A breast biopsy is a test in which a sample of tissue or fluid from the suspicious area is removed and then examined to check for the presence of breast cancer. There are different types of biopsy procedures, such as vacuum-assisted biopsy (VAB), core needle biopsy (CNB), fine-needle aspiration biopsy (FNAB), and surgical biopsy. Vacuum-assisted biopsies have been holding the largest share in the global Breast Biopsy Devices market and are likely to grow at a high rate in the coming years.
There are basically 5 types of products in the Breast Biopsy Devices market – biopsy needles, biopsy tables, localization wires, guidance systems, and others. The global Breast Biopsy Devices market is expected to grow at a CAGR of 6.7% from 2019 to 2024 to reach USD 590 million by 2024.
The growth of the market will be driven by the increasing incidence of breast cancer, especially among women above the age of 35 years. Women during menopause become more susceptible to breast cancer. The rising incidence of breast cancer has created more demand for screening tests like breast biopsy, which in turn, is propelling the growth of the Breast Biopsy Devices market.
Apart from this, awareness about breast cancer and cancer screening programs have increased manifolds over the years. This too has increased the demand for Breast Biopsy Devices. New reimbursement guidelines for breast biopsy procedures in the U.S. have also given a major boost to the market.
Other factors to favourably affect the growth of the global Breast Biopsy Devices market are increasing demand for technologically-advanced and minimally invasive screening procedures and devices, and product and technological innovations. However, unspecified regulatory issues, risks of infection associated with breast biopsy procedures, and ambiguous reimbursement policies may restrict the growth of the market.
North America accounted for the largest share in the sale of Breast Biopsy Devices in 2016, followed by Europe. In the coming years, the Breast Biopsy Devices industry in the Asia-Pacific region is expected to register the fastest growth, mainly due to the growing geriatric population, rising prevalence of breast cancer, increasing healthcare expenditure, and rising per capita income. Growing awareness about breast cancer and screening programs and increasing research in biopsy devices will also foster the growth of the Asia-Pacific Breast Biopsy Devices market.
Some major players operating in the global Breast Biopsy Devices market are, C.R. Bard, Inc., Devicor Medical Products Inc., Hologic Inc., Becton, Dickinson and Company, Cook Medical Inc., Argon Medical Devices, Gallini SRL, Intact Medical Corporation, Cardinal Health, Olympus Corporation, Boston Scientific Corporation, Medtronic plc., and Ethicon Endo-Surgery.