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Oct 6, 2020 2:40 PM ET

Global Robotic Biopsy Devices Market Is Set For Rapid Growth, To Reach Around USD 683.3 Million by 2025


iCrowd Newswire - Oct 6, 2020

Zion Market Research has published a new report titled “Robotic Biopsy Devices Market by Product Type (Instruments and Accessories and System); by Application (Prostate Biopsy, Brain Biopsy, Lung Biopsy and Other Applications): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2025”. According to the report, global demand for robotic biopsy devices market was valued at approximately USD 298.5 million in 2018, and is expected to generate revenue of around USD 683.3 million by end of 2025, growing at a CAGR of around 12.6% between 2019 and 2025.

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A biopsy is a surgical technique used to remove tissue sample from the body of a patient for analysis. Biopsy is carried out to carefully remove sample of cells or tissues from tumor which may be cancerous or non-cancerous origin. Biopsy is basic diagnostic test for cancer and also some other conditions. Mass, lump or tumor observed during imaging tests can be confirmed for cancer using biopsy. Different types of biopsies are performed which include bone marrow biopsy, needle biopsy, endoscopic biopsy, surgical biopsy, skin biopsy etc. In order to remove cells or tissue mass safely from patient, biopsy is usually performed using imaging modalities like x-ray, ultrasound, magnetic resonance imaging (MRI) or computed tomography (CT). These imaging techniques are used to guide the biopsy needle at the precise location for tissue removal. To minimize complications and overall procedure time, biopsies are performed with the help of robot.

Global Robotic Biopsy Devices Market

Robotic biopsy devices market growth is supported by various factors such as growing incidence rate of cancer across the globe and increasing adoption of minimally invasive surgical procedures. Also, increasing awareness about cancer, increasing healthcare spending and favorable reimbursement policies are important factors that help propel the market growth. However, high cost of procedure and dearth of trained professionals may limit the market growth during the forecast period. Untapped markets are projected to bring new growth opportunities for major market players operating in the robotic biopsy devices market.

The robotic biopsy devices market is segmented based on application, product type, and region. Based on product type, market is segmented into system and instruments and accessories. In 2018, global robotic biopsy devices market was dominated by instruments and accessories product type segment with revenue share of almost 60%. This large share is accredited to availability of large range of instruments for biopsy and accessories. Growing cancer prevalence and increasing investments by end users to offer better patient care are estimated to further boost the market growth of this segment.

Based on application, market is segmented into brain biopsy, lung biopsy, prostate biopsy and other applications. Lung biopsy is the most prevalent cancer type and leading cause of mortality. Lung cancer application segment held largest market share in 2018. Growing lung cancer prevalence along with rise in smoking, changing environmental conditions, increasing air pollution levels and increasing awareness are other factors that are expected to boost the market growth of lung cancer application segment.
At regional level, North America dominated the market in 2018 with revenue share of almost 40%. Increasing cancer prevalence, favorable reimbursement policies, increasing adoption of minimally invasive surgical procedures and availability of advanced health facilities are factors that support the market growth in this region. Europe was second leading regional market for robotic biopsy devices. Swift adoption of technologically advanced instruments, growing elderly population, increasing cancer prevalence, and increasing awareness are key factors that fuel the market growth in this region. Latin America is projected to exhibit considerable growth over the forecast period with growth focused in Brazil. Asia Pacific region will register highest growth for robotic biopsy devices market over the forecast period. This high growth is attributed to rising awareness and swift adoption of minimally invasive robot assisted surgical biopsy procedures, increasing health spending along with growing cancer prevalence, and increasing aging population are factors promoting robotic biopsy devices market growth in Asia Pacific. Middle East and Africa region is estimated to show reasonable growth in coming years.

Major players included in the report are Medrobotics, Medtech SA, Mazor Robotics, Biobot Surgical Pte Ltd, Renishaw plc, Medtronic and iSYS Medizintechnik GmbH among others.

The report segment of global robotic biopsy devices market as follows:

Global Robotic Biopsy Devices Market: By Product Type

Global Robotic Biopsy Devices MarketBy Application

Global Robotic Biopsy Devices Market: By Region

To view TOC of this report is available upon request @ https://www.zionmarketresearch.com/toc/robotic-biopsy-devices-market 



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