Biopsy Devices Market to be Worth $3.64 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Dec. 19, 2022 /PRNewswire/ -- The global biopsy devices market size is projected to reach USD 3.64 billion by 2030, expanding at a CAGR of 7.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. Introduction of technologically advanced products, leading to increasing adoption of minimally invasive surgical procedures, is the key factor driving the market.

Key Industry Insights & Findings from the report:

• Needle-based biopsy guns held the largest market share in 2022 owing to surging demand for these devices to acquire samples from soft tissues
• New product launches of vacuum-assisted biopsy devices are further expected to accelerate the demand for needle-based biopsy guns over the forecast period
• The biopsy needles segment is expected to register a significant CAGR over the forecast period. It represents lucrative growth opportunities owing to the increasing adoption of these products and the launch of advanced products
• North America dominated the market in 2022 due to the high penetration rate of technologically advanced products and the presence of key market players in the region
• The rising incidence of cancer coupled with high unmet patient needs is expected to propel the growth of the market extensively in the Asia Pacific region

Read 120-page full market research report, "Biopsy Devices Market Size, Share & Trends Analysis Report By Product (Needle-based Biopsy Guns, Biopsy Guidance Systems, Biopsy Forceps, Biopsy Needles), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Biopsy Devices Market Growth & Trends

In addition, growing investments in the oncology field by government and non-government organizations are expected to positively impact market growth. For instance, in 2022, the American Institute for Cancer Research funded more than $110 million for research to ensure a future without cancer. Moreover, the organization supports the establishment of an Advanced Research Projects Agency for Health (ARPA-H) that is focused on accelerating cancer and biomedical research translation.

The COVID-19 pandemic led to a significant drop in biopsy procedures, especially in the first half of the pandemic. This represented a temporary negative impact on the sales of biopsy devices. The major factor responsible for this moderate downfall in sales was reduced patient visits to healthcare institutes as a precautionary measure to avoid being infected with the virus.

With economies returning to normalcy and the healthcare sector going back to majorly focusing on cancer research, the market recovered at a rapid pace. The biopsy market is further expected to witness significant growth over the forecast period due to constant advancements in the field of oncology and diagnostics.

Biopsy Devices Market Segmentation

Grand View Research has segmented the global biopsy devices market based on product and region:

Biopsy Devices Market - Product Outlook (Revenue, USD Million, 2018 - 2030)

• Needle-based Biopsy Guns
• Vacuum-assisted Biopsy (VAB) Devices
• Fine Needle Aspiration Biopsy (FNAB) Devices
• Core Needle Biopsy (CNB) devices

• Biopsy Guidance Systems
• Manual
• Robotic

• Biopsy Needles
• Disposable
• Reusable

• Biopsy Forceps
• General Biopsy Forceps
• Hot Biopsy Forceps

• Others
• Brushes
• Curettes
• Punches

Biopsy Devices Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Canada

• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Denmark
• Sweden
• Norway

• Asia Pacific
• Japan
• India
• China
• South Korea
• Thailand
• Australia

• Latin America
• Brazil
• Mexico
• Argentina

• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Kuwait

List of Key Players in the Biopsy Devices Market

• Cardinal Health Inc.
• Hologic, Inc.
• Danaher Corporation
• CONMED Corporation
• Cook Medical
• DTR Medical
• INRAD, Inc.
• Devicor Medical Products Inc.
• Gallini Srl
• TransMed7, LLC

Check out more related studies published by Grand View Research:

• Biopsy Guidance System Market - The global biopsy guidance system market size is expected to reach USD 1,383.5 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.2% from 2021 to 2028. 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.
• Fusion Biopsy Market - The global fusion biopsy market size is estimated to reach USD 1.11 billion by 2028 registering a CAGR of 11.6%, according to a new report by Grand View Research, Inc. The increasing prevalence of prostate cancer, growing demand for targeted biopsy, and the rising utilization rate of multiparametric MRI in prostate cancer care are factors expected to drive the market during the forecast period.
• Robotic Biopsy Devices Market - The global robotic biopsy devices market size is expected to reach USD 703.7 million by 2026, according to a new report by Grand View Research, Inc., registering a 11.3% CAGR over the forecast period. Rising cancer incidence and increasing demand for minimally invasive surgeries are leading factors contributing toward this growth.

Browse through Grand View Research's Medical Devices Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc