Industry Insights
Biopsy devices market is anticipated to witness lucrative growth over the forecast period owing to the increasing incidences of chronic diseases such as cancer, kidney diseases and other infectious diseases. Biopsy is the process of detection and removal of cancerous cells and their abnormal growth in the body. Shave biopsy, excision biopsy, skin biopsy and incision biopsy are certain types of biopsy which are used for the diagnosis of cancer. The rapidly rising awareness about deadly diseases and growing geriatric population needed to be diagnosed with biopsy devices are anticipated to drive the biopsy device market by 2020. The increasing demand for minimally invasive biopsy procedures is also the factor expected to further fuel the global biopsy devices market over the forecast period.
The growth opportunity of emerging nations in biopsy market is considerably high over the forecast period. Developing nations provide significant opportunity in this market owing to the large potential market which is lying untapped. Owing to the increasing healthcare expenditure, continuous research and development for biopsy devices and increasing per capita disposable income are the factors anticipated to drive the biopsy device market over next six years.
Product Insights
Biopsy devices market is segmented on the basis of biopsy products. Biopsy products are further divided into biopsy needles, needle-based biopsy guns, biopsy guidance system, biopsy forceps and others. Biopsy needle is bifurcated into reusable biopsy needles and disposable biopsy needles. Disposable biopsy needle is anticipated to witness lucrative growth owing to the increasing incidences of hospital acquired diseases all over the world. Needle based biopsy guns segment is further classified into vacuum assisted biopsy devices, fine needle aspiration biopsy devices and core needle biopsy devices. Vacuum assisted biopsy devices segment is anticipated to be the fastest growing biopsy procedure owing to the comparatively less complications and accuracy of these devices. Biopsy forceps is bifurcated into cold biopsy forceps and hot biopsy forceps. Cold biopsy forceps market are also known as general biopsy forceps and expected to witness lucrative growth over next six years due to its efficient prevention capability from infectious diseases. Biopsy guidance system is divided into manual guidance system and robotics guidance system. Manual guidance system is further segmented into mammotome biopsy system, ATEC sapphire, affirm and encore enspire, whereas robotics guidance systems is divided into da vinci, innomotion, pathfinder and neuromate. Robotics guidance market is anticipated to be the fastest growing segment owing to the increasing investment in technological advancement and rising personal disposable income.
Regional Insights
The biopsy device market on the basis of regions is divided into North America, Europe, Asia Pacific and RoW. North America accounted for highest share as of 2013 in terms of revenue. Owing to the increasing awareness about biopsy devices and growing prevalence of cancer, North American market is likely to continue its lead over next six years. Asia Pacific region is considered to be the fastest growing segment by 2020. This region possess significant amount of unexploited resources. Rise in medical tourism and increasing population rate are the triggering factors expecting growth from this region. Improvement in overall healthcare infrastructure, huge unmet demand and rising disposable income are also the factors expected to drive the market.
Competitive Insights
Some of the key players of biopsy device market include Angiotech, Devicor Medical Products, Inc., Cardinal Health Inc., Carefusion Corporation, C. R. BARD, Inc., UK Biopsy INRAD, Inc., Hologic, Inc. and DTR Medical. The market is competitive and firms are adopting many new strategies for the development of their business.
