Breast Biopsy Devices Market Trends, Drivers, Growth Opportunities, Investment Opportunities, and Demand Forecast to 2023

Global breast biopsy devices market is forecasted to generate a revenue of $1.4 billion by 2023, P&S Market Research.The growth is mainly led by product and technological innovations, increasing incidence of breast cancer cases, rising propensity for minimally invasive surgeries, and mounting number of breast cancer screening programs.

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On the basis of the procedure conducted for breast biopsy, the market is categorized into vacuum-assisted, core needle, fine needle aspiration, and surgical biopsy. Vacuum-assisted biopsies have been accounting for the largest share in the breast biopsy devices market till now. It is also expected to be the fastest growing category during the forecast period. This can be mainly attributed to its various advantages, such as its ability to precisely locate the area of abnormality using imaging guidance, so that samples are removed only from the region of interest.

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On the basis of product, the breast biopsy devices market has been segmented into guidance systems, biopsy needles/guns, biopsy tables, biopsy wires, and other products. Guidance systems are estimated to hold the largest share of 40.1%, in the market in 2017, with its demand majorly driven by the availability of stereotactic breast biopsy and tomosynthesis options in a single system, and the requirement of these systems in all types of surgeries.
According to International Agency for Research on Cancer, in 2012, breast cancer incidences reported in India were 144,937 and the mortality rate in women in India was 70,218, which is comparatively higher than China (47,989). In order to balance these statistics, the government and several other organizations are also creating awareness about breast cancer. For instance, October has been designated as the breast cancer awareness month by the government of India, which is an annual campaign to educate people about breast cancer. Also, the Pink Initiative, a registered charity in Mumbai, creates awareness about breast cancer amongst women in India. These factors cumulatively lead to growth in the demand of breast biopsy devices in the region.

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Globally, key players in the breast biopsy devices industry are launching products to gain a larger market share. For instance, in November 2017, Siemens Healthineers, a subsidiary of Siemens AG, unveiled its new Mammomat Revelation imaging system at the 2017 Radiological Society of North America (RSNA) Annual Meeting in Chicago. 3D HD Breast Biopsy uses company’s 50-degree wide-angle HD breast tomosynthesis to obtain more targeted, accurate biopsies at a lower dose. The system also offers titanium contrast-enhanced mammography exams and automated breast density measurement.

In August 2017, Hologic Inc. announced the commercial availability of Brevera breast biopsy system with CorLumina imaging technology, in the U.S. The Brevera system provides clinicians with more information at the point of care and results in significant cost and time savings without compromising with accuracy or patient health outcomes.

Some of the other major players operating in the breast biopsy devices market include Danaher Corporation, Argon Medical Devices Inc., Becton, Dickinson and Company, Sterylab S.R.L., Scion Medical Technologies LLC, Planmed Oy, Medtronic plc, and Cook Medical LLC.

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