The Global Cold Disposable Biopsy Forceps Industry is poised for a groundbreaking transformation, with a recent study conducted by Future Market Insights (FMI) forecasting unprecedented growth. The industry, which is set to achieve remarkable milestones, is projected to reach the US$634.6 million mark by 2023, signaling the initiation of a trajectory that boasts an impressive compound annual growth rate (CAGR) of 8.2%. By 2033, the market is anticipated to soar to a substantial valuation of approximately US$1.40 billion.
The surge in demand for cold disposable biopsy forceps is attributed to several factors, including the increasing prevalence of bronchitis and gastrointestinal disorders, particularly among the geriatric population. Additionally, a heightened awareness of endoscopic procedures is contributing to the market’s upward trajectory. The adoption of disposable biopsy forceps, known for their reliability in test sampling, is also expected to gain widespread popularity.
The current landscape sees minimally invasive technology, centered around the endoscope system, extending its reach to various medical departments, including obstetrics, general surgery, otolaryngology, gynecology, thoracic surgery, urology, pediatrics, and more. Minimally invasive endoscopic technology has become indispensable for the diagnosis and treatment of chronic diseases associated with breathing, digestion, urology, otolaryngology, and beyond.
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With the rising demand for endoscopic minimally invasive technology and continuous improvement in endoscopic processing technology, endoscopic applications have become prominent in almost all departments. The growing demand for diagnosis and endoscopic treatment is expected to further boost the demand for cold disposable biopsy forceps.
Numerous recent technological advances are becoming available to endoscopists. An abundance of new imaging modalities is expected to facilitate early detection of chronic disorders and other pathological entities. Most of these techniques remain investigational and are currently in clinical trials to determine patient benefits.
Companies are expanding their product lines by manufacturing different types of products for a wide range of applications.
For instance, Micro-Tech Endoscopy is mainly engaged in the R&D, manufacturing, and sales of minimally invasive medical devices, in line with its mission of supporting clinicians with technology and innovation.
Key Takeaways from Global Cold Disposable Biopsy Forceps Industry Study
- Oval cup forceps gained popularity and their sales are expected to grow at a CAGR of 8.8% during the forecast period.
- 8 mm diameter have sharpened cups whch ensure superior cutting performance and lead to fewer artefacts and less bleeding. The segment is therefore expected to account for a share of 24.9% in 2021.
- 2300 mm length forceps has precise jaws, no tearing and cause small wound. The segment accounted for the highest share of 37.9% in 2021.
- Upper GI Endoscopy dominated the application segment with the highest market share of 24.9% in 2021.
- Hospitals accounted for the largest share of around 42.0% in 2021 and will remain the end user in the market.
“High prevalence of conditions such as IBD and GERD and growing demand for minimally invasive endoscopic procedures are set to boost the demand for Global Cold Disposable Biopsy Forceps Industry over the next decade,” says the Future Market Insights analyst.
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Who is winning?
The key players are focusing on acquisitions and partnerships with small players and suppliers to increase their market presence. Besides this, they are adopting various strategies to expand their footprint. For instance:
iIn April 2018, Boston Scientific Corporation closed its acquisition of NxThera. The company developed a minimally-invasive therapy the Rezūm system, for patients suffering from symptomatic benign prostatic hyperplasia. With the completion of the acquisition, NxThera became a part of Boston Scientific’s urology and pelvic health business. Moreover, the manufacturers are focusing on research and development activities for developing cold disposable biopsy forceps for various research applications.
In july 2020, ChargePoint and STERIS collaborated to develop a fully validated sterile transfer solution to offer a unique and integrated solution for sterile product transfer.
Some of the leading players in the Global Cold Disposable Biopsy Forceps Industry include but are not limited to Olympus Corporation, Boston Scientific Corporation, STERIS, CONMED Corporation, Cook Medical, Micro-Tech Endoscopy, Anrei Medical and other companies.
Key Market Segments Covered in Global Cold Disposable Biopsy Forceps Industry Research
By Product:
- Oval Cup
- Oval Cup with Needle
- Alligator Jaw
- Alligator Jaw with Needle
By Diameter Size:
- 2mm
- 8mm
- 0mm
- 4mm
- 8mm
- 7mm
By Length:
- 1150mm
- 1550mm
- 2300mm
By Application:
- Enteroscopy
- Upper GI Endoscopy
- Lower GI Endoscopy
- Bronchoscopy
- Others
By End User:
- Enteroscopy
- Upper GI Endoscopy
- Lower GI Endoscopy
- Bronchoscopy
- Others
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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