According to Vision Research Reports, the global biopsy guidance system market size is expected to be worth around US$ 1,883.5 Million by 2030 and is predicted to grow at a CAGR of 5.9% during forecast period 2021 to 2030.
According to Vision Research Reports, the global biopsy guidance system market size is expected to be worth around US$ 1,883.5 Million by 2030 and is predicted to grow at a CAGR of 5.9% during forecast period 2021 to 2030.
Growth Factors
The increasing prevalence of cancer, rise in the geriatric population, growing demand for non-invasive procedures, technological innovations, a rising number of government initiatives, and impact of COVID-19 are the key driving factors for the market.
A biopsy is one of the most prominent procedures for diagnosing cancer amongst other chronic diseases, and it is commonly employed in the diagnosis of breast, brain, skin, and prostate cancer. The increasing prevalence of cancer is a major factor responsible for market growth. For instance, according to Cancer.org, in 2021, around 1.9 million new cancer cases are expected to be diagnosed in the US. Since the biopsy guidance system is one of the major requirements for the initial diagnosis of cancer, thus, rising number of cancer cases is anticipated to propel market growth over the forecast period
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Furthermore, there is a rising preference for minimally invasive biopsy treatments in the market. During the forecast period, several types of technologies and products including robot-assisted biopsy guidance systems, needle-based biopsy guns, and vacuum-assisted core biopsy systems, are expected to expand rapidly. For instance, in March 2021, IZI Medical Products, LLC launched Quick-Core Auto Biopsy System for soft tissue biopsy. It is a lightweight, completely automatic biopsy device and provides reliability, quality, and accuracy. Additionally, rising awareness of breast cancer treatment and diagnosis will further boost market growth over the forecast period.
Report Highlights
The stereotactic guided biopsy segment held the largest revenue share of 39.7% in 2020 and is expected to witness a considerable growth rate over the forecast period. The stereotactic guided biopsy is advantageous as it is less invasive, provides rapid recovery time, and causes minimal scarring. Another advantage of this guidance technique in estimating tiny masses that are not visible in ultrasound. Moreover, it is an economical procedure as compared to open surgical biopsies. Thereby, the aforementioned advantages lead to a surge in demand for stereotactic guided biopsies. Moreover, the introduction of automated core-biopsy guns has accelerated the preference for this technique. Several healthcare centers have prolonged the potential use of stereotactic guided biopsy to nearly all complicated mammographic lesions.
The ultrasound-guided biopsy segment is anticipated to witness the fastest growth rate over the forecast period. It is the most effective imaging tool for guiding percutaneous biopsies and fine-needle aspirations. It is a safe and precise way for guiding needles into abdominal and pelvic organs and masses utilizing real-time imaging. It has several benefits over computed tomography-guided biopsies, including portability, cost, and the absence of ionizing radiation. Biopsies of lesions as tiny as 1 cm can be conducted if the operation is safe and the mass can be seen sonographically. Thus, owing to the above-mentioned benefits, ultrasound-guided breast biopsy gaining popularity amongst patients.
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The brain biopsy segment dominated the market and held the largest revenue share of 42.8% in 2020 and is anticipated to witness a considerable growth rate over the forecast period. The increased incidence of brain cancer is the key major factor driving the demand for brain biopsies. For instance, according to the National Brain Tumor Society, a projected 700,000 people in the US are living with a primary brain tumor, and nearly 85,000 more will be diagnosed in 2021. Moreover, the increasing geriatric population is also driving the growth of the brain biopsy segment. The average age at diagnosis for a primary brain tumor is 60 years. An estimated 69,950 adults age 40+ are expected to be diagnosed with a primary brain tumor in 2021 in the US. In addition, developments in biopsy guidance systems such as open Magnetic Resonance Image (MRI) guided robotic systems for brain biopsy, will add to segment growth.
The breast biopsy segment is anticipated to witness the fastest growth rate over the forecast period. The rising prevalence of breast cancer among women after menopause, and technological advancement are the key factor fueling the segment growth. For instance, according to Breastcancer.org. around 281,550 new cases of invasive breast cancer and 49,290 new cases of non-invasive breast cancer were reported in 2020 in the U.S. Also, as per the WHO, in 2020, around 2.3 million women were diagnosed with breast cancer, and around 685 000 deaths were reported globally. Thus, the high prevalence of breast cancer and growing demand for advanced minimally invasive therapies are leading to segment growth.
The hospitals segment dominated the market and held the largest revenue share of 36.1% in 2020 and is expected to witness a significant growth rate over the forecast period. The segment’s dominance can be attributed to the increase in the use of biopsy guidance systems in hospitals across the globe. Patients are increasingly opting for minimally invasive surgical procedures to avoid traditional surgical complexities and side effects, boosting sales of biopsy guidance systems and propelling segment growth. Moreover, the increasing number of populations suffering from cancer is the key factor boosting the hospital segment growth. For instance, according to the American Cancer Society, around 60,530 new cases of leukemia and 23,100 deaths from leukemia were reported in the U.S. in 2020. Furthermore, the growing geriatric population, which is among the vast patient pool admitted to hospitals for early cancer diagnosis, might fuel the segment growth.
The specialty clinics segment is expected to witness the fastest growth over the forecast period. The rise in popularity of out-of-hospital, single-specialty healthcare centers in recent years has provided the considerable potential for both new and established healthcare enterprises. Growing consumer awareness concerning the accessibility of diagnostic and screening procedures for chronic diseases in such clinics is propelling the demand for technologies such as stereotactic-guided biopsies. Furthermore, the capacity of specialty clinics to provide a tailored solution for a specific purpose, combined with specialized infrastructure, is fueling the segment’s growth.
North America dominated the biopsy guidance systems market and accounted for the largest revenue share of 45.4% in 2020 and is expected to witness a considerable growth rate of 5.3% over the forecast period. North America accounted for the majority share due to continuous expansion in cancer diagnostic companies and the growing demand for innovative treatments. Government agencies, non-profit healthcare organizations, pharmaceutical, and biotech companies, and research institutes are investing substantially in medical and health-related research and development, which is also anticipated to fuel market growth.
In Asia Pacific, the market is anticipated to exhibit lucrative growth during the forecast period. Traditional biopsy techniques, such as core-needle biopsies and surgical biopsies, still dominate the cancer diagnostic market in Asian countries. A significant increase in the incidence of cancer is a key factor responsible for regional market growth. For instance, as per the American Cancer Society, Inc., in 2018, around 8.2 million cases of cancer and 5.2 million deaths were reported in Southern, Eastern, and South-Eastern Asia, conforming to about half of the cancer burden globally. A recent report published by National Cancer Registry Programme (NCRP) estimated that the number of cancer cases in India is projected to surge from 13.9 lakh in 2020 to 15.7 lakh by 2025. As a result of the rising number of cancer cases and advancements in biopsy guidance systems, the market is anticipated to expand over the forecast period.
Key Players
- Becton, Dickinson, and Company
- Hologic, Inc.
- Devicor Medical Products, Inc.
- B. Braun Melsungen AG
- ARGON MEDICAL
- Boston Scientific Corporation
- INRAD Inc.
- Cook Medical
- PLANMED OY
Market Segmentation
- Product Outlook
- Stereotactic Guided Biopsy
- Ultrasound Guided Biopsy
- MRI Guided Biopsy
- Application Outlook
- Brain Biopsy
- Breast Biopsy
- Other Applications
- End-use Outlook
- Hospitals
- Specialty Clinics
- Diagnostic Centers
- Research and Academic Institutes
- Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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