Newly-released Biopsy Guidance System Market analysis report by Future Market Insights shows that global sales of the Biopsy Guidance System Market in 2021 were held at USD 1.1 Billion. With a CAGR of 5.8% from 2022 to 2032, the market is projected to reach a valuation of USD 2 Billion by 2032. The market for Stereotactic Guided Biopsy is expected to be the highest revenue-generating segment expected to grow at a CAGR of 6.1% from 2022 to 2032.
| Attribute | Details |
|---|---|
| Global Biopsy Guidance System Market (2022) | USD 458 Million |
| Global Biopsy Guidance System Market (2032) | USD 2 Billion |
| Global Biopsy Guidance System Market CAGR (2022 to 2032) | 5.8% |
| USA Biopsy Guidance System Market (2022) | USD 444 Million |
| Key Companies Profiled | Becton, Dickinson, and Company; Hologic, Inc.; Devicor Medical Products, Inc.; B. Braun Melsungen AG; ARGON MEDICAL; Boston Scientific Corporation; INRAD Inc.; Cook Medical; PLANMED OY |
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As per the Biopsy Guidance System Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Biopsy Guidance System Market increased at around 5.1% CAGR.
The rising prevalence of cancer, the rise in the geriatric population, the rising demand for non-invasive procedures, technological innovations, and government initiatives, are the key drivers for the market. A biopsy is one of the most common procedures for diagnosing cancer and other chronic diseases, and it is used to diagnose breast, brain, skin, and prostate cancers.
The rising incidence of cancer is one of the major drivers of market expansion. Because the biopsy guidance system is one of the most important requirements for the initial diagnosis of cancer, the market is expected to grow at a rapid pace over the forecast period.
As a result of the substantial increase in the incidence of cancer, more advanced technology, safer, and more effective biopsies are being developed, which is driving the biopsy market. Non-invasive procedures are becoming more popular, which is fueling market growth in that area.
Patients owing to the high costs and painful side effects that come with this treatment, resulting in undiagnosed or inadequate diseases later in life, often avoid invasive biopsies. These symptoms consequently increase mortality rates and lead to greater expenses and difficulties in treatment.
The demand for non-invasive procedures is skyrocketing owing to the boost in demand for biopsy guidance systems, resulting in a surge in the need for biopsy guidance systems. Patients recover faster and are less traumatized as a result of these procedures. Owing to these factors, Biopsy Guidance System Market is projected to grow at a CAGR of 5.8 % over the coming 10 years.
When the tumor is located deep within the body, image-guided biopsies are used. Biopsy guidance systems are both cost-effective and simple to operate. They can provide superb real-time details that cause the procedure to be less uncomfortable and more efficient for the patient. Furthermore, these guided biopsies can enable to rapid inspect numerous lesions in the axillary and sub-areolar areas.
The segment is growing due to the rising demand for robotic biopsies due to their less invasive nature. A rising number of product launches, combined with quick FDA approval, are also contributing to the segment's growth.
Increased awareness of biopsy guidance systems, increased healthcare infrastructure development, impressive reimbursement policies, increased investment in healthcare research and development, and an upsurge in the number of hospitals and diagnostic centers are expected to drive demand for biopsy guidance systems during the forecast period.
Principal Consultant
North America accounts for the largest market share during the forecast period. Because of factors such as improved infrastructure, rising patient awareness, and the presence of key players in the region also the presence of a large number of academic institutes, enhanced healthcare infrastructure, and Research and Development institutes are all contributing to the market's growth. In addition, the USA has a large number of market participants.
On the other hand, the market in the Asia Pacific is expected to grow at the fastest pace with an absolute dollar opportunity of USD 880 Million during the forecast period. The presence of leading manufacturers in countries such as Japan, as well as a growing number of local producers in countries like China and India, are driving the regional market forward.
Over the projected period, the market is expected to be fuelled by an increasing number of healthcare institutions, the rising need for diagnostic centers, and expanding Research and Development projects. The market is expected to grow over the forecast period, owing to an increase in the number of cancer cases and advancements in biopsy guidance systems.
The USA is expected to account for the largest market of USD 771.4 Million by the end of 2032. This is attributable to a significant increase in research & development activities. Furthermore, advances in the healthcare industry have resulted in the development of new technologies and equipment, which is further expected to boost the market in the USA. Furthermore, the presence of well-known corporations, as well as early access to new and developing technologies, is projected to aid the market in the USA in maintaining its global market supremacy in the next years.
The market in China is expected to grow at a CAGR of 7.1% during the forecast period, approaching a market revenue of USD 230.9 Million by 2032. In Asian countries, traditional biopsy techniques such as core-needle biopsies and surgical biopsies continue to dominate the cancer diagnostic market. A significant increase in cancer incidence is a major driver of regional market expansion.
The market in the UK is projected to reach a valuation of USD 89 Million by 2032, growing at a CAGR of 6.5% from 2022 to 2032. During this period, the market is projected to garner an absolute dollar opportunity of USD 41 Million.
In Japan, the market is expected to reach USD 78 Million by 2032. Growing at a CAGR of 7.1% from 2022 to 2032, the market in the country is expected to gross an absolute dollar opportunity of around USD 39 Million.
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During the forecast period, the stereotactically guided biopsy segment is anticipated to experience rapid expansion. New product launches, originating with new and improved product efficacy, and the introduction of technological advances using 2D-3D image guidance, will help propel the segment forward.
The combination of increased awareness and the introduction of innovative medical technologies has led to an increased demand for stereotactic-guided biopsies. In addition, the introduction of automated core biopsy guns has boosted the popularity of this method. Several medical facilities have broadened the use of stereotactic-guided biopsy to all challenging mammographic lesions.
Over the forecast period, the ultrasound-guided biopsy segment is expected to increase at the fastest rate. It is the safest and most effective imaging technique for targeting fine-needle aspirations and percutaneous biopsies. Using real-time imaging, it is a secure and controllable method for targeting needles for abdominal and pelvic tissues and masses.
It has several advantages in comparison to CT-guided biopsies, such as portability, cost, and the lack of ionizing radiation. In a safe fashion, the procedure can be carried out on a variety of lesions that are as small as 1 cm. Therefore, an ultrasound-guided biopsy is becoming increasingly popular among patients.
With many local firms vying against multinational competitors, the market is significantly fragmented. To stay competitive in the industry, major businesses are focusing more on research and development of new products.
The prominent players in the Biopsy Guidance System Market are Becton, Dickinson, and Company, Hologic, Inc., Devicor Medical Products, Inc., B. Braun Melsungen AG, and ARGON MEDICAL. Major market players use a variety of methods to preserve their dominance, including high Research and Development activity, global expansion strategies, broad product offers, and frequent introduction of advanced versions of existing items.
Some of the recent developments of key Biopsy Guidance System providers are as follows:
Similarly, the team at Future Market Insights, which is available in the full report, has tracked recent developments related to companies offering Biopsy Guidance Systems.
The global Biopsy Guidance System Market is worth more than USD 1.1 Billion at present.
The value of the Biopsy Guidance System Market is projected to increase at a CAGR of around 5.8% from 2022 to 2032.
The value of Biopsy Guidance System Market increased at a CAGR of around 5.1% from 2017 to 2021.
The rising prevalence of cancer, the rise in the geriatric population, the growing demand for non-invasive procedures, and technological innovations are all driving the growth of the biopsy guidance system market.
The market for Biopsy Guidance System Market in China is projected to expand at a CAGR of around 7.1% from 2022 to 2032.
While the market in South Korea is expected to grow at nearly 6.7%, the market in Japan is projected to register a CAGR of nearly 7.1% from 2022 to 2032.
1. Executive Summary | Biopsy Guidance System Market 2. Market Overview 3. Market Risks and Trends Assessment 4. Market Background 5. Key Success Factors 6. Global Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032 7. Global Market Value Analysis 2017 to 2021 and Forecast, 2022 to 2032 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Type 8.1. Stereotactic Guided Biopsy 8.2. Ultrasound Guided Biopsy 8.3. MRI Guided Biopsy 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application 9.1. Brain Biopsy 9.2. Breast Biopsy 9.3. Other Applications 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End-User 10.1. Hospitals 10.2. Specialty Clinics 10.3. Diagnostic Centers 10.4. Research and Academic Institutes 11. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. Asia Pacific 11.5. Middle East and Africa (MEA) 12. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 13. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 14. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032 15. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032 16. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032 17. Key Countries Market Analysis 2017 to 2021 and Forecast 2022 to 2032 18. Market Structure Analysis 19. Competition Analysis 19.1. Becton 19.2. Dickinson and Company 19.3. Hologic Inc 19.4. Devicor Medical Products, Inc. 19.5. B. Braun Melsungen AG 19.6. ARGON MEDICAL 20. Assumptions and Acronyms Used 21. Research Methodology
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Biopsy Guidance System Market
