Biopsy Guidance System Market Size, Growth Analysis to 2027
The global Biopsy Guidance System market gathered revenue around USD 932 Million in 2020 and market is set to grow USD 1,382.9 Million by the end of 2027 and is estimated to expand at a modest CAGR of 4.29% during the prediction period 2021 to 2027.
Growth Factors:
The market growing demand for non-invasive procedures, technological innovations, a rising number of government initiatives, and impact of COVID-19 are the key driving factors for the market.
A biopsy is one of the most prominent procedures for diagnosing cancer amongst other chronic diseases, and it is commonly employed in the diagnosis of breast, brain, skin, and prostate cancer. The increasing prevalence of cancer is a major factor responsible for market growth. For instance, according to Cancer.org, in 2021, around 1.9 million new cancer cases are expected to be diagnosed in the US. Since the biopsy guidance system is one of the major requirements for the initial diagnosis of cancer, thus, rising number of cancer cases is anticipated to propel market growth over the forecast period
Furthermore, there is a rising preference for minimally invasive biopsy treatments in the market. During the forecast period, several types of technologies and products including robot-assisted biopsy guidance systems, needle-based biopsy guns, and vacuum-assisted core biopsy systems, are expected to expand rapidly. For instance, in March 2021, IZI Medical Products, LLC launched Quick-Core Auto Biopsy System for soft tissue biopsy. It is a lightweight, completely automatic biopsy device and provides reliability, quality, and accuracy. Additionally, rising awareness of breast cancer treatment and diagnosis will further boost market growth over the forecast period.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Biopsy Guidance System market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Biopsy Guidance System market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
Report Coverage
| Report Scope | Details |
| Market Size | USD 1,382.9 Million by 2027 |
| Growth Rate | CAGR of 4.29% From 2021 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2021 to 2027 |
| Historic Data | 2017 to 2020 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Product, application, end-use and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | Becton, Dickinson and Company; Hologic, Inc.; Devicor Medical Products, Inc.; B. Braun Melsungen AG; ARGON MEDICAL; Boston Scientific Corporation; INRAD Inc.; Cook Medical; PLANMED OY. |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Biopsy Guidance System market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Regional analysis:
North America dominated the biopsy guidance systems market and accounted for the largest revenue share of 46.9% in 2020 and is expected to witness a considerable growth rate of 6.0% over the forecast period. North America accounted for the majority share due to continuous expansion in cancer diagnostic companies and the growing demand for innovative treatments. Government agencies, non-profit healthcare organizations, pharmaceutical, and biotech companies, and research institutes are investing substantially in medical and health-related research and development, which is also anticipated to fuel market growth.
In Asia Pacific, the market is anticipated to exhibit lucrative growth during the forecast period. Traditional biopsy techniques, such as core-needle biopsies and surgical biopsies, still dominate the cancer diagnostic market in Asian countries. A significant increase in the incidence of cancer is a key factor responsible for regional market growth. For instance, as per the American Cancer Society, Inc., in 2018, around 8.2 million cases of cancer and 5.2 million deaths were reported in Southern, Eastern, and South-Eastern Asia, conforming to about half of the cancer burden globally. A recent report published by National Cancer Registry Programme (NCRP) estimated that the number of cancer cases in India is projected to surge from 13.9 lakh in 2020 to 15.7 lakh by 2025. As a result of the rising number of cancer cases and advancements in biopsy guidance systems, the market is anticipated to expand over the forecast period.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Biopsy Guidance System Market include: Becton, Dickinson and Company; Hologic, Inc.; Devicor Medical Products, Inc.; B. Braun Melsungen AG; ARGON MEDICAL; Boston Scientific Corporation; INRAD Inc.; Cook Medical; PLANMED OY.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Biopsy Guidance System market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Biopsy Guidance System market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Biopsy Guidance System markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Biopsy Guidance System market Study:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers