Europe Biopsy Devices Market Size

Europe Biopsy Devices Market Analysis

The Europe Biopsy Devices Market size is estimated at USD 599.20 million in 2024, and is expected to reach USD 733.23 million by 2029, growing at a CAGR of 4.12% during the forecast period (2024-2029).

During the COVID-19 pandemic, the biopsy device market was significantly impacted due to the decrease in the number of biopsy procedures as a result of the COVID-19 pandemic's restrictions. As per the study published in 2021 titled "Impact of the COVID-19 Pandemic on Surgical Oncology in Europe: Results of a European Survey", of all the hospital departments, 88.4% reported a lower volume of patients in the outpatient clinic; 69.1% and 75.0% reported a reduction in the hospital bed and the operating room capacity, respectively. As a result, the participants reported an average reduction of 29.3% for all types of oncological resections. Thus, the reduction in the number of surgical procedures during the COVID-19 pandemic negatively impacted the market's growth. However, during the post-pandemic period, the postponed surgeries resumed, which boosted the market's growth.

The major factors driving the growth of the market in the Europe region include increasing preference for minimally invasive procedures, an increase in the number of cancer cases, and initiatives undertaken by the government for early diagnosis of cancer. Biopsy has been one of the major diagnosis techniques for cancer disorders and is widely used in the diagnosis of breast, skin, and prostate cancer. As per the Globocan estimates of 2020, there were about 4.40 million new cancer cases in Europe in 2020 which is expected to increase and reach up to 5.32 million by 2040. Thus, the high cases of cancer are expected to increase the demand for biopsy devices which is expected to boost the growth of Europe biopsy devices over the forecast period.

There is also a demand for minimally invasive biopsy procedures that is rising at a significant rate in the market. The different types of technologies and products, such as biopsy guiding systems, needle-based biopsy guns, and vacuum-assisted devices are anticipated to witness high growth during the forecast period. In addition, the growing awareness regarding breast cancer treatment and diagnosis will support the increase in the biopsy devices market size in the upcoming years. Many countries hold programs for the early diagnosis of breast cancer. For instance, European Week Against Cancer (EWAC) takes place between 25 and 31 May each year and is concluded by World No Tobacco Day on 31 May. During EWAC cancer charities, European policy-makers and the general public engage in various activities connected to raising awareness about cancer prevention, access to treatment, and support for patients and cancer survivors. Therefore, such initiatives are expected to accelerate the adoption rate of biopsy devices, thereby positively impacting the growth of the biopsy devices business in the foreseeable future.

Thus, owing to the above-mentioned factors the market is expected to show significant growth over the forecast period. However, product recall and availability of alternative techniques is expceted to hinder the growth of the market over the forecast period.