Biopsy Devices Market Size, Share, Growth Analysis By 2027

Biopsy Devices Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product (Needle-Based Biopsy, Localization Wires, Procedure Trays, and Others); Technology (CT Scan, Ultrasound-Guided Biopsy, Stereotactic-Guided Biopsy, MRI-Guided Biopsy, and Others); Application (Lung Biopsy, Kidney Biopsy, Liver Biopsy, Breast Biopsy, and Others); and Geography

Publication Month : May 2020

  • Report Code : TIPHE100001402
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 196
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The biopsy devices market is anticipated to reach US$ 3,584.20 million by 2027 from US$ 2,230.86 million in 2019. The market is projected to grow at a CAGR of 6.2% from 2020 to 2027.

A biopsy is a medical examination generally implemented by surgeons, interventional radiologists, or interventional cardiologists to extract sample cells or tissues; these examinations assist in the identification and determination of disease conditions. The tissue is generally observed under a microscope by pathologists and can also be examined chemically. Biopsies are most commonly performed to identify cancerous and inflammatory conditions.

Lucrative Regions for Biopsy Devices Market

Lucrative Regions for Biopsy Devices Market

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Market Insights

Increasing Cancer Rates

Biopsy refers to a diagnostic test that helps identify various types of cancer and non-cancerous abnormalities in the human body. The increasing prevalence of cancer among population is likely to augment the growth of the biopsy devices market across the world. For instance, in Canada, cancer is the leading cause of death among population, and it is witnessed to be a second-leading cause after heart diseases in the US. As per the American Cancer Society, ~1.9 million new cancer cases and 693,000 cancer deaths were recorded in 2018. Prostate cancers are the most commonly diagnosed cancers among males in North America; however, breast cancers remain leading in females. Additionally, lung cancer remains the most common cause of death in both sexes. It is estimated that the number of new cases of cancer incidence is 439.2 per 100,000 men and women per year.

According to the National Health Profile, the cases of common cancers, including cervical, oral, and breast cancers, have increased by 324% in India from 2017 to 2018. Additionally, the total number of patients visiting Non-Communicable Diseases (NCD) clinics has doubled between 2017 and 2018, which is recorded to be 35 million and 66 million, respectively. Rapid change in lifestyle and consumption of alcohol and tobacco products is among the prominent factors increasing the incidences of cancer among the population.

BD, Qiagen, F.Hoffmann La-Roche Ltd., Hologic, and Boston Scientific Corporation are among the major companies manufacturing biopsy devices and accessories to diagnose cancer and other diseases. Therefore, the increasing prevalence of cancer across the world is expected to drive the growth of the global biopsy devices market during the forecast period.

Product-Based Market Insights

The biopsy devices market is segmented on the basis of product into needle-based biopsy, procedure trays, localization wires, and others. In 2019, the needle-based biopsy segment accounted for the largest share of the global biopsy devices market. The growth of the market for this segment is attributed to increasing adoption of needle based-biopsy procedures due to their high accuracy, with minimal injury. Furthermore, the segment is also likely to witness the fastest CAGR in the market during the forecast years.

Global Biopsy Devices Market, by Product – 2019 and 2027

 Global Biopsy Devices Market, by Product – 2019 and 2027

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Technology-Based Market Insights

Based on technology, the global biopsy devices market is segmented into CT-scan, ultrasound-guided biopsy, stereotactic biopsy, MRI, and others. In 2019, the ultrasound-guided biopsy segment held the largest share of the market. However, the CT-scan segment is anticipated to register a significant CAGR during the forecast period.

Application-Based Market Insights

The global biopsy devices market, based on application, is segmented into lung biopsy, kidney biopsy, liver biopsy, breast biopsy, and others. In 2019, the breast biopsy segment held the largest share of the market, and it is also expected to register the highest CAGR during 2020–2027.

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Biopsy Devices Market: Strategic Insights

biopsy-devices-market
Market Size Value inUS$ 2,230.86 Million in 2019
Market Size Value byUS$ 3,584.20 Million by 2027
Growth rateCAGR of 6.2% from 2020-2027
Forecast Period2020-2027
Base Year2020
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Partnerships, product launches, and acquisitions are the most commonly adopted strategies by companies to expand their footprints worldwide and meet the growing demand by broadening their product portfolios. For instance, in December 2017, BD, a leading provider of medical technology, acquired C. R. Bard, Inc. This acquisition has created a new healthcare industry leader in the global market. Bard, with its strong product portfolio and innovation pipeline, has increased the scope for opportunities in fast-growing medical devices business in the global markets.

Global Biopsy Devices Market – By Product

  • Needle-Based Biopsy
    • Core Biopsy Devices
    • Aspiration Biopsy Needles
    • Vacuum-Assisted Biopsy (VAB) Devices
  • Localization Wires
  • Procedure Trays
  • Others

Global Biopsy Devices Market – By Technology

  • CT-Scan
  • Ultrasound-Guided Biopsy
  • Stereotactic-Guided Biopsy
  • MRI-Guided Biopsy
  • Others

Global Biopsy Devices Market – By Application

  • Lung Biopsy
  • Kidney Biopsy
  • Liver Biopsy
  • Breast Biopsy
  • Others

Biopsy Devices Market – By Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Italy
    • UK
    • Spain
    • Sweden
    • Denmark
    • Norway
  • Asia Pacific
    • China
    • India
    • South Korea
    • Japan
    • Australia
  • Middle East and Africa
    • South Africa
    • Saudi Arabia
    • UAE
  • South and Central America
    • Brazil
    • Argentina

Company Profiles

  • BD
  • B. Braun Melsungen AG
  • Boston Scientific Corporation
  • Cardinal Health, Inc.
  • Cook Medical LLC
  • Danaher
  • Fujifilm Corporation
  • Hologic, Inc.
  • Medtronic
  • Argon Medical Devices
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product ; Technology ; Application ; and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What is biopsy?

A biopsy is a medical examination generally implemented by a surgeon, interventional radiologist, or an interventional cardiologist to extract sample cells or tissues and helps in identification, existence of a disease. The tissue is generally observed under a microscope by a pathologist, and can also be examined chemically. Biopsies are most commonly performed to identify cancerous and inflammatory conditions.

What are the driving factors for the biopsy devices market across the globe?

The biopsy devices market is anticipated to grow with a significant rate in the coming years, owing to factors such as rising patient awareness on cancer and the improvement in biopsy procedures. Increasing incidences of cancer such as breast, prostate, & lung, and rapid technological advancements, initiatives to spread awareness about cancer are expected to offer growth opportunities for the players operating in the market.

What is the regional analysis in terms of biopsy devices market?

North America is the largest market for the biopsy devices market. The factors that are responsible for the dominance of the region include rising government support through the for cancer care in the US and Canada, rising incidence of cancer patients leading to increased demand in kits and products used for testing and diagnosis, increasing awareness among general populace regarding advantages of early testing of diseases and consistent development and launch of novel biopsy products in the market through advanced and extensive research and development. The biopsy devices market in the US is expected to be the largest in the North American region. The growth of the market in the country is attributed to the active participation and support of the government towards the cancer care. Besides this, the increase in the number of cancer population and the technological developments in biopsy devices are likely to help in the growth of the market.

The List of Companies - Biopsy Devices Market

  1. BD
  2. B. Braun Melsungen AG
  3. Boston Scientific Corporation
  4. Cardinal Health, Inc.
  5. Cook Medical LLC
  6. Danaher
  7. Fujifilm Corporation
  8. Hologic, Inc.
  9. Medtronic
  10. Argon Medical Devices

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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