Global Biopsy Devices Market- Segments
The global Biopsy Devices Market Size is increasing pervasively over the last decade. Factors such as increasing prevalence of kidney diseases transplants are fuelling the market growth to an extent. Also, the risk factors for kidney diseases disorders like chronic high blood pressure diabetes are speeding up the market growth, creating the demand for the better diagnostic and treatment methods.
Market Research Future (MRFR), in its recently published study report, asserts that the global market of biopsy devices is forecasted to perceive the valuation of USD 2.4 Billion by 2023 at a CAGR of approximately 6% throughout the forecasted period (2017 – 2023). Technological advancements in the field of smart and connected devices and the growing penetration of Internet of Things (IoT) are fostering the market growth.
Additional factors propelling the market growth include the changing lifestyle led by the growing urbanization industrialization coupled with the improving economic conditions that enable access to the quality of life to the improved healthcare worldwide. Advancements in surgeries, fuel the market growth. Furthermore, factors such as increasing number of biopsy procedures and rising demand for new techniques for diagnosis of chronic diseases provide significant impetus to the market growth.
Conversely, factors such as prohibitive costs associated with these devices and the increasing awareness and availability in the developing as well as in the developed regions are some of the key factors impeding the market growth. Adversely, new products and services available in the developing and well as developed countries and the presence of well-established market players are expected to provide impetus to the market growth, filling up the demand and supply gap.
Global Biopsy Devices Market – Competitive Analysis
The global biopsy devices market is fragmented with a large number of players churning the competition. The increasing incidences of drug resistance have opened doors for the development of new devices and opportunities for the new entrants and leaders alike. The rises of spurious and counterfeit devices have reduced the total market revenues, displacing standard devices off the market.
Key Players:
Precision Biopsy, LLC, BD, Scion Medical Technologies, LLC. (UK), Hologic, Inc., Cook Medical, Leica Biosystems, C. R. Bard, Inc. Argon Medical Devices, Inc., Creganna, Focal Therapeutics, Inc., and Integra LifeSciences Corporation are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global market for biopsy devices.
Industry/Innovations/Related News:
July 24, 2018 – The U.S. Food and Drug Administration (FDA) approved a magnetic device system to be used for guiding sentinel lymph node biopsies in the breast cancer patients with specific conditions and are undergoing the mastectomy. The Sentimag System also known as the magtrace and sentimag magnetic localization system identifies specific lymph nodes, known as sentinel lymph nodes to be removed by surgeries by using magnetic detection during sentinel lymph node biopsy procedures.
Aug 08, 2018 – The U.S. Food and Drug Administration (FDA) approved the breakthrough device for blood-based cancer diagnostic assay, developed by PapGene. This new assay uses a combination of circulating tumor DNA and protein biomarkers to detect cancers in average-risk, asymptomatic individuals over the age of 65.
The process helps patients to have more timely access to devices and technology that provide more effective treatment or diagnosis for life-threatening diseases that do not otherwise exist.
Global Biopsy Devices Market- Regional Analysis
Globally, North America is dominating the global Liquid Biopsy Companies 2021. Factors substantiating the market growth include extensive uptake of technologically advanced medical devices, increasing governmental support for RD activities and high expenditures for health care. With the increasing prevalence of kidney diseases, diabetes, and renal failures, the market is expected to reach USD 2.4 billion by 2022.
Europe region is another lucrative market for biopsy devices. This growth attributes to the increasing emphasis on the development of advent diagnostic devices, rising government support for RD activities with the increased funding. Besides, the rising numbers of specialty services offered by various healthcare providers provide impetus to the market growth in the region.
The Asia Pacific is emerging as a promising market for biopsy devices, growing rapidly. Increasing incidents of diabetes, along with the rising number of kidney transplant procedures in urology centers are fostering the market growth. Furthermore, factors such as the increasing demand for quality devices in the healthcare and rapidly developing healthcare technology is expected to lead the use of advanced equipment, which, in turn, is expected to fuel the market growth in APAC region.
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