Breast Biopsy Device Market 2022 Opportunities, Segmentation, Assessment and Competitive Strategies by 2027
The recent study of reports and data suggests that the Breast Biopsy Device Market is expected to attain a market value of USD 1.51 Billion by 2027 the end the forecast frame registering a CAGR of 10.8%. Breast Biopsy refers to a diagnostic procedure to determine whether a small sample removed from the breast tissue is cancerous. It is regarded as the most effective methods for cancer diagnosis. It is found that about 70-80% of the biopsies are negative of cancer, but may diagnose conditions that are predispose to mammary carcinoma. Breast biopsy is recommended when a person is facing symptoms like a breast lump, sore breast, breast dimpling, peel appearance to breast and nipple discharge etc. The invasive surgical methods for breast biopsy has been found to be disadvantageous as it is painful and the patient will have to bear the psychological stress of false positive referrals.
The increasing vulnerability of women to mammary carcinoma in all the economies, along with the awareness drives and screenings conducted in favor of women have propelled the demand side of the breast biopsy market. The extensive and exhaustive research environment acts as an impetus to the market which has aided in evolving more accurate and minimally invasive methods for the early diagnosis of mammary carcinoma. The governments have also worked towards building a continuous and comprehensive environment for cancer research which has fueled the growth of these diagnostic devices. Also favorable reimbursements in this regard has improved the state of this market drastically. The growth of these diagnostic devices are impeded by the prevalence of side effects and infections after the biopsy. Stringent regulations by the USFDA and other notifying authorities along with high cost of these services have worked against the unrestricted growth of the market.
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Further Key Finding from the report
- The mammary carcinoma is found to be the most common invasive cancer among women and affects women in both developed and developing countries. Hence the target consumers for breast biopsy is women above the age of 40. The growing awareness of breast cancer has fueled the demand for this market
- The American Cancer society has confirmed that there has been a decline in deaths caused by breast cancer reason being that cancer have been detected earlier through mammography, making it the most effective screening method
- Thermography was popularized as it was a method to produce infrared images of head and blood flow near the surface of the body, but it was found that it lacked the ability to detect cancer at the early stage
- Advancements and innovations are carried out in the product segment. Stryker, an innovator in the given field have brought in PreciseCore needles which have been used for improved precision and minimal tissue damage.
- Asia-Pacific regional segment of the breast biopsy market is expected to remain highest growing segment during 2019-2026, at a CAGR of 12.1%; owing it to increase in medical awareness and untapped opportunities in India and China due to rising pool of vulnerable geriatric women with awareness about mammary carcinoma. However, conventional methods like surgery and needle rule the market.
- Currently the vacuum assisted breast biopsy has dominated over the market and is the fastest growing segment as it overcomes the drawbacks of the conventional needle based methods which is inherently characterized with inaccuracy. It is growing at a CAGR of 10.9%.
Competitive Outlook of the Global Breast Biopsy Device Market
The globla Breast Biopsy Device market study focuses on the revenue growth trajectories of the leading companies in this market. This section of the report throws light on the highly competitive landscape of the Breast Biopsy Device market, pointing out the major players. The report further discusses the strategic initiatives undertaken by each of these market players, including mergers & acquisitions, collaborations, joint ventures, new product launches, new business deals, and technological innovations.
Top Companies Profiled in the Report:
Becton, Dickinson and Company, C.R. Bard, Inc., Devicor Medical Products Inc., Hologic Inc., Argon Medical Devices, Cook Medical Incorporated, Encapsule Medical Devices LLC, Planmed OY, and Ethicon Endo Surgery (Johnson and Johnson).
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The report is inclusive of product type outlook, application spectrum, end-use outlook, technology landscape, regional market analysis, and competitive overview.
Breast Biopsy Device Market Segmentation:
Product Outlook (Revenue, USD Million; 2017-2027)
- Biopsy Needles
- Biopsy Tables
- Guidance Systems
- Localization Wires
Guidance Type Outlook (Revenue, USD Million; 2017-2027)
- CT scan
End-Use Outlook (Revenue, USD Million; 2017-2027)
- Diagnostic Clinic
Geographic Segment Covered in the Report:
The Breast Biopsy Device report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
- North America (USA and Canada)
- Europe (UK, Germany, France and the rest of Europe)
- Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
- Latin America (Brazil, Mexico, and the rest of Latin America)
- Middle East and Africa (GCC and rest of the Middle East and Africa)
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