Biopsy can be described as a type of procedure that would remove a tissue or cell sample from a patient’s body for better diagnosis. The process is mostly done to identify cancerous cells and tissues so that the treatment process gets easier. The global market for biopsy devices can benefit significantly in the coming years as predicted by Market Research Future (MRFR). The biopsy devices market is expected to reach USD 2.4 billion by the end of the forecast period and is expected to grow at a CAGR of ~6.4%.
The global biopsy devices market has the potential to grow impressively as the market is witnessing hike in investment for the healthcare sector and research development industry, which can trigger the launch of new products and facilitate better diagnosis. Growth in the number of hospitals and other diagnostic centers is also expected to make sure that the market gets scope for expansion. There are other factors that can be considered as market influencers. For instance, the global market can benefit from better awareness level, impressive reimbursement policies, increasing infrastructural developments in the healthcare sector, and others can also take the market substantially ahead.
The segmental analysis for the market report on the biopsy devices can be segmented by end user, application, and product type. The global market for biopsy devices is expected to gain from such an analysis as its factorial details are going to reveal insights that can boost the market in the coming years.
By product type, the market for biopsy device can be segmented by biopsy guns, biopsy guidance system, forceps, biopsy needles, and others.
By application, the market report on the biopsy device comprises bone marrow biopsy, needle biopsy, surgical biopsy, cancer diagnosis, skin biopsy, and others. The cancer diagnosis segment has better intake for the biopsy device.
By end users, the biopsy devices market report can be segmented on the basis of diagnostic centers, hospitals, academic research institutes, specialty clinics, and others. The hospitals segment has chances for high growth in the coming years.
The North American region is showing high intake for the biopsy devices that is expected to create a wider expanse for the market to grow. The regional market is expected to profit from the better infrastructural support, high investment potential, increasing innovation, involvement of the research development sector, and easy integration of latest developments are significant market traction providers. The regional market can grow and touch a valuation of around USD 2.4 billion in the coming years.
The European region can score significantly and occupy the second position in the global market. The regional market has the potential to grow with similar features that it shares with North America. This growth can be attributed to the contribution made by various sectors like research and development, healthcare, and others. The Asia Pacific region is showing signs of growth with countries like India, Australia, Japan, China, and others are showing signs of growth in the coming years.
Several companies are showing significant interest in taking their position in the market for biopsy devices to a level higher with crucial changes in their strategic changes. These companies are expected to make changes with tie-ups, mergers, acquisitions, and others. These companies are Cook Medical, Hologic, Inc., BD, Scion Medical Technologies, LLC. (UK), Precision Biopsy, LLC, Leica Biosystems, C. R. Bard, Inc. Argon Medical Devices, Inc., Creganna, Focal Therapeutics, Inc., Integra LifeSciences Corporation, and others. MRFR profiled these companies and loaded the report with their recent changes to get an idea regarding how the market is planning to move forward.
In November 2019, researchers from the Georgia Tech have developed a 3D printed biopsy device that can filter out red and white blood cells and leaves only the cancerous cells for identification.