Biopsy Devices Market: Growth, Size, Share, and Trends

Market Growth Outlook Summary

The global biopsy devices market growth forecasted to transform from USD 6.6 billion in 2023 to USD 12.6 billion by 2028, driven by a CAGR of 14.0%. Over the years, biopsy device technologies have evolved significantly, with a focus on enhancing accuracy, reducing patient discomfort, and improving diagnostic yield. These innovations, combined with increasing cancer incidence rates and the need for early disease detection, have driven the growth of this market, making it an integral component of the broader healthcare landscape. As healthcare continues to advance, biopsy devices continue to be at the forefront of diagnostic and therapeutic interventions, contributing to improved patient outcomes and the advancement of medical knowledge. The wide-ranging use of biopsy devices imaging systems continues to drive innovation and breakthroughs in various domains, benefiting humanity in numerous ways.

Global Biopsy Devices Market Trends

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e- Estimated; p- Projected

Biopsy devices Market Dynamics

Driver: Rising prevalence of cancer

Globally, there has been a significant increase in the number of people suffering from cancer. According to the GLOBOCAN’s estimates, the number of people suffering from cancer is expected to increase to 19.3 million by 2025 from 19.3 million in 2020. Cancer is the second leading cause of death in the US and accounts for nearly 1 in every 4 deaths. According to the American Cancer Society, in the US, 1,688,780 new cancer cases (excluding carcinoma in situ of any site) are expected to be diagnosed in 2017, and the total number of cancer-related deaths is expected to be 600,920 in the same year; this figure corresponds to ~1,650 deaths per day.

The incidence rates of cancer remain highest in the more-developed regions; however, the mortality is relatively higher in the less-developed countries due to limited access to treatment facilities and lack of awareness regarding the benefits of early detection. According to the GLOBOCAN 2012, about 56.8% of all new cancer cases and 10 million of all cancer deaths in 2020 occurred worldwide. GLOBOCAN predicts that the number of cancer cases will increase to 28.4 million in 2040. The mortality ratio was the highest in China (70.2%), followed by India (69.1%). These proportions are expected to increase further by 2025. The increasing number of cancer patients will lead to an increase in the number of biopsy procedures to diagnose malignant and benign cancer which is expected to drive the growth of market.

In 2022, the geriatric population affected with cancer accounted for 47.5% of cancer cases; this percentage is expected to reach 54.6% in 2030. The rapid growth in the geriatric population and the growing prevalence of cancer in this population is expected to increase the demand for biopsy procedures subsequently. The global shift towards an aging population is poised to exert a significant impact on cancer control efforts worldwide, given the higher incidence of cancer among elderly individuals. The pace of population aging is accelerating, with a current count of more than 703 million individuals worldwide aged 65 and above, constituting 9.1% of the global populace. This demographic transformation underscores the increasing importance of addressing cancer as a critical public health concern, particularly in the context of an aging society. By the year 2050, it is projected that the incidence of cancer among individuals aged 85 and above will experience a fourfold rise. ( Source:ons.org)

Restraint: Risk of infections

Biopsy procedures assist radiologists and surgeons in examining abnormalities at a particular site. However, patients can be infected during these procedures as they involve cuts and incisions for removing tissue samples. According to an article published in The Journal of Urology 2014 (Official Journal of the American Urology Association), the incidence of severe post-prostate biopsy infections is on the rise in Sweden. As per this study, the incidence of urinary tract infections was approximately 2%, which increased to 6% after 30 days of biopsy and 1% were hospitalized. The high risk of infections post biopsy procedures can hinder the growth of this market.

Opportunity: Technological Advancements

Continued innovation in biopsy device technology, such as improved imaging capabilities, robotics, and precision-guided biopsy tools, offers opportunities for more accurate and less invasive procedures. Advanced imaging techniques such as ultrasound, magnetic resonance imaging (MRI), and computed tomography (CT) scans have become integral in guiding biopsy procedures. For instance, real-time ultrasound imaging allows healthcare professionals to precisely target and extract tissue samples, minimizing the risk of complications.

• Medtronic has introduced the StealthStation iO navigation system, a cutting-edge image-guided surgery platform suitable for a range of procedures, including image-guided biopsy. Leveraging artificial intelligence (AI), the StealthStation iO system enhances the precision and effectiveness of image-guided surgical interventions, significantly improving their accuracy and efficiency.
• Hologic, a prominent provider of women's health and imaging solutions, unveiled its latest offering, the Affirm Breast Biopsy System, in September 2022. This advanced system is designed for minimally invasive breast biopsies and leverages 3D tomosynthesis for precise needle placement guidance. The Affirm system incorporates several innovative elements, such as an intelligent needle guide that automatically retracts upon tissue acquisition, thereby mitigating the potential for patient discomfort and procedural complications

The growth of liquid biopsy technologies, which enable the detection of cancer-related biomarkers in blood or other bodily fluids, presents significant growth potential for non-invasive cancer diagnosis and monitoring. Several companies are actively engaged in advancing liquid biopsy technologies. For instance, TrovaGene is in the process of developing a novel liquid biopsy test aimed at early colorectal cancer detection, while Natera is working on a liquid biopsy test for the early detection of ovarian cancer. These advancements have the capacity to enhance the precision, safety, and effectiveness of liquid biopsy tests. The realm of liquid biopsy is marked by continuous innovation, with new breakthroughs regularly emerging. This dynamic environment presents an exciting opportunity for those involved in the field, and I eagerly anticipate witnessing the future developments in liquid biopsy technology.

Challenge: Underdeveloped healthcare infrastructure and dearth of resources in developing countries

With the growing awareness about different types of cancers, the demand for biopsy procedures in developing countries is expected to increase in the coming years. Due to limited healthcare resources and underdeveloped infrastructure, alternative strategies for diagnosis of breast cancer are widely used in the region. Mortality caused due to breast cancer is also higher in low- and middle-income countries as compared to high-income countries. This is mainly due to the lack of early detection in these countries.

Although the incidence of cervical cancer has been increasing, the screening coverage in this region is very low. In Sub-Saharan Africa, it has been estimated that only 5% of the women at risk are screened for cancer. Likewise, in India, guidelines for population-based screening programs for cervical cancer have been established based on visual inspection tests. Despite these guidelines, the screening coverage in this country is very low. Various factors such as lack of trained practitioners, inadequate laboratory supplies, inappropriate physical access to treatment, and ethical and religious beliefs are negatively impacting the diagnosis of this condition. Inadequate healthcare resources and underdeveloped healthcare infrastructure thus present challenges to the growth of the market in developing countries.

Biopsy Devices Market Ecosystem

By product, the Needle based biopsy instruments segment accounted for the largest share of the biopsy devices industry in 2022

Based on technology, the global biopsy devices market is segmented into needle-based biopsy instruments, localization wire, procedure tray, biopsy forceps, biopsy tables and others. In 2022, the needle-based biopsy instruments segment accounted for the largest market share. Needle biopsies are minimally invasive procedures that can be performed quickly and with relatively low patient discomfort, making them preferable for both patients and healthcare providers. Secondly, the rising incidence of cancer and the need for early diagnosis have increased the demand for tissue sampling, particularly for lesions that are difficult to access through traditional means.

By application, the breast biopsy applications segment of the biopsy devices industry to register significant growth in the near future

Based on application, the biopsy devices market is divided into breast, bone marrow, colorectal, lung, prostate and other applications. Major share of the segment is attributed to the increasing number of cancer cases and the growing use of biopsy devices for diagnosis purpose.

By end user, the hospitals and breast care centers segment accounted for the largest share of the biopsy devices industry in 2022

On the basis of end user, the biopsy devices market has been segmented into hospitals and breast care centers, diagnostic imaging centers; research and academic institutes; and other end users. However, the diagnostic imaging center segment is estimated to grow at the highest CAGR during the forecast period.

By region, North America is expected to be the largest market of the biopsy devices industry during the forecast period

North America, comprising the US and Canada, accounted for the largest market share of the biopsy devices industry in 2022. The faster growth of the biopsy devices imaging market in North America can be attributed to its technological leadership, robust healthcare infrastructure, high market demand driven by prevalent chronic diseases and an aging population, ample financial resources for advanced medical equipment investment, established regulatory frameworks ensuring safety and quality, active research collaboration, insurance coverage for advanced diagnostics, patient expectations for comprehensive care, and a competitive market environment fostering innovation.

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As of 2022, prominent players in the biopsy devices market are Becton, Dickinson and Company (US), Cook Group Incorporated (US), Devicor Medical Products, Inc. (Leica Biosystems) (Germany), Hologic, Inc. (US), Argon Medical Devices (US), B. Braun Melsungen AG (Germany), Cardinal Health, Inc. (US), Olympus Corporation (Japan), Boston Scientific Corporation (US), FUJIFILM Holdings Corporation (Japan), INRAD, Inc. (US), and Medtronic plc (Ireland).

Biopsy Devices Market Report Scope

This report has segmented the global biopsy devices market to forecast revenue and analyze trends in each of the following submarkets:

By Product

• Needle Based Biopsy Instruments
• Liquid Biopsy Instruments
• Localization Wire
• Biopsy Forceps
• Procedure Tray
• Biopsy Table
• Other Biopsy Products

By Guidance Technique

• Image Guided Biopsy
  • Ultrasound Guided Biopsy
  • Stereotactic Guided Biopsy
  • MRI Guided Biopsy
  • Other Biopsy
• Non-Image Guided Biopsy
  • Liquid Biopsy
  • General Biopsy

By Application

• Breast Cancer
• Lung Cancer
• Kidney Cancer
• Prostate Cancer
• Bone Marrow Biopsy
• Other Applications

By End User

• Hospitals and Breast Care Centers
• Diagnostic Imaging Centers
• Research and Academic Institutes
• Other End Users

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa

Recent Developments of Biopsy Devices Market

• In December 2022, Olympus entered into a definitive agreement, subsequently finalizing the acquisition of all outstanding shares of Odin Medical Ltd., a cloud-AI endoscopy company based in the UK. This acquisition was conducted through Olympus' UK subsidiary, Keymed (Medical & Industrial Equipment) Ltd.
• In November 2021, B. Braun and REVA Medical announced the strategic partnership for the distribution of Fantom Encore - a bioresorbable scaffold for coronary interventions, manufactured with REVA's patented material Tyrocore. B. Braun will start active distribution of the products in Germany and Switzerland in November 2021, with additional countries to follow afterwards.

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