The global biopsy devices market is poised to reach $12.6 billion by 2028, growing at a CAGR of 14.0%
The global biopsy devices market is on a trajectory of remarkable growth, projected to reach USD 12.6 billion by 2028 from USD 6.6 billion in 2023, with a notable CAGR of 14.0% from 2023 to 2028. This substantial growth is driven by advancements in medical technology, resulting in the creation of increasingly accurate and less invasive biopsy instruments. These innovations mitigate patient discomfort and expedite recovery periods, making them pivotal in the field of diagnostics.
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Needle Based Biopsy Instruments: A Growing Segment
The market is segmented into Needle Based Biopsy Instruments, Localization Wire, Procedure Tray, Biopsy Table, and other biopsy products. Among these, the Needle Based Biopsy Instruments segment is anticipated to register the highest growth rate over the forecast period.
Breast Biopsy: A Leading Application
In terms of applications, the breast biopsy segment is expected to register significant growth over the forecast period. Biopsy devices are vital tools used to extract tissue samples for diagnostic purposes. They are utilized by various healthcare professionals and organizations, including physicians, surgeons, and medical practitioners. The breast biopsy segment, in particular, is anticipated to witness substantial growth.
Hospitals and Breast Care Centers: Key End Users
The hospitals and breast care centers segment accounted for the largest share of the biopsy devices market in 2022. As cancer awareness and screening programs expand, more patients are seeking diagnostic services in hospitals and specialized breast care centers. Advancements in imaging technologies and screening techniques have led to an increased demand for biopsy procedures in these settings to confirm diagnoses and plan personalized treatment strategies.
Asia Pacific: A Region of Significant Growth
The Asia Pacific biopsy devices market is poised to register significant growth from 2023 to 2028. Factors such as the increasing patient population, rising geriatric population, rapid economic growth, and increasing disposable income are driving market growth in APAC countries. The region is witnessing a rise in healthcare investment and expenditure, offering significant growth opportunities for key players.
Prominent players in the biopsy devices market include Becton, Dickinson and Company (U.S.), Devicor Medical Products, Inc. (Leica Biosystems) (Germany), B. Braun Melsungen AG (Germany), Cardinal Health, Inc. (U.S.), and Hologic, Inc. (US).
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The biopsy devices market plays a crucial role in modern diagnostics, offering accurate and minimally invasive solutions for tissue sampling. With advancements in technology and growing awareness about cancer screening and early detection, the demand for biopsy devices is expected to rise significantly. Key players in the industry are actively investing in innovation and expansion, ensuring the continuous evolution of biopsy devices to meet the changing needs of healthcare providers and patients worldwide.
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