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Biopsy Devices Market worth $12.6 billion by 2028

The global biopsy devices market is poised to reach $12.6 billion by 2028, growing at a CAGR of 14.0% from 2023 to 2028.

According to the latest report by MarketsandMarkets, the biopsy devices market by Product (Gun, Needle, Forcep, VAB, CNB, Liquid Biopsy, Localization wire), Application (Breast, Lung, Prostate) Guidance (Ultrasound, MRI, NGS, PCR), End User (Hospitals, Clinics) & Buying Criteria – Global Forecasts to 2028″, is projected to reach USD 12.6 billion by 2028 from USD 6.6 billion in 2023, at a CAGR of 14.0% from 2023 to 2028. The major factors driving the growth of this market include Progress in medical technology has resulted in the creation of increasingly accurate and less invasive biopsy instruments, thereby mitigating patient discomfort and expediting recovery periods.

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Technology segment to register significant growth rate over the forecast period of 2023-2028

Based on product, the global biopsy devices market is segmented into Needle Based Biopsy Instruments, Localization Wire, Procedure Tray, Biopsy Table and other biopsy products. The Needle Based Biopsy Instruments segment is anticipated to register the highest growth rate over the forecast period.

Breast Biopsy segment in application to register significant growth rate over the forecast period of 2023-2028

Based on end user, the global biopsy devices market is segmented into breast biopsy, bone marrow biopsy, lung, colorectal, kidney, prostate and others. Biopsy devices are medical tools used to extract a sample of tissue from a patient for diagnostic purposes. These devices are utilized by various healthcare professionals and organizations. Other end users may include healthcare professionals such as physicians, surgeons, and medical practitioners who perform biopsies as part of their clinical practice.The breast biopsy segment is anticipated to register the highest growth rate over the forecast period.

The hospitals and breast care centers segment accounted for the largest share of the biopsy devices market, by end user, in 2022

Based on end user, the multimodal market is segmented into hospitals and breast care centers, diagnostic imaging centres,  research and academia and other end users. The hospitals and breast care centers segment accounts for the largest share of the market in 2022. As cancer awareness and screening programs expand, more patients are seeking diagnostic services in hospitals and specialized breast care centers. Secondly, 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.

The Asia Pacific market to register a significant growth in the market during the forecast period

The Asia Pacific biopsy devices market is estimated to register a significant growth from 2023 to 2028. The increasing patient population, rising geriatric population, rapid economic growth and increasing disposable income are driving the market growth in APAC countries. This region is having a rise in healthcare investment and expenditure, offering significant growth opportunities for the key players.

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As of 2022, prominent players in the biopsy devices market are 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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