Market Research Future (MRFR) projects that the breast biopsy market size can cover significant ground between 2020 and 2027 (analysis period). Breast Biopsy Market Growth is significant during forecast period.
The Breast Cancer Organization suggests that in 2019, around 266,130 invasive cases and 65,970 non-invasive breast cancer cases were recorded among women. Changes in lifestyle have led to a rise in risk factors related to breast cancer, some of which include lack of physical activity, excess weight, less breastfeeding, fewer childbirths, and excessive alcohol intake. Rising number of reimbursement policies pertaining to biopsy, and other medical procedures should ensure faster market growth in the years to come. Surging efforts to upgrade healthcare infrastructures across countries and the rising awareness level among the mass about breast cancer should favor the global industry in the following years.
Launch of new and more technically innovative breast biopsy devicesn and equipment on the grounds of safety, cost-effectiveness, and accuracy can be a significant growth booster in the breast biopsy industry. Players frequently make strategic moves such as production expansion, technical innovations, and acquisition to improve their market rankings. Having said that, the recent COVID-19 outbreak has led to suspension of routine breast biopsy procedures at medical facilities while annual programs had to be postponed following the lockdown. Non-essential healthcare procedures as well as surgeries had to be postponed as well, which is touted to leave a slightly negative impact on the global market.
On the bright side, companies are working on leveraging the potential of artificial intelligence, IoT and big data by integrating these technologies into their product ranges, which will ensure sustained market growth in the ensuing period.
Segmentation
The study of the breast biopsy industry extensively covers segments such as product, technique type, guidance technology, and end-user.
The products assessed in the MRFR report are biopsy tables, biopsy needles, guidance systems and biopsy wires.
The technique types considered are core needle biopsy, fine needle aspiration biopsy, MRI-guided core needle biopsy, biopsy markers, excisional biopsy, incisional biopsy, sentinel node biopsy as well as wire localization. The segments, with respect to core needle biopsy, are vacuum-assisted biopsy, stereotactic core needle biopsy, freehand core-needle biopsy, and ultrasound-guided core biopsy. Moreover, the surgical biopsy-based segments are excisional biopsy, and incisional biopsy.
Depending on guidance technology, the global market caters to CT-guided biopsy, mammography-guided magnetic resonance, ultrasound-guided, and several other image-guided breast biopsy (thermography and PET).
Major end-users are diagnostic centers, ambulatory surgical centers, hospitals, and others.
Regional Status
Middle East Africa and America along with APAC or Asia Pacific and Europe are the key regions where the global industry is spread across and can witness growth at varying rates between 2020 and 2027.
Americas forms the biggest market for breast biopsy, with Canada and the US standing at the vanguard of the growth. These countries house vast pools of patients that suffer from breast cancer, while people are fast growing aware of the latest diagnosis techniques. Burgeoning female population afflicted by cancer, technological innovations and the high economic status of the region also add to the market’s strength. Initiatives taken by the government as well as private firms aimed at spreading awareness and the latest treatment lines can also favor the regional market in the following years. To illustrate, Wacoal America Inc. recently introduced a fund-raising initiative called Fit for the Cure, which was aimed at donating the funds to the Susan G. Komen Breast Cancer Foundation while also spreading awareness about breast cancer in the United States.
Europe is presumed to remain at the second position during the analysis period, in view of the rapidly mounting demand for breast biopsy coupled with the surge in advances in the healthcare sector. Various countries like Italy, the UK, France, and more are focusing majorly on coming up with more advanced and effective breast cancer diagnostic techniques, which should push the market demand even more in the years to come. Apart from this, the massive pool of established healthcare firms in the region enhances the market size.
Asia Pacific is touted to capture the fastest growth rate over the coming years, thanks to the accelerated cases of malignant tumors in the region. Soaring number of programs aimed at fostering the awareness level among people about breast cancer accompanied by rising disposable incomes can also favor the APAC market in subsequent years. significant unmet medical needs and growing awareness among patients about early diagnosis also elevate the market position. The rapidly improving healthcare infrastructure and the expanding medical tourism sector should also facilitate market expansion in the years to follow.
Eminent Firms
The renowned vendors in the breast biopsy industry include Karl Storz GmbH Co. Kg, GE Healthcare, NuVue Therapeutics, Argon Medical Devices, Inc., Becton, Dickinson and Company, Leica Biosystems, C.R. Bard Inc., Encapsule Medical Devices LLC., Johnson Johnson, Cook Medical Incorporated, Devicor Medical Products Inc. Hologic Inc. Argon Medical Devices, Hologic Inc., Intact Medical Corporation, Conceptus INC, Galini SRL, and many more.
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