The increased frequency of biopsy procedures drives the heightened demand for biopsy devices. Different biopsy devices are utilized based on the specific anatomy and type of biopsy. These devices are designed to extract tissue samples from various locations or within the body, such as the skin, breasts, kidneys, lungs, and liver. The advancement in accuracy and safety associated with biopsy procedures has spurred the development of innovative and more efficient biopsy devices.
BIS Research forecasts the global biopsy devices market to reach $11.86 billion in 2027 from $5.85 billion in 2022, growing at a CAGR of 15.15% during the forecast period 2023-2027.
The global biopsy devices market is undergoing transformative changes, with a notable shift from traditional to minimally invasive needle-based biopsy instruments. This transition offers a less invasive alternative, reducing patient discomfort and enabling faster recovery. Needle-based biopsies are versatile, extending beyond cancer diagnosis to various diseases and enhancing early detection and treatment.
Biopsy devices have evolved with time, ensuring improved accuracy and precision in disease diagnosis, particularly for cancer. This advancement contributes to better patient outcomes across various medical conditions. Additionally, integrating advanced imaging technologies with biopsies is a key trend, enhancing precision and patient recovery. The market growth fosters ongoing research and development to improve diagnostic and treatment methodologies.
BIS Research, a leading market research firm, has released a report titled “Biopsy Devices Market,” which discusses the challenges, growth factors, and future opportunities driving the remarkable growth of the global biopsy devices market. The detailed study is a compilation of 11 market data tables and 238 figures spread across 285 pages.
Some major companies operating in the global biopsy devices market are:
Regions, product types, biopsy procedures, diseases, anatomy, and guidance techniques categorize the global biopsy device market. The Americas lead due to prominent market players and a growing incidence of target diseases, holding a substantial 52.70% share in the global biopsy devices market in 2022. Following this, the Europe, Middle East, and Africa (EMEA) region is expected to increase cancer incidence by 94.13% in 2040 significantly.
In terms of product type, liquid biopsy dominated the market with a 53.38% share in 2022 and is projected to grow at a CAGR of 21.08% from 2023 to 2027. Liquid biopsy, primarily a blood test, is an early cancer detection tool with diverse applications in oncology and non-oncology settings. Additionally, among guidance techniques, X-Ray-guided biopsy generated the highest share of 41.00% in 2022, with an anticipated CAGR of 4.68% during the forecast period from 2023 to 2027.
The global biopsy devices market is experiencing substantial growth, surpassing a valuation of $6 billion in 2023. Key drivers of this growth include the increasing incidence of cancer, rising awareness of non-invasive testing, the adoption of expansion strategies by established companies, and augmented research funding from entities such as the U.S. National Institute of Health. This market presents opportunities for new entrants and existing companies to capitalize on their expanding value. Advanced biopsy devices and virtual biopsies, characterized by speed, cost-effectiveness, and safety, are particularly promising.
Virtual biopsy, a non-invasive imaging method, utilizes data from medical scans to offer probability-based insights for cancer assessment, diagnosis, grading, treatment planning, and prognosis, eliminating the need for surgical procedures.
However, impediments to market growth include the risk of infection from biopsy procedures, the high cost associated with these procedures, and the dynamic regulatory and reimbursement landscape for liquid biopsy.
The global biopsy devices market report provides a credible global and regional analysis. The report profiles existing and upcoming products, types, applications, end users, and key players in the market.
BIS Research follows an effective market intelligence methodology comprising a crucial 15-step process. Data is captured from reliable, intelligent sources such as expert interviews, patents, web analytics, scholarly articles, scientific publications, and research and development literature.
BIS follows the Deep Tech M-A-P™ approach, which includes market, application, and product within the syndicate and custom research projects.
M– The Market section covers industry overview, business dynamics, competitive benchmarks, and company profiles. It provides insights to enter, expand, or exit markets globally, regionally, or locally.
A- The Application section delves into product analyses, technology insights, use cases, and user types. This data is backed by precise market estimates and forecasts.
P– The Product section covers products, parts, technologies, and materials. Companies looking to drive an innovative agenda need information about product definitions, demand analysis, technology benchmarking and roadmaps, patents, and pricing analysis.
BIS Healthcare analyst note suggests, “The global biopsy devices market is set for exponential growth and is expected to reach $11.86 billion in 2027. Factors such as reduced patient discomfort, quicker recovery, and broader applications beyond cancer diagnosis are driving the market toward minimally invasive needle-based biopsies. Moreover, integrating advanced imaging technologies, such as MRI and PET scans, with biopsy procedures enhances precision and patient outcomes.”
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish over 200 market intelligence studies annually, focusing on several deep technology verticals.
Our strategic market analysis emphasizes market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
BIS Research offers syndicate and custom studies and expert consultations to firms, providing them with specific and actionable insights on novel technology markets, business models, and competitive landscapes.
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