Upsurge In Demand for Minimally Invasive Biopsy Procedures to Drive Needle Biopsy Market Growth
A needle is inserted into the body of the patients during the biopsy procedures to extract the cell samples for laboratory testing. The healthcare professionals advise biopsy testing when they find any abnormal tissues in the body of the patients. The biopsy testing permits the physicians to have a wider outlook at the abnormal cells in order to diagnose the associated disorder. A needle biopsy facilitates the employment of a thin needle through the skin to extract tissue from the tumor site, thereby eliminating the requirements of post-surgery procedures. Biopsy needles are utilized to extract the tissue samples from different parts of the body including bone marrow, lungs, colorectal, kidney, breast, and others.
The constant development of new diagnostic imaging procedures will steer the growth of the global needle biopsy market vigorously. The growing cases of cancer all across the globe are providing ample thrust to the demand for biopsy needles globally. In addition, there is a significant surge in the demand for minimally invasive biopsy procedures that facilitate less discomfort to patients. The needle biopsy is done to recognize various symptoms like the presence of infection, inflammation, lump, or mass. The surge in the production of goods along with the decline in the costs of raw materials and associated components is likely to significantly boost the growth of the market globally. There is significant growth in the funding to boost the research and development activities to launch advanced products in the market.
The needle biopsy market is set for a rapid growth over the forecast period. In terms of revenue, the global needle biopsy market accounted for USD 614.40 Million in 2019 and is expected to reach USD 892.40 Million by 2026, growing at a CAGR of 5.48%.
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The global needle biopsy market can be segmented into site, product, and region.
By site, the market can be segmented into bone marrow, lungs, colorectal, kidney, breast, and others.
By product, the market can be segmented into core needles and vacuum-assisted biopsy needles.
North America accounts for the largest share in the global needle biopsy market due to the ongoing technological innovations in the region. Moreover, the presence of robust healthcare infrastructure in the region will significantly escalate the growth of the regional market.
Europe is likely to be the fastest-growing region in the global needle biopsy market due to the growing disposable income of the people along with the surging demands for high-end healthcare facilities in the region.
Some of the significant players in the global needle biopsy market are Medtronic plc, Stryker Corporation, CONMED Corporation, Argon Medical, INRAD, Inc., Argon Medical and Olympus Corporation, Merit Medical Systems, Inc., Dickinson and Company, and Becton. To cite, Hologic, Inc. in August 2017 introduced the Brevera breast biopsy system that possesses advanced features with CorLumina imaging technology in the US.
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