What are the major factors driving the growth of the biopsy devices market?

In the year 2025, the industry size of biopsy devices is assessed at USD 2.76 billion. Read More

What would be the CAGR of biopsy devices Market over the forecast period?

Biopsy Devices Market size was valued at USD 2.61 billion in 2024 and is likely to cross USD 6.21 billion by 2037, registering more than 6.9% CAGR during the forecast period i.e., between 2025-2037.. Read More

Biopsy Devices Market Trends

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 6^th 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.

Biopsy Devices Market: Key Insights

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.Based on product type, the 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.

Base Year	2024
Forecast Year	2025-2037
CAGR	6.9%
Base Year Market Size (2024)	USD 2.61 billion
Forecast Year Market Size (2037)	USD 6.21 billion
Regional Scope	North America (U.S., and Canada) Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific) Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Latin America (Mexico, Argentina, Brazil, Rest of Latin America) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Who are the top biopsy devices companies?

The major players in the market are ARGON MEDICAL, INRAD, Inc., Cook Group, Medtronic, FUJIFILM Holdings America Corporation, Cardinal Health, Boston Scientific Corporation, Becton, Dickinson and Company, B. Braun Melsungen AG, Olympus Corporation, and others.

Biopsy Devices Market Trends