Biopsy Guidance System Market Share, Strategies and Forecasts 2028
Biopsy Guidance System Industry Overview
The global biopsy guidance system market size is expected to reach USD 1,383.5 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.2% from 2021 to 2028. 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.
Biopsy Guidance System Market Segmentation
Grand View Research has segmented the global biopsy guidance system market on the basis of product, application, end-use, and region:
Based on the Product Insights, the market is segmented into Stereotactic Guided Biopsy, Ultrasound Guided Biopsy and MRI Guided Biopsy.
- 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.
- 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.
Based on the Application Insights, the market is segmented into Brain Biopsy, Breast Biopsy and Other Applications.
- 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. 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.
Based on the End-user Insights, the market is segmented into Hospitals, Specialty Clinics, Diagnostic Centers, Research and Academic Institutes.
- 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.
- 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.
Biopsy Guidance System Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Companies Profile & Market Share Insights
Key players are involved in adopting strategies such as mergers and acquisitions, partnerships, and launching new products to strengthen their foothold in the market.
Some of the prominent players operating in the global biopsy guidance system market include,
- Becton, Dickinson, and Company
- Hologic, Inc.
- Devicor Medical Products, Inc.
- Braun Melsungen AG
- ARGON MEDICAL
- Boston Scientific Corporation
- INRAD Inc.
- Cook Medical
- PLANMED OY
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