Biopsy Devices Market - Increasing Incidences of Cancer Such As Breast, Prostate, & Lung and Rapid Technological Advancements Have Been Stimulating the Growth of the Market

Biopsy Devices Market was valued at $1,621 million, and is expected to reach $2,399 million by 2022, supported by a CAGR of 5.8%.

The biopsy device market is increasing in many types of cancer, such as rapid technological advances in the areas of breast, prostate, lung, and diagnosis. Emerging countries have witnessed the frequent occurrence of chronic diseases due to the increase in the elderly population and changes in lifestyle.

The advent of new biopsy techniques and advanced integrated imaging technologies such as MRI, CT, and ultrasound are expected to complement the diagnosis of cancer using chronic disease, a biopsy procedure. However, high costs associated with advanced biopsy techniques can limit market growth.

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The key companies profiled in the report are
• C.R. Bard Inc.
• Leica Biosystems
• Hologic Inc.
• Becton
• Dickinson and Company
• Ethicon EndoSurgery Inc.
• Fujifilm Medical Systems
• Veran Medical Technologies
• Boston Scientific Corporation
• MDxHealth
• Mauna Kea Technologies
• Cook Medical Inc.
• Medtronic
• Argon Medical Devices Inc
• Intact Medical Corp.

North America was the highest revenue generating region due to rise in incidences of chronic diseases in 2015. North America and Europe, collectively, accounted for more than three-fourths of the overall market in 2015; this trend is likely to continue over the forecast period. Factors that drive the growth of biopsy devices in the developed regions are awareness about cancer diagnosis, high purchasing power, and availability of skilled personnel to perform biopsy procedures.

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Key Findings of Biopsy Devices Market:
• CT-guided biopsy segment is anticipated to grow at the highest CAGR of 6.3% during the forecast period.
• The diagnostic centers would continue to lead the revenue generating end use segment by garnering around half of the share in the overall market.
• Lung biopsy is projected to be the fastest growing application segment, registering a CAGR of 7.0%.
• The robotic guidance system segment is expected to register the highest CAGR of 7.0%.
• The Asia-Pacific region is projected to be the fastest growing market, with a CAGR of 7.2%.
• Hospitals are projected be the fastest growing end use segment, owing to increase in integration of diagnostic facilities within the premises.

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