Biopsy Systems Market Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026

The procedure of removal of the tissues from the living body to examine the cause or extent of a disease is known as biopsy. Biopsies is said to be the first step in the diagnosis of cancer. They are performed to identify whether the cells are cancerous. There are several kinds of biopsies such as needle biopsy, endoscopic biopsy, skin biopsy, and bone marrow biopsy. Biopsy systems examine the cells and the tissues and aid the physician in the diagnosis of a disease. These are image-guided systems and they are primarily used in the diagnosis of breast cancer and prostate cancer.

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The global biopsy systems market is likely to experience robust growth during the forecast period. High prevalence of cancer across the globe is one the major factors likely to drive the market during the forecast period. Breast cancer is the second-most common cancer in the world. According to the World Cancer Research Fund International, about 1.7 million new cases of breast cancer were diagnosed in 2012. This factor is estimated to propel the global biopsy systems market during the forecast period. Rising awareness about early diagnosis, demand for less invasive procedures, and availability of advanced biopsy systems are some other factors projected to drive the market from 2018 to 2026. Furthermore, high health care expenditure, increase in geriatric population, demand for accurate diagnostic procedures for cancer, and the emerging trend of minimally invasive surgeries are expected to fuel the global biopsy systems market during the forecast period. However, poor facilities for the diagnosis of cancer in a few developing countries and high cost of biopsy systems are likely to restrain the market during the forecast period.

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The global biopsy systems market can be segmented based on biopsy type, image guidance, end-user, and region. In terms of biopsy type, the market can be segmented into breast cancer, prostate cancer, stomach cancer, and others. The breast cancer segment is expected to hold the highest share of the global market during the forecast period, due to high prevalence of the disease. Based on image guidance, the biopsy systems market can be segmented into X-ray-guided, ultrasound-guided, MRI-guided, and PET-guided. Based on end-user, the market can be divided into emergency care, hospitals, ambulatory surgical centers, and others. The hospitals segment is expected to hold the highest share of the global market during the forecast period, due to increase in the number of hospitals and user convenience.

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The biopsy systems market is projected to expand at a significant growth rate across all regions. Geographically, the global biopsy systems market has been divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the global biopsy systems market, in terms of both value and volume. Developed health care infrastructure, increase prevalence of unhealthy lifestyle, high adoption of biopsy systems, rise in health care expenditure, and high prevalence of cancer in the U.S. are factors attributable to growth of the market in North America. Europe is expected to be the second-largest market for biopsy systems during the forecast period, due to rise in geriatric population, increase in health care expenditure, etc. Asia Pacific is expected to be a rapidly expanding market for biopsy systems during the forecast period, due to factors such as high prevalence of cancer, rising awareness among people about the diagnosis of diseases, high disposable income, and improving health care infrastructure in the region.

In order to maintain a significant position in the global biopsy systems market, key players are adopting strategies such as development of user-friendly and cost-effective products, mergers and acquisitions, extensive R&D activities, and geographical expansion. Some of the prominent players operating in the global biopsy systems market are Hologic, Inc., Siemens Healthineers, C. R. Bard, Inc., and Aurora Imaging Technology, Inc.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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