Global demand for the breast biopsy devices market is set to display growth at a CAGR of about 5.5% from 2022 to 2032, with an estimated market valuation to be around USD 2.1 Billion as of 2022. As per Future Market Insights projections, the biopsy needle segment as a product holds a substantial share of about 23.4% of the global market in 2021.
Market Outlook:
| Data Points | Market Insights |
|---|---|
| Market Value 2021 | USD 2.0 Billion |
| Market Value 2022 | USD 2.1 Billion |
| Market Value 2032 | USD 3.6 Billion |
| CAGR 2022 to 2032 | 5.5% |
| Market Share of Top 5 Countries | 54.7% |
| Key Market Players | Argon Medical Devices, Becton Dickinson and Company., C.R. Bard, Inc. Cook Medical Inc., Devicor Medical Products, Inc., F. Hoffmann-La Roche Ltd., GE Healthcare, Hologic, Inc. Leica Biosystems, Max Srl Unipersonale, Planmed Oy, Scion Medical Technologies, LLC, and Siemens Healthier. |
Changes in one's way of life, such as behavior, nutritional preferences, and physical activity, might make breast cancer worse. Women who are overweight have higher blood insulin levels. Several cancers, particularly breast cancer, have been linked to elevated insulin levels.
Alcohol use, being overweight, using birth control, taking menopausal hormone therapy, and having breast implants are all lifestyle choices that can result in breast cancer. An increase in life expectancy is the reason that is anticipated to promote the expansion of the breast biopsy devices market.
Furthermore, a sophisticated biopsy strategy may enable radiologists and surgeons to perform breast procedures with greater accuracy, simplicity, and convenience. Large chances are being created for players to enter this industry and take over market space with new technology.
It will thus help the market to further grow, by improving the product offering in the market by the key players during the forecast period from 2022 to 2032.
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The global market for breast biopsy devices expanded at a CAGR of 3.6% over the span of 2012 to 2021.
The market value for breast biopsy devices market holds approximately 50% of the overall USD 4 Billion global breast cancer diagnostics market in 2021
The growing prevalence of breast cancer will drive the demand for breast biopsy devices shortly. The global burden of breast cancer is increasing owing to the growing population along with the changing lifestyle and excessive consumption of tobacco and alcohol. Breast cancer is a major public health issue in low- and middle-income countries. Besides, factors that also contribute to the existing disease burden are poor quality control, low mammography coverage, insufficient physical and human resources for clinical care, and limited access to diagnosis and treatment
The breast cancer-related mortality rate is high among women worldwide. Breast cancer is a major concern throughout the globe. Increased parity, premenopausal status, and shorter duration of breastfeeding are certainly associated with an increased risk of triple-negative breast cancer.
The risk of breast cancer is directly proportional to age. Considering the large geriatric female population, along with increasing awareness about breast cancer and the importance of early detection of the disease, demand for breast surgery retractors is expected to grow rapidly.
In order to study the asymptomatic population, which has an average cancer risk, particularly for breast cancer, appropriate screening techniques must be used. It is crucial that medical professionals, other healthcare workers, and the general public have a better grasp of the early warning signs and symptoms of cancer. The market will grow faster if healthcare policies in developing nations are improved.
Minimally invasive surgeries are gaining a lot of attention because they are not only clinically safer for the patients but also very cost-effective. They also help enable faster recovery.
These surgeries are less painful and since they involve endoscopic and robotic assistance, the precision of the results increases as well, which has a positive impact on the patient’s quality of life.
The rise in the acceptance of liquid biopsies for achieving early detection of cancer reflects the movement towards less invasive procedures.
Additionally, market participants for breast biopsy devices are concentrating on collaborating with hospitals and ambulatory surgical centers for direct sales and maintenance of the equipment as well as training staff to raise knowledge of cutting-edge technology.
An increase in the funding for cancer research has driven many cancer research institutes and has led to substantial improvements in patient survival rates and dramatic improvements in the quality of life for patients with cancer.
The market is expected to expand at a significant rate over the next ten years at a CAGR close to 5.5% and offers an absolute $ opportunity of USD 109.3 Million.
The above-mentioned factors are primarily insightful concerning the global sales growth of the breast biopsy devices market and are anticipated to persistently progress market growth over the forecasted period of 2022 to 2032.
Breast Biopsy Devices are becoming more used in the detection and mapping of breast cancer. However, only a few players that are actively engaged in the manufacturing of breast biopsy devices to date, implying that there are significant opportunities for other small and large manufacturers to enter the market, as demand for the devices is rapidly increasing.
Breast cancer is the most common cancer in emerging nations, and it is growing rapidly among women in metropolitan regions. The importance of early detection in the management and treatment of this condition cannot be overstated. As a result, breast cancer awareness activities are organized to raise awareness and eliminate the stigma associated with breast cancer symptoms and treatment.
This increasing incidence rate creates huge opportunities for market players in emerging regions.
A greater patient base with cancer and rising per capita income would also create profitable chances for market penetration and economic expansion across the globe.
Principal Consultant
The expensive expense of devices, as well as a scarcity of qualified specialists capable of carrying out important and advanced cancer detection processes, are constraints limiting demand for breast biopsy devices. Breast cancer surgeries, such as breast lumpectomy, biopsy, and other procedures, are expensive. The high cost of the equipment, the expense of associated high services, and equipment that are inaccessible to most patients in most countries are major market restraints.
Breast Biopsy Devices are the most advanced method for the detection and removal of cysts. This method requires expertise on the part of the staff and trainees. Many hospitals and healthcare centers lack such skilled professionals to use these devices during diagnosis or surgeries.
Thus, the lack of trained staff and other challenges are expected to hamper the adoption of these devices, which in turn is expected to restrain the market’s growth.
The USA led the North American region with a market share of about 88.6% in the year 2021 and is estimated to show higher growth in this sector, in comparison to Canada, throughout the forecast period. The American Cancer Society's estimate for breast cancer in the USA for 2022 is about 287,850 new cases of invasive breast cancer, which is projected to surge the demand for core needle biopsy devices.
The rise in the prevalence of breast cancer, raising awareness of breast cancer early detection, improving government expenditures on breast cancer research, and increasing usage of devices in cancer centers is the primary factor boosting the USA breast biopsy devices market growth in the region. Because of the total replacement of conventional open surgical biopsy techniques with less invasive alternatives, the USA has turned out to be the largest geographical market for breast biopsy devices.
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United Kingdom is set to exhibit a CAGR of nearly 5.6% in the European breast biopsy devices market during the forecast period. Since the population in the United Kingdom is more conscious of their own health, and cancer screening and diagnosis rates are both high in this country, the market for breast biopsy equipment is expected to expand at a quicker rate there. In addition, the huge population and adult population of the United Kingdom is more susceptible to getting breast cancer as a result of weakened immune systems and changing lifestyles.
Other than that, the market for breast biopsy devices is also getting driven in developed economies such as France, Germany, and Spain by these same factors, consequently surging the sales of breast biopsy devices in Europe. The region's fast-rising countries have invested in infrastructure development for research in the healthcare sector, propelling the breast biopsy devices market growth.
During the projected period, the North American industry is expected to lose considerable market share to the fast-expanding Asia-Pacific market. China is the fastest growing, with a CAGR of 6.4% in the East Asia market during the forecast period. However, in recent years Japan has also emerged to be a growing market for vacuum biopsy needles which is inferred to be a challenge to China’s dominance in the region.
The increased number of breast cancer patients in the country mirrors the country's growing dominance in the biopsy devices market in the Asia Pacific region. Furthermore, the emergence of Japan's breast biopsy devices market is linked to increased reimbursements for the most recent and sophisticated biopsy techniques by the national and regional governments.
The South Korean breast biopsy devices market is being driven by the rapid development of healthcare infrastructure, the increasing replacement of stereotactic X-ray biopsy systems with MRI-guided systems, and the growing number of breast cancer patients. Furthermore, the rapid growth of medical tourism in the region would provide breast biopsy device manufacturers with further market recognition potential.
Breast cancer's growing incidence rate has created critical commercial growth prospects for South Korean breast biopsy device market players. Furthermore, technical developments and breakthroughs in breast biopsy instruments are driving this market to expand in Asia Pacific countries, including South Korea. Unfortunately, the many negative side effects of the procedure, as well as the expensive price, may still restrict the regional market from expanding to its full potential.
The USA leads the North American region with a market share of about 88.6% in 2021 and is estimated to show high growth throughout the forecast period. The rise in the prevalence of breast cancer, raising awareness of breast cancer early detection, improving government expenditures on breast cancer research, and increasing usage of devices in cancer centers in the USA is the major factor boosting the market growth in the region.
The American Cancer Society's estimate for breast cancer in the USA for 2022 is about 287,850 new cases of invasive breast cancer will be diagnosed in women
United Kingdom is set to exhibit a CAGR of nearly 5.6% in the European breast biopsy devices market during the forecast period. Since the population in the United Kingdom is more conscious of their own health and cancer screening and diagnosis rates are both high in this country, the market for breast biopsy equipment is expected to expand at a quicker rate there.
In addition, the huge population and adult population of the United Kingdom is more susceptible to getting breast cancer as a result of weakened immune systems and changing lifestyles. The market for breast biopsy devices is driven by these factors.
China is the fastest growing with a CAGR of 6.4% in the East Asia market during the forecast period. The increased number of breast cancer patients in the country mirrors the country's dominance in the breast biopsy devices market.
Nearly 416 thousand new instances of breast cancer were estimated to have been discovered in Chinese women in 2020, according to statistics.
Biopsy needles segment projects lucrative growth holding a market share of around 23.4% in 2021, owing to its cost-effectiveness, and ease for surgeons and radiologists to use it while surgeries. To identify the origin of an abnormality, a thin, hollowed needle, and syringe are used to collect cells, fluids, or tissues from a suspected mass or another abnormal part of the body. These samples are then inspected under a microscope or evaluated in a lab. A needle biopsy can determine whether a lump or mass is a benign tumor, cyst, infection, or malignancy. The market for breast biopsy devices is being driven by these various considerations.
Complex cyst estimates a lucrative growth opportunity at a CAGR of 6.1% throughout the forecast period of 2022 to 2032 and shows a market share of around 37.2% in 2021. Complex breast cysts are defined as cysts with thick walls, thick septa, intracystic masses, or other discrete solid components. Breast cysts are extremely common and are present in most women over 40 years old. Breast ultrasound allows its detection and the correct diagnosis of cysts has been reported to be almost 100%. This makes the biopsy segment grow with great market space.
Hospitals as end users lead the breast biopsy devices market with about 34.2% market share in 2021. Hospitals have a huge amount of footfall for diagnosis and surgeries of breast cancer also companies are focusing on unique strategies of training surgeons and radiologists in hospitals for more patient reach this is gaining traction.
Key players are focused on the development and launch of novel detection devices for breast cancers. Established players within the industry are targeting specific female groups and going after strategic mergers and acquisitions to strengthen their position in the breast biopsy devices market.
Similarly, recent developments related to companies manufacturing breast biopsy device techniques have been tracked by the team at Future Market Insights, which are available in the full report.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2012 to 2021 |
| Market Analysis | USD Million for Value and Volume in Units |
| Key Regions Covered | North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, Germany, United Kingdom, France, Italy, Spain, Russia, BENELUX, Nordic countries, Russia, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Australia, New Zealand, GCC Countries, Turkey, and South Africa |
| Key Market Segments Covered | Product, Indication, End User, and Region |
| Key Companies Profiled | ARGON MEDICAL; Becton Dickinson and Company; C.R. Bard, Inc.; Cook Medical Inc.; Devicor Medical Products, Inc.; F. Hoffmann-La Roche Ltd.,; GE Healthcare; Hologic, Inc.; Leica Biosystems; Medax Srl Unipersonale; Planmed Oy,; Scion Medical Technologies, LLC; Siemens Healthier |
| Pricing | Available upon Request |
The global breast biopsy devices market is worth USD 2.0 Billion in 2021 and is set to expand by 1.7X over the next ten years.
The breast biopsy devices market is expected to reach USD 3.6 Billion by the end of 2032, with sales revenue expected to register at 5.5% CAGR.
Increasing incidence of breast cancer, growing life expectancy rate, and an increase in the funding for cancer research are some of the key factors driving the demand in the marketplace.
North America holds 32.0% of the global breast biopsy devices market in 2021 with the USA being the leading contributor in the North American region with a market value of about USD 568.9 Million in 2021.
The breast biopsy devices market in India is likely to grow at a CAGR of 7.4% during the forecast period, with a market share of around 45.6% in 2021 in the South Asian market for breast biopsy devices.
Acquisitions and collaborations by key players, emerging technologies to enhance the market reach, and a shift from invasive to minimally-invasive surgical procedures are some of the key trends being witnessed in this marketplace.
Japan’s market in breast biopsy devices is offering lucrative growth opportunities and is expected to exhibit healthy growth of 5.8% CAGR during the forecast period.
The U.S., Japan, the United Kingdom, Germany, and China are expected to drive demand for breast biopsy devices.
From 2012 to 2021, the market for breast biopsy devices expanded at a CAGR of 3.6%.
Argon Medical Devices, Becton Dickinson and Company. C.R. Bard, Inc. Cook Medical Inc., Devicor Medical Products, Inc., F. Hoffmann-La Roche Ltd., GE Healthcare, Hologic, Inc. Leica Biosystems, Medax Srl Unipersonale, Planmed Oy, Scion Medical Technologies, LLC, and Siemens Healthineer, are the key exporter of the breast biopsy devices market.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Market Background 6. Global Market Demand (in Volume Units) Analysis 2012 to 2021 and Forecast, 2022 to 2032 7. Global Market - Pricing Analysis 8. Global Market Demand (in Value US$ Million) Analysis 2012 to 2021 and Forecast, 2022 to 2032 9. Global Market Analysis 2012 to 2021 and Forecast 2022 to 2032, by Product 9.1. Biopsy Needle 9.1.1. Core Needles 9.1.2. Fine Aspiration Needles 9.2. MRI-Guide Biopsy Systems 9.3. Ultrasound Guided Breast Biopsy Systems 9.3.1. Two-Dimensional (2-D) Mammographic Ultrasonic Scanning Systems 9.3.2. Three-Dimensional (3-D) B-Mode Mammographic Ultrasonic Scanning Systems 9.4. Vacuum-Assisted Device (VAD) 9.5. Guide Wire (Localization Wire) 9.6. Breast Biopsy Marker 10. Global Market Analysis 2012 to 2021 and Forecast 2022 to 2032, by Indication 10.1. Complex Cyst 10.2. Solid Mass 10.3. Suspicious Solid Mass 10.4. Suspicious Micro Calcifications 10.5. Suspicious Architectural Distortion 11. Global Market Analysis 2012 to 2021 and Forecast 2022 to 2032, By End User 11.1. Hospitals 11.2. Specialty Clinics 11.3. Ambulatory Surgical Centers 11.4. Cancer Research Institutes 12. Global Market Analysis 2012 to 2021 and Forecast 2022 to 2032, by Region 12.1. North America 12.2. Latin America 12.3. Europe 12.4. South Asia 12.5. East Asia 12.6. Oceania 12.7. Middle East & Africa (MEA) 13. North America Market Analysis 2012 to 2021 and Forecast 2022 to 2032 14. Latin America Market Analysis 2012 to 2021 and Forecast 2022 to 2032 15. Europe Market Analysis 2012 to 2021 and Forecast 2022 to 2032 16. South Asia Market Analysis 2012 to 2021 and Forecast 2022 to 2032 17. East Asia Market Analysis 2012 to 2021 and Forecast 2022 to 2032 18. Oceania Market Analysis 2012 to 2021 and Forecast 2022 to 2032 19. Middle East & Africa Market Analysis 2012 to 2021 and Forecast 2022 to 2032 20. Competition Analysis 20.1. Argon Medical Devices 20.2. Becton Dickinson and Company 20.3. C. R. Bard, Inc. 20.4. Cook Medical Inc. 20.5. Devicor Medical Products, Inc. 20.6. F. Hoffmann-La Roche Ltd. 20.7. GE Healthcare 20.8. Hologic, Inc. 20.9. Leica Biosystems 20.10. Medax Srl Unipersonale 20.11. Planmed Oy 20.12. Scion Medical Technologies, LLC 20.13. Siemens Healthineers 21. Assumptions and Acronyms Used 22. Research Methodology
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Breast Biopsy Devices Market
