Biopsy Devices Market Worth $12.6 billion | MarketsandMarkets

CHICAGO, Oct. 20, 2023 /PRNewswire/ -- The biopsy devices industry is poised for significant transformation in the near future. With advancements in medical technology, including minimally invasive techniques and precision medicine, biopsy devices are evolving to offer more accurate and less invasive diagnostic procedures. These innovations promise to enhance patient comfort and reduce risks associated with traditional biopsies. Furthermore, the integration of artificial intelligence and machine learning is expected to play a pivotal role in streamlining data analysis and improving diagnostic accuracy. As the healthcare landscape continues to prioritize personalized and targeted treatments, the biopsy devices industry is likely to witness continued growth and innovation, ultimately contributing to better patient outcomes and a more efficient healthcare system.

Biopsy Devices Market in terms of revenue was estimated to be worth $6.6 billion in 2023 and is poised to reach $12.6 billion by 2028, growing at a CAGR of 14.0% from 2023 to 2028 according to a new report by MarketsandMarkets. The major factors driving the growth of this market include Progress in medical technology has resulted in the creation of increasingly accurate and less invasive biopsy instruments, thereby mitigating patient discomfort and expediting recovery periods.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=132886515

Browse in-depth TOC on "Biopsy Devices Market"
120 - Tables
60 - Figures
300 - Pages

Biopsy Devices Market Scope:

Technology segment to register significant growth rate over the forecast period of 2023-2028

Based on product, the global biopsy devices market is segmented into Needle Based Biopsy Instruments, Localization Wire, Procedure Tray, Biopsy Table and other biopsy products. The Needle Based Biopsy Instruments segment is anticipated to register the highest growth rate over the forecast period.

Breast Biopsy segment in application to register significant growth rate over the forecast period of 2023-2028

Based on end user, the global biopsy devices market is segmented into breast biopsy, bone marrow biopsy, lung, colorectal, kidney, prostate and others. Biopsy devices are medical tools used to extract a sample of tissue from a patient for diagnostic purposes. These devices are utilized by various healthcare professionals and organizations. Other end users may include healthcare professionals such as physicians, surgeons, and medical practitioners who perform biopsies as part of their clinical practice.The breast biopsy segment is anticipated to register the highest growth rate over the forecast period.

The hospitals and breast care centers segment accounted for the largest share of the biopsy devices market, by end user, in 2022

Based on end user, the multimodal market is segmented into hospitals and breast care centers, diagnostic imaging centres, research and academia and other end users. The hospitals and breast care centers segment accounts for the largest share of the market in 2022. As cancer awareness and screening programs expand, more patients are seeking diagnostic services in hospitals and specialized breast care centers. Secondly, advancements in imaging technologies and screening techniques have led to an increased demand for biopsy procedures in these settings to confirm diagnoses and plan personalized treatment strategies.

The Asia Pacific market to register a significant growth in the market during the forecast period

The Asia Pacific biopsy devices market is estimated to register a significant growth from 2023 to 2028. The increasing patient population, rising geriatric population, rapid economic growth and increasing disposable income are driving the market growth in APAC countries. This region is having a rise in healthcare investment and expenditure, offering significant growth opportunities for the key players.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=132886515

Biopsy Devices Market Dynamics:

Drivers:

1.  Rising prevalence of cancer

Restraints:

1.  Risk of infections

Opportunities:

1.  Technological Advancements

Challenge:

1.  Underdeveloped healthcare infrastructure and dearth of resources in developing countries

Key Market Players of Biopsy Devices Industry:

As of 2022, prominent players in the biopsy devices market are Becton, Dickinson and Company (U.S.), Devicor Medical Products, Inc., (Leica Biosystems) (Germany), B. Braun Melsungen AG (Germany), Cardinal Health, Inc. (U.S.), and Hologic, Inc. (US).

Recent Developments:

• In December 2022, Olympus entered into a definitive agreement, subsequently finalizing the acquisition of all outstanding shares of Odin Medical Ltd., a cloud-AI endoscopy company based in the UK. This acquisition was conducted through Olympus' UK subsidiary, Keymed (Medical & Industrial Equipment) Ltd.
• In November 2021, B. Braun and REVA Medical announced the strategic partnership for the distribution of Fantom Encore - a bioresorbable scaffold for coronary interventions, manufactured with REVA's patented material Tyrocore. B. Braun will start active distribution of the products in Germany and Switzerland in November 2021, with additional countries to follow afterwards.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=132886515

Biopsy Devices Market Advantages:

• Early Disease Detection: Biopsy devices enable the early detection of various diseases, including cancer and infectious conditions. This allows for prompt treatment, potentially improving patient outcomes and survival rates.
• Minimally Invasive Procedures: Many modern biopsy devices are minimally invasive, reducing patient discomfort, recovery time, and the risk of complications compared to traditional open surgeries.
• Personalized Medicine: Biopsies provide valuable information about an individual's unique genetic and molecular profile, facilitating the development of personalized treatment plans tailored to each patient.
• Diagnostic Accuracy: Biopsy devices offer highly accurate results, helping healthcare professionals make informed decisions about treatment options and disease management.
• Research and Development: Biopsy specimens are invaluable for research and drug development, enabling scientists to better understand diseases and develop more effective therapies.
• Quality of Life Improvement: Minimally invasive biopsy techniques can significantly enhance a patient's quality of life by reducing pain, scarring, and recovery time.
• Cost-Effective: Biopsies often represent a cost-effective diagnostic approach when compared to more extensive and invasive procedures, ultimately benefiting both patients and healthcare systems.
• Monitoring Disease Progression: Biopsies allow for the monitoring of disease progression and treatment effectiveness, enabling healthcare providers to adjust treatment plans as needed.
• Targeted Therapies: Biopsy results help identify specific molecular targets for novel and targeted therapies, potentially increasing treatment success rates and minimizing side effects.
• Non-Invasive Alternatives: Some emerging technologies, such as liquid biopsies, offer non-invasive means of collecting diagnostic information through blood or other bodily fluids, reducing patient discomfort even further.
• The biopsy devices market's advantages are not only pivotal in diagnosing and managing diseases but also in driving advancements in the healthcare industry, ultimately leading to better patient care and outcomes.

Related Reports:

Breast Biopsy Market - Global Forecasts To 2028

Breast Lesion Localization Market - Global Forecasts to 2028

Ultrasound Needle Guides Market - Global Forecasts to 2027

Liquid Biopsy Market - Global Forecasts to 2027

Aspiration Needles Market - Global Forecasts to 2027

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/biopsy-device-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/biopsy-device.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

SOURCE MarketsandMarkets