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How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theBiopsy Devices Market?

The biopsy devices market has seen growth due to an increasing number of cancer cases. A biopsy, which is the main method used for diagnosing abnormalities when cancer cell presence is suspected, has become a critical tool in the fight against cancer. For example, in January 2023, the US-based American Cancer Society made a prediction that about 1.9 million new diagnoses of cancer are expected to occur in the United States in 2022, resulting in a predicted 609,360 cancer-related fatalities. Colorectal cancer specifically, is projected to have around 151,030 new cases by the conclusion of 2022, leading to an estimated 52,550 deaths in 2023. Moreover, in a May 2022 report by the Canadian Medical Association Journal, a peer-reviewed general medical journal based in Canada, projections suggest that nearly 233,900 new cancer cases will be identified in Canada in 2022. Of these, about 28,600 are poised to be breast cancer, making up roughly 25% of all new cancer diagnoses in women for that year. Lung cancer is predicted to be the most common cancer type in Canada in 2022, with an estimated new occurrence of 30,000 cases.

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How Has the Biopsy Devices Market Evolved in Recent Years, and What are the Growth Projections for the Forecast Period?

Over the previous years, the biopsy devices market has witnessed impressive growth. Predictions show that it will rise from $3.03 billion in 2024 to $3.26 billion in 2025, following a compound annual growth rate (CAGR) of 7.7%. The remarkable growth during the historic period is credited to the expansion of emerging markets, enhancements in healthcare infrastructure, and an increase in the aging population.

The market size for biopsy devices is forecasted to experience a surge in the coming years, ballooning to $4.64 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 9.2%. This projected rise during the forecast period can be traced back to increased government funding in the health sector, a spike in the incidence of cancer, and a rise in health-related spending. Key trends that will shape this future scenario include the introduction of new technologies, the debut of fully automated biopsy systems, product enhancements, the progression of robotic-assisted biopsy systems, affiliations and partnerships, and enhanced financial backing.

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What Are the Current Market Growth and Trends in theBiopsy Devices Market That Industry Players Should Watch?

The biopsy devices market is being influenced by the advent of robot-assisted biopsy systems that help avert post-biopsy issues. Robot-assisted biopsies are performed to enhance the accuracy and precision of the procedure, and medical bodies have been approving these devices to simplify the process. For example, in July 2022, Siemens Healthineers’ and Intuitive’s platforms received clearance from the FDA for the creation of a robotic-assisted platform designed for minimally invasive lung biopsies. This advancement permits the use of 2D and 3D imaging throughout operations.

What Are the Major Market Players Making an Impact on theBiopsy Devices Market Growth?

Major companies operating in the biopsy devices market include Becton Dickinson and Company (BD), Hologic, Inc., Danaher Corporation, Boston Scientific Corporation, Olympus Corporation, Cook Medical, Medtronic Inc, Cardinal Health, Argon Medical Devices Inc., Fujifilm Holdings Corp, BMA Co. Ltd., Transmed (China) Co., LTD, HaploX Biotechnology, Gene+sLab, Lepu Medical Technology, CMR Naviscan Corporation, DDD Diagnostics, Philips Healthcare, Siemens Healthineers, Abbott Laboratories, Bangs Laboratories Inc, Roche Diagnostics, Cepheid, Devicor Medical Products, Braile Biomedica Ltd, B.Braun Medical Gulf, Stryker ESCS BV

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How Are the Key Segments of the Biopsy Devices Market Driving Opportunities and Innovations?

The biopsy devices market covered in this report is segmented –

1) By Product Type: Needle-Based Biopsy Guns, Biopsy Forceps, Biopsy Guidance Systems, Biopsy Needles, Other Products

2) By Image Guiding Technology: MRI-Guided Biopsy, Stereotactic-Guided Biopsy, Ultrasound-Guided Biopsy, Other Imaging Technologies

3) By Application: Breast Biopsy, Gynecological Biopsy, Prostate Biopsy, Blood Cancers Biopsy, Skin Biopsy, Kidney Biopsy, Gastroenterology Biopsy, Other Applications

4) By End User: Diagnostics And Imaging Centers, Hospitals, Other End User

Subsegments:

1) By Needle-Based Biopsy Guns: Spring-Loaded Biopsy Guns, Vacuum-Assisted Biopsy Guns

2) By Biopsy Forceps: Endoscopic Biopsy Forceps, Surgical Biopsy Forceps

3) By Biopsy Guidance Systems: Ultrasound-Guided Biopsy Systems, CT-Guided Biopsy Systems, MRI-Guided Biopsy Systems

4) By Biopsy Needles: Core Needles, Fine Needle Aspiration (FNA) Needles, Coaxial Needles

5) By Other Products: Biopsy Sutures, Biopsy Markers, Biopsy Storage Solutions

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What Regions Are At the Forefront of #How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theBiopsy Devices Market?# Market Expansion?

North America was the largest region in the biopsy devices market in 2024. Asia-Pacific was the second largest region in the global biopsy devices market report share. The regions covered in the biopsy devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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