Biopsy Devices Market Is Anticipated To Reach $2.33 Billion By 2020: Grand View Research, Inc.
Global biopsy devices market is expected to reach USD
2.33 billion by 2020 and is expected to grow at a CAGR of 6.4%, according to a
new report by Grand View Research. Growing prevalence of several forms of
cancer and a considerable presence of unmet market demand for efficient and
accurate cancer diagnostic procedures, especially in resource limited settings
such as in emerging economies are expected to support future growth of the
industry.
According
to international cancer agencies, by 2030 the number of cancer incidences is
expected to reach over 23 million which is directly expected to affect the
number of required biopsies. Furthermore, growth in the global geriatric
population is also expected to contribute towards the growth for this market by
triggering incidence rates of target ailments and disorders.
U.S. biopsy devices market, by product, 2012 - 2020 (USD Million) |
Biopsy
guidance systems were observed to account for the largest share of revenue for
2013 owing to the technologically advanced and expensive nature of these systems.
High prices associated with this segment accounted for over 40% of the market
revenue and it is expected that the segment will maintain its position over the
forecast period.
However,
needle based biopsy guns are expected to provide the most lucrative avenues for
growth owing to the presence of growing market demand for minimally invasive
biopsy solutions especially for soft tissue biopsy related to breast, renal and
prostrate cancers.
Browse full
research report on Biopsy Devices Market: www.grandviewresearch.com/industry-analysis/biopsy-devices-industry
Further
key findings from the report suggest:
- North America accounted for over 60% of the
global revenue generated in the market in 2013 and is expected to maintain
this dominant position over the forecast period owing to the presence of
favorable government initiatives and a sophisticated healthcare
infrastructure.
- The European and North American markets
together accounted for over 70% of the global biopsy devices industry in
2013 due to a high degree of market penetration of biopsy guidance systems
and equipment. Furthermore, growing prevalence of cancer and need for its
early diagnosis is also a key factor accounting for the larger share of
these regions.
- Asia Pacific is expected to witness growth in
revenue at a faster CAGR over the forecast period owing to rapid
technological development in the healthcare segment of the region.
Moreover, presence of a high unmet market demand and a large population
base with respect to cancer is expected to drive demand in the region
throughput the forecast period.
- Key players of the biopsy devices market
include Cardinal Health Inc, Angiotech, C.R. Bard Inc, Carefusion
Corporation, DTR Medical, Devicor Medical Products Inc., INRAD, Inc., and
Hologic, Inc. Expected introduction of newer biopsy related devices such as
ProMag Ultra Automatic Biopsy Instrument, Breeze Vacuum Biopsy System, and
Affirm breast biopsy guidance system by companies such as Angiotech
Pharmaceuticals Inc., Cardinal Health Inc., and Hologic Inc. are also
expected to enhance the growth in this industry over the forecast period.
The market is expected to have considerable scope for development as there
is unmet market potential available for improvement of minimally invasive
and cost effective biopsy solutions.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the global biopsy devices market on the
basis of products and region:
Biopsy
Devices Product Outlook
- Needle-based
Biopsy Guns
- Vacuum-assisted
Biopsy (VAB) Devices
- Fine
Needle Aspiration Biopsy (FNAB) Devices
- Core
Needle Biopsy (CNB) devices
- Biopsy
Guidance Systems
- Manual
- Robotic
- Biopsy
Needles
- Disposable
- Reusable
- Biopsy
Forceps
- General
Biopsy Forceps
- Hot
Biopsy Forceps
- Others
- Brushes
- Curettes
- Punches
Biopsy
Devices Regional Outlook
- North
America
- Europe
- Asia
Pacific
- RoW
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Press Release By Grand View Research: www.grandviewresearch.com/press-release/biopsy-devices-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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