Reports And Data

High prevalence of breast cancer, increasing awareness, innovative product launches, increasing strategic developments

NEW YORK, NY, UNITED STATES, November 12, 2021 /EINPresswire.com/ -- The recent study of reports and data suggests that the Breast Biopsy Device Market is expected to attain a market value of USD 1.51 Billion by 2027 the end the forecast frame registering a CAGR of 10.8%. Breast Biopsy refers to a diagnostic procedure to determine whether a small sample removed from the breast tissue is cancerous. It is regarded as the most effective methods for cancer diagnosis. It is found that about 70-80% of the biopsies are negative of cancer, but may diagnose conditions that are predispose to mammary carcinoma. Breast biopsy is recommended when a person is facing symptoms like a breast lump, sore breast, breast dimpling, peel appearance to breast and nipple discharge etc. The invasive surgical methods for breast biopsy has been found to be disadvantageous as it is painful and the patient will have to bear the psychological stress of false positive referrals.

The increasing vulnerability of women to mammary carcinoma in all the economies, along with the awareness drives and screenings conducted in favor of women have propelled the demand side of the breast biopsy market. The extensive and exhaustive research environment acts as an impetus to the market which has aided in evolving more accurate and minimally invasive methods for the early diagnosis of mammary carcinoma. The governments have also worked towards building a continuous and comprehensive environment for cancer research which has fueled the growth of these diagnostic devices. Also favorable reimbursements in this regard has improved the state of this market drastically. The growth of these diagnostic devices are impeded by the prevalence of side effects and infections after the biopsy. Stringent regulations by the USFDA and other notifying authorities along with high cost of these services have worked against the unrestricted growth of the market.

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Some of the key companies operating in the global Breast Biopsy Device market are:

Becton, Dickinson and Company, C.R. Bard, Inc., Devicor Medical Products Inc., Hologic Inc., Argon Medical Devices, Cook Medical Incorporated, Encapsule Medical Devices LLC, Planmed OY, and Ethicon Endo Surgery (Johnson and Johnson), among others.

The pharma and healthcare sector is rapidly growing in the recent past and is expected to register substantial revenue share over the forecast period of 2028. Factors such as technological developments in the healthcare and pharma field, improving healthcare infrastructure and increasing healthcare expenditure are key factors boosting market growth. The market dynamics have completely changed after the outbreak of COVID-19 pandemic. Increasing prevalence of various chronic diseases, high occurrence of diabetes, cancer and cardiovascular disorders and rising number of accidents across the globe are fueling growth of the global Breast Biopsy Device market. In addition, increasing investments in research and development activities, high adoption of personalized medicines and ongoing research on drug discovery are further boosting market growth.

The report is curated using extensive primary and secondary research which is thoroughly evaluated by industry experts and professionals. Advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, and investment return analysis are used to obtain the report data. This data is represented through various diagrams, graphs, tables, and charts to help the reader understand the market dynamics accurately. The report also provides information about each market player, its global position, business expansion plan financial status, license agreement, and product and services portfolio.

Further Key Finding from the report

• The mammary carcinoma is found to be the most common invasive cancer among women and affects women in both developed and developing countries. Hence the target consumers for breast biopsy is women above the age of 40. The growing awareness of breast cancer has fueled the demand for this market

• The American Cancer society has confirmed that there has been a decline in deaths caused by breast cancer reason being that cancer have been detected earlier through mammography, making it the most effective screening method

• Thermography was popularized as it was a method to produce infrared images of head and blood flow near the surface of the body, but it was found that it lacked the ability to detect cancer at the early stage

• Advancements and innovations are carried out in the product segment. Stryker, an innovator in the given field have brought in PreciseCore needles which have been used for improved precision and minimal tissue damage.

• Asia-Pacific regional segment of the breast biopsy market is expected to remain highest growing segment during 2019-2026, at a CAGR of 12.1%; owing it to increase in medical awareness and untapped opportunities in India and China due to rising pool of vulnerable geriatric women with awareness about mammary carcinoma. However, conventional methods like surgery and needle rule the market.

• Currently the vacuum assisted breast biopsy has dominated over the market and is the fastest growing segment as it overcomes the drawbacks of the conventional needle based methods which is inherently characterized with inaccuracy. It is growing at a CAGR of 10.9%.

• Key players involve themselves in the innovative product launch, market expansions and strategic acquisitions to capitalize their market share

• As far as end users are concerned, hospitals are the second largest market share holder. This can be attributed to the availability of highly skilled personnel and favorable reimbursements

• Ultra sound breast biopsy is considered to be the fastest growing as far as guidance of imaging is concerned. This is due to the accuracy in imaging and the lack of discomfort occurred during biopsy being non-invasive

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Segments covered in the report:

This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the Breast Biopsy market on the basis of Type, product, guidance, end use and regional outlook

Type (Revenue, USD Million; 2017–2027)

• Needle Breast Biopsy
o Vacuum Assisted Surgery
o Core needle Biopsy
o Fine Needle Aspiration Biopsy
• Open Surgical Breast Biopsy
o Incisional
o Excisional

Product (Revenue, USD Million; 2017–2027)

• Biopsy Needles
• Biopsy Tables
• Guidance Systems
• Localization Wires
• Punches
• Markers
• Sutures

Guidance Type (Revenue, USD Million; 2017–2027)

• Mammography
• Ultra sound
• MRI
• CT scan
• Others

End Use (Revenue, USD Million; 2017–2027)

• Diagnostic Clinic
• Hospitals
• Others

Regional Outlook:

• North America (U.S., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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