Market Size – USD 0.65 Billion in 2019, Market Growth - CAGR of 10.8%, Market Trends – Product launches and research for Breast Biopsy

New York, NY -- (SBWire) -- 04/22/2021 --High prevalence of breast cancer, increasing awareness, innovative product launches, increasing strategic developments such as partnerships and agreements, favorable research funding scenario, reimbursement situations are key factors contributing to high CAGR of Breast Biopsy Device Market during forecast period.

Market Size – USD 0.65 Billion in 2019, Market Growth - CAGR of 10.8%, Market Trends – Product launches and research for Breast Biopsy

The recent study of reports and data suggests that the Breast Biopsy Device Market is expected to attain a market value of USD 1.57 Billion by the end the forecast frame registering a CAGR of 10.8%. Breast Biopsy refers to a diagnostic procedure to determine whether a small sample removed from the breast tissue is cancerous. It is regarded as the most effective methods for cancer diagnosis. It is found that about 70-80% of the biopsies are negative of cancer, but may diagnose conditions that are predispose to mammary carcinoma. Breast biopsy is recommended when a person is facing symptoms like a breast lump, sore breast, breast dimpling, peel appearance to breast and nipple discharge etc. The invasive surgical methods for breast biopsy has been found to be disadvantageous as it is painful and the patient will have to bear the psychological stress of false positive referrals.

The increasing vulnerability of women to mammary carcinoma in all the economies, along with the awareness drives and screenings conducted in favor of women have propelled the demand side of the breast biopsy market. The extensive and exhaustive research environment acts as an impetus to the market which has aided in evolving more accurate and minimally invasive methods for the early diagnosis of mammary carcinoma. The governments have also worked towards building a continuous and comprehensive environment for cancer research which has fueled the growth of these diagnostic devices. Also favorable reimbursements in this regard has improved the state of this market drastically. The growth of these diagnostic devices are impeded by the prevalence of side effects and infections after the biopsy. Stringent regulations by the USFDA and other notifying authorities along with high cost of these services have worked against the unrestricted growth of the market.

Key participants include Becton, Dickinson and Company, C.R. Bard, Inc., Devicor Medical Products Inc., Hologic Inc., Argon Medical Devices, Cook Medical Incorporated, Encapsule Medical Devices LLC, Planmed OY, and Ethicon Endo Surgery (Johnson and Johnson), among others.

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Further Key Finding from the report

- The mammary carcinoma is found to be the most common invasive cancer among women and affects women in both developed and developing countries. Hence the target consumers for breast biopsy is women above the age of 40. The growing awareness of breast cancer has fueled the demand for this market
- The American Cancer society has confirmed that there has been a decline in deaths caused by breast cancer reason being that cancer have been detected earlier through mammography, making it the most effective screening method
- Thermography was popularized as it was a method to produce infrared images of head and blood flow near the surface of the body, but it was found that it lacked the ability to detect cancer at the early stage
- Advancements and innovations are carried out in the product segment. Stryker, an innovator in the given field have brought in PreciseCore needles which have been used for improved precision and minimal tissue damage.
- Asia-Pacific regional segment of the breast biopsy market is expected to remain highest growing segment during 2019-2026, at a CAGR of 12.1%; owing it to increase in medical awareness and untapped opportunities in India and China due to rising pool of vulnerable geriatric women with awareness about mammary carcinoma. However, conventional methods like surgery and needle rule the market.
- Currently the vacuum assisted breast biopsy has dominated over the market and is the fastest growing segment as it overcomes the drawbacks of the conventional needle based methods which is inherently characterized with inaccuracy. It is growing at a CAGR of 10.9%.
- Key players involve themselves in the innovative product launch, market expansions and strategic acquisitions to capitalize their market share

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/breast-biopsy-device-market

Segments covered in the report:

This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the Breast Biopsy market on the basis of Type, product, guidance, end use and regional outlook

Type (Revenue, USD Million; 2017–2027)

Needle Breast Biopsy
Vacuum Assisted Surgery
Core needle Biopsy
Fine Needle Aspiration Biopsy
Open Surgical Breast Biopsy
Incisional
Excisional

Product (Revenue, USD Million; 2017–2027)

Biopsy Needles
Biopsy Tables
Guidance Systems
Localization Wires
Punches
Markers
Sutures

Guidance Type (Revenue, USD Million; 2017–2027)

Mammography
Ultra sound
MRI
CT scan
Others

End Use (Revenue, USD Million; 2017–2027)

Diagnostic Clinic
Hospitals
Others

Regional Outlook (Revenue in USD Million; 2017–2027)

North America
Europe
Asia Pacific
Middle East & Africa
Latin America

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Table of Content:

Chapter 1. Market Synopsis
    1.1. Market Definition
    1.2. Research Scope & Premise
    1.3. Methodology
    1.4. Market Estimation Technique
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2018 – 2026
Chapter 3. Indicative Metrics
    3.1. Rising prevalence of breast cancer
    3.2. Awareness among women
    3.3. Introduction of non-invasive methods
    3.4. Regulations
Chapter 4. Breast Biopsy Device Segmentation & Impact Analysis
    4.1. Breast Biopsy Device Segmentation Analysis
    4.2. Breast Biopsy Device Market Value Chain Analysis, 2016-2026
    4.3. Regulatory framework
    4.4. Breast Biopsy Device Market Impact Analysis
         4.4.1. Market driver analysis
                 4.4.1.1. High prevalence of breast cancer diseases across the world
                 4.4.1.2. Minimally invasive techniques
                 4.4.1.3. Product launch and technological advancement
         4.4.2. Market restraint analysis
                 4.4.2.1. Lack of awareness among women
                 4.4.2.2. Regulations
    4.5. Key opportunities prioritized
    4.6. Breast Biopsy Device Pricing Analysis
    4.7. Industry analysis - Porter's
    4.8. Breast Biopsy Device PESTEL Analysis
….
Chapter 10. Competitive Landscape
    10.1. Market Revenue Share by Manufacturers
    10.2. Manufacturing Cost Breakdown Analysis
    10.3. Mergers & Acquisitions
    10.4. Strategy Benchmarking
    10.5. Vendor Landscape
Chapter 11. Company Profiles
    11.1. Becton, Dickinson and Company
           11.1.1. Company Overview
           11.1.2. Financial Performance
           11.1.3. Product Length Benchmarking
           11.1.4. Strategic Initiatives
    11.2. C.R. Bard, Inc.
           11.2.1. Company Overview
           11.2.2. Financial Performance
           11.2.3. Product Length Benchmarking
           11.2.4. Strategic Initiatives
    11.3. Planmed OY
           11.3.1. Company Overview
           11.3.2. Financial Performance
           11.3.3. Product Length Benchmarking
           11.3.4. Strategic Initiatives
    11.4. Hologic Inc.,
           11.4.1. Company Overview
           11.4.2. Financial Performance
           11.4.3. Product Length Benchmarking
           11.4.4. Strategic Initiatives
    11.5. Argon Medical Devices
           11.5.1. Company Overview
           11.5.2. Financial Performance
           11.5.3. Product Length Benchmarking
           11.5.4. Strategic Initiatives
    11.6. Cook Medical Incorporated
           11.6.1. Company Overview
           11.6.2. Financial Performance
           11.6.3. Product Length Benchmarking
           11.6.4. Strategic Initiatives

Continue….

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