Northbrook, IL 60062 -- (SBWire) -- 09/28/2023 --Breast Biopsy Devices Market in terms of revenue was estimated to be worth $1.6 billion in 2023 and is poised to reach $2.6 billion by 2028, growing at a CAGR of 10.0% from 2023 to 2028 according to a new report by MarketsandMarkets™.
The major factors driving the growth of this market include the growing prevalent cases of breast cancer, the increasing number of breast cancer screening programs, the growing demand for minimally invasive and non-invasive procedures, and the improved reimbursement scenario.
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Type segment to register significant growth rate over the forecast period of 2023-2028.
Based on the type, the global breast biopsy devices market is segmented into biopsy needles, guidance systems, localization wires, assay kits, liquid biopsy instruments, biopsy tables, and other devices. The assay kits segment is expected to grow at the highest CAGR during the forecast period. In 2022, the biopsy needle segment accounted for the highest breast biopsy devices market share.
Procedure segment to register significant growth rate over the forecast period of 2023-2028.
Based on the procedure, the breast biopsy devices market is segmented into needle open surgical breast biopsy, breast biopsy, and liquid breast. The liquid breast biopsy segment is anticipated to register the highest growth rate over the forecast period. However, the needle breast biopsy segment accounted for the highest market share in the breast biopsy devices market in 2022.
The early cancer screening segment accounted for the largest share of the breast biopsy market by application in 2022.
Based on application, the market is segmented into early cancer screening, therapy selection, treatment monitoring, and recurrence monitoring. Early cancer screening accounted for the largest share of the market in 2022. However, the therapy selection segment is expected to grow at the highest CAGR during the forecast period.
Factors such as the rising occurrence of breast cancer cases, growing awareness of breast cancer, and supportive government initiatives for breast cancer care and treatment are expected to influence the demand for breast biopsy devices.
The hospital and clinics segment accounted for the largest share of the breast biopsy devices market, by end-user, in 2022.
Based on the end user, the breast biopsy devices market is segmented into hospitals & surgical centers, breast care centers, and imaging clinics & diagnostic centers. The hospitals & surgical centers segment accounts for the largest share of the market in 2022. Factors attributing to the increasing number of breast diagnostic procedures performed in hospitals, the growing inclination of hospitals toward automation and digitization of radiology patient workflow, and the rising adoption of technologically advanced systems in hospitals to improve patient care quality are driving this segment's growth.
The North American market is to register significant growth in the market during the forecast period.
The North American breast biopsy devices market is estimated to grow significantly from 2023 to 2028. factors such as ongoing technological advancements, rising breast cancer incidence rates, favorable reimbursement scenarios, and new breast density notification laws drive market growth in North America. This region has a rise in healthcare investment and expenditure, offering significant growth opportunities for the key players.
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Breast Biopsy Devices Market Dynamics:
Drivers:
1. Increasing number of breast cancer screening programs
Restraints:
1. Risk of infections associated with the use of biopsy needles
Opportunities:
1. Emergence of liquid biopsy and promising clinical trials
Challenges:
1. Underdeveloped Healthcare Infrastructure and Dearth of Resources in Developing Countries
Key Market Players:
As of 2022, prominent players in the breast biopsy devices market are Hologic Inc. (US), Danaher Corporation (US), Argon Medical Devices (US), Medtronic (IRL), Merit Medical Systems (US), Menarini-Silicon Biosystems (ITL), Varian Medical Systems, Inc. (Germany), Planmed Oy (Finland), Sterylab S.R.L (Italy), Biocept, Inc. (US), Bio-Rad Laboratories, Inc. (US), F. Hoffmann-La Roche Ltd (Switzerland), Qiagen (Germany) and Exact Sciences Corporation (US).
Recent Developments:
- Hologic, Inc, an innovative medical technology company primarily focused on improving women's health, announced today that it has completed the purchase of SOMATEX Medical Technologies GmbH; the deal size is $64 million.
- In 2022 Danaher Corporation launched Mammotome Revolve EX Dual Vacuum-Assisted Breast Biopsy System, the first vacuum-assisted biopsy device designed specifically for the excision of benign breast lesions and is twice as fast as traditional vacuum-assisted breast biopsy systems.
- Argon Medical Devices announced the launch of the SuperCore advantage semi-automatic biopsy instrument's newest addition to its soft tissue biopsy product portfolio in the united states. The next-generation soft tissue biopsy instrument provides a superior volume of tissue samples. Collecting more tissue volume may increase the likelihood of an accurate diagnosis.
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Breast Biopsy Devices Market Industry Trends 2023: Key Insights and Analysis, in-Depth Industry Report, Forecast 2028
Hologic, Inc, an innovative medical technology company primarily focused on improving women's health, announced today that it has completed the purchase of SOMATEX Medical Technologies GmbH; the deal size is $64 million.