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How has the biopsy devices market size evolved in recent years?
In the past few years, there has been a robust expansion in the market size of biopsy devices. It is projected to climb from $3.03 billion in 2024 to $3.26 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.7%. This progression over the historic period is due to the growth of new markets, advancements in healthcare infrastructure, and an increase in the aging populace.
What are the predictions for the biopsy devices market size in the coming years?
Expectations are high for the biopsy devices market, as it is set to experience robust growth over the next several years. By 2029, it is projected to expand to a value of $4.64 billion, with a compound annual growth rate (CAGR) of 9.2%. This anticipated growth during the forecast period can be ascribed to factors such as increased government funding in healthcare, growing incidences of cancer, and enhanced healthcare spending that will fuel the market expansion. The forecast period will also see major trends like technological breakthroughs, the introduction of fully automated biopsy systems, innovations in products, the evolution of robot-assisted biopsy technologies, increased partnerships and collaborations, along with augmented investments.
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What key factors are fueling the growth of the biopsy devices market?
The increase in cancer incidences has been a significant factor in the expansion of the biopsy devices market. Biopsies are commonly used by medical professionals as an initial step for detecting potential cancer cells or other irregularities in the body. For example, the American Cancer Society, a US-based organization dedicated to the eradication of cancer, specified in January 2023 that roughly 1.9 million fresh diagnoses of cancer are expected in the United States for the year 2022, leading to an estimated 609,360 cancer-related fatalities. In specific, approximately 151,030 new colorectal cancer cases are projected to be detected by the end of 2022, resulting in an estimated 52,550 deaths in the following year. Additionally, in May 2022, the Canadian Medical Association Journal, a peer-reviewed general medical publication by the Canadian Medical Association, reported that an estimated 233,900 new cancer cases are expected to be diagnosed in Canada in 2022. Of these cases, nearly 28,600 are expected to be breast cancer, making up about 25% of all newly diagnosed cancer cases in women for the year. The cancer type anticipated to be most common in Canada in 2022 is lung cancer, projected at around 30,000 new cases.
How is the global biopsy devices market divided into key segments?
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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Who are the key firms paving the way for growth in the biopsy devices market?
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
Which trends are expected to transform the biopsy devices market?
Robot-assisted biopsy systems have become a pivotal component in the biopsy devices market, contributing significantly to reducing post-biopsy complications. These systems are primarily used to enhance the accuracy and precision of the biopsy procedure, and healthcare regulators have endorsed these devices to simplify the process. For instance, in July 2022, Siemens Healthineers’ and Intuitive’s platforms received clearance from the FDA for their robotic-assisted platform, designed specifically for minimally invasive lung biopsies. This innovative integration would facilitate both 2D and 3D imaging during the procedure.
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What regions are contributing significantly to the growth of the biopsy devices market?
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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