According to our new research study of “Biopsy Devices Market to 2027 – COVID-19 Impact and Global Analysis by Product (Needle-Based Biopsy, Localization Wires, Procedure Trays, and Others); Technology (CT Scan, Ultrasound-Guided Biopsy, Stereotactic-Guided Biopsy, MRI-Guided Biopsy, and Others); Application (Lung Biopsy, Kidney Biopsy, Liver Biopsy, Breast Biopsy, and Others), and Geography,” the market is expected to reach US$ 3,584.20 million by 2027 from US$ 2,230.86 million in 2019; it is projected to grow at a CAGR of 6.2% during 2020–2027. The report highlights trends prevailing in the global biopsy devices market with the factors driving the market growth and those hampering it.
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The global biopsy devices market, based on application, is segmented into lung biopsy, kidney biopsy, liver biopsy, breast biopsy, and others. In 2019, the breast biopsy segment held the largest share of the market, and it is also expected to register the highest CAGR from 2020 to 2027. Breast biopsy refers to a procedure of removing a small sample of breast for laboratory testing. According to the Centers of Disease Control and Prevention (CDC), more than 1 million females undergo breast biopsy in the US each year. It is one of the most commonly performed procedures as the technique is relatively simple and has low underlying risks.
Although there have been various investigations regarding biopsy for various tissue masses, there is presence of scant data that proves the accuracy associated with the biopsy procedures. The amount of cells and tissues obtained in several cases after performing biopsy is insufficient to investigate them and reach an appropriate medical inference. These limitations are particularly observed in cases of lymphoma diagnosis. Moreover, in a few cases, the lesser invasive biopsy procedures are unable to detect lesions and determine the extent to which the disease is prevailing in the patient’s body, thereby resulting in an uncertain diagnosis even after the performance of a technically successful procedure. Moreover, the minimally invasive biopsy techniques fail to provide appropriate diagnosis of the disease, which leads to the need to perform open biopsy procedure a surgical treatment consuming ample time and requiring long hospital stays, coupled with pain and discomfort to patients. These limitations associated with the technique of biopsy hinder the growth of biopsy devices market.
The biopsy devices market majorly includes the players such as BD, B. Braun Melsungen AG, Boston Scientific Corporation, Cardinal Health, Inc., Cook Medical LLC, Danaher, Fujifilm Corporation, Hologic, Inc., Medtronic, and Argon Medical Devices.
The report analyzes biopsy devices market on the basis of following segments:
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