Biopsy Guidance System Market (By Product: Stereotactic Guided Biopsy, Ultrasound Guided Biopsy, MRI Guided Biopsy; Application: Brain Biopsy, Breast Biopsy; End-use: Hospitals, Specialty Clinics, Diagnostic Centres, Research and Academic Institutes) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2021-2030

The global Biopsy Guidance System market size is expected to be worth around US$ 1,883.5 Million by 2030, according to a new report by Vision Research Reports.

The global Biopsy Guidance System market size was valued at US$ 960.4 Million in 2020 and is anticipated to grow at a CAGR of 5.9% during forecast period 2021 to 2030.

Growth Factors

 The increasing prevalence of cancer, rise in the geriatric population, growing demand for non-invasive procedures, technological innovations, a rising number of government initiatives, and impact of COVID-19 are the key driving factors for the market.

A biopsy is one of the most prominent procedures for diagnosing cancer amongst other chronic diseases, and it is commonly employed in the diagnosis of breast, brain, skin, and prostate cancer. The increasing prevalence of cancer is a major factor responsible for market growth. For instance, according to Cancer.org, in 2021, around 1.9 million new cancer cases are expected to be diagnosed in the US. Since the biopsy guidance system is one of the major requirements for the initial diagnosis of cancer, thus, rising number of cancer cases is anticipated to propel market growth over the forecast period

Furthermore, there is a rising preference for minimally invasive biopsy treatments in the market. During the forecast period, several types of technologies and products including robot-assisted biopsy guidance systems, needle-based biopsy guns, and vacuum-assisted core biopsy systems, are expected to expand rapidly. For instance, in March 2021, IZI Medical Products, LLC launched Quick-Core Auto Biopsy System for soft tissue biopsy. It is a lightweight, completely automatic biopsy device and provides reliability, quality, and accuracy. Additionally, rising awareness of breast cancer treatment and diagnosis will further boost market growth over the forecast period.

Report Highlights

 The stereotactic guided biopsy segment held the largest revenue share of 39.7% in 2020 and is expected to witness a considerable growth rate over the forecast period. The stereotactic guided biopsy is advantageous as it is less invasive, provides rapid recovery time, and causes minimal scarring. Another advantage of this guidance technique in estimating tiny masses that are not visible in ultrasound. Moreover, it is an economical procedure as compared to open surgical biopsies. Thereby, the aforementioned advantages lead to a surge in demand for stereotactic guided biopsies. Moreover, the introduction of automated core-biopsy guns has accelerated the preference for this technique. Several healthcare centers have prolonged the potential use of stereotactic guided biopsy to nearly all complicated mammographic lesions.

The ultrasound-guided biopsy segment is anticipated to witness the fastest growth rate over the forecast period. It is the most effective imaging tool for guiding percutaneous biopsies and fine-needle aspirations. It is a safe and precise way for guiding needles into abdominal and pelvic organs and masses utilizing real-time imaging. It has several benefits over computed tomography-guided biopsies, including portability, cost, and the absence of ionizing radiation. Biopsies of lesions as tiny as 1 cm can be conducted if the operation is safe and the mass can be seen sonographically. Thus, owing to the above-mentioned benefits, ultrasound-guided breast biopsy gaining popularity amongst patients.

The brain biopsy segment dominated the market and held the largest revenue share of 42.8% in 2020 and is anticipated to witness a considerable growth rate over the forecast period. The increased incidence of brain cancer is the key major factor driving the demand for brain biopsies. For instance, according to the National Brain Tumor Society, a projected 700,000 people in the US are living with a primary brain tumor, and nearly 85,000 more will be diagnosed in 2021. Moreover, the increasing geriatric population is also driving the growth of the brain biopsy segment. The average age at diagnosis for a primary brain tumor is 60 years. An estimated 69,950 adults age 40+ are expected to be diagnosed with a primary brain tumor in 2021 in the US. In addition, developments in biopsy guidance systems such as open Magnetic Resonance Image (MRI) guided robotic systems for brain biopsy, will add to segment growth.

The breast biopsy segment is anticipated to witness the fastest growth rate over the forecast period. The rising prevalence of breast cancer among women after menopause, and technological advancement are the key factor fueling the segment growth. For instance, according to Breastcancer.org. around 281,550 new cases of invasive breast cancer and 49,290 new cases of non-invasive breast cancer were reported in 2020 in the U.S. Also, as per the WHO, in 2020, around 2.3 million women were diagnosed with breast cancer, and around 685 000 deaths were reported globally. Thus, the high prevalence of breast cancer and growing demand for advanced minimally invasive therapies are leading to segment growth.

The hospitals segment dominated the market and held the largest revenue share of 36.1% in 2020 and is expected to witness a significant growth rate over the forecast period. The segment's dominance can be attributed to the increase in the use of biopsy guidance systems in hospitals across the globe. Patients are increasingly opting for minimally invasive surgical procedures to avoid traditional surgical complexities and side effects, boosting sales of biopsy guidance systems and propelling segment growth. Moreover, the increasing number of populations suffering from cancer is the key factor boosting the hospital segment growth. For instance, according to the American Cancer Society, around 60,530 new cases of leukemia and 23,100 deaths from leukemia were reported in the U.S. in 2020. Furthermore, the growing geriatric population, which is among the vast patient pool admitted to hospitals for early cancer diagnosis, might fuel the segment growth.

The specialty clinics segment is expected to witness the fastest growth over the forecast period. The rise in popularity of out-of-hospital, single-specialty healthcare centers in recent years has provided the considerable potential for both new and established healthcare enterprises. Growing consumer awareness concerning the accessibility of diagnostic and screening procedures for chronic diseases in such clinics is propelling the demand for technologies such as stereotactic-guided biopsies. Furthermore, the capacity of specialty clinics to provide a tailored solution for a specific purpose, combined with specialized infrastructure, is fueling the segment's growth.

North America dominated the biopsy guidance systems market and accounted for the largest revenue share of 45.4% in 2020 and is expected to witness a considerable growth rate of 5.3% over the forecast period. North America accounted for the majority share due to continuous expansion in cancer diagnostic companies and the growing demand for innovative treatments. Government agencies, non-profit healthcare organizations, pharmaceutical, and biotech companies, and research institutes are investing substantially in medical and health-related research and development, which is also anticipated to fuel market growth.

In Asia Pacific, the market is anticipated to exhibit lucrative growth during the forecast period. Traditional biopsy techniques, such as core-needle biopsies and surgical biopsies, still dominate the cancer diagnostic market in Asian countries. A significant increase in the incidence of cancer is a key factor responsible for regional market growth. For instance, as per the American Cancer Society, Inc., in 2018, around 8.2 million cases of cancer and 5.2 million deaths were reported in Southern, Eastern, and South-Eastern Asia, conforming to about half of the cancer burden globally. A recent report published by National Cancer Registry Programme (NCRP) estimated that the number of cancer cases in India is projected to surge from 13.9 lakh in 2020 to 15.7 lakh by 2025. As a result of the rising number of cancer cases and advancements in biopsy guidance systems, the market is anticipated to expand over the forecast period.

Key Players 

• Becton, Dickinson, and Company

• Hologic, Inc.

• Devicor Medical Products, Inc.

• B. Braun Melsungen AG

• ARGON MEDICAL

• Boston Scientific Corporation

• INRAD Inc.

• Cook Medical

• PLANMED OY

Market Segmentation

• Product Outlook

  • Stereotactic Guided Biopsy

  • Ultrasound Guided Biopsy

  • MRI Guided Biopsy

• Application Outlook 

  • Brain Biopsy

  • Breast Biopsy

  • Other Applications

• End-use Outlook 

  • Hospitals

  • Specialty Clinics

  • Diagnostic Centers

  • Research and Academic Institutes

• Regional Outlook 

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

The Biopsy Guidance System market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Biopsy Guidance System market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Biopsy Guidance System market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Biopsy Guidance System market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Biopsy Guidance System market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Biopsy Guidance System capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Biopsy Guidance System by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Biopsy Guidance System market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Biopsy Guidance System market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Biopsy Guidance System market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Biopsy Guidance System industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Biopsy Guidance System market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Biopsy Guidance System market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Biopsy Guidance System market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Biopsy Guidance System market. These factors have benefited the growth of the global market for Biopsy Guidance System. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Biopsy Guidance System. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Biopsy Guidance System are as follows:

·         Historic Year: 2017-2020

·         Base Year: 2021

·         Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

·         To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);

·         Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.

·         Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

·         To define, describe and forecast the market by type, application and region.

·         To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.

·         To identify significant trends and factors driving or inhibiting the market growth.

·         To analyze the opportunities in the market for stakeholders by identifying the high growth segments.

·         To strategically analyze each submarket with respect to individual growth trend and their contribution to the market

·         To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market

·         To strategically profile the key players and comprehensively analyze their growth strategies.