.6 billion by 2028 from USD 1.6 billion in 2023, at a CAGR of 10.0% from 2023 to 2028. The market growth is propelled by various factors, including the growing prevalence of breast cancer, the increasing implementation of breast cancer screening programs, favorable reimbursement settings, heightened awareness of early breast cancer detection, and rising demand for minimally invasive and non-invasive procedures. These factors are key drivers of market expansion, presenting significant business opportunities in the industry.

“The biopsy needles sub-segment to hold the largest share of the market in 2023.”

Based on type, the breast biopsy devices market is segmented into biopsy needles, guidance systems, biopsy tables, localization wires, assay kits, liquid biopsy instruments, and other devices. The biopsy needles sub-segment held a major share of the market. The advantages offered by the substantial market dominance of this segment can be primarily attributed to the increasing occurrence of breast cancer and the rising rate of breast cancer diagnosis in emerging markets. Moreover, supportive government initiatives, such as the establishment of breast cancer screening programs and awareness campaigns, are anticipated to drive the adoption of breast biopsy procedures further.

“The therapy selection application segment is projected to register the highest growth during the forecast period.”

Based on application, the near breast biopsy market is broadly categorized into early cancer screening, therapy selection, treatment monitoring, and recurrence monitoring. The significant growth of the segment is attributed to the favorable reimbursement scenario and availability of advanced healthcare infrastructure. The emergence of precision medicine and personalized cancer treatment based on genetic analysis of tumor tissue over the past few decades has resulted in more specific treatment options which is further expected to influence the growth of the segment during the forecast period.

“The liquid breast biopsy segment is projected to register the highest CAGR during the forecast period.”

Based on procedure, the breast biopsy market is broadly categorized into needle breast biopsy, open surgical breast biopsy, and liquid breast biopsy. The substantial growth of this segment during the review period can be attributed to the approvals and launches of new products. Companies operating in the liquid breast biopsy market are actively investing in clinical trials and research through funding and grants, which will fuel further market expansion. These initiatives by industry players are expected to drive the growth of the liquid breast biopsy segment.

“The market in the North America region is expected to witness the highest growth during the forecast period.”

The breast biopsy market in the North America region is expected to hold a major share during the forecast period, primarily due to the high healthcare spending in the region and the rising prevalence of target diseases. Moreover, continuous advancements in technology, increasing incidence rates of breast cancer, favorable reimbursement conditions, and the implementation of new breast density notification laws in the US will further boost market growth.

A breakdown of the primary participants referred to for this report is provided below:

By Company Type: Tier 1–48%, Tier 2–36%, and Tier 3– 16%

By Designation: C-level–10%, Director-level–14%, and Others–76%

By Region: North America–40%, Europe–32%, Asia Pacific–20%, Latin America–5%, and the Middle East & Africa–3%

The prominent players in the breast biopsy devices market include Hologic Inc. (US), Danaher Corporation (US), Argon Medical Devices (US), Merit Medical Systems (US), Menarini-Silicon Biosystems (ITL), Becton Dickinson, and Company (US), Sterylab S.R.L ( Italy), Biocept, Inc. (US), Bio-Rad Laboratories, Inc. (US), F. Hoffmann-La Roche Ltd (Switzerland), Guardant Health, Inc. (US), NeoGenomics (US), Sysmex Inostics (Germany), Qiagen (Germany), Exact Sciences Corporation (US).

Research Coverage

This report studies the breast biopsy market based on type, procedure, technique, application, end-user, and geography. This study analyses the breast biopsy market. Additionally, it discusses the elements that influence market expansion, examines the opportunities and difficulties that exist in the sector, and gives information on the market's competitive environment for market leaders. The research also examines the growth trends of micro-markets and projects the revenue of market segments for each of the five major regions (as well as the individual nations within each region).

Reasons to Buy the Report

The market leaders and new entrants will benefit from the report's information on the revenue figures that are most closely approximated for the entire breast biopsy market and its subsegments. This study will assist stakeholders in comprehending the competitive environment and gaining deeper insights to better position their companies and develop appropriate go-to-market strategies. In addition, the research provides details on the major market drivers, constraints, challenges, and opportunities, assisting stakeholders in understanding the industry's pulse.

This report provides insights on the following pointers:

Analysis of key drivers (increasing incidence of breast cancer, increasing number of breast cancer screening programs, increasing demand for minimally invasive and non-invasive procedures, growing awareness regarding early detection of breast cancer, improved reimbursement scenario), restraints (risk of infections associated with the use of biopsy needles, stringent regulatory approval procedures product recalls), opportunities (emerging economies offer high growth potential, the emergence of liquid biopsy and promising clinical trials, increasing public–private investments and funding) and challenges (underdeveloped healthcare infrastructure and dearth of resources in developing countries).

Product development/innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the breast biopsy market.

Market development: comprehensive information about lucrative markets–the report analyses the breast biopsy market across varied regions.

Market diversification: exhaustive information about new products, untapped geographies, recent developments, and investments in the breast biopsy market.

Competitive assessment: in-depth assessment of market shares, growth strategies, and service offerings of leading players like Hologic Inc. (US), Becton Dickinson, and Company (US), Danaher Corporation (US), Argon Medical Devices(US), Merit Medical Systems (US), Menarini-Silicon Biosystems (ITL), Guardant Health, Inc. (US), NeoGenomics (US), Sysmex Inostics (Germany), Sterylab S.R.L ( Italy), Qiagen (Germany), and Biocept, Inc. (US).