The global Smart Biopsy Devices market size is expected to be worth around US$ 5.72billion by 2028, according to a new report by Vision Research Reports.
The global Smart Biopsy Devices market size is expected to be worth around US$ 5.72billion by 2028, according to a new report by Vision Research Reports.
The global Smart Biopsy Devices market size was valued at US$ 3.40 billion in 2020 and is anticipated to grow at a CAGR of 6.6% during forecast period 2021 to 2028.
Growth Factors
Rising demand for minimally invasive biopsy procedure coupled with technological advancements in smart biopsy device is anticipated to boost the growth.
Minimally Invasive Breast Biopsy Technique (MIBT) allows diagnosis of breast cancer without taking patient to surgery, preserves normal breast tissue, and decreases the number of operations required for cancer treatment. In addition, technological advancements in MIBT, such as needle-based biopsy guns to obtain cells, core needles biopsy to obtain sample tissue, specialized biopsy device that utilize vacuum and cutting device to remove sample tissues. Thus, minimally invasive procedures such as MIBT are recommended more as compared to conventional biopsy methods due to minimal risk factor. This is projected to drive the market for smart biopsy devices in near future.
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Siemens Healthineers mammography system enables healthcare providers to improve their biopsy workflow as it uses 3D HD biopsy to obtain effective biopsies at a lower dose. It also offers automated breast density measurement with titanium enhanced mammography exams. Such technological advancements have improved biopsy procedure workflow by reducing morbidity. They have also increased patient satisfaction which is expected to bode well for the growth of the market.
Report Highlights
The breast cancer segment dominated the market because it is the most common cancer diagnosed among women aged 45 years and above. This cancer develops in breast cells which typically forms either in lobules (glands that produce milk) or ducts (pathways which bring milk from glands to nipples). Breast cancer had several symptoms such as breast pain, pitted skin over the entire breast, blood discharge from nipples, inverted nipples, and swelling in the underarm area. In low- and middle-income countries, due to lack of awareness among women, breast cancer is the most common. Thus, increasing awareness among women, in addition to growing availability and affordability of diagnostic procedures, is expected to drive the demand for smart biopsy devices in the breast cancer segment.
The skin cancer segment is expected to expand at the fastest CAGR in the forthcoming years owing to the increasing number of patients suffering from malignant skin tumors. Skin tumor is an abnormal growth of cells in the epidermis (outermost skin layer) caused due to unrepaired DNA damage leading to mutations. These mutations lead the skin cells to multiply rapidly and develop a malignant tumor. There are two main causes of skin cancer High exposure to UV radiation and the use of UV tanning machines can cause multiple mutations in the skin cells. In the U.S., skin cancer or melanoma of the skin is the most commonly diagnosed disease. The U.S. FDA had approved the MELAFIND device for the treatment of skin cancer, which is used as a tool for biopsy. Growing awareness regarding skin cancer coupled with rising availability and affordability of diagnostic procedures is expected to drive the segment growth soon.
North America dominated the market for smart biopsy devices in 2018, owing to the increasing prevalence of cancer, raising awareness about cancer screening programs, the presence of well-established healthcare facilities, and the availability of early diagnostic procedures in the region. Cancer is the major cause of morbidity in North America. Thus, a growing number of technologically advanced minimally invasive biopsy procedures are expected to fuel the regional demand for a smart biopsy device.
Asia Pacific is expected to register the fastest CAGR over the forecast period, due to increasing government initiatives, healthcare spending, awareness campaigns regarding cancer, and availability of technologically enhanced smart biopsy devices. The Indian government had announced two major initiatives in the healthcare sector, namely, Ayushman Bharat program and National Health Protection Scheme. Also, the National Breast Cancer Awareness Month (NBCAM) organized by major breast cancer charities in the U.S., helps create awareness regarding the causes and prevention of breast cancer. All these factors are projected to fuel the regional demand for smart biopsy devices.
Key Players
Becton, Dickinson, and Company (BD); C. R. Bard, Inc.; B. Braun Melsungen AG; Cook Medical; INRAD Inc.; and PLANMED OY.
Market Segmentation
- Application Outlook
- Breast Cancer
- Skin Cancer
- Liver Cancer
- Prostate Cancer
- Others
- Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa (MEA)
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