Biopsy Devices Market Trends

Growth Drivers

• Improved government expenditures: One of the main driving factors of the biopsy devices market is improved government expenditures and health insurance spending for diagnostic measures. For instance, in 2023, Medicare disbursement for these devices reached USD 1.3 billion, which is estimated to be USD 450 to USD 9300 per biopsy. Furthermore, the developing nations such as India and Brazil are focusing on expanded insurance coverage to accelerate market demand.
   
• Technological advancements: Another significant factor driving business in the market is the technological advancements in biopsy devices. For instance, in 2024, the U.S. FDA reported that Intuitive Surgical’s Ion platform increased efficacy by 40% with robotic biopsy systems. Besides, NIH in 2024 reported that Guardant Health and Freenome comprise an approved liquid biopsy test that grew at 18.4% CAGR, drawing interest from global manufacturers. Hence, this denotes a positive outlook for market growth.

Historical Patient Growth and Its Impact on Biopsy Device Market Expansion

The biopsy devices market is witnessing notable growth, remarkably influenced by the increasing burden of cancer cases and evolving diagnostic procedures over the last decade. Besides, there has been an increasing cancer screening and expanding medical access across diverse nations. Key trends shaping the industry landscape include increased investments by leading companies such as BD, Hologic, and Medtronic, and the development of vacuum-assisted, liquid biopsy, and AI-based systems, which reflect lucrative growth opportunities.

 Biopsy Procedures Growth 2010-2020

(Sources: WHO, NIH SEER, EU Cancer Registry, National Health Commissions of China & India)

Strategies Strengthening Market Positions in Biopsy Devices

Global manufacturers leveraging biopsy devices have opted for several strategies to strengthen their market positions across the world. Consequential trends emphasized by the players include exclusive product launches, such as Mammotome launched the DualCore Dual Stage Core Biopsy System, aiming to improve biopsy efficiency and accuracy. Besides, the favorable regulatory approvals, such as Limaca Medical, gained U.S FDA clearance for the Precision GI Endoscopic Ultrasound Biopsy Device, enabling an enhanced product portfolio. Additionally, collaborations and geographic expansions are anticipated to strengthen the market positions notably.

These strategies have significantly influenced the current market landscape:

Challenge

• Budget restraints in developing nations: Affordability is one of the major barriers restricting the growth in the biopsy devices market. Additionally, these costs are further exacerbated by operational costs for the maintenance of advanced biopsy devices. Due to this surge in costs in 2021, a study was conducted that found that the surgical skin biopsy equipment was available in only 25% of health facilities in emerging countries. These high expenses hinder the manufacturer's interest, especially from price-sensitive regions, and create health disparities among patients who are at heightened need.