A biopsy can be described as a process in which a sample tissue is removed from the body for analyzing or discovering the presence, cause, or extent of a disease. The global biopsy devices market is expected to register a CAGR of 6.5% during the forecast period (2018 - 2023).
Cancer prevalence indicates the number of people who were diagnosed with cancer in their lifetime. Prevalence is determined by the repetition of occurrence of cancer and the life expectancy of the patient after diagnosis. The key facts stated by WHO projects cancer to be one of the leading causes of mortality worldwide, with around 14 million new cases and 8.2 million cancer-related deaths in 2012. The number of new cases is expected to rise by 70% in the next two decades. The demand for early detection of the cancer is going to influence the growth of the biopsy devices market in the world over.
Increasing preference for minimally-invasive surgeries and initiatives undertaken by the government and global health organizations, are some of the other factors contributing to the growth of the market.
A biopsy is often the key to diagnosis. However, as some of these devices are being re-used, biopsy needle becomes a highly risky source of infection and micro-organisms get inoculated into the body. The needles used for biopsy can never be effectively cleaned or sterilized, and reuse of it can cause the spread of blood borne pathogens, like Hepatitis-B, Hepatitis-C, and HIV, as well as other micro-organisms like atypical mycobacteria, gram negative bacteria, and various fungi infections.
Additionally, increasing product recalls, due to unmet regulations, is also restraining the global biopsy devices market growth.
The global biopsy devices market is segmented by product, application and geography. By geography, it is segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
The growth of Asia-Pacific can be attributed to the rising prevalence of cancer, large population in countries such as China and India, improving healthcare infrastructure, increasing healthcare spending and government initiatives, and rising focus of key market players in the region.
August 2017: C. R. Bard Receives FDA pPremarket approval of the LUTONIX® 035 drug coated balloon as the first and only DCB for the treatment of patients with dysfunctional AV fistulae
August 2017: Hologic announced the availability of New Brevera® Breast Biopsy System, with CorLumina® Imaging Technology
Key Players: C R Bard, Hologic, Carefusion, Devicor Medical Products, Cook Medical, Boston Scientific, Intact Medical Corporation, Gallini Medical Devices, and TSK Laboratory