Global Biopsy Devices Market Projected to Reach $11.86 Billion by 2027, Fueled by Rising Cancer Incidence and Advanced Diagnostic Procedures

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Nov 09, 2023, 19:45 ET

DUBLIN, Nov. 9, 2023 /PRNewswire/ -- The "Global Biopsy Devices Market - A Global and Regional Analysis: Focus on Product Type, Biopsy Type, Anatomy, Disease Type, Guidance Technique, Region, and Competitive Insights and Company Profiles - Analysis and Forecast, 2023-2027" report has been added to ResearchAndMarkets.com's offering.

The global biopsy devices market is poised to achieve a projected value of $11.86 billion by 2027, representing a remarkable Compound Annual Growth Rate (CAGR) of 15.15% during the forecast period from 2023 to 2027. Key drivers contributing to this growth include a surge in cancer incidence, the versatility of biopsy procedures, and government initiatives for early cancer detection.

Market Introduction

Biopsy devices are integral medical instruments used for collecting tissue samples from the human body, facilitating the diagnosis of various conditions, including cancer, infections, and inflammatory diseases. These devices play a vital role in improving patient outcomes by enhancing the accuracy, safety, and convenience of biopsy procedures.

Industry Impact

The biopsy devices market has significantly impacted the healthcare industry through several key developments:

Shift to Minimally Invasive Biopsies: The market has witnessed a notable shift from conventional surgical biopsies to minimally invasive needle-based biopsy instruments. This transition has reduced patient discomfort, accelerated recovery times, and expanded the scope of biopsy procedures beyond cancer diagnosis to include liver diseases, infectious diseases, autoimmune disorders, and therapeutic monitoring.
Improved Accuracy and Precision: Biopsy devices have evolved to offer increased accuracy and precision, enabling earlier and more accurate disease diagnosis, particularly in cases of cancer.
Enhanced Patient Outcomes: By improving the accuracy, precision, and accessibility of biopsy procedures, these devices have contributed to better patient outcomes across various medical conditions.
Integration of Advanced Imaging Technologies: The integration of advanced imaging technologies with biopsy procedures is revolutionizing diagnostics and treatment. This approach enhances precision, reduces invasiveness, and improves patient recovery outcomes.
Research and Development: The continuous growth of the biopsy market has spurred ongoing research and development efforts to explore new technologies and delivery methods, further enhancing patient diagnosis, treatment, and recovery.

Impact of COVID-19

The COVID-19 pandemic led to a temporary decrease in cancer cases and biopsy procedures. Restrictions and postponements of medical services, including cancer screening and diagnosis, contributed to a decline in cancer diagnostic tests. Reduced physician visits, cancer screening rates, and resection surgeries, particularly in regions heavily impacted by the pandemic, may have led to delayed diagnoses in various medical disciplines.

Market Segmentation

The global biopsy devices market is segmented as follows:

1. By Product:

Tissue Biopsy (Tissue Biopsy Devices, Consumables)
Liquid Biopsy (Test Service, Kits, Platforms, Consumables)

2. By Biopsy Type:

Tissue Biopsy (Needle Biopsy, Skin Biopsy, Surgical Biopsy)
Liquid Biopsy

3. By Disease Type:

Tissue Biopsy (Cancer, Infections, Autoimmune Disorders, Others)
Liquid Biopsy (Cancer, Non-Cancerous Indications)

4. By Anatomy:

Tissue Biopsy (Breast, Lung, Bone, Liver, Uterus/Cervix/Ovary, Abdomen, Prostate, Cardiac, Skin, Others)
Liquid Biopsy (Breast, Lung, Prostate, Others)

5. By Guidance Technique:

X-Ray-Guided Biopsy
Ultrasound-Guided Biopsy
MRI-Guided Biopsy
CT-Guided Biopsy

6. By Region:

Americas
EMEA
Asia-Pacific

Recent Developments in the Biopsy Devices Market

Key developments in the market include product launches, partnerships, acquisitions, and advancements in biopsy technologies:

Product Launches:

In May 2023, Argon Medical Devices, Inc. launched the SuperCore Advantage Semi-Automatic Biopsy instrument, expanding its soft tissue biopsy product portfolio in the U.S.
In April 2023, GE Healthcare introduced the bkActiv system for surgical applications, providing surgeons with advanced ultrasound imaging capabilities during surgical procedures.
In April 2021, Olympus Corporation expanded its U.S. bronchoscopy product line by introducing the H-SteriScope Single-Use Bronchoscopes, designed for advanced diagnostic and therapeutic procedures.

Partnerships and Collaborations:

In May 2022, Terumo India partnered with Argon Medical to provide comprehensive medical solutions, including biopsy tools and deep vein thrombosis treatments, in the Indian market.
In July 2022, the Food and Drug Administration granted approval for the incorporation of Siemens Healthineers' mobile imaging technology into Intuitive's robotic-assisted platform for minimally invasive lung biopsies.

Acquisitions:

In January 2023, GE Healthcare successfully completed an acquisition agreement with the France-based company IMACTIS, emphasizing the potential of IMACTIS' computerized tomography (CT) navigation product for safety and accuracy.
In August 2023, Agilent Technologies Inc. halted the operations of its Resolution Bioscience liquid biopsy division, focusing on other areas of its business.
In January 2023, Agilent Technologies Inc. acquired Avida Biomed to enhance its capabilities in the liquid biopsy space.

Advancements in Liquid Biopsy:

In September 2023, Dxcover Limited augmented its executive team to further develop its multi-cancer liquid biopsy platform.
In February 2023, Dxcover Limited raised $11.9 million in Series A and grant financing to advance its liquid biopsy platform for detecting early-stage cancers.
In February 2022, Dxcover Limited secured a U.S. patent for cancer diagnostic devices, including the Dxcover autosampler and the Dxcover brain cancer liquid biopsy.

Key Market Players and Competition

Several key players are actively contributing to the biopsy devices market. Companies profiled in the report include:

Argon Medical Devices, Inc.
B. Braun SE
Becton, Dickinson and Company
Boston Scientific Corporation
Cardinal Health, Inc.
Cook Group Incorporated
Conmed Corporation
FUJIFILM Holdings Corporation
GE Healthcare
Inrad, Inc.
Medtronic plc
Olympus Corporation
Siemens Healthineers AG
Stryker Corporation
Zamar Care
Changzhou Jiuhong Medical Instrument Co., Ltd.
Kindly (KDL) Meditech
Ningbo Xinwell Medical Technology Co., Ltd.
Shenzhen Manners Technology Co., Ltd.
Zhejiang Soudon Medical Technology Co., Ltd
Agilent Technologies, Inc.
BGI Group
Biocept, Inc.
Bio-Rad Laboratories, Inc.
Dxcover Limited
Elypta Limited
F. Hoffmann-La Roche Ltd
Illumina, Inc.
Micronoma
QIAGEN
Revvity, Inc.
Sysmex Corporation
Thermo Fisher Scientific Inc.

Key Questions Answered in the Report

What are the impacts of COVID-19 on the global biopsy devices market?
What are the key trends influencing the global biopsy devices market?
What does the patent landscape of the global biopsy devices market look like? Which year and country witnessed the maximum patent filings between January 2020 and December 2022?
What are the key regulations that impact the growth of the global biopsy devices market?
What are the key drivers, restraints, and opportunities for the global biopsy devices market, and what will be their impact on the market in short-, mid-, and long-term duration?
Which product type is projected to be the fastest-growing segment during the forecast period 2023-2027?
Which biopsy type is projected to be the fastest-growing segment during the forecast period 2023-2027?
Which segmentation holds the largest market share of the biopsy devices market based on guidance technique, and which one of those segments is expected to be the fastest growing segment during the forecast period 2023-2027?
Which is the major revenue-generating segment based on disease type for the biopsy devices market, and which one of those segments is expected to be the fastest growing segment during the forecast period 2023-2027?
Which country held the largest share of the market and is expected to register the fastest growth during the forecast period 2023-2027?
What is the competitive landscape in the global biopsy devices market?
Who are the key players in the global biopsy devices market, and what are their product offerings in the market?

For more information about this report visit https://www.researchandmarkets.com/r/u5fn16

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