Significant CAGR Growth to Be Achieved by Breast Biopsy Devices Market by Global Trends, Size, Growth Rate by 2023

Growth in the North American market to fuel the global breast biopsy devices market.The global Breast Biopsy Devices market was valued at US$ XX million in the year 2018 and is expected to reach US$ XX Mn by the year 2023, growing at a CAGR of 10.9%.

A breast biopsy is a procedure that involves the removal of breast tissues or cells for further analysis or diagnosis. These removed cells are examined under a microscope to determine if they are cancerous or not. Breast biopsies are mostly performed using minimally invasive techniques, as they cause minimal disfigurement and pain. Specialized imaging equipment such as ultrasound, magnetic resonance, or stereotactic devices are used to guide the needle to the desired site.  

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The major factors that are driving the growth of the breast biopsy devices are an increasing incidence of breast cancer, an increase in the number of breast cancer screening programmes across the globe, and the rising demand for minimally invasive techniques. According to the International Agency for Research on Cancer, the global incidence of breast cancer was around 2,088,849 in the year 2018 and the total number of deaths due to breast cancer were around 626,679 for the same year. Further, the increasing reimbursement rate for breast biopsies in developed countries is also driving the growth of the breast biopsy devices market. Technological advancements in breast biopsy devices are also expected drive the market.

However, the risk of infection due to inappropriate care of the breast biopsy wounds and cuts is expected to impede the market growth. In developing countries, there is less awareness about the screening programmes, which may act as a restraint for the overall market growth.

Key findings:

·         North America is expected to account for the largest share in the breast biopsy devices market.

·         The Asia-Pacific region is to grow at the highest CAGR during the forecast period.

·         Core needle biopsy devices segment dominates the market.

The notable players operating in the breast biopsy devices market are C.R. Bard Inc (US), Hologic Inc. (US), Argon Medical Devices (US), Beckton Dickinson (US), Cook Medical Inc. (US), Ethicon Endo Surgery (Johnson & Johnson) (US), Devicor Medical Products (US), Encapsule Medical Devices LLC (US), and Intact Medical Corporation (US), amongst others.

The companies are increasingly focusing on launching new products with advanced technologies in order to gain market share. In 2017, Hologic launched a new imaging system named Brevera for performing breast biopsies in the United States. The system will help in carrying out fast and more efficient procedures that will help in reducing the overall cost and in improving patient experience. The companies are also increasingly focussing on launching low cost products, specifically targeted towards the developing countries.

In-patient trials are being conducted for Dune Medical’s new smart biopsy device. The device is a percutaneous soft tissue biopsy device which has miniaturized sensors in the core needle. The sensors generate electrical parameters on the sample tissue in real-time.

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