Biopsy Devices Market Overview

Other aspects enhancing the growth of the market include rigorous ER&D activities by medical device manufacturers, favorable medical devices regulations, and increasing investment by medical device manufacturers. Improving reimbursement scenario is also a key factor boosting the growth of the market. Furthermore, recent years have witnessed a surge in the number of FDA approvals for biopsy devices which have further hastened the growth of the market. For instance, in September 2018, Olympus received FDA clearance for both fine needle aspiration (FNA) and fine needle biopsy (FNB).

A biopsy is carried out to diagnose any inflammatory conditions, infestations diseases, in case of organ transplantation, and for the evaluation of fertility. However, biopsy has gained traction in the cancer arena. A biopsy is the only definitive way to determine the presence of cancer. Oncology diseases are spreading at an alarming rate which has generated massive demand for screening. There is a huge demand for high-quality diagnostic processes, especially huge unmet needs in the emerging economies of the world create a conducive environment for the growth of the global Biopsy Devices Market.

On the flipside, the high price of biopsy devices and lack of skilled healthcare professionals act as limitations to the growth of the global biopsy devices market.

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KEYPLAYERS

The notable players in the Global Biopsy Devices Market include Focal Therapeutics, Inc., C. R. Bard, Inc. Creganna, Scion Medical Technologies, LLC. (UK), BD, Integra LifeSciences Corporation, Hologic, Inc., Argon Medical Devices, Inc., Precision Biopsy, LLC, Cook Medical, and Leica Biosystems.

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Biopsy Devices Market Segmentation

The Global Biopsy Devices Market has been segmented based on product type, application, and end user.

By product type, the global biopsy devices market has been segmented into biopsy guns, biopsy guidance system, biopsy needles, forceps, and others.

By application, the global biopsy devices market has been segmented into bone marrow biopsy, surgical biopsy, skin biopsy, needle biopsy, Cancer Diagnosis, and others.

By end user, the global biopsy devices market has been segmented into hospitals, specialty clinics, diagnostic centers, academic & research institutes, and others.

Biopsy Devices Market Regional Analysis

By region, the global biopsy devices market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).

The Americas account for the most significant share of the global biopsy devices market. High prevalence of oncology diseases generate high demand for cancer screening and consequently drive the market for biopsy devices. High healthcare expenditure, the existence of key players in the region and extensive use of technologically advanced biopsy devices in the region support the growth of the market. North America is leading the Americas market and is anticipated to reach USD 2.4 Bn by the end of 2022.

Europe is the second largest market for biopsy devices. High healthcare expenditure and high expenditure on healthcare infrastructure boost the growth of the market.

APAC is on its path to emerge as the fastest growing market for biopsy devices. Surging prevalence of cancer, growing awareness which has led to increased demand for cancer screening, and expansion of healthcare budget in emerging economies are factors substantiating the growth of the APAC market. In addition, the governments in the region are endeavoring towards raising awareness and encouraging individuals to undertake cancer screening which is acting as a growth influencer.

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