Global Biopsy Devices Market, By Product Type (Procedure Tray, Needle Based Biopsy Instruments, Liquid Biopsy Instruments, Biopsy Table, Biopsy Forceps, Others [Localization Wires, etc.]) By Biopsy Type (Bone Marrow Biopsy, Cone Biopsy, Excisional Biopsy, Liquid Biopsy, Needle Biopsy, and Others [Punch Biopsy, Sentinel Node Biopsy, Shave Biopsy, etc.]), By Application (Prostate, Endometrial, Liver, Heart, Other [Kidney, Skin, etc]), By End User (Hospital, Diagnostic Labs, and Academic & Research Institutes), By Region (North America, Latin America, Europe, Asia Pacific, Africa, Middle East) is estimated to be valued at US$ 2,254.6 Mn in 2023, and is expected to exhibit a CAGR of 6.5% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Global biopsy devices market is expected to witness significant growth over the forecast period, owing to technological advancements in biopsy procedures and growing preference for minimally invasive surgeries. Technological advancements have led to development of advanced biopsy devices with enhanced accuracy and precision. For instance, the introduction of MRI-guided and ultrasound-guided biopsy devices allow real-time imaging during biopsy procedures and help in obtaining samples from difficult to reach areas without causing much discomfort to patients. Moreover, growing awareness about early detection of cancers and rising healthcare expenditure in emerging nations are also expected to propel the global biopsy devices market growth during the forecast period.
Global Biopsy Devices Market - Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly, and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
The COVID-19 pandemic led to disruptions in healthcare services worldwide, with a focus on managing and treating COVID-19 patients. Many elective procedures, including certain types of biopsies, were postponed or canceled during the peak of the pandemic. The global supply chain for medical devices, including biopsy devices, experienced disruptions due to lockdowns, restrictions on movement, and increased demand for specific medical supplies. This impacted the production and distribution of biopsy devices. According to an article published in February 2021 by National Institutes of Health (NIH), one of the world's foremost medical research centers, the COVID-19 resulted in decline in small biopsy diagnostic procedures and cancer resection surgeries in Ireland's North-West. As a result of the COVID-19 pandemic, there was a severe impact on the provision of both diagnostic and treatment services in North-West Ireland.
Global Biopsy Devices Market: Key Developments
On May 30, 2023, Argon Medical Devices, a leading provider of device solutions for interventional radiology, vascular surgery, interventional cardiology, and oncology, announced the launch of the SuperCore Advantage Semi-Automatic Biopsy Instrument in the U.S. The SuperCore Advantage is a disposable, next-generation soft tissue biopsy equipment that collects a large volume of tissue samples.
In January 2021, Hologic, Inc., an innovative medical technology company that focuses on improving women's health, announced the completion of its acquisition of SOMATEX Medical Technologies GmbH, a leader in biopsy site markers and localization technologies, for approximately US$ 64 Mn. E-Med Solutions GmbH, Berlin, a group of investors led by German private equity firm Westlake Partners, previously owned the company.
Browse 44 Market Data Tables and 45 Figures spread through 180 Pages and in-depth TOC on “Global Biopsy Devices Market”- Forecast to 2030, Global Biopsy Devices Market, By Product Type (Procedure Tray, Needle Based Biopsy Instruments, Liquid Biopsy Instruments, Biopsy Table, Biopsy Forceps, Others [Localization Wires, etc.]) By Biopsy Type (Bone Marrow Biopsy, Cone Biopsy, Excisional Biopsy, Liquid Biopsy, Needle Biopsy, Others [Punch Biopsy, Sentinel Node Biopsy, Shave Biopsy, etc.]), By Application (Prostate, Endometrial, Liver, Heart, Other [Kidney, Skin, etc]), By End User (Hospital, Diagnostic Labs, Academic & Research Institutes)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/biopsy-devices-market-220
Key Takeaways of the Global Biopsy Devices market:
- The Global Biopsy Devices market is expected to exhibit a CAGR of 6.5% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the Global Biopsy Devices market.
- Among biopsy type, the liquid biopsy segment is expected to hold the highest share in the global biopsy devices market during the forecast period, owing to launch of innovative solution by key market players. For instance, on November 01, 2023, Illumina Inc., a global leader in DNA sequencing and array-based technologies, announced the launch of a new generation of its distributed liquid biopsy assay for genomic profiling today. The TruSight Oncology 500 ctDNA v2 (TSO 500 ctDNA v2) research assay offers noninvasive comprehensive genomic profiling (CGP) of circulating tumor DNA (ctDNA) from blood when tissue testing is unavailable or to supplement tissue-based testing.
- Among region, North America region is anticipated to lead the market over the forecast period due to presence of key market players, technological innovations, and supportive government policies. For instance, on December 07, 2023, SOPHiA GENETICS, a cloud-native software company and data-driven medicine leader, launched an expanded suite of SOPHiA DDM for liquid biopsy products. MSK-ACCESS powered by SOPHiA DDM will aid in the advancement of oncology research and tumor mutation profiling.
- The major players operating in the Global Biopsy Devices market are Merit Medical Systems, Inc, Hologic, Inc., Becton, Dickinson and Company, Medtronic plc, Stryker Corporation, Leica Biosystems Nussloch GmbH, Gallini Srl, TSK Laboratory, Remicalm, Meditech Devices, Agilent Technologies Inc., Guardant Health, Inc., Agena Bioscience, nRichDX, Epic Sciences, Inc., Predicine, Inc. , Argon Medical Devices , Cook Medical, Hologic Inc., and Intact Medical Corporation
