Bone Biopsy Market Rising Prevalence of Cancer Drives the Growth of the Global Industry by 2023

Bone biopsy is performed to diagnose various bone disorders such as bone cancer, bone infection, osteoporosis and chronic kidney disease. Nowadays, biopsy procedure has received great importance in oncology as one of the promising methods in cancer diagnostics. The demand for needle biopsy is found to be increasing from last few years.

Increasing prevalence of chronic diseases such as Chronic Kidney Disease (CKD) and demand new diagnostic services drives the market growth. Additionally, increasing research and development activities, technological advancements to identify the causes and risk factors associated with osteopenia and osteoporosis also fuel the market growth of global market.

The global Bone biopsy market is expected to grow at a CAGR of 5.7% during the forecast period.

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Major Players in the Market

Some of the key players in the global market are C R Bard (U.S.), Becton, Dickinson and Company (U.S.), B. Braun Melsungen AG, Hologic, Inc. (U.S.), Cook Medical (U.S.), Devicor Medical Products Inc. (U.S.), Argon Medical Inc. (U.S.), and others

Regional Analysis

America is the largest market for bone biopsy owing to the rising prevalence of bone cancer and osteoporosis along with other bone disorders, extensive use of diagnostic services in hospitals & surgical centers and increasing importance of early diagnosis of bone cancer. As per the International Osteoporosis Foundation, over 2 million American men have osteoporosis. In women, bone loss can begin at as early as 25 years of age. Most of the American healthcare providers recommend building strong bones before the age of 30, as a best preventive measure for osteoporosis. Additionally, growing emphasis on healthy lifestyle and importance of exercise for good health boost the market growth. According to the Centers for Disease Control and Prevention (2015) in the U.S., 4.9 million adults were diagnosed with kidney disease. Similarly, according to the U.S. National Kidney Foundation (2015), more than 660,000 Americans were treated for kidney failure also called end stage renal disease (ESRD).

Europe is the second largest market owing to the prevalence of osteoporosis, increasing demand for needle bone biopsy devices and innovative healthcare solutions. Additionally, changing population demographics is projected to the affect prevalence of osteoporosis in the European Union (EU).

The market in Asia Pacific is expected to grow rapidly owing to the rising prevalence of osteoporosis in women after menopause. Moreover, women healthcare is gaining roots in Asian countries owing rising prevalence of diseases in women such as osteoporosis, obesity, and diabetes. Japan is the largest market for bone biopsy in Asia Pacific owing to the flourishing growth of healthcare industry and presence of key players in the market.

The Middle East & Africa also show a steady rise in the market owing to comparatively lesser demand for bone biopsy than the developed nations and high emphasis on primary care services. In the Middle East, the market is driven by increasing demand for specialty care services.

Segmentation

The global bone biopsy market is segmented on the basis of type, indication and end user.

On the basis of the component, market is segmented into needle biopsy and open biopsy.

On the basis of the application, the market is segmented into bone cancer, bone infection, chronic kidney disease, osteoporosis, and others

On the basis of the end user, the market is segmented into hospital & clinics, surgical centers, diagnostic centers, and others.

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Rising prevalence of cancer and increasing demand for new diagnostic procedures are the major factors driving the growth of the market across the globe. Furthermore, increasing healthcare expenditure and overall growth of healthcare industry also influence the market growth. Splendid research in the field of oncology also boost the market. However, low patient awareness about chronic kidney disease and importance of early diagnosis among the people may restrain the market growth.

According to the World Health Organisation (WHO), cancer was the leading cause of the total number of deaths globally as of 2015 and was responsible for 8.8 million deaths. The most common causal agents identified are cigarettes, cigars, pipes and chewing tobacco. According to the Cancer Research U.K, looking at the lifestyle factors responsible, it has been found that out of 3 diagnosed cases, 1 may be linked to smoking.

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