Major players in the biopsy devices market are Becton Dickinson and Company (BD), Cook Medical, Argon Medical Devices, Hologic, Boston Scientific Corporation, Cardinal Health, B. Braun Melsungen AG, Medtronic, Devicor Medical Products, and Danaher Corporation (Leica Microsystem).
The global biopsy devices market is expected to grow from $2.317 billion in 2020 to $2.706 billion in 2021 at a compound annual growth rate (CAGR) of 16.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3.438 billion in 2025 at a CAGR of 6%.
The biopsy devices market consists of sales of biopsy devices and related services by entities (organizations, sole traders and partnerships) that manufacture biopsy devices.Biopsy devices are used to extract sample cells or tissues from the patient’s body to be examined to determine the presence of a disease.
Only goods and services traded between entities or sold to end consumers are included.
Robot-assisted biopsy systems are shaping the biopsy devices market and help avoid complications after the biopsy.The robot-assisted biopsy is done to increase the precision and accuracy of the biopsy process and medical authorities have been approving the devices to make the process easier.
For instance, in 2019, the FDA (Food and Drug Administration) approved Intuitive Surgical Inc’s Ion Endoluminal Lung Biopsy System, a robot-assisted lung biopsy device that uses an ultra-thin articulating robotic catheter. The robotic catheter has an outer diameter of 3.5 mm so that physicians can navigate through thin and tortuous airways and can move 180 degrees in all directions. The system is equipped with a flexible biopsy needle that can pass through tight bends so that it can collect tissue in peripheral lung.
The biopsy devices market covered in this market is segmented by product type into needle-based biopsy instruments; core biopsy devices; aspiration biopsy needles; vacuum-assisted biopsy devices; biopsy forceps; localization wires, and by imaging technology into MRI-guided biopsy; stereotactic-guided biopsy; ultrasound-guided biopsy; CT scan.
In January 2019, IZI Medical Products, a radiology medical device company, has acquired soft tissue and breast localization needle assets from Cook Medical for an undisclosed amount. The acquisition expands the breadth of the products offered by IZI Medical and strengthens diagnostics and therapeutic areas.
The rise in the number of cancer cases contributed to the growth of the biopsy devices market.A biopsy is a primary approach used by doctors to diagnose any abnormalities in the bodies if the presence of cancer cells is suspected.
In 2018, according to the World Health Organization, around 2.09 million cases of lung cancer, 1.28 million prostate cancer cases, 1.03 million stomach cancer cases were diagnosed. The increase in the diagnosis of cancer through biopsy increased the demand for biopsy devices and thereby, drove the market.
The rise in complications associated with biopsies is expected to limit the growth of the biopsy devices market.Complications resulted from a biopsy include excessive bleeding, infection, puncture damage to nearby organ tissue, and skin numbness around the biopsy site.
In some cases, not enough materials are collected and the process needs to be repeated. According to research published in January 2020, major bleeding after percutaneous native kidney biopsy was around 4.3%. These complications in biopsy procedures impact the market’s growth.
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