Biopsy Devices Market Outlook 2019| Key Players: Becton, Dickinson and Company, Medtronic, B. Braun Melsungen AG, DTR Medical

Global Biopsy Devices Market is set to exceed USD 3.0 billion by 2024; according to a new research report by Global Market Insights. Rising number of baby boomers prone to suffer from chronic diseases such as cancer will act as primary driver for biopsy devices market. Furthermore, sedentary lifestyle and unhealthy dietary habits with increasing consumption of alcohol and tobacco has escalated occurrence rate of cancer globally will boost industry growth over the coming years.

Technological advancements in biopsy devices including vacuum assisted biopsy devices offering minimal invasiveness and favorable reimbursement policies such as Medicare reimbursement for biopsy to diagnose cancer will drive biopsy devices market. Presence of untapped opportunities in developing regions should further boost industry growth during the forecast timeframe.

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The latest trends in biopsy devices industry are extensively driven by technological advancements, given that IoT has extensively proliferated the medical devices business space. Bearing testimony to the aforesaid fact is the recent scoop regarding CAMPROBE being awarded the GBP 789,000 i4i (Invention for Innovation) Product Development Award by the NIHR (National Institute for Health Research). CAMPROBE, a prostate biopsy device, is apparently equipped with high-grade technology, on the grounds of which it carries the ability to transform the trans-rectal prostate biopsy from the conventional process to a safer, trans-perineal process, without any specialized equipment. Reports cite that this device depicted a zero-infection rate in pilot trials when compared to the standard biopsy method, which exhibited an infection rate of 5% to 12%. Path-breaking innovations such as these will serve to bring about a massive disruption in biopsy devices market dynamics.

Robotics technology plays a vital role in shaping the trends of guidance system biopsy devices market. For instance, recently, a 3D-printed robot model has been developed by the University of Twente, that may, in all probability revolutionize the biopsy devices industry. Tentatively called the Stormram 4, this robot has been designed to combat the inefficiencies depicted by manual MRI-guided breast biopsy procedures. While it may take a few years to gain approval post clinical trials, it is likely to bring about a massive change in the outlook of biopsy devices market from guidance systems.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Medtronic
• Cardinal Health
• Argon Medical Devices, Inc.
• BD
• Boston Scientific
• Mammotome
• Hologic, Inc.
• FUJIFILM Holdings America Corporation
• Olympus Corporation of the Americas
• INRAD

Guidance systems market is thus, certain to emerge as a potential business ground, given the novel product innovations launched by business players. The Affirm breast biopsy guidance system by Hologic, for instance, is endowed with high-grade 3D biopsy capabilities, enabling radiologists to conveniently detect areas to perform biopsy, accurately target the same, and deliver consolidated results. Another lucrative product segment constituting the product landscape of biopsy devices industry is the biopsy needle. In fact, it is preferred by most of the physicians owing to the factors such as minimal associated pain and accurate cancer detection.

Considering the global prevalence of cancer, biopsy devices market is expected to penetrate most of the geographies worldwide. Nonetheless, given that technology plays a vital role in the development of this business space, it is indisputable that developed economies such as Europe and North America will accumulate a major chunk of biopsy devices industry share. In fact, statistics claim UK and Germany to have contributed more than 22.8% and 28.6% toward Europe biopsy devices market share in 2015. Subject to the growing proliferation of technology and a highly sophisticated healthcare architecture, it is expected that Europe biopsy devices industry will witness a modest growth over 2016-2024. Germany, the developed hub of the continent, is slated to contribute more than 28% toward the overall share by 2024.

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North America, in 2015, garnered the title of being the largest regional industry, with a contribution of more than 55% toward global biopsy devices market share. The United States stands at the helm of this region, having accounted for more than 80% of the regional biopsy devices industry share in 2015. The country is home to most of the companies operating in this oligopolistic business, such as CareFusion Corporation, C.R. Bard, Hologic Inc., and Devicor Medical Products Inc., which will undoubtedly help the regional biopsy devices market to carve out a profitable growth curve. Besides, the country observes a linear escalation in the number of cancer incidences as well as the funding procedures undertaken for improved diagnostics, both of which will majorly contribute toward U.S. biopsy devices industry size. Pegged at USD 1 billion in 2015 and forecast to attain a sizable portion of the regional market by 2024, the U.S. will remain one of potential growth grounds for investors.

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