LeapZipBlog: Shrikant Gadewar's blog: Breast Biopsy Market is Exclusively Growing at a Static CAGR During Forecast 2018-2023

Breast Biopsy Market is Exclusively Growing at a Static CAGR During Forecast 2018-2023

February 25, 2020 by Shrikant Gadewar  

Breast Biopsy Market Size, Share, Growth Analysis, Trends: By Product (Biopsy Needles, Biopsy Tables), Technique Type (Fine Needle Aspiration Biopsy, Core Needle Biopsy), Guidance Technology (Ultrasound-Guided, CT-Guided Biopsy), End-Users (Hospitals, Labs) –Global Forecast Till 2023

Market Overview:

A biopsy is a small operation that is used to perform the removal of tissues from an area of concern from the body. Breast biopsy is a medical procedure that involves the testing of small samples of breast tissues for the detection of breast cancer. This form of biopsy is conducted with the help of minimally invasive biopsy systems due to minimal pain and disfigurement. There are various types of biopsy procedures that are used depending upon the different techniques like vacuum-assisted biopsy (VAB), core needle biopsy (CNB), and fine needle aspiration biopsy (FNAB). These are recommended by the doctor based on the size, location, and other characteristics of the breast abnormality.

The global Breast Biopsy Market is expected to expand in significant fashion during the forecast period of 2018 to 2023.The increasing prevalence of breast cancer, especially for women above 35 years of age during menopause, who are more susceptible to breast cancer, and rising awareness concerning breast cancer screening programs are the major drivers of the market. However, there are various constraints limiting the market growth as well. This includes the infection risks associated with breast biopsy procedures, unspecified regulatory issues, and ambiguous reimbursement policies. In addition to these, the market growth is also restricted due to the high cost of surgical procedures and the risks associated with them. At the same time, the emergence of technologically-advanced and the usage of breast biopsy devices that are minimally invasive are expected to tap into the potential opportunities that the market holds.

Competitive Landscape

·         Cook Medical Incorporated

·         Dickinson and Company

·         NuVue Therapeutics

·         Argon Medical Devices

·         Johnson & Johnson

·         Encapsule Medical Devices LLC

·         Leica Biosystems

·         C.R. Bard Inc

·         Argon Medical Devices

·         Hologic Inc

·         Devicor Medical Products Inc

·         Becton

·         Hologic Inc

Market Segmentation

·         The global breast biopsy market segmentation is done as per technique type, product, guidance technology, and end-user.

·         By product, the market includes biopsy tables, guidance systems, biopsy needles, biopsy wires, and others.

·         By technique type, the market includes core needle biopsy, fine needle aspiration biopsy, wire localization, MRI-guided core needle biopsy, biopsy markers, surgical biopsy, and sentinel node biopsy.

·         By guidance technology, the market includes CT-guided biopsy, ultrasound-guided, mammography-guided magnetic resonance, and various other image-guided breast biopsy (PET and thermography).

·         By end-user, the market comprises of ambulatory surgical centers, hospitals, diagnostic centers, and others.

Regional Analysis

The geographical breast biopsy market segmentation covers four major regions, namely North America, Asia-Pacific, Europe, and the Middle East & Africa.

North America is anticipated to hold the largest market share over the forecast period as per the market report published by MRFR. This is primarily due to the early adoption of advanced medical technologies and a continued emphasis on the development from companies operating in cancer diagnostics. The Europe market holds the second-largest share of the breast biopsy market due to the striking prevalence of breast cancer in the UK and Belgium. Both North America and Europe comprise more than 50% of the of the global breast biopsy market share.

The regional market of Asia-Pacific is also slated to experience a period of growth in the forthcoming years. This is because of the demand for advanced technology, better rate of adoption of such technologies, access to optimal treatment facilities, increasing favorable initiatives undertaken by the government, and rising healthcare expenditure.

Lastly, the Middle East & Africa region is expected to garner the least market growth due to the presence of an underdeveloped healthcare industry, poor medical facilities, and lack of technical proficiency and knowledge concerning the operation.

October 30th, 2019, a team from ETH Zurich with support from the Swiss National Science Foundation developed a new ultrasound method to help differentiate benign breast tumors from the malignant ones. The clinical trials have proven to show great promise in the detection of breast cancer and can be revolutionary in the medical segment for detecting breast cancer.