Selbyville, Delaware, July 7, 2021 (GLOBE NEWSWIRE) –
According to the latest report âBiopsy Devices Market by Product (Biopsy Guidance Systems, Needle Biopsy Guns, Biopsy Needles, Biopsy Forceps, Others), End Use (Hospitals, Outpatient Surgery Centers), Regional Outlook, Price Trends, competitive market share and 2027 forecast â, by Global Market Insights Inc., on market valuation of biopsy devices will exceed $ 3.4 billion by 2027. Technological advancements in biopsy procedures will drive the growth of the global market.
The increasing prevalence of skin conditions and cancer is driving the demand for biopsy procedures around the world. some of the common samples that have been biopsied include skin cancer, psoriasis, and infections, among others. Biopsy procedures help patients and doctors diagnose precancerous tumors, confirm or rule out cancer. According to the Skin Cancer Foundation, more than 9,500 Americans are diagnosed with skin cancer per day. Therefore, the increasing incidence of the fatal disease coupled with the substantial efficiency of biopsy in diagnosis will drive the demand for biopsy procedures and devices in the years to come.
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Technological advancements in biopsy techniques will drive the adoption rate of the biopsy devices market in the future. Innovations in biopsy devices have improved workflow and client preferences. For example, the introduction of ultrasound guided biopsy offers a minimally invasive option to the operator and reduces the time of the procedure. Additionally, the emergence of robot-assisted biopsy has supported procedures and diagnostics with greater precision.
The biopsy needle segment accounted for $ 260 million in 2020. Needle biopsy is a commonly equipped procedure for collecting specimens for the diagnosis of various skin disorders, including cancer. The procedure is performed on an outpatient basis and is less invasive in nature. In addition, the availability of a range of needle-based procedures will increase demand in the years to come.
The hospital segment dominated over 67% of the biopsy devices market share in 2020. The high number of patient visits to hospitals due to the increasing prevalence of the disease, the presence of qualified expertise and infrastructure will fuel segment revenues. In addition, the availability of reimbursement policies for the range of biopsy devices will aid in the expansion of the market during the forecast period. For example, in 2021, Cook Medical provided reimbursement codes for several biopsy procedures at outpatient surgical centers, hospital outpatient facilities, and doctors’ offices.
The Asia-Pacific biopsy devices market is expected to grow over 13% by 2027 due to the increasing ubiquity of breast cancer in the region. For example, the incidence rate of breast cancer in West Asia is 46.6 per 100,000 and 43.3 per 100,000 in East Asia, according to statistics from GLOBOCAN. In addition, liver cancer has seen a significant increase in recent years. Additionally, the increasing acceptance and awareness of guided biopsy will further accelerate regional growth over the forecast period.
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The major players operating in the market are CR Bard Inc., CareFusion Corporation, Hologic, Inc. and Devicor Medical products (Leica BioSystems), Inc., among others. Leading companies are undertaking strategies to increase their product portfolio through product launches and acquisitions.
Table of contents (ToC) of the report:
Chapter 3 Biopsy Devices Market Overview
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Pitfalls and challenges of the industry
3.4 Regulatory landscape
3.5 Analysis of growth potential
3.5.1 By product
3.5.2 By End Use
3.6 Porter’s analysis
3.7 Competitive landscape, 2020
3.8 PESTEL analysis
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