Biopsy Devices Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.15 Billion |
| Market Size (2029) | USD 2.62 Billion |
| CAGR (2024 - 2029) | 4.02 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Biopsy Devices Market Analysis
The Global Biopsy Devices Market size is estimated at USD 2.15 billion in 2024, and is expected to reach USD 2.62 billion by 2029, growing at a CAGR of 4.02% during the forecast period (2024-2029).
During the COVID 19 pandemic, the biopsy devices market was significantly impacted due to the decrease in the number of biopsy procedures due to covid restrictions. For instance, according to the study published on 'Impact of the Coronavirus (COVID-19) pandemic on surgical practice - Part 2 (surgical prioritization)' in 'International Journal of Surgery' in May 2020, all specialties had written recommendations for how to cope during this crisis, which has had a substantial impact on surgical practice. All disciplines have had to prioritize the importance of their daily surgical procedures and, where practicable, pursue non-surgical therapy options. The rise in non-surgical procedures and avoiding surgical practices have negatively impacted the market growth during the pandemic.
The propelling factors for the growth of the biopsy devices market include the increasing preference for minimally invasive procedures, an increase in the number of cancer cases worldwide, and initiatives undertaken by the governments for diagnosis. Biopsy has been one of the major diagnosis techniques for cancer disorders and is widely used in the diagnosis of breast, skin, and prostate cancer. According to the World Cancer Report, cancer rates could further increase by 50% to 15 million new cases by 2020. Therefore, with the increasing incidence of cancer cases and developments in the biopsy devices, the market is expected to increase in the forecast period.
There is also a demand for minimally invasive biopsy procedures that is rising at a significant rate in the market. The different types of technologies and products, such as biopsy guiding systems, needle-based biopsy guns, and vacuum-assisted devices are anticipated to witness the high growth during the forecast period. In addition, the growing awareness regarding breast cancer treatment and diagnosis will support the increase in the biopsy devices market size in the upcoming years. There are many countries that hold programs for the early diagnosis of breast cancer. For instance, according to the study published on 'Increasing breast cancer awareness and breast examination practices among women through health education and capacity building of primary healthcare providers: a pre-post intervention study in low socioeconomic area of Mumbai, India' in "BMJ Journal' in April 2021, following the health education interventions among these subpopulations in India, there was a significant improvement in knowledge of breast cancer signs and symptoms, risk factors, and breast self-examination behaviors among study participants.
Therefore, such initiatives are expected to accelerate the adoption rate of biopsy devices, thereby positively impacting the growth of the biopsy devices business in the foreseeable future.
Biopsy Devices Market Trends
This section covers the major market trends shaping the Biopsy Devices Market according to our research experts:
Needle-based Biopsy Instruments is Expected to Hold a Major Share in the Biopsy Devices Market
Needle-based biopsy holds the leading share in the market due to the increasing demand for these instruments that acquire 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.
According to the Globocan 2020, the incidence of breast cancer in 2020 was 2,261,419, and the mortality due to breast cancer was 684,996 across the world. Furthermore, according to the same source, breast cancer is the most common among all the cancer types. The rising incidence and mortality of cancers such as breast cancer led to higher adoption of needle-based biopsy instruments for the testing of breast cancers, thereby representing the highest growth of this segment.
In addition, rising research on needle-based biopsy devices to bring smart biopsy devices in the market is further expected to drive the growth of this segment. For instance, in 2019, Dune Medical devices completed the first in-man cases for smart biopsy devices utilizing miniaturized sensors located on a core needle. Its percutaneous soft tissue biopsy device leverages the real-time tissue characterization capability of its radio-frequency (RF) spectroscopy technology.
Therefore, rising incidence of breast cancers and increasing demand for the needle-based biopsy instruments for acquiring the samples of soft tissues are the factors that are expected to drive this segment growth.
North America Holds the Largest Share and is Expected to Follow the Same Trend Over the Forecast Period
North America 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 number of biopsies performed in the United States is also found to be the highest, helping in the expansion of the overall market. The American Cancer Society's 2020 report estimated that about 60,530 new cases of leukemia and approximately 23,100 deaths from leukemia were expected to occur in the United States in 2020. Furthermore, sophisticated healthcare infrastructure and the growing prevalence of infections will positively impact the biopsy devices' growth over the projected timeframe.
Furthermore, a strong foothold of key players in the United States is further expected to drive the growth of the biopsy market in this region. Key market players such as Danaher, Beckton Dickinson, Hologic, Cook Medical, and Boston Scientific launch their products in the United States, which will lead to higher adoption of these devices in this region.
Biopsy Devices Industry Overview
The biopsy devices market is fragmented due to a large number of market players in this market and the increasing product launches by them. The major market players operating in the biopsy devices market are Hologic, C.R. Bard Inc., and Danaher Corporation. These companies are undertaking strategies, such as product launches through technological innovations and partnerships to gain profits in the industry. Thus, new product launches are the most preferred strategy, followed by collaborations and geographical expansion for market capitalization.
Biopsy Devices Market Leaders
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Argon Medical Devices
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Cook Medical
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Hologic Inc.
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Boston Scientific
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Becton, Dickinson and Company
*Disclaimer: Major Players sorted in no particular order
Biopsy Devices Market News
- In March 2021, The Quick-Core Auto Biopsy System ("Quick-Core Auto") for soft tissue biopsy was launched by IZI Medical Products LLC ("IZI"), a prominent developer of medical devices used in interventional radiology and interventional oncology treatments. The Quick-Core Auto is a lightweight, completely automatic biopsy equipment that adds on the reliability, precision, and quality of IZI's Quick-Core semi-automatic biopsy system.
- In November 2020, NeoDynamics AB, a MedTech business dedicated to improving breast cancer diagnosis and treatment, entered a partnership with the Buckinghamshire Healthcare NHS Trust in London for its NeoNavia pulse biopsy technology.
Biopsy Devices Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions & Market Definitions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Preference for Minimally Invasive Procedures
- 4.2.2 Increase in the Number of Cancer Cases Worldwide
- 4.2.3 Initiatives Undertaken by Governments for Diagnosis
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4.3 Market Restraints
- 4.3.1 Product Recalls
- 4.3.2 Availability of Alternative Techniques
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Product
- 5.1.1 Needle-based Biopsy Instruments
- 5.1.1.1 Core Biopsy Devices
- 5.1.1.2 Aspiration Biopsy Needles
- 5.1.1.3 Vacuum-assisted Biopsy Devices
- 5.1.2 Procedure Trays
- 5.1.3 Localization Wires
- 5.1.4 Other Products
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5.2 By Application
- 5.2.1 Breast Biopsy
- 5.2.2 Lung Biopsy
- 5.2.3 Colorectal Biopsy
- 5.2.4 Prostate Biopsy
- 5.2.5 Other Applications
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 Australia
- 5.3.3.5 South Korea
- 5.3.3.6 Rest of Asia-Pacific
- 5.3.4 Middle East & Africa
- 5.3.4.1 GCC
- 5.3.4.2 South Africa
- 5.3.4.3 Rest of Middle East & Africa
- 5.3.5 South America
- 5.3.5.1 Brazil
- 5.3.5.2 Argentina
- 5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Becton, Dickinson and Company
- 6.1.2 Hologic Inc.
- 6.1.3 Danaher Corporation
- 6.1.4 Cook Medical
- 6.1.5 Boston Scientific Corporation
- 6.1.6 Intact Medical Corporation
- 6.1.7 Gallini Medical
- 6.1.8 TSK Laboratory Europe BV
- 6.1.9 Argon Medical Devices
- 6.1.10 B. Braun Melsungen AG
- 6.1.11 Cardinal Health Inc.
- 6.1.12 Medtronic PLC
- 6.1.13 Fujifilm Holdings Corportation
- 6.1.14 INRAD Inc.
- 6.1.15 Olympus Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Biopsy Devices Industry Segmentation
As per the scope of the report, a biopsy is a process that helps in the removal of tissue from an organ to determine the presence or extent of a disease, mostly cancerous and inflammatory conditions. This diagnostic procedure is generally performed by surgeons, radiologists, and interventional cardiologists to confirm the presence of cancerous tissues. Therefore, biopsy procedures can be performed for almost any organ with the help of a specific biopsy device. The biopsy devices market has been segmented by product (needle-based biopsy instruments, procedure trays, localization wires, and other products), application (breast biopsy, lung biopsy, colorectal biopsy, prostate biopsy, and other applications), and geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
| By Product | Needle-based Biopsy Instruments | Core Biopsy Devices |
| Aspiration Biopsy Needles | ||
| Vacuum-assisted Biopsy Devices | ||
| By Product | Procedure Trays | |
| Localization Wires | ||
| Other Products | ||
| By Application | Breast Biopsy | |
| Lung Biopsy | ||
| Colorectal Biopsy | ||
| Prostate Biopsy | ||
| Other Applications | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East & Africa | GCC |
| South Africa | ||
| Rest of Middle East & Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Biopsy Devices Market Research FAQs
How big is the Global Biopsy Devices Market?
The Global Biopsy Devices Market size is expected to reach USD 2.15 billion in 2024 and grow at a CAGR of 4.02% to reach USD 2.62 billion by 2029.
What is the current Global Biopsy Devices Market size?
In 2024, the Global Biopsy Devices Market size is expected to reach USD 2.15 billion.
Who are the key players in Global Biopsy Devices Market?
Argon Medical Devices, Cook Medical, Hologic Inc., Boston Scientific and Becton, Dickinson and Company are the major companies operating in the Global Biopsy Devices Market.
Which is the fastest growing region in Global Biopsy Devices Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Biopsy Devices Market?
In 2024, the North America accounts for the largest market share in Global Biopsy Devices Market.
What years does this Global Biopsy Devices Market cover, and what was the market size in 2023?
In 2023, the Global Biopsy Devices Market size was estimated at USD 2.07 billion. The report covers the Global Biopsy Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Biopsy Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Biopsy Devices Industry Report
Statistics for the 2024 Biopsy Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Biopsy Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
