Breast Biopsy Devices Market worth $2.6 billion | MarketsandMarkets
08 Aug 2023
Acquisition
CHICAGO, Aug. 8, 2023 /PRNewswire/ -- In the near future, the breast biopsy devices industry is poised to witness remarkable advancements driven by innovative technologies and a growing emphasis on early detection and precise diagnosis of breast conditions. Rapid progress in imaging techniques, such as 3D mammography and molecular imaging, will catalyze the demand for minimally invasive and highly accurate biopsy devices. These devices will offer improved targeting capabilities, real-time imaging guidance, and enhanced tissue sampling methods, ultimately enhancing diagnostic accuracy and patient outcomes. Additionally, the integration of artificial intelligence and machine learning algorithms will further refine the biopsy process by providing predictive insights and aiding pathologists in analyzing tissue samples. As healthcare systems prioritize personalized medicine, the breast biopsy devices sector will play a pivotal role in revolutionizing breast health management through its convergence of cutting-edge technology and patient-centered care.
Breast Biopsy Devices Market in terms of revenue was estimated to be worth $1.6 billion in 2023 and is poised to reach $2.6 billion by 2028, growing at a CAGR of 10.0% from 2023 to 2028 according to a new report by MarketsandMarkets™.
The major factors driving the growth of this market include the growing prevalent cases of breast cancer, the increasing number of breast cancer screening programs, the growing demand for minimally invasive and non-invasive procedures, and the improved reimbursement scenario.
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Breast Biopsy Devices Market
Scope:
Type segment to register significant growth rate over the forecast period of 2023-2028.
Based on the type, the global breast biopsy devices market is segmented into biopsy needles, guidance systems, localization wires, assay kits, liquid biopsy instruments, biopsy tables, and other devices. The assay kits segment is expected to grow at the highest CAGR during the forecast period. In 2022, the biopsy needle segment accounted for the highest breast biopsy devices market share.
Procedure segment to register significant growth rate over the forecast period of 2023-2028.
Based on the procedure, the breast biopsy devices market is segmented into needle open surgical breast biopsy, breast biopsy, and liquid breast. The liquid breast biopsy segment is anticipated to register the highest growth rate over the forecast period. However, the needle breast biopsy segment accounted for the highest market share in the breast biopsy devices market in 2022.
The early cancer screening segment accounted for the largest share of the breast biopsy market by application in 2022.
Based on application, the market is segmented into early cancer screening, therapy selection, treatment monitoring, and recurrence monitoring. Early cancer screening accounted for the largest share of the market in 2022. However, the therapy selection segment is expected to grow at the highest CAGR during the forecast period.
Factors such as the rising occurrence of breast cancer cases, growing awareness of breast cancer, and supportive government initiatives for breast cancer care and treatment are expected to influence the demand for breast biopsy devices.
The hospital and clinics segment accounted for the largest share of the breast biopsy devices market, by end-user, in 2022.
Based on the end user, the breast biopsy devices market is segmented into hospitals & surgical centers, breast care centers, and imaging clinics & diagnostic centers. The hospitals & surgical centers segment accounts for the largest share of the market in 2022. Factors attributing to the increasing number of breast diagnostic procedures performed in hospitals, the growing inclination of hospitals toward automation and digitization of radiology patient workflow, and the rising adoption of technologically advanced systems in hospitals to improve patient care quality are driving this segment's growth.
The North American market is to register significant growth in the market during the forecast period.
The North American breast biopsy devices market is estimated to grow significantly from 2023 to 2028. factors such as ongoing technological advancements, rising breast cancer incidence rates, favorable reimbursement scenarios, and new breast density notification laws drive market growth in North America. This region has a rise in healthcare investment and expenditure, offering significant growth opportunities for the key players.
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Breast Biopsy Devices Market
Dynamics:
Drivers:
Increasing number of breast cancer screening programs
Restraints:
Risk of infections associated with the use of biopsy needles
Opportunities:
Emergence of liquid biopsy and promising clinical trials
Challenges:
Underdeveloped Healthcare Infrastructure and Dearth of Resources in Developing Countries
Key Market Players:
As of 2022, prominent players in the breast biopsy devices market are Hologic Inc. (US), Danaher Corporation (US), Argon Medical Devices (US), Medtronic (IRL), Merit Medical Systems (US), Menarini-Silicon Biosystems (ITL), Varian Medical Systems, Inc. (Germany), Planmed Oy (Finland), Sterylab S.R.L (Italy), Biocept, Inc. (US), Bio-Rad Laboratories, Inc. (US), F. Hoffmann-La Roche Ltd (Switzerland), Qiagen (Germany) and Exact Sciences Corporation (US).
Recent Developments:
Hologic, Inc, an innovative medical technology company primarily focused on improving women's health, announced today that it has completed the purchase of SOMATEX Medical Technologies GmbH; the deal size is $64 million.
In 2022 Danaher Corporation launched Mammotome Revolve EX Dual Vacuum-Assisted Breast Biopsy System, the first vacuum-assisted biopsy device designed specifically for the excision of benign breast lesions and is twice as fast as traditional vacuum-assisted breast biopsy systems.
Argon Medical Devices announced the launch of the SuperCore advantage semi-automatic biopsy instrument's newest addition to its soft tissue biopsy product portfolio in the united states. The next-generation soft tissue biopsy instrument provides a superior volume of tissue samples. Collecting more tissue volume may increase the likelihood of an accurate diagnosis.
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Breast Biopsy Devices Market Advantages:
Early Detection: Breast biopsy devices enable the early detection of suspicious lesions or abnormalities in breast tissue, allowing for prompt diagnosis and intervention.
Minimally Invasive: These devices offer minimally invasive alternatives to surgical biopsies, reducing patient discomfort, scarring, and recovery time.
Precision Targeting: Advanced imaging technologies incorporated in these devices allow for precise targeting of the specific area of concern, ensuring accurate tissue sampling.
Reduced Procedure Time: Modern biopsy devices streamline procedures, leading to shorter procedural times, increased patient throughput, and efficient resource utilization for healthcare facilities.
Improved Patient Experience: Minimally invasive procedures and shorter recovery periods contribute to a better patient experience and higher patient satisfaction rates.
Cost-Effectiveness: Minimally invasive biopsies with these devices often lead to reduced healthcare costs compared to surgical alternatives, as they require fewer resources and less hospitalization time.
Real-Time Imaging Guidance: Integration of real-time imaging guidance enhances the accuracy of tissue sampling and reduces the likelihood of inconclusive results.
Diagnostic Accuracy: The use of advanced technologies, such as molecular imaging and artificial intelligence, enhances diagnostic accuracy, reducing the need for multiple procedures and interventions.
Customized Treatment Plans: Accurate biopsy results enable healthcare professionals to create personalized treatment plans, optimizing patient care and outcomes.
Research and Development: The ongoing innovation in breast biopsy device technology fuels research and development efforts, contributing to continuous improvements in diagnostic capabilities.
Reduced Anxiety: Early and accurate diagnosis through these devices can alleviate patient anxiety by providing a clear understanding of their condition and appropriate treatment pathways.
Screening Programs: Breast biopsy devices play a crucial role in supporting breast cancer screening programs, enabling efficient follow-up on suspicious findings from mammograms.
Healthcare Resource Optimization: By reducing unnecessary surgeries and interventions, these devices help optimize the allocation of healthcare resources.
Enhanced Medical Training: Modern biopsy devices are often integrated with training features, enabling medical professionals to acquire and enhance their skills in using these devices effectively.
Global Impact: The widespread availability and adoption of breast biopsy devices contribute to improving breast healthcare on a global scale, especially in regions with limited access to specialized medical facilities.
These advantages collectively underscore the significant role that breast biopsy devices play in improving patient care, enhancing diagnostic capabilities, and shaping the future of breast health management.
Related Reports:
Breast Imaging Market - Global Forecasts to 2028
Aspiration Needles Market - Global Forecasts to 2027
Liquid Biopsy Market - Global Forecasts to 2027
Cancer Diagnostics Market - Global Forecasts to 2026
Womens Health Diagnostics Market - Global Forecasts to 2025
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