Biopsy Devices Market
Biopsy Devices Market (Disposable & Reusable Needles, Hot & Cold Forceps, Needle-based Biopsy Guns, VAB, CNB, FNAB Devices, Guidance Systems) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018
Press Release :
Biopsy forms the first step in cancer diagnosis and subsequent treatment. The huge potential of the market for biopsy devices could be substantiated by its global market value of USD 1,347 million in 2011 and an expected CAGR of 6.6% from 2012 - 2018. North America is the leading regional market; however, with a remarkable growth rate, the Asian region is expected to record maximum growth due to the favourable demographic and economic conditions. C R Bard Inc. and Devicor Medical Products lead the biopsy devices market, closely followed by CareFusion Corporation and Hologic Inc.
The major product categories in this market include needle-based guns, needles, forceps, guidance systems and others. Needle-based biopsy guns form the fastest growing segment in this market. The market is largely driven by change in consumer preferences, such as shifting from reusable devices to disposable devices.
Growth of this market is directly proportional to the rate of cancer, which is growing rapidly, thus expanding the patient (consumer) base for biopsy devices. Majority of the cancer deaths globally can be prevented with early diagnosis and biopsy, enabling formulation of a proper treatment plan. Rising awareness and growing aging population are other major factors responsible for growth of this market globally.
C R Bard Inc. dominates the market with its subsidiary Bard Biopsy Systems dedicatedly involved in manufacturing and distribution of biopsy devices in the major regional markets of North America and Europe. Affordability of expensive healthcare surgeries in developed and affluent countries of North America and Europe has propelled innovation and research in the field of biopsy. Asia is expected to witness a high growth rate with its simultaneous increase in population and cancer rate. Continuous advancements in technology and economic development are other prime factors driving growth of the biopsy devices market in Asia.
This study begins with an overview of the global biopsy devices market and goes on to present historical data, an in-depth analysis of pivotal market trends, and growth projections through 2018. The biopsy devices market is meticulously segmented into broad categories (based on product type and geography) and more specific sub-categories for the purpose of the study. Since patents influence the dynamics of the biopsy devices market to a significant degree, key patents are evaluated by TMR analysts as part of this study. Analysis is supported by primary and secondary research, complete with statistical data from the most coveted databases in the industry.
As mentioned earlier, the report segments the biopsy devices market based on product type and geographical region. By product type, the market is segmented into: Needle-based biopsy guns, biopsy needles, biopsy forceps, biopsy guidance systems, and others. Each of these segments is further drilled to the third level for a highly detailed analysis. On the basis of geography, the market is split into: North America, Europe, Asia Pacific and Rest of the World (RoW).
As rising incidences of cancer up the need for reliable diagnostics, the role of the biopsy devices market cannot be undermined. This report has been designed for key stakeholders in the global biopsy devices market. The compounded annual growth rate (CAGR) of the market has been provided in percentage (%), and market size has been estimated for the period 2012 through 2018 in USD million. From suppliers of raw material to biopsy device manufacturers to hospitals, the report touches upon every critical aspect of the supply chain within the biopsy devices market.
Overview of the Global Biopsy Devices Market
The findings of this report show that the global biopsy devices market was worth US$ 1.3 billion in 2011. The market is projected to attain a CAGR of 6.6% from 2012 through 2018, touching US$2.1 billion by 2018.
As humans live longer, they are exposed to numerous factors that increase their chances of being diagnosed by cancer. This is a key propeller for the global biopsy devices market, which thrives on the growing incidence of cancer and the need to diagnose this disease effectively. However, biopsy devices are also central to the post-diagnosis phase, where regular screenings are advised and the need for minimally invasive procedures may in fact, recur.
As patients become more aware-and concerned-about infectious diseases that can be transmitted via invasive diagnostic and treatment tools, the demand for disposable needs and devices is on an upswing. The report identifies needle-based guns as being the segment with the highest projected growth over the forecast period, at a CAGR of 8%. Within the needle-based guns segment, there is a high preference for vacuum-assisted biopsy (VAB) devices that are not only minimally invasive, but also highly efficient. Through 2018, the biopsy guidance systems segment will continue to hold a dominant position in the overall biopsy devices market, in terms of revenue. In 2011, this segment stood at US$607.5 million.
North America was the largest regional player in the global biopsy devices market in 2011, but will be outpaced by Asia Pacific by 2018. The latter is projected to exhibit a strong CAGR of 10.5% through the forecast period.
Companies mentioned in the biopsy devices market study
As of 2011, C.R. Bard, Inc constituted the largest share of the biopsy devices market. This report profiles players such as: CareFusion Corporation, Devicor Medical Products, Inc and Hologic, Inc.
Biopsy Devices Market, by Product Type
- Needle-based Biopsy Guns
- Vacuum-assisted Biopsy (VAB) Devices
- Core Needle Biopsy (CNB) Devices
- Fine Needle Aspiration Biopsy (FNAB) Devices
- Biopsy Needles
- Biopsy Forceps
- Cold (General) Biopsy Forceps
- Hot Biopsy Forceps
- Biopsy Guidance Systems
- Manual Systems
- Robotic Systems
- Biopsy Brushes
- Biopsy Punches
- Biopsy Curettes
Major geographies analyzed under this research report are:
- North America
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments