Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Biopsy is a medical procedure involving extraction of sample cells/tissues from a tumor for examination and diagnosis of malignancy. The procedure is performed in two ways- needle-based minimally invasive procedures and open surgical procedures.

Statistics:

The global biopsy devices market is estimated to account for US$ 3,786.8 Mn in terms of value by the end of 2027.

Global Biopsy Devices Market: Drivers

Increasing incidence of cancer is expected to propel growth of the global biopsy devices market over the forecast period. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.

Moreover, increasing geriatric population is also expected to aid in growth of the global biopsy devices market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.     

Statistics:

North America held dominant position in the global biopsy devices market in 2019, accounting for 38.8% share in terms of value, followed by Europe and Asia Pacific, respectively.

Figure 1: Global Biopsy Devices Market Share (%) Value, By Region, 2019

Biopsy Devices  | Coherent Market Insights

Global Biopsy Devices Market: Restraints

Issues with medical reimbursements are expected to hinder growth of the global biopsy devices market. Insurance companies do not allow reimbursements for every biopsy procedure. For instance, in European countries, core needle biopsies are not covered for reimbursements as medical insurance companies believe that these are only investigative techniques and not surgical techniques. Moreover, reimbursements are available for core needle biopsies only if they are recommended by surgeons as medically unavoidable.

Moreover, introduction of taxes such as the Medical Device Excise Tax (MDET) of 2.3% in the U.S. is also expected to limit the market growth.

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Biopsy Devices Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 2,250.1 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 6.7% 2027 Value Projection: US$ 3,786.8 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., France, Spain, Italy, Russia, Rest of Europe
  • Asia Pacific: China, Japan, India, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, Rest of Middle East
  • Africa: North Africa, Central Africa, South Africa
Segments covered:
  • By Product Type: Needle-based Biopsy Guns, Biopsy Needles, Biopsy Forceps, Biopsy Guidance Systems, Others
Companies covered:

Angiotech, Cardinal Health Inc., CareFusion Corporation, BD, Devicor Medical Products, Inc., DTR Medical, Hologic, Inc., INRAD, Inc., UK Biopsy, Medtronic plc, IZI Medical Products, FUJIFILM Medical Systems U.S.A., Saga Diagnostics, Zomedica Pharmaceuticals Corp., QIAGEN N.V, GRAIL, Inc., and Foundation Medicine, Inc.

Growth Drivers:
  • Increasing prevalence of cancer
  • Approval and launch of new products
Restraints & Challenges:
  • Lack of reimbursement

Global Biopsy Devices Market: Opportunities  

R&D in wireless biopsy is expected to offer lucrative growth opportunities for players in the global biopsy devices market. For instance, in January 2020, researchers from Chonnam National University, South Korea, reported development of a novel wireless biopsy capsule endoscopes employing active five degree-of-freedom locomotion and a biopsy needle punching mechanism for the histological analysis of the intestinal tract.

Moreover, adoption of AI in biopsy is also expected to aid in growth of the market. For instance, in October 2018, Freenome, an AI genomics company based in the U.S., is focused on developing blood tests to detect the body’s early-warning signs of cancer, using AI. In October 2018, the company presented early data in R&D for using machine learning to detect colorectal cancer at its earliest stages.

Statistics:

The global biopsy devices market was valued at US$ 2,250.1 Mn in 2019 and is forecast to reach a value of US$ 3,786.8 Mn by 2027 at a CAGR of 6.7% between 2020 and 2027.

Figure 2: Global Biopsy Devices Market Value (US$ Mn), 2016 – 2027

Biopsy Devices  | Coherent Market Insights

Market Trends/Key Takeaways

Major players in the global biopsy devices market are focused on approval and launch of new devices in order to expand their product portfolio. For instance, in December 2019, Medtronic plc received the U.S. Food and Drug Administration clearance for its Stealth Autoguide system, for biopsy procedures, stereoelectroencephalography (sEEG) depth electrode placement, and for the positioning of the Visualase bone anchor, which is used for catheter placement.

Major players in the market are also focused on adopting M&A strategies in order to expand their product portfolio. For instance, in January 2019, IZI Medical Products acquired a set of biopsy and breast localization needles from Cook Medical for an undisclosed amount.

Global Biopsy Devices Market: Competitive Landscape

Major players operating in the global biopsy devices market include, Angiotech, Cardinal Health Inc., CareFusion Corporation, BD, Devicor Medical Products, Inc., DTR Medical, Hologic, Inc., INRAD, Inc., UK Biopsy, Medtronic plc, IZI Medical Products, FUJIFILM Medical Systems U.S.A., Saga Diagnostics, Zomedica Pharmaceuticals Corp., QIAGEN N.V, GRAIL, Inc., and Foundation Medicine, Inc.

Global Biopsy Devices Market: Key Developments

Major players in the global biopsy devices market are focused on approval and launch of new devices in order to expand their product portfolio. For instance, in January 2020, Zomedica Pharmaceuticals Corp., a veterinary diagnostic and pharmaceutical company, announced completing the development and manufacturing of its reference lab cancer liquid biopsy platform for canine cancers.

Major players in the market are focused on approval and launch of new devices in order to expand their product portfolio. For instance, in February 2020, QIAGEN N.V launched its FFPE and liquid biopsy PIK3CA diagnostics in Europe as an aid in identifying breast cancer patients with a phosphatidyl 3-kinase catalytic subunit alpha (PIK3CA) mutation

A biopsy is a sample of tissue taken from the body for in-depth analysis of the sample to reach an effective diagnosis of a condition, wherein conventional diagnostic methods such as x-rays and body scans do not provide any conclusive evidence. The procedure is performed in two ways- needle-based minimally invasive procedures and open surgical procedures performed for examination and diagnosis of malignancy. Increasing incidence of cancer, increasing product approvals, increasing awareness of cancer in developing economies along with adoption of expansion strategies from leading players to further strengthen their market positioning is expected to assist the market growth during the forecasted period.

Key features of the study:

  • This report provides in-depth analysis of the Global Biopsy Devices market  and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2020–2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategy adopted by key players
  • It profiles key players in the Global Biopsy Devices market  based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include, Angiotech, Cardinal Health Inc., CareFusion Corporation, BD, Devicor Medical Products, Inc., DTR Medical, Hologic, Inc., INRAD, Inc., UK Biopsy, Medtronic plc, IZI Medical Products, FUJIFILM Medical Systems U.S.A., Saga Diagnostics, Zomedica Pharmaceuticals Corp., QIAGEN N.V, GRAIL, Inc., and Foundation Medicine, Inc.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The Global Biopsy Devices market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Global Biopsy Devices market

Detailed Segmentation:

  • Global Biopsy Devices Market, By Product Type:
    • Needle-based Biopsy Guns
    • Biopsy Needles
    • Biopsy Forceps
    • Biopsy Guidance Systems
    • Others
  • Global Biopsy Devices Market, By Region:
    • North America
      • By Product Type:
        • Needle-based Biopsy Guns
        • Biopsy Needles
        • Biopsy Forceps
        • Biopsy Guidance Systems
        • Others
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Product Type:
        • Needle-based Biopsy Guns
        • Biopsy Needles
        • Biopsy Forceps
        • Biopsy Guidance Systems
        • Others
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Product Type:
        • Needle-based Biopsy Guns
        • Biopsy Needles
        • Biopsy Forceps
        • Biopsy Guidance Systems
        • Others
      • By Country
        • U.K.
        • Germany
        • France
        • Spain
        • Italy
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Product Type:
        • Needle-based Biopsy Guns
        • Biopsy Needles
        • Biopsy Forceps
        • Biopsy Guidance Systems
        • Others
      • By Country
        • China
        • Japan
        • India
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Product Type:
        • Needle-based Biopsy Guns
        • Biopsy Needles
        • Biopsy Forceps
        • Biopsy Guidance Systems
        • Others
      • By Country
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • By Product Type:
        • Needle-based Biopsy Guns
        • Biopsy Needles
        • Biopsy Forceps
        • Biopsy Guidance Systems
        • Others
      • By Country
        • North Africa
        • Central Africa
        • South Africa
  • Company Profiles
    • Angiotech *
      • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Overview
      • Strategies
    • Cardinal Health Inc.
    • CareFusion Corporation
    • BD
    • Devicor Medical Products, Inc.
    • DTR Medical
    • Hologic, Inc.
    • INRAD, Inc.
    • UK Biopsy
    • Medtronic plc.
    • IZI Medical Products
    • FUJIFILM Medical Systems U.S.A.
    • Saga Diagnostics
    • Zomedica Pharmaceuticals Corp.
    • QIAGEN N.V
    • GRAIL, Inc.
    • Foundation Medicine, Inc.
  •  “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Region
      • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Highlights
    • Product launch
    • PEST Analysis
    • Technological Advancements
    • Regulatory Scenario
    • Mergers and Acquisitions
  4. Global Biopsy Devices Market, By Product Type, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Needle-based Biopsy Guns
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Biopsy Needles
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Biopsy Forceps
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Biopsy Guidance Systems
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  5. Global Biopsy Devices Market, By Region, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, By Region, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2026
    • North America
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • U.S.
        • Canada
    • Latin America
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Germany
        • U.K.
        • France
        • Spain
        • Italy
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • China
        • Japan
        • India
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • North Africa
        • Central Africa
        • South Africa
  6. Competitive Landscape
    • Company Profiles
      • Angiotech
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Cardinal Health Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • CareFusion Corporation
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • BD
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Devicor Medical Products, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • DTR Medical
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Hologic, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • INRAD, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • UK Biopsy
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Medtronic plc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • IZI Medical Products
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • FUJIFILM Medical Systems U.S.A.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Saga Diagnostics
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Zomedica Pharmaceuticals Corp.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • QIAGEN N.V
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • GRAIL, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Foundation Medicine, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
  7. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 22 market data tables and 14 figures on “Biopsy Devices Market - Global forecast to 2027”.

Frequently Asked Questions

The Global Biopsy Devices market size was valued at US$ 8,435.2 million in 2019 and is estimated to exhibit a CAGR of 6.4% between 2020 and 2027.
Biopsy Guidance Systems segment held the major market share in 2019 owing to an technological advancement in product design and increasing product approvals is expected to propel growth of the market.
Major factor driving the growth of Global Biopsy Devices market during the forecast period increasing prevalence of cancer, increasing research & development , and adoption of expansion strategies from major companies.
Major factors hampering the growth of the Global Biopsy Devices market during the forecast period constitutes of lack of reimbursement.
North America market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are Angiotech, Cardinal Health Inc., CareFusion Corporation, BD, Devicor Medical Products, Inc., DTR Medical, Hologic, Inc., INRAD, Inc., UK Biopsy, Medtronic plc, IZI Medical Products, FUJIFILM Medical Systems U.S.A., Saga Diagnostics, Zomedica Pharmaceuticals Corp., QIAGEN N.V, GRAIL, Inc., and Foundation Medicine, Inc.
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