BANGALORE, India, Oct. 8, 2020
BANGALORE, India, Oct. 8, 2020 /PRNewswire/ -- According to the Latest Market Research Report "Biopsy Devices Market by Product (Needle-Based Biopsy Instruments, Biopsy Forceps, Localization Wires, and Other Products), Application (Breast Biopsy, Gastroenterology Biopsy, Prostate Biopsy, Liver Biopsy, Lung Biopsy, Kidney Biopsy, Gynecological Biopsy, and Others), Imaging Technology (MRI–guided Biopsy, Stereotactic–guided Biopsy, Ultrasound–guided Biopsy, CT scan, and Others), and End User (Diagnostic and Imaging Centers, Hospitals, and Others) and Region – Global Forecast to 2026", published on Valuates Reports.
The global Biopsy Devices Market size was valued at USD 2,728 Million in 2018 and is expected to reach USD 4,310 Million by 2026, registering a CAGR of 5.9% during the forecast period.
Major factors driving the growth of biopsy devices market size are significant increases in cancer incidence, such as breast, prostate, lung, and rapid developments in technology such as 3D optical biopsies, MRI-targeted ultrasound-guided biopsies.
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TRENDS INFLUENCING THE BIOPSY DEVICES MARKET SIZE
Increased understanding of chronic disease diagnosis promotes the need for integrated biopsy technologies, such as stereotactic-guided biopsy. This growing understanding and awareness is expected to increase the Biopsy Devices Market size.
The worldwide increase in cancer prevalence and the presence of untapped opportunities in emerging economies, especially in the Asia-Pacific region, as well as the improvement of healthcare infrastructure in these regions, are also expected to drive the Biopsy Devices Market size.
However, the market's growth is hampered by high prices for biopsy instruments and the restricted availability of trained practitioners in low-income countries.
BIOPSY DEVICES MARKET SHARE ANALYSIS
The needle-based biopsy instruments held the largest Biopsy Devices Market share in 2018. This is due to the rise in the number of breast cancers, gastrointestinal tract diseases, and soft tissue sarcomas.
In 2018, breast biopsy reported the highest revenue in the application segment and was expected to retain its dominance throughout the forecast period. This is due to a rise in the number of patients with breast cancer.
North America held the largest Biopsy Devices Market share in 2018 and is expected to maintain its dominance during the forecast period. This dominance is attributed to the large availability of qualified medical professionals, the availability of well-developed infrastructure facilities, and the presence of most key players in North America.
Due to its high population base, increase in disposable income, and an increase in patient sensitivity of disease screening, Asia-Pacific is projected to experience the highest growth rate over the forecast period. Moreover, the geriatric population's rise, which is highly susceptible to cancer, is a key contributor to the region's market growth.
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BIOPSY DEVICES MARKET SEGMENTATION
By Imaging Technology
By End User
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In 2019, the global Biopsy Forceps market size was USD 246.6 Million, and it is expected to reach USD 301.9 Million by the end of 2026, with a CAGR of 2.9% 2021-2026 during the forecast period.
In 2019, the global Prostate Biopsy Devices market size was USD 492.9 Million, and it is expected to reach USD 689.4 Million by the end of 2026, with a CAGR of 4.9% during 2021-2026.
In 2019, the global Breast Biopsy Devices market size was USD 457.4 Million, and it is expected to reach USD 719 Million by the end of 2026, with a CAGR of 6.6% during 2021-2026.
In 2019, the global Vacuum-assisted Biopsy Devices market size was USD 821.4 Million, and it is expected to reach USD 1257.3 Million by the end of 2026, with a CAGR of 6.2% during 2021-2026.
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