According to research report the biopsy devices market is expected to reach USD 2.42 billion by 2022 from USD 1.74 billion in 2017, at a CAGR of 6.8% from 2017 to 2022.
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Factors
such as rising prevalence of cancer, increasing preference for
minimally invasive surgeries, and initiatives undertaken by governments
& global health organizations are the major factors driving the
growth of this market.
The Report analyzes and studies the major
market drivers, restraints, and opportunities in North America, Europe,
Asia-Pacific, Latin America, and the Middle East & Africa.
North America dominated the market in 2016
North
America accounted for the largest share of the biopsy devices market in
2016, followed by Europe. The rising prevalence of cancer, government
initiatives to spread awareness about cancer, favorable reimbursement
scenario for biopsy devices in the U.S., and the presence of key players
in the region are the key factors driving the growth of the biopsy
equipment market in North America.
The hospitals segment held the highest CAGR during the forecast period
Based
on end user, the hospitals segment is expected to register the highest
growth rate during the forecast period. The strong financial
capabilities of hospitals and the presence of trained professionals are
the major factors supporting the rising adoption of biopsy devices among
hospitals.
By product, the needle-based biopsy instruments segment accounted for the largest share of the market
On
the basis of product, the needle-based biopsy instruments segment
accounted for the largest share of the global biopsy devices market in
2016. This can be attributed to the preference of needle-based biopsies
over open surgical biopsies and increasing preference for minimally
invasive surgeries.
The lung biopsy segment is expected to highest growth during the forecast period
Based
on application, the lung biopsy segment accounted for the largest share
of the biopsy devices market. The growing prevalence of lung cancer
will drive market growth. Additionally, the availability of funding for
lung cancer research is contributing to the growth of this market
segment.
The ultrasound-guided biopsy segment dominated the biopsy equipment market in 2016
Based
on guidance technique, the ultrasound-guided biopsy segment accounted
for the largest share of the biopsy devices market. This quick and
simple procedure offers advantages, such as no ionizing radiation
exposure, low complication rate, and lower cost as compared to other
biopsy techniques.
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The major players in the biopsy devices market
are C. R. Bard, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Cook
Group Incorporated (U.S.), Devicor Medical Products, Inc., (Leica
Biosystems) (Germany), Argon Medical Devices (U.S.), B. Braun Melsungen
AG (Germany), Cardinal Health, Inc. (U.S.), Olympus Corporation (Japan),
Boston Scientific Corporation (U.S.), FUJIFILM Holdings Corporation
(Japan), INRAD, Inc. (U.S.), and Medtronic plc (Ireland).
