Expanding Diagnostic Value of Biopsies in Cancer Propels Technological Advances in Needle Biopsy Market, Valuation to Expand at CAGR of 7% during 2020-2030: TMR

Expanding Diagnostic Value of Biopsies in Cancer Propels Technological Advances in Needle Biopsy Market, Valuation to Expand at CAGR of 7% during 2020-2030: TMR

PR Newswire

ALBANY, N.Y., Nov. 2, 2020

- Advances in imaging modalities have led to increased visibility of biopsy needles, thereby improving the accuracy of diagnosis and marked prevalence of cancer makes North America and Europe notably lucrative markets

- Needle biopsy market to clock CAGR of 7% during 2020–2030, Technological advances help surgeons access array of anatomical structures

ALBANY, N.Y., Nov. 2, 2020 /PRNewswire/ -- Rise in demand for needle biopsy in minimally invasive interventional medical procedures has gained traction in healthcare industry for diagnosing prostate, skin, and breast cancer. All these cancer have a high incidence in men.

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In particular, the use of various technologies in needle biopsies has aided in the diagnosis and treatment of breast cancer patients. Recent innovations relate to improving the visibility and accuracy, such as minimizing the needle deflection.

The global needle biopsy market was pegged at ~US$ 630 Mn in 2019 and reach worth of US$ 1.2 Bn by the end of 2030.

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Growing global health and economic burden of cancer has propelled technological advances in the needle biopsy market.

Key Findings of Needle Biopsy Market Report

Explore 193 pages of top-notch research, incisive insights, and detailed country-level projections on Needle Biopsy Market (Type: Fine-needle Aspiration Biopsy and Core Needle Biopsy; Application: Breast Cancer, Thyroid Cancer, Prostate Cancer, Liver Cancer, and Others; and End User: Hospital, Diagnostics & Imaging Centers, Research Laboratories & Academic Institutes, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030 at https://www.transparencymarketresearch.com/report-toc/79263

Needle Biopsy Market: Key Driving Factors and Promising Avenues

Interventional medical procedures that need needle biopsies have grown in healthcare applications. Several demographic and healthcare trends propel growth, some of which are detailed below:

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Needle Biopsy Market: Regional Assessment

The high cancer mortality in the U.S. has spurred the demand for new technologies in fine-needle aspiration used in biopsies. This is one of the factors propelling North America on a high growth trajectory. In 2019, the regional market held the major share in the global needle biopsy market. The presence of favorable reimbursement policies has spurred the demand.

Europe has also been a promising market, fueled increasingly by the adoption of advanced healthcare equipment used in cancer management.

Asia Pacific market is expected to expand at a promising pace during the forecast period of 2020 – 2030.

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Key Impediments to Needle Biopsy Market Stakeholders

The demand in the needle biopsy market has been impeded heavily by the growing traction of lesser invasive methods. A notable case in point is the rising clinical avenue for liquid biopsies. Recent clinical trials have shifted toward testing alternative, minimally invasive technologies.

Nevertheless, manufacturers in the needle biopsy market are leaning on making substantial improvements in physical and functional parameters, which will expand the avenue in coming years.

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The Needle Biopsy Market has been segmented as follows:

Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:

Cancer Diagnostics Market: According to the report, the global cancer diagnostics market was valued at US$ 146.2 Bn in 2018 and is anticipated to expand at a CAGR of 8.8% from 2019 to 2027, increasing trend for preventive diagnosis due to escalating prevalence continues, early diagnosis enables better clinical and economical outcomes for patients are projected to drive the market

Women's Health Diagnostics Market: Healthcare companies in the women's health diagnostics market are tapping into opportunities in diagnostic laboratory testing and infectious disease testing, as both the segments are anticipated to grow rapidly during the forecast period. Growing prevalence of infections causing miscarriage and birth defects in infants are fueling the demand for efficacious treatment options in women's health diagnostics.

Urology Devices Market: The global urology devices market is driven by high prevalence and rapid increase in incidence of urology disorder associated with the urinary tract system (UTS) across the globe. The global market was valued at US$ 31.4 Bn in 2017 and is projected to reach US$ 58.3 Bn by 2026, expanding at a CAGR of 7.1% from 2018 to 2026.

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