Global Biopsy Devices Market to Reach $4.64 Billion by 2029, Growing at 9.2% CAGR

How Are the key drivers contributing to the expansion of the biopsy devices market?
The increasing number of cancer cases is driving growth in the biopsy devices market. Doctors commonly use a biopsy as the first step in diagnosing potential abnormalities in the body, particularly if cancer is suspected. The American Cancer Society, a US voluntary health organization devoted to eradicating cancer, declared in January 2023 that roughly 1.9 million new cancer cases are projected to be diagnosed in the US in 2022, with an estimated mortality of 609,360 related to cancer. In particular, an estimated 151,030 new colorectal cancer cases are predicted to be identified by the end of 2022, which could cause approximately 52,550 deaths by 2023. Moreover, an article from the Canadian Medical Association Journal, an open-access peer-reviewed general medical journal published by the Canadian Medical Association, in May 2022 stated that it is predicted that around 233,900 new cancer cases will be diagnosed in Canada in 2022. Of these, about 28,600 are expected to be breast cancer, representing approximately 25% of all new cancer diagnoses in women that year. Lung cancer is predicted to be the most common type of cancer in Canada in 2022, with a projected 30,000 new cases.

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What growth opportunities are expected to drive the biopsy devices market's CAGR through 2034?
The biopsy devices market has seen significant expansion in the last few years. The market's worth will rise from $3.03 billion in 2024 to $3.26 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.7%. The historic growth trend of this market can be credited to the growth in emerging markets, improvements in healthcare infrastructure, and an increase in the aging population.

Expectations are high for a robust expansion in the biopsy devices market in the coming years. The market is projected to appreciate to $4.64 billion by 2029, with a compound annual growth rate (CAGR) of 9.2%. This anticipated growth within the forecast period is largely attributed to government spending in healthcare, increased incidences of cancer, and surges in general healthcare expenditure, all of which will contribute to this market's expansion. Key trends anticipated during the forecast period comprises advancements in technology, the introduction of fully automated biopsy systems, product innovations, the rise of robot-assisted biopsy systems, collaborations and partnerships, and heightened investments.

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What are the emerging trends shaping the future of the biopsy devices market?
The biopsy devices market is being transformed by robot-assisted biopsy systems, which help to mitigate complications post-biopsy. The use of robotics in biopsies is meant to enhance the precision and accuracy of the process, and the approval of such devices by medical authorities is making the process more efficient. For instance, in July 2022, the Food and Drug Administration (FDA) gave approval to platforms developed by Siemens Healthineers and Intuitive for a robot-assisted platform designed for less invasive lung biopsies. This integration would permit both 2D and 3D imaging during the procedures.

Which growth-oriented segments of the biopsy devices market are leading the industry's development?
The biopsy devices market covered in this report is segmented -

1) By Product Type: Needle-Based Biopsy Guns, Biopsy Forceps, Biopsy Guidance Systems, Biopsy Needles, Other Products
2) By Image Guiding Technology: MRI-Guided Biopsy, Stereotactic-Guided Biopsy, Ultrasound-Guided Biopsy, Other Imaging Technologies
3) By Application: Breast Biopsy, Gynecological Biopsy, Prostate Biopsy, Blood Cancers Biopsy, Skin Biopsy, Kidney Biopsy, Gastroenterology Biopsy, Other Applications
4) By End User: Diagnostics And Imaging Centers, Hospitals, Other End User

Subsegments:
1) By Needle-Based Biopsy Guns: Spring-Loaded Biopsy Guns, Vacuum-Assisted Biopsy Guns
2) By Biopsy Forceps: Endoscopic Biopsy Forceps, Surgical Biopsy Forceps
3) By Biopsy Guidance Systems: Ultrasound-Guided Biopsy Systems, CT-Guided Biopsy Systems, MRI-Guided Biopsy Systems
4) By Biopsy Needles: Core Needles, Fine Needle Aspiration (FNA) Needles, Coaxial Needles
5) By Other Products: Biopsy Sutures, Biopsy Markers, Biopsy Storage Solutions

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What regions are leading the charge in the biopsy devices market?
North America was the largest region in the biopsy devices market in 2024. Asia-Pacific was the second largest region in the global biopsy devices market report share. The regions covered in the biopsy devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

What companies are at the forefront of innovation in the biopsy devices market?
Major companies operating in the biopsy devices market include Becton Dickinson and Company (BD), Hologic, Inc., Danaher Corporation, Boston Scientific Corporation, Olympus Corporation, Cook Medical, Medtronic Inc, Cardinal Health, Argon Medical Devices Inc., Fujifilm Holdings Corp, BMA Co. Ltd., Transmed (China) Co., LTD, HaploX Biotechnology, Gene+sLab, Lepu Medical Technology, CMR Naviscan Corporation, DDD Diagnostics, Philips Healthcare, Siemens Healthineers, Abbott Laboratories, Bangs Laboratories Inc, Roche Diagnostics, Cepheid, Devicor Medical Products, Braile Biomedica Ltd, B.Braun Medical Gulf, Stryker ESCS BV

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What Is Covered In The Biopsy Devices Global Market Report?

•Market Size Forecast: Examine the biopsy devices market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the biopsy devices market for a structured understanding.
•Key Players Overview: Analyze major players in the biopsy devices market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the biopsy devices market.
•Segment Contributions: Evaluate how different segments drive overall growth in the biopsy devices market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the biopsy devices market.
•Industry Challenges: Identify potential risks and obstacles affecting the biopsy devices market.
•Competitive Landscape: Review strategic developments in the biopsy devices market, including expansions, agreements, and new product launches.

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