Breast Biopsy Device Market To Reach $911.2 Million By 2024
The breast biopsy device market is
expected to reach USD 911.2 million by
2024, according to a new report by Grand View Research, Inc. The Breast
biopsy device market is projected to grow at a productive rate in the next few
years. The key factors supporting the industry’s growth involve the rising
awareness levels with regard to diagnostic procedures through cancer screening
programs, global rise in breast cancers in women, and the high demand for
less-invasive procedures. However, the degree of risk is directly proportional
to the extent of procedure invasiveness. Biopsy causes pain and is a stressful
procedure for patients, moreover, approximately 60% to 80% of breast biopsies
in women result in a benign judgment. Therefore, women are encouraged to
consult experts for a second opinion before undergoing a biopsy procedure,
which is likely to hinder the growth of the market.
With Covid-19
infections rising globally, the apprehension regarding a shortage of essential
life-saving devices and other essential medical supplies in order to prevent
the spread of this pandemic and provide optimum care to the infected also
widens. In addition, till a pharmacological treatment is developed, ventilators
act as a vital treatment preference for the COVID-19 patients, who may require
critical care. Moreover, there is an urgent need for a rapid acceleration in
the manufacturing process for a wide range of test-kits (antibody tests,
self-administered, and others). The report will account for Covid19 as a key
market contributor.
The test type segment is categorized into needle breast
biopsies and open surgical biopsies. The former is further segmented into
fine-needle aspiration, core-needle, and vacuum-assisted core biopsy. The fine-needle
aspiration segment is estimated to hold the largest share for the year 2015
whereas the vacuum-assisted core biopsy segment is anticipated to witness a
lucrative growth during the study period. The open surgical biopsy industry is
sub-segmented into Incisional biopsy and Excisional biopsy.
On the basis of products, the industry is categorized into
needles, tables, localization wires, and guidance systems. Additionally, the
guidance systems segment of the industry is further categorized on the basis of
imaging systems, such as ultrasound, mammography, and magnetic resonance
imaging.
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Further key findings from the study suggest:
·
The Asia Pacific region is anticipated to
witness the highest growth rate, with a CAGR of around 12.6% during the
forecast period. The high frequencies of breast cancer prevailing in women as
well as the increase in awareness of cancer screening programs are the factors
fueling the market growth.
·
North America accounts for the largest
market share, followed by the European market. The heightened awareness about
breast cancer that advocate regular checkups and screening programs along with
the demand for accurate and minimally caustic procedures are factors that are
responsible for the rapid market growth.
·
The mammography-guided stereotactic segment
is estimated to hold the largest market share followed by the magnetic
resonance imaging-guided category. The rise in demand for rapid and precise
diagnostic imaging tools in determining the exact location of the tumor or lump
in the breast area is one of the major factors driving the growth of this
industry
·
On the basis of test type, the needle-based
biopsy segment accounts for the largest share; this is mainly due to the high
demand for minimally invasive procedures. On the other hand, the open surgical
biopsies have a probability to witness a decline in the market over the next
few years due to the relatively high invasiveness and the risks involved with
the procedure.
·
Some major players in this industry include
Becton, Dickenson and Company (BD),C.R Bard, Inc., Devicor medical, Inc., and
Hologic, Inc., among others.
The Breast Biopsy
Device Market size was estimated to be USD 372.9 million in 2015. It is a
diagnostic procedure that involves the removal of tissue or fluid from a
suspicious area. The test requires working with a guiding system, the purpose
of which is to locate a lump or abnormality in the breast region.
The different
modalities employed as guiding systems in the detection of breast tumors
include the ultrasound, mammography, and magnetic resonance imaging. The
ultrasound segment is anticipated to witness the fastest growth owing to the
rise in demand of non-radiation biopsies along with the increasing demand for
minimally invasive procedures. The increase in the frequency of breast cancers
in women globally, as well as the rise in cancer awareness screening programs
is some of the factors that are estimated to contribute to the market growth
over the forecast period.
Additionally, the
varying types of product enhancements, continually launched in the market are
further expected to have a positive impact on this industry during the forecast
period. For instance, C.R Bard’s Mission Truguide disposable coaxial biopsy
needles, made up of ultrathin walls, provide high efficiency and accuracy in
the acquisition of tissue samples.
However, the risks
involved in the procedures are likely to affect the Breast Biopsy Device Market
negatively. The degree of risk reflects on the invasiveness of the procedure
used. Surgical core procedures might be more accurate and effective but it
involves major risks. Moreover, approximately 60%to 80% of the biopsies
acquired are benign. Thus, women are encouraged to take a second opinion before
undergoing any such surgical procedures, which in turn is expected to
negatively affect the market growth.
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On the basis of type, this industry is
classified into needle breast and open surgical biopsies. The former is further
categorized into fine-needle aspiration, core-needle biopsy, and
vacuum-assisted core biopsy. The fine-needle aspiration segment is estimated to
account for the largest share in 2015 due mainly to a rise in the demand for
minimally invasive procedures. On the other hand, the vacuum-assisted core
biopsy is anticipated to grow at a high CAGR value during the forecast period
owing to the less-invasive nature of this technique, which involves making a
small incision through which the needle is inserted, followed by sample
acquisition using a vacuum-powered device.
Grand View Research has segmented the
global breast biopsy devices market on the basis of test type, guidance,
product:
Breast Biopsy Devices Market By Test Type
Outlook (Revenue, USD Million, 2013 - 2024)
·
Needle breast biopsies
·
Fine-needle aspiration
·
Core-needle aspiration
·
Vacuum-assisted core biopsy
·
Open surgical biopsies
·
Incisional breast biopsy
·
Excisional breast biopsy
Breast Biopsy Devices Market By Product
Outlook (Revenue, USD Million, 2013 - 2024)
·
Biopsy needles
·
Biopsy tables
·
Localization wires
·
Guidance systems
·
Others
Breast Biopsy Devices Market By Guidance
Type Outlook (Revenue, USD Million, 2013 - 2024)
·
Ultrasound-guided
·
Mammography-guided stereotactic
·
Magnetic resonance-guided
·
Others
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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