New York, USA, March 14, 2023 (GLOBE NEWSWIRE) -- Biopsy Devices Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Biopsy Devices Market Information By Product Type, Application, End User and Region - Forecast till 2030" the market is estimated to grow at a significant CAGR of 6.80%. Therefore, the Market Value is anticipated to touch around USD 2.4 billion in the studied forecast period 2022-2030.
Market Scope
In a biopsy, a piece of tissue or a sample of tissue is utilised to make a diagnosis. This method is often utilised to remove any malignant tissue. As the prevalence of malignant diseases rising, there is a rising demand for biopsies. Also, the market for biopsy devices is growing as a result of consumer demand for novel and cutting-edge goods. In the coming years, Asia-Pacific is expected to develop the fastest. It consists of important nations like China, Japan, India, and many others that are fostering market expansion.
The COVID-19 sickness caused temporary closures of the factories and other industries as it spread over the globe. The supply chain and the discrepancy between supply and surging demand were also severely disrupted. Nonetheless, as soon as the lockdown was lifted, the major players began to implement fresh plans and make investments that are helping to drive the market's expansion during the examined forecast period.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 2.4 Billion |
| CAGR | 6.80% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, Application and End-User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The increasing cases of chronic diseases such as cancer, diabetes |
| The demand for new and advanced products is improving the Biopsy Devices Market Growth |
Dynamics
The main drivers of the Biopsy Devices Industry are the rising incidences of chronic diseases like cancer, diabetes, etc. The market for biopsy devices is also growing as a result of the ageing population, rising healthcare costs, and other factors. The high price of medical equipment needed for diagnosis and treatment may impede market expansion.
Future market value will also be hampered by low knowledge and inadequate healthcare facilities in many developing and undeveloped nations.
The market for biopsy devices is expected to grow in a number of ways. The market is primarily benefiting greatly from the increased emphasis on enhancing the efficacy of testing and product designs. Devices for diagnosing diseases have challenging accuracy problems. High requirements for certifications and time-consuming elements might also cause delays in diagnosis, which can impede market expansion.
The market will develop as a result of factors like the increase in cancer cases and other malignant disorders. Rising healthcare costs, the development of new products and technology to aid in diagnostics and rising biopsy device market trends are some positive aspects. The market's value chain will be enhanced in the next years as a result of the expanding need for new products.
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Competitive Analysis
Some of the crucial key players of the Biopsy Devices Market are as follows.
- Boston Scientific Corporation (US)
- Cardinal Health Inc. (US)
- Medtronic plc (Ireland)
- Braun Melsungen AG (Germany)
- INRAD Inc. (US)
- Olympus Corporation (Japan)
- Devicor Medical Products Inc. (US)
- FUJIFILM Holding Corporation (Japan)
- Leica Biosystems (Germany)
- Cook Group Incorporated (US)
- Argon Medical Devices (US)
- Becton, Dickinson, and Company (US)
- R. Bard (US)
- Focal Therapeutics Inc. (US)
- Integra LifeSciences Corporation (US)
Market Segmentation
The product, product type, applications, and end-user segments of the biopsy devices market are separated. The industry is split into Consumables and Instruments based on the type of product. The consumable is divided into Kits and Reagents as well as Semi-Automated, Automated, and Manual Instruments.
The Biopsy Devices Market is divided into Biopsy Guidance Systems, Biopsy Needles, Forceps, Biopsy Guns, and Others based on the Product Type.
The Biopsy Devices Market is divided into Needle Biopsy, Skin Biopsy, Surgical Biopsy, and Bone Marrow Biopsy based on application.
The Biopsy Devices Market is segmented into Specialty Clinics, Academic Research Institutions, Hospitals, Diagnostic Centers, and Others based on end-users.
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Regional Outlook
Region-based market segmentation for biopsy devices includes the Americas, Asia-Pacific, Europe, Africa, and the Middle East. South America and North America make up the Americas region. The highest market share for biopsy devices is regarded as being in North America. Nonetheless, Europe is thought to hold the second-largest market share.
The market expansion in this region is being fueled by the rising use of technologically advanced items and government-backed initiatives.
Yet, it is determined that within the examined projected period, the Asia-Pacific area will have the largest increase. The market in this region is expanding as a result of rising cancer illness cases and a growing demand for innovative healthcare products. In the approaching years, Africa and the Middle East will also account for a sizeable portion of the global market for biopsy devices. The healthcare industry's improvement and growing awareness will have the biggest positive effects.
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