Market Trends of Europe Biopsy Devices Industry
This section covers the major market trends shaping the Europe Biopsy Devices Market according to our research experts:
Needle-based Biopsy Instruments is Expected to Hold a Major Market Share in the Biopsy Devices Market
Needle-based biopsy holds the leading share in the market due to the increasing demand for these instruments for acquiring samples from soft tissues of internal organs, such as breasts, kidneys, and lungs. This is poised to contribute to the growth of the overall market during the forecast period.
The high prevalence of cancer cases in the region is likely to add to the market growth. For instance, according to Globocan 2020, the estimated number of new breast cancer cases in 2020 was 531,000 in Europe which is expected to increase and reach up to 568,000 by 2040. Furthermore, according to the same source, breast cancer is the most common among all cancer types. The rising cases of breast cancer cases are likely to increase the adoption of needle-based biopsy instruments for the testing of breast cancers, thereby representing the highest growth of this segment.
Therefore, the rising incidence of breast cancers and increasing demand for needle-based biopsy instruments for acquiring samples of soft tissues are the factors that are expected to drive this segment's growth.
The United Kingdom is Expected to Dominate Europe Biopsy Devices Market
The United Kingdom is the leading revenue contributor in the market. The established market players in the region will continue to account for a substantial share of the market throughout the forecast period.
The increasing number of cancer cases in the United Kingdom is expected to increase the demand for biopsies. For instance, as per the data updated in August 2022, by Blood Cancer UK, blood cancer is the fifth most common cancer in the United Kingdom, with over 41,000 people being diagnosed with it every year. As per the same source, about 250,000 people are living with blood cancer in the United Kingdom. The same source also stated that one in every 16 men and one in every 22 women are likely to develop blood cancer at some point in their lives, It is the most common type of childhood cancer. Besides, it also stated that every year, more than 500 children aged under 15 are diagnosed with blood cancer and of these, about 400 have childhood leukemia and about 100 have lymphoma. Furthermore, sophisticated healthcare infrastructure and the growing prevalence of infections will positively impact the biopsy devices' growth over the projected timeframe.
Also, the increasing launches by manufacturers to meet the growing demand for innovative products are expected to drive market growth. For instance, in March 2022, United Kingdom's National Health Service offered liquid biopsy tests to certain cancer patients as a complement to anatomic pathology testing. Such initiatives are expected to boost the growth of the market in the country over the forecast period.
Thus, all aforementioned factors are expected to boost the market in the region over the forecast period.
