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Biopsy Devices Market size was over USD 2.44 billion in 2023 and is projected to reach USD 5.81 billion by 2036, growing at around 6.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of biopsy devices is assessed at USD 2.57 billion.
Increase in carcinogenic agents and particulates in food, air, the prevalence of cancer globally and the high mortality rates among the old people are some of the significant factors boosting the market growth. The availability of biopsy devices for identification of tumorsof cancer related ailments likelung carcinoma, skin cell carcinoma and other cancers is estimated to boost the market growth for the forecast period.
Growth Drivers
Prevalence of Cancers amid Ageing Population
World Health Organization reported that Cancer is the number 2 cause of death globally and estimated 9.6 million deaths in 2018.Moreover, it estimated that between 2015 and 2020, the proportion of world’s population over 60 years will nearly double from 12% to 22%. Production of biopsy devices for early identification of cancer will help in controlling the mortality rates. This factor is anticipated to have a significant positive influence on the growth of the market.
Overweight, Obesity and Work patterns
It was reported by IHME, that in 2017, 4.7 million deaths globally were caused by obesity and majority of the cases were reported in urban areas of the world where reduced activity and poor diets are attributed to accelerate the rise of it. Working hours and lifestyle patterns are leading to mental ill-health which is resulting in significant rise in cases of depression, stress, anxiety, eating disorders leading towards cigarettes, alcohol or drugs.
The WHO reports that 300,000 children aged 0 to 19 years are diagnosed with cancer every year.A study published by National Cancer Institute, U.S. Department of Health and Human Services, points out that Obesity & Overweight is predicted to increase the risk of cancerssuch asendometrial cancer, gastric cardia cancer, meningioma, colorectal cancer and others.The risk of Cancer in this population demography is estimated to drive the growth of biopsy devices market positively.
COVID’19 and its aftermath
WHO as of May 6th 2020, reported that the death toll among COVID-19 patients is high in cases where patients are suffering from various other illnesses like pneumonia, coronary heart diseases, cancers and others prior to COVID’19.The treatment for the patients suffering from cancers and later affected by COVID’19 involves the use of ventilators and biopsy devices. This results in healthcare professionals urging the governments to provide them the biopsy devices for proper treatment.
Challenges
High costs to Impact the Market Growth
A major factor that is estimated to affect the growth of the market is the high cost associated with biopsy devices, which makes them unaffordable for a large section of the society.
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Base Year |
2023 |
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Forecast Year |
2024–2036 |
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CAGR |
6.9% |
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Base Year Market Size (2023) |
USD 2.44 billion |
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Forecast Year Market Size (2036) |
USD 5.81 billion |
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Regional Scope |
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Based on product type, the biopsy devices market is bifurcated into needles, vacuum-assisted devices, syringes, forceps and others, out of which, the highest market share is estimated to be held by vacuum assisted devices. This can be attributed to the ease of operability and availability in the market. The market is further segmented by application into breast biopsy, lung biopsy and other cancer treatments. Additionally, the effectiveness of the devices in locating the tumor and removal with surgical precision is high, making them the most preferred devices by surgeons. This is another factor estimated to contribute to the growth of the market.
Our in-depth analysis of the global market includes the following segments:
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By Product Type |
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By Application |
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By Guidance |
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By End User |
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On the basis of regional analysis, the biopsy devices market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America industry is expected to account for largest revenue share by 2036, driven by presence of leading players in the region. which manufacture and market the biopsy devices. The prevalence ofobesity among all ages, andincreasing alcohol consumption and smoking among adults is which eventually leadsto cancers and related illnessesin this region, increases the demand for this product. The market in Asia Pacific region is predicted to grow at the highest rate during the forecast period as a result ofrising prevalence of cancer in countries such as India and China on account of ageing population, rising air pollution levels and related illnesses and need for early stage cancer detection.
Author Credits: Radhika Pawar
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