Biopsy Devices Market Growth and Challenges Till 2027

Market Overview

The rising call for for accurate diagnosis which is complemented by the surge in the number of ailments is advancing the demand for biopsy devices positively. Reports that gauge the medical device industry have been made available by Market Research Future, which creates reports on several industry verticals that review the market growth and prospects. The market is anticipated to develop at CAGR of 6.4% approximately while amassing incomes worth USD 2.4 Billion in the period of the forecast.

The intensified detection rate of cancer cases is raising the reliance on Biopsy Devices Market Growth to get an accurate analysis within a shorter period. Moreover, the increasing demand for high-quality diagnostics is expected to encourage the development of the biopsy device market in the forecast period.

Segmental Analysis

The segmental analysis of the biopsy devices market has been conductedon the basis of product type, application, end user, and region.Based on the product type, the biopsy device market is segmented intobiopsy guidance system, biopsy guns, biopsy needles, forceps, and others. The segmentation of the biopsy device market based on application comprises of surgical biopsy, needle biopsy, skin biopsy, cancer diagnosis, bone marrow biopsy, and others. Based on the end users, the biopsy devices market is segmented into hospitals, diagnostic centers, specialty clinics, academic & research institutes, and others. The region-based segmentation of the biopsy device market comprises of the Middle East, North America, Africa, Asia Pacific,and Europe.

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Competitive Analysis

A significant ascent in the number of promoters in the market is estimated to craft a beneficial state of affairs for the development of the market in the projected period. The market is expected to exhibit an increased growth momentum due to the presence of positive market growth indicators. The synchronization achieved in terms of the micro and macro growth factors is projected to strengthen the market’s expansion further.The amplified demand levels prevailing in the market are expected to induce a sustainable business environment fostering constructive progress.The favorable alignment of the consumer buying patterns is expected to increase the rate of advancement of the market. The positive shift in regulations in the market is anticipated to create a conducive environment for progress in the coming years. The incidence of favorable market prospects is anticipated to further create profitable growth outcomes in the market.

The central players in the biopsy device market are BD, Scion Medical Technologies, LLC. (UK), Cook Medical, Hologic, Inc., Leica Biosystems, Precision Biopsy, LLC, Argon Medical Devices, Inc., C. R. Bard, Inc. Integra LifeSciences Corporation,Creganna, Focal Therapeutics, Inc., and others.

Detailed Regional Analysis     

The region-based review of the biopsy device market is carried out on the basis of regions such as the Middle East, North America, Africa, Asia Pacific, and Europe. The North American region is the chief market for biopsy devices. The North American regional market for biopsy devices is projected to achieve USD 2.4 billion by the end of the forecast period. Also, the European region is the secondlargest market for biopsy devices. The Asia Pacific region is projected to be the fastest rising region in biopsy devices market during the forecast period.

Industry Updates:

Mar 2019: Dune Medical Devices has  recently revealed the end of the first in-man cases for its percutaneous soft tissue biopsy device which employs the real-time tissue characterization ability of its radio-frequency (RF) spectroscopy technology. The company indicatedthat the new product wouldincrease its surgical oncology portfolio to comprise soft tissue biopsy system with its primary indication in breast tissue. By using miniaturized sensors placed on a core needle, the biopsy device statesto have produced electrical parameters of the sampled tissue, in real time.

Feb 2019: A device built by a Cambridge researcher to make prostate biopsies safer has commenced clinical trials. The CamProbewas created as a prototype to enable safer prostate biopsies in 2016initially.A major government grant has permitted further growth of the device into a low-cost disposable device that can be used in any hospital outpatient clinic.The trial for the CamProbe is now in progress using funding from the National Institute for Health Research.

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