Global Biopsy Devices Market: By Product (Needle Based Biopsy Guns, Biopsy Guidance Systems, Biopsy Needles, Biopsy Forceps and others), End-Use (Hospitals, Clinics) By Channel (Direct Sales, Distributors) and Geography, and by Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)—Forecast till 2028

Description

Market Overview: The global biopsy devices market platform market size was valued at USD 2.73 billion in 2022 and is projected to expand at a CAGR of 8.5% from 2023 to 2028. The growth of the market is primarily accredited to the constant advancements in technology, increasing prevalence of cancer, growing elderly populace, and rising awareness about early diagnosis, which are some of the major aspects that are leading to the growth of the biopsy devices market.

Market Size for Global Biopsy Devices Market on the Basis of Revenues in USD Bn, 2018-2023

Source: Maven Market Research

What Factors are Leading to the Growth of the Global Biopsy Devices Market?

• The expansion of the healthcare infrastructure across the globe is facilitating the adoption of advanced medical technologies, including biopsy devices, it is observed that numerous governments and private entities are investing heavily in healthcare infrastructure, which is expected to enhance the growth of the market.
• Regular innovations such as liquid biopsy, image-guided biopsy, and vacuum-assisted biopsy have improved the accuracy and efficiency of cancer diagnosis. These innovations are readily speeding the growth of the market.
• Furthermore, the rising awareness about the importance of early cancer detection and screening programs is another key growth factor. The regular organizations are actively promoting cancer screening initiatives, which is leading to a higher number of biopsy procedures, which are propelling the growth of the market.

Which Industry Trends have been Fueling the Growth of the Biopsy Devices Market?

Performance By Key Players:  Several key players are continuously innovating, and the development of new biopsy devices is crucial for market players. By acquiring smaller companies with innovative technologies, major players can strengthen their market position. These aspects are driving the growth of the biopsy devices market.

Increasing Prevalence of Cancer:  The increasing incidence of cancer globally is a significant factor propelling the biopsy device market. Additionally, the growing need for early and accurate diagnosis to improve treatment outcomes is predicted to boost the demand for biopsy devices market in the upcoming years.

Growing Elderly Populace: The increasing elderly populace is more susceptible to various types of cancer, necessitating frequent diagnostic procedures. The rising geriatric population, particularly in developed countries, is creating a substantial demand for biopsy devices. This factor is predicted to integrate the growth of the biopsy devices market in the forthcoming years.

What is the Current Structure of the Global Biopsy Devices Market?

By Product Type

In 2023, needle-based biopsy guns accounted for over 45% of the market share. During the forecast period, the market is expected to rise due to the increasing need for these guns to obtain samples from soft tissues of internal organs such the kidneys, breasts, and lungs. The growing demand for quick and delicate cell sample collection for biopsies is one of the main drivers supporting the segment’s expansion.

Furthermore, the market is expanding favourablybecause of the rising demand for vacuum-assisted devices. With a spring-loaded mechanism for minimally invasive insertion to collect samples for laboratory testing, these devices include manual, semi-automated, and automatic.

By End-User Type, Healthcare Segment has Dominated the Largest Market Share in the Global Biopsy Devices Market

The existence of specialized departments, skilled healthcare professionals, and advanced medical facilities makes hospitals the preferred choice for biopsy procedures. Moreover, hospitals also often participate in clinical trials and research, further propelling the demand for biopsy devices.

By Channel Type, Distributors and Retailers Segment Channel Dominated the Largest Market Revenue in the Global Market

With the growing trend of digitalization, online sales channels are gaining traction in the biopsy devices market. E-commerce platforms offer a convenient and efficient way for healthcare providers to purchase biopsy devices.  These variables are expected to drive the growth of the market.

By Region Type, North American Region Leads the Market

The global biopsy devices market is mainly attributed to the significant growth, driven by technological advancements, increasing cancer prevalence, and rising awareness about early diagnosis. North America and Europe currently dominate the market, but the Asia-Pacific region is expected to witness the highest growth rate. The demand for advanced biopsy devices is likely to surge, making this market a vital component of the healthcare industry.

The region’s dominance can be attributed to well-established healthcare infrastructure, high awareness levels, and significant government funding for cancer research. Moreover, countries like Germany, France, and the UK are leading the region due to strong healthcare systems and high cancer incidence rates.  These variables are expected to witness the growth of the country.Owing to well-established market players residing in the area, it will maintain a sizable market share for the duration of the forecast period. The regional market is anticipated to benefit from high market penetration rates of technologically sophisticated equipment like vacuum-assisted biopsy systems and quickly increasing disposable device demand.

Competitive Analysis

Major market companies are making significant investments in R&D to create technologically sophisticated items that will aid in their continued dominance of the industry. Devicor Medical Products, Inc., for example, announced the introduction of the MammotomeDualCore Dual Stage Core Biopsy System in August 2022. Some of the major players operating in the market includes Cardinal Health Inc.; Hologic, Inc.; Danaher Corporation; CONMED Corporation; Cook Medical; DTR Medical; INRAD, Inc.; Devicor Medical Products Inc.; Gallini Srl; TransMed7, LLC

Market Segmentation

Global Biopsy Devices Market, By Product Type

• Needle Based Biopsy Guns
• Biopsy Guidance Systems
• Biopsy Needles
• Biopsy Forceps

Global Biopsy Devices Market, By End User Type

Direct Sales

• Hospitals
• Diagnostic Centers

Distributors

• Medical Device Distributors
• Online Sales Channels

Global Biopsy Devices Market, By Channel Type

• Hospitals
• Diagnostic Centers
• Academic and Research Institutes
• Specialty Clinics

Global Biopsy Devices Market, By Region Type

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France

Asia-Pacific

• China
• India
• Japan
• South Korea
• Australia

Latin America

• Brazil
• Mexico
• Argentina

Middle East & Africa

• South Africa
• UAE

Key Players

• Hologic, Inc.
• Becton, Dickinson, and Company
• Danaher Corporation
• Cook Medical
• Cardinal Health
• Braun Melsungen AG
• Argon Medical Devices, Inc.
• Devicor Medical Products, Inc. (Leica Biosystems)
• Fujifilm Holdings Corporation