The global biopsy guidance system market is poised for remarkable expansion in the coming decade, with projections indicating a staggering Compound Annual Growth Rate (CAGR) of 5.8% from 2022 to 2032. According to insights from Future Market Insights, the market, valued at USD 458 million in 2022, is anticipated to exceed a valuation of USD 2 billion by 2032.
The rising demand for biopsy guidance systems is underscored by the anticipated emergence of Stereotactic Guided Biopsy as the highest revenue-generating segment, expected to exhibit a robust CAGR of 6.1% during the forecast period. This growth trajectory reflects the increasing adoption of biopsy guidance systems globally, driven by the growing prevalence of cancer and other chronic diseases.
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“The rising prevalence of cancer, coupled with the surge in the geriatric population and the escalating demand for non-invasive procedures, are key drivers propelling the biopsy guidance system market forward,” stated a spokesperson from Future Market Insights.
Biopsy procedures play a pivotal role in diagnosing cancer and other chronic diseases, encompassing areas such as breast, brain, skin, and prostate cancers. As technological innovations continue to advance and government initiatives support healthcare infrastructure, the adoption of biopsy guidance systems is expected to rise substantially.
The demand for non-invasive procedures is witnessing a surge, driven by factors such as quicker patient recovery times and reduced trauma. Biopsy guidance systems are at the forefront of meeting this demand, providing healthcare professionals with advanced tools for accurate diagnosis and treatment.
Report Highlights:
With the substantial increase in the incidence of cancer along with rising technological advancements, safer and more effective biopsies are rapidly being developed, which is driving the biopsy market globally. Non-invasive procedures are becoming more popular, which is fueling market growth in that area.
Patients attributed to the high costs and painful side effects associated with this treatment have resulted in undiagnosed or inadequate diseases later in life, often avoiding invasive biopsies. These symptoms consequently increase mortality rates and lead to greater expenses and difficulties in treatment.
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Competitive Landscape:
With several local firms vying against multinational competitors, the market is significantly fragmented. To stay competitive in the industry, major businesses are focusing more on research and development of new products.
The Prominent Players in the Biopsy Guidance System Market Are:
- 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
Recent Developments:
When the tumor is located deep inside the body, image-guided biopsies are employed. The Biopsy guidance systems are known as both cost-effective and simple to operate. They can provide superb real-time details that cause the procedure to be less uncomfortable and more efficient for the patient. Furthermore, these guided biopsies can enable to rapid inspect numerous lesions in the axillary and sub-areolar areas.
The robotic biopsies segment is on the rise due to its less invasive nature. A rising number of product launches, combined with quick FDA approval, are also contributing to the segment’s growth.
Increased awareness of biopsy guidance systems along with surging healthcare infrastructure development, impressive reimbursement policies, increased investment in healthcare research and development, and an upsurge in the number of hospitals and diagnostic centers are expected to drive demand for biopsy guidance systems during the assessment period.
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Market Segments Covered in Biopsy Guidance System Market Analysis:
By Product Type:
- Stereotactic Guided Biopsy
- Ultrasound Guided Biopsy
- MRI Guided Biopsy
By Application:
- Brain Biopsy
- Breast Biopsy
- Other Applications
By End-User:
- Hospitals
- Specialty Clinics
- Diagnostic Centres
- Research and Academic Institutes
By Region:
- North America
- Latin America
- Europe
- Asia-Pacific (APAC)
- Middle East and Africa (MEA)
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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