Breast Biopsy Devices Market - Growth, Future Prospects, Competitive Analysis, 2018 - 2023

Breast Biopsy Devices Market

The global breast biopsy devices market was valued at US$ xx million in the year 2018 and is expected to reach US$ xx million by the year 2023, growing at a CAGR of approximately 10.9%.

Breast biopsy is the procedure done to obtain tissues or cell samples from the breast. The sample obtained is further tested to check for the presence of cancer. There are 3 types of biopsies, namely core-needle biopsy, fine-needle biopsy, and surgical biopsy.

Fine-needle biopsies are performed when there is a suspicion that the lump is filled with fluid. The fluid from the lump is drawn out and discarded. During a core needle biopsy, a small amount of the suspicious tissue is removed from the breast with the help of a needle that has a larger “core”. Most of the times, specialized imaging equipment are used to guide the needle to the desired site. The various equipment used for this purpose include ultrasound equipment, stereotactic equipment or magnetic resonance.

The major factors that are driving the growth of the breast biopsy devices market are the rising incidence of breast cancer, rising number of breast cancer screening programs across the globe, and increasing reimbursement rates in developed countries. The major players in this market are increasingly focusing on launching new and technological advanced products. This is also expected to drive market growth. The breast biopsy wounds and cuts are susceptible to infections if proper care is not taken. This factor may impede the growth of the breast biopsy devices market.

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The breast biopsy devices market report covers an in-depth analysis of the market including statistical and subjective data points, along with the key market drivers and opportunities & restraints that have positive or negative effects on the overall global market. An exclusive coverage has been provided for market drivers and challenges & opportunities for a country-level market in the respective regional segments. The report comprises a competitive analysis of the key players functioning in the market and covers in-depth data related to the competitive landscape of the market and the recent strategies & products that will assist or affect the market in the near future and guidance systems and others.

The needle-based biopsy guns segment is further segmented into Fine needle aspiration biopsy devices, vacuum-assisted biopsy devices, and Core needle biopsy devices. The core needle biopsy device segment is expected to dominate the market. Core needle biopsies provide more definitive diagnosis and are less invasive as compared to other types of biopsies.

The biopsy needle segment is further segmented into, disposable biopsy needles and reusable biopsy needles. The market is witnessing an increasing preference of the use of disposable needles over reusable ones. The guidance systems segment is further divided into Ultrasound-guided, Mammography equipment, and Magnetic Resonance. The other devices include biopsy tables, localization wires, and biopsy forceps, amongst others.

Geographically, North America is dominating the breast biopsy devices market. The major factors responsible for the dominance of this region are the increasing incidence of breast cancer and rising screening programmers in the region. For instance, according the International Agency for Research on Cancer, the number of new breast cancer cases in the US was 234,087 in the year 2018.

The United States Preventive Services Task Force (USPSTF) recommends a mammogram every 2 years to women who are 50 to 74 year old and have an average risk of getting breast cancer. Apart from this, the private group, individual and state Medicaid programs must cover certain breast cancer screening tests at no cost to the consumer. In the year 2015, 52% women in the age group 40-49 and 72% of the women in the age group of 50-74 had a mammogram in the last 2 years.

The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The rising incidence of breast cancer in countries such as Japan, China, and India is one of the major factors in driving the growth of the breast biopsy devices market in this region. Apart from this, various screening programmes undertaken by the governments in this region are also expected to augment the growth of this market during the forecast period.

Company Profiles:

The major players operating in the global breast biopsy devices market are C.R. Bard Inc (US), Hologic Inc. (US), Argon Medical Devices (US), Beckton Dickinson (US), Cook Medical Inc. (US), Ethicon Endo Surgery (Johnson & Johnson) (US), Devicor Medical Products (US), Encapsule Medical Devices LLC (US), and Intact Medical Corporation (US), amongst others.

The major players are launching new products in the market in order to retain their market share. For instance, in August 2017, Hologic launched a new imaging system for breast biopsy in the United States. The Brevera system can be used for 2D and 3D biopsy. The system will enable fast and efficient procedures that will save the overall cost of the procedure and also enhance patient experience. It enables the collection and imaging of tissue samples within few seconds and can reduce procedure time by about 25%.

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