The global biopsy device market is on a promising trajectory, with projections indicating a substantial valuation of USD 2,274.1 million by 2024. The market is anticipated to expand at a compound annual growth rate (CAGR) of 3.70%, potentially reaching USD 3,270.4 million by the end of the decade.
This period of steady yet substantial growth is driven by several key factors that are expected to propel the market forward with a robust 1.4x growth trajectory from 2024 to 2034:
- Advancements in Biopsy Technologies: Continuous technological innovations are enhancing biopsy procedures, resulting in increased accuracy and efficiency. These advancements are pivotal in improving diagnostic outcomes and patient experiences.
- Rising Incidences of Cancer and Chronic Diseases: The growing prevalence of cancer and chronic illnesses is significantly boosting the demand for diagnostic procedures, including biopsies. As these conditions become more common, the need for effective and precise diagnostic tools is rising.
- Expanding Healthcare Infrastructure: Investments in healthcare infrastructure, especially in emerging markets, are creating new opportunities for biopsy device adoption. The development of healthcare facilities and services in these regions is driving up demand for advanced diagnostic tools.
“We are optimistic about the growth prospects of the biopsy device market over the next decade,” said a representative from Future Market Insights. “The steady adoption of minimally invasive biopsy procedures and ongoing research and development activities are expected to further fuel market expansion.”
As the global healthcare landscape evolves, the biopsy device market stands to benefit from ongoing technological advancements and a heightened demand for diagnostic precision. Industry stakeholders and investors are encouraged to closely monitor these trends as they navigate the dynamic market environment.
Market Highlights:
- India: Expected to have the highest growth rate, with a CAGR of 5.8% among all countries.
- France: Leading the European market with a forecasted growth rate of 4.3%.
- Needle Biopsy Market Segment: Projected to secure the largest market share of 36.6% by 2024.
- Medical Diagnosis: The largest application segment, holding 61.3% of the market share by 2024.
Biopsy Device Trends: Find Out More in Our Comprehensive Report Filled with Key Insights!
Challenges and Recommendations:
Ethical and legal considerations surrounding biopsy procedures present significant challenges. Adherence to strict procedural standards is essential to ensure clean practices and maintain market integrity.
Competitive Landscape:
The global biopsy device market is highly competitive, with several key players strengthening their positions through strategic initiatives:
- B. Braun Melsungen AG acquired Intermedt Medizin & Technik GmbH in March 2022, diversifying the Avitum division’s product portfolio.
- Becton, Dickinson, and Company collaborated with GOCC in March 2024 to advance bloodstream infection testing and expand operations in Poland.
Key Companies in the Market:
- CR Bard
- Becton, Dickinson, and Company
- B. Braun Melsungen AG
- Hologic Inc.
- Cook Medical
- Devicor Medical Products Inc.
- Argon Medical Inc.
Market Segmentation:
- By Product Type: Guidance System, Needles, Guns, Reagents and Kits, Others
- By Application: Medical Diagnosis, Scientific Research
- By End Use: Hospital, Specialized Oncology Centres, Diagnostic Centers, Research Institutes
- By Region: North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, The Middle East and Africa
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.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube