The global biopsy devices market was valued at USD 2.25 billion in 2023 and is expected to grow at a CAGR of 7.2% from 2024 to 2030. This growth is primarily driven by several factors, including the rising prevalence of cancer worldwide. As cancer rates increase, the demand for early detection and diagnostic tools, including biopsy devices, is expected to rise significantly. Additionally, the growing emphasis on minimally invasive surgeries has spurred the adoption of biopsy procedures that involve less discomfort and quicker recovery times for patients, further driving market growth.

Another key factor contributing to the market's expansion is the presence of untapped opportunities in emerging economies, particularly in the Asia Pacific region. As these regions experience improvements in healthcare infrastructure and access to medical technologies, there is a growing demand for advanced diagnostic tools, including biopsy devices. This expansion into emerging markets presents significant growth potential for industry players.

In addition, government and healthcare bodies worldwide are taking proactive steps to reduce the high costs associated with cancer treatment. Many governments are prioritizing healthcare reforms that make cancer care more accessible and affordable, which in turn drives the need for efficient diagnostic tools like biopsy devices. Health organizations are also encouraging people to undergo regular diagnostic examinations through various awareness campaigns aimed at early cancer detection.

Gather more insights about the market drivers, restrains and growth of the Biopsy Devices Market

Regional Insights

The North America biopsy devices market dominated the global market in 2023, accounting for 43.1% of the total revenue share. This dominance can be attributed to the rising prevalence of cancer in the region, along with the continuous advancement of technologically sophisticated biopsy devices. For instance, in September 2023, the U.S. Food and Drug Administration (FDA) granted 510(k) clearance to Limaca Medical's Precision GI endoscopic ultrasound biopsy device. Such technological developments are expected to further boost market growth in North America, where the demand for accurate, minimally invasive diagnostic tools is continually increasing.

U.S. Biopsy Devices Market Trends

The U.S. biopsy devices market accounted for 34.6% of the global market share in 2023. According to the National Cancer Institute, approximately 2,001,140 new cases of cancer are expected to be diagnosed in the U.S. in 2024, driving the demand for biopsy devices. The rise in cancer prevalence, coupled with the U.S.'s strong healthcare infrastructure and a regulatory environment conducive to the development of advanced medical technologies, will likely fuel market growth. The presence of leading healthcare institutions, research facilities, and regulatory bodies such as the FDA further supports innovation and the availability of cutting-edge biopsy technologies in the country.

Europe Biopsy Devices Market Trends

In 2023, Europe emerged as a lucrative region for the biopsy device market. The growing number of cancer cases and the increasing need for advanced diagnostic and treatment technologies are key factors driving the demand for biopsy devices in this region. Cancer is the second leading cause of death in Europe, with over 3.7 million new diagnoses and 1.9 million deaths annually, according to the World Health Organization (WHO). This high cancer burden necessitates the development and adoption of advanced biopsy devices to enable early and accurate diagnosis.

UK

The UK biopsy devices market is expected to experience rapid growth in the coming years due to several factors, including the presence of major biopsy device manufacturers, rising public awareness regarding preventive healthcare, and national campaigns aimed at promoting early cancer detection. For example, the UK government runs campaigns like 'Be Clear on Cancer' (BCoC) and 'Help Us Help You' (HUHY), which encourage individuals to seek early diagnostic screening for various types of cancer. These initiatives are likely to drive increased adoption of biopsy devices in the region.

Asia Pacific Biopsy Devices Market Trends

The Asia Pacific biopsy devices market is anticipated to grow at the fastest CAGR over the forecast period. The growth is primarily attributed to the rising cancer incidence in the region, along with the growing demand for advanced diagnostic equipment to meet the increasing healthcare needs of the population. As economies like China and India continue to develop their healthcare infrastructure, there is a notable rise in demand for advanced diagnostic tools, including biopsy devices.

According to Global Cancer Statistics 2020, Asia accounted for half of all global cancer cases and 58.3% of cancer-related deaths, making the region a focal point for cancer treatment and diagnostic advancements. Governments in the region are launching initiatives such as awareness programs and screening campaigns to facilitate early cancer diagnosis and treatment, which are expected to drive further growth in the biopsy devices market.

India

In India, the biopsy device market is expected to grow significantly due to efforts from both public and private sectors to improve cancer diagnosis and treatment. The development of healthcare infrastructure is also a key driver. For instance, in July 2024, the MR Fusion Biopsy machine was installed at Sir H.N. Reliance Foundation Hospital in Maharashtra, India. This machine is the first of its kind in the state and is expected to enhance cancer care capabilities, contributing to the growth of the biopsy devices market in the country.

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Key Biopsy Devices Company Insights

The global biopsy devices market is characterized by the presence of several key players such as Cardinal Health Inc., Hologic, Inc., and Danaher Corporation, among others. These companies are actively involved in research and development (R&D) to create technologically advanced biopsy products that can improve the accuracy, efficiency, and comfort of biopsies, thereby maintaining a strong competitive position in the market.

For example, in August 2022, Devicor Medical Products, Inc. launched the Mammotome DualCore Dual Stage Core Biopsy System. This innovative system is designed to enhance biopsy accuracy and provide a better patient experience, which is expected to help the company expand its product portfolio and strengthen its market position.

• Cardinal Health Inc. is a global healthcare services and products company, primarily operating in the pharmaceutical and medical sectors. The company produces a range of minimally invasive biopsy devices, including fine needle core biopsy (FNCB) needles, bone marrow biopsy and aspiration needles, and Tissue Biopsy Kits.

• Hologic, Inc. is a global leader in the development and manufacture of medical imaging, diagnostic products, and surgical devices, including biopsy devices. The company has introduced advanced systems such as the Eviva Breast Biopsy system and the Brevera breast biopsy system to provide more accurate and efficient biopsy procedures, helping it maintain a competitive edge in the market.

Key Biopsy Devices Companies:

The following are the leading companies in the biopsy devices market. These companies collectively hold the largest market share and dictate industry trends.

• Cardinal Health Inc.

• Hologic, Inc.

• Danaher Corporation

• CONMED Corporation

• Cook Medical

• DTR Medical

• INRAD, Inc.

• Devicor Medical Products Inc.

• Gallini Srl

• TransMed7, LLC.

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