Biopsy Devices Market

Biopsy Devices Market Size (2023 to 2032)

The global biopsy devices market was valued at USD 2217 million in 2023. The global biopsy devices market is expected to have a 7.47% CAGR from 2024 to 2032 and be worth USD 4239.85 million by 2032 from USD 2382.61 million in 2024.   

A biopsy is a procedure to perform surgical removal of tissue from an organ to determine the presence or extent of disease, generally cancer or inflammatory conditions, typically performed by surgeons, radiologists, and interventional cardiologists. Biopsies can be performed on any organ using a specific biopsy device to confirm for cancer or celiac diseases. The usage of biopsy devices varies according to the type of organ under consideration. Conventional biopsy devices can be used along with advanced imaging technologies such as MRI Guided biopsy, stereotactic guided biopsy, ultrasound-guided biopsy, CT scan, etc.

Biopsy devices help perform integrated procedures that are important to perform biopsies in critical areas of the body, such as the lungs, liver, and kidney. A biopsy is the surgical removal of tissue from an organ to determine the presence or level mostly cancerous and inflammatory conditions. This diagnostic process is usually performed by surgeons, radiologists, and interventional cardiologists, to substantiate the presence of cancerous tissue.

MARKET DRIVERS

Y-O-Y growth in cancer incidence, growing demand for minor invasive surgeries, and increasing support and initiatives from the governments are primarily accelerating the development of the global biopsy devices market.

The global biopsy devices market is further expected to be driven by rising incidences of chronic medical conditions, a fast-growing senior population, rising healthcare expenditures, and considerable research and development (R&D) efforts during the forecast period. In addition, consumer awareness of the availability of diagnostic and screening procedures for chronic diseases is increasing, which is driving demand for integrated technologies such as stereotactic-guided biopsies and smart biopsy systems that help distinguish healthy cells from tumorous cells, which is also expected to accelerate the growth rate of the global biopsy devices market.Additionally, increased public awareness of the need for early disease detection and improved product designs are also driving the growth of the global biopsy devices market. Although the research in biopsy diagnostics is not as advanced as in Western countries, regions such as Asia-Pacific are still growing faster than their western counterparts. Hence, more funding is being received for cancer diagnostic research.

MARKET RESTRAINTS

High prices of these cutting-edge instruments are a deterrent in price-sensitive markets such as South East Asia. In addition, product recalls due to a rising number of quality and accuracy issues have hindered the growth of this market. Recently, the Asia-Pacific region has been witnessing a massive challenge in the growing COVID-19 cases, which has adversely influenced even cancer diagnostics. As a result, cancer patients are faced with tremendous diagnosis and treatment issues, and progress tests are delayed as hospitals struggle with rising COVID-19 cases.Lack of or poor awareness of the diagnosis of chronic diseases is a major restraint for the market. Additionally, factors such as time-consuming, irreproducible nature, qualification needs, and required standardizations are hindering the market's growth rate.

REPORT COVERAGE

SEGMENTAL ANALYSIS 

Global Biopsy Devices Market Analysis By Type

The needle biopsy segment is forecasted to hold the largest share in the global market during the forecast period based on the type. Factors such as the growing number of breast cancers, gastrointestinal tract diseases, and soft tissue sarcomas are accelerating this segment. According to the National Cancer Institute (NCI), in 2019, around 61,780 leukemia cases and 22,480 people died due to leukemia in the U.S in 2019.The vacuum-assisted biopsy sub-segment was the top-performing under needle biopsy segment in 2019. The vacuum-assisted biopsy device is one of the most important diagnostic procedures. The increasing demand for vacuum-assisted biopsy devices, ongoing research, and development in the medical devices sector has led to the launch of new equipment and systems worldwide. The mentioned above factors propel the biopsy devices market globally.

REGIONAL ANALYSIS

North America holds the most significant share in the global biopsy device market due to the increasing geriatric population. Europe has the second primary market for biopsy devices due to the acceptance of advanced technology in biotechnology and research and innovation technologies. The Asia Pacific is estimated to represent strong potential market growth in the biopsy devices market due to fast technological advancements. As a result, the Asia-Pacific region is expected to witness the highest CAGR during the forecast period. The rapid growth of this segment can be attributed to the rising prevalence of cancer moreover large populations in countries such as China and India, improving healthcare infrastructure. However, patient safety risks associated with biopsy devices leading to product recalls, and the risk of infections related to biopsy procedures are expected to hinder the growth of this market to a certain extent.

The Asia Pacific region is the third-largest in terms of market share after North America and Europe. However, it is also the fastest-growing region in the world. Reforms introduced in India and China are poised to increase their purchasing power, further escalating the market's growth. China is the biggest name in this region, followed closely by Japan and India. Japan has a better healthcare infrastructure conducive to research, but India is the fastest-growing market due to the sheer size of the diseased population. 

One recent factor that may significantly shift the region's landscape is the anti-China sentiment in countries, especially India. With the Indian government's increased efforts to make everything in-house, the upcoming few years would be the one to watch out for as other countries’ dependence on China is likely to lessen, with India being an obvious alternative. South Korea and Australia are the other notable countries in the market.

KEY PLAYERS IN THE GLOBAL BIOPSY DEVICES MARKET

Some of the notable companies dominating the global biopsy devices market profiled in this report are Medtronic, Leica Biosystems, Hologic Inc., Boston Scientific Corporation, Becton, Cook Medical Inc., C.R. Bard Inc., Mauna Kea Technologies, Ethicon EndoSurgery Inc., Veran Medical Technologies, Dickinson and Company, Fujifilm Medical Systems, MDxHealth, Argon Medical Devices Inc. and Intact Medical Corp.

RECENT HAPPENINGS IN THE MARKET

• In January 2021, Hologic Inc. acquired Somatex Medical Technologies GmbH. With this acquisition, Hologic increments its sales presence in Europe by enlarging its channel in Germany. Somatex focuses on developing and manufacturing minimally invasive surgeries in tumor diagnostics and a biopsy to continue its breast health portfolio growth. 
• In February 2019, Medtronic retained the Synergy Cranial Software and StealthStation S7. The synergy cranial software and stealth station s7 surgical navigation system delivers complete 3dimensional images of the patient's brain, assisting the neurosurgeons in handling surgical tools and implants used during brain surgery. 
• In July 2019, Fujifilm Medical Systems Inc. U.S.A extended its breast imaging solutions by introducing its Tomosynthesis Biopsy option for Aspire Cristalle mammography system. Tomosynthesis is to determine the 3-D coordinates of the suspicious lesion in the breast. 
• In September 2018, Olympus won the FDA clearance for its EZ Shot 3-plus G, a single-use endoscopic ultrasound fine needle for fine needle aspiration and delicate needle biopsy procedures. The Shot 3plus used to perform methods on submucosal and extramural lesions over the GI tract. 

DETAILED SEGMENTATION OF THE GLOBAL BIOPSY DEVICES MARKET

This research report on the global biopsy devices market has been segmented & sub-segmented based on the product, type, application, end-user, and region.

By Product

• Instruments
  • Manual
  • Automated
  • Semi-automated
• Consumables
  • Reagents
  • Kits

By Type

• Needle Biopsy
  • core needle biopsy
  • fine-needle biopsy
  • vacuum-assisted biopsy
• Surgical Biopsy
  • Incisional biopsy
  • Excisional biopsy

By Application

• Scientific Research
• Medical Diagnosis
• Agricultural Applications
• Genetic Fingerprinting
• Sex Determination

By End User

• Pharmaceutical and Biology Industry
• Academic Research Institute
• Contract Research Organizations
• Forensic Labs

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa