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The Market Potential for Breast Biopsy | Breast Cancer Industry Forecast, 2016-2023

02-06-2019 06:18 PM CET | Health & Medicine

Press release from: Allied Market Research

Breast Biopsy Market

Breast Biopsy Market

Global Breast Biopsy Market was valued at $976.7 million in 2016, and is projected to reach at $1,420 million by 2023, growing at a CAGR of 5.3% from 2017 to 2023. Breast biopsy is a test performed to remove tissue or fluid from the suspicious area of the patient’s body, while the removed sample is further examined to check the presence of breast cancer. There are different types of biopsy procedures depending on the product, such as vacuum assisted biopsy (VAB), core needle biopsy (CNB), and fine needle aspiration biopsy (FNAB), recommended by the doctor based on the location, size, and other characteristics of the breast abnormality.

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A breast biopsy is the procedure of locating a diseased tissue in the breast and collecting the specimen sample of the area for further examination and diagnosis. Breast biopsies are performed by using minimally invasive biopsy systems, owing to minimal disfigurement and pain. Non-invasive biopsy techniques provide preventive measures that assist physicians in diagnosing and treating high-risk breast cancer. This information prevents the application of chemotherapy in breast cancer, reducing the complexities of chemo-radiations. Vacuum assisted breast biopsy devices (VAB), core needle biopsies and fine needle aspiration biopsy are commonly used to perform biopsy procedures.

The major factors that boost the market growth include rise in incidence of breast cancer, growth in awareness toward cancer screening programs, and increase in demand for minimal invasive breast biopsies. Moreover, the ongoing technological advancements of diagnostic and treatment technology for breast cancer have undergone a gradual transition from open surgery to minimal invasive biopsy procedures. Breast cancer is the most common type of cancer in women, especially in the U.S., where it is the second leading cause of death propels the demand for breast biopsy procedures. Furthermore, requirement of robust measures for disease control, the thrust for newer technologies has led to the development of minimal invasive surgeries. This has made breast biopsy as preferred modality to diagnose breast cancer and identify complex tumors and make accurate diagnosis. However, lack of awareness toward the availability of novel breast biopsy techniques and risk of infection involved in the procedures are projected to hamper the market growth.

The core needle biopsy (CNB) segment dominated the global market in 2016, and is expected to maintain this trend throughout the analysis period, owing to the less invasive procedure compared to others and it provides more definitive diagnosis. Moreover, use of CNB and ultrasonographic and mammographic guidance is highly accurate for diagnosing breast cancer that supplements the market growth.

The ultrasound guided biopsy is poised to grow at the highest rate during the forecast period, owing to the sound waves used instead ionizing radiation to locate abnormality or lump and is less invasive in nature with reduced scars. Ultrasound guided biopsy segment is expected to grow at a high CAGR of 6.1% from 2017 to 2023.

Key players operating in the market include Hologic Inc., Leica Biosystems Nussloch GmbH (Devicor Medical Products, Inc.), C. R. Bard, Inc., Becton and Dickinson Company, Argon Medical Devices, Cook Medical Incorporated, Encapsule medical Devices LLC., Ethicon Endo Surgery (Johnson & Johnson), Intact Medical Corporation, and Galini SRL.

Table Of Content

Chapter: 1 INTRODUCTION
1.1. KEY BENEFITS
1.2. KEY MARKET SEGMENTS
1.3. KEY PLAYERS
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models

Chapter: 2 EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE

Chapter: 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top winning strategies
3.2.2. Top investment pockets
3.3. PORTERS FIVE FORCES ANALYSIS
3.4. REGULATORY FRAMEWORK AND REIMBURSEMENT SCENARIO
3.5. TOP PLAYER POSITIONING, 2016
3.6. MARKET DYNAMICS
3.6.1. Drivers
3.6.1.1. Rise in incidence rate of breast cancer
3.6.1.2. Advent of novel and minimal invasive biopsy procedures
3.6.1.3. Increase in number of breast cancer screening programs
3.6.1.4. Technological advancements in breast imaging equipment
3.6.2. Restraints
3.6.2.1. Uncertain regulatory issues
3.6.2.2. Infectious risk associated with breast biopsy procedures
3.6.2.3. High cost and unclear reimbursement policies
3.6.3. Opportunities
3.6.3.1. Untapped emerging economies
3.6.3.2. Increasing awareness regarding breast cancer

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About us

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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