Global Biopsy Devices Market to Witness Growth at More Than 5% CAGR From 2012 to 2020: Million Insights

FELTON, California, September 5, 2017 /PRNewswire/ --

The global biopsy devices market size was valued at USD 1,511.3 million in 2013 which is anticipated to grow at a CAGR of more than 5.0% during the forecast period. Growing incidence of cancer and rising demand pertaining to patient's unmet need for accurate diagnosis is expected to drive the market forward in the coming years.

Rising income levels and growing modern healthcare infrastructure has increased the life expectancy considerably. This has led to increment in the number of geriatric population and reduction in immunity which makes them prone to infection. Aforementioned factors are anticipated to propel progress in this market.

Rising cancer incidence is anticipated to drive the demand for this technology thus leading to substantial growth over the forecast period. As per American Cancer Society, by the end of 2030, the global cancer burden is estimated to reach 21.7 million with respect to number of cases and reach 13 million cancer deaths.

Advantages associated with the use of these procedures include less invasiveness and fast recovery as compared to the conventional approaches. Use of a needle-based biopsy enables tumor screening with minimal invasion approach. Application of this method prior to the initiation of complex surgeries is anticipated affect industrial growth.

Browse 79 page research report with TOC on "Biopsy Devices Market Size & Forecast Report 2012 - 2020" at: https://www.millioninsights.com/industry-reports/biopsy-devices-market

Some key products include needle based gun, forceps, guidance system and needle. Among these products, guidance system contributed for the highest share of over 42% of total revenue owing to the price and usage of the robotic guidance system which is comparatively high.

Factors that have led to increase in the revenue share of the guidance system are high demand for less invasive and high accuracy system, growing tumour prevalence rate and increase in demand for the user-friendly products and products based on innovative technology.

North American biopsy market dominated with nearly 60% share in 2016. With the presence of government support and favorable policies coupled with high awareness among the healthcare providers and patients this region is anticipated to maintain its dominance in the coming years.

Contributing companies towards developing the biopsy devices include DTR Medical Hologic, Inc., INRAD, Inc., Devicor Medical Products Inc. and Angiotech. These companies are engaged in producing breakthrough technologies in order to gain significant share in the sector.

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Market Segmentation: 

Biopsy Devices Product Outlook 

- 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 Regional Outlook 

  • North America

  • Europe

  • Asia Pacific

  • RoW

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SOURCE Million Insights