There are different kind of biopsies performed for different conditions and usually sharp tools are required to remove small amount of tissues. Listed below are some of the common types of biopsies:
The global biopsy devices market is estimated to account for US$ 2,400.4 Mn in terms of value by the end of 2020.
Global Biopsy Devices Market: Drivers
Increasing adoption of biopsy is expected to propel growth of the global biopsy devices market over the forecast period. For instance, in April 2020. CDx Diagnostics, Inc. announced that the company is contracted with Blue Cross Blue Shield (BCBS) of Massachusetts for WATS3D Biopsy (Wide Area Transepithelial Sampling with 3D Tissue Analysis)
Global Biopsy Devices Market: Opportunities
Automation in biopsy is expected to offer lucrative growth opportunities for players in the global biopsy devices market. For instance, in June 2019, Hamilton Company collaborated with Enable Biosciences to provide fully automated processing of up to 96 liquid biopsy samples at one time using a novel ultra-sensitive and highly specific immunoassay in a hands-free workflow.
Global Biopsy Devices Market: Restraints
High pricing of technologically advanced biopsy devices is expected to hinder growth of the global biopsy devices market. Innovation and product development come with high cost of R&D, which translates into higher selling prices of these products. This has reduced the affordability of such devices, for example, vacuum-assisted biopsy devices and robotic guidance systems.
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. Increasing product approvals during the forecasted period is expected to assist the market growth.
Biopsy Guidance Systems segment held dominant position in the global biopsy devices market in 2019, accounting for 43.0% share in terms of value, increasing prevalence of cancer in developed and developing economies is anticipated to assisted the segment growth over the forecast period.
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 July 2019, FUJIFILM Medical Systems U.S.A. launched Tomosynthesis Biopsy option for the ASPIRE Cristalle mammography system
Major players in the market are also focused on adopting partnership strategies in order to enhance their market share. For instance, in January 2020, Saga Diagnostics signed agreements with Laboratoires Servier to perform liquid biopsy testing on cancer patients enrolled in clinical studies.
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 R&D to expand their product portfolio. For instance, in January 2020, GRAIL, Inc. presented new data from its trial, CCGA, for liquid biopsy at the American Society of Clinical Oncology (ASCO) Gastrointestinal Cancers Symposium, which failed to show marked improvement in sensitivity compared with data presented at the symposium in 2019.
Major players in the market are also focused on adopting partnership and collaboration strategies in order to enhance their market share. For instance, in February 2020, Foundation Medicine, Inc. and Chugai Pharmaceutical, Ltd. collaborated with National Cancer Center (NCC) for the use of FoundationOneLiquid, Foundation Medicine’s laboratory-developed liquid biopsy test, in the third stage of SCRUM-Japan, a cancer genomic screening consortium in Japan.
Scope of the report