Global Biopsy Devices Market: Analysis and Overview for 2023-2027

06 Nov 2023

Biopsy devices are in high demand due to increased biopsy procedures. Various biopsy devices are employed based on the anatomy and biopsy type. Biopsy devices collect tissue samples from multiple locations within or on the body, which includes skin, breasts, kidneys, lungs, and liver. The improved accuracy and safety offered by biopsy procedures led to the development of innovative and more effective biopsy devices.

BIS Research forecasts the global biopsy devices market to reach $11.86 billion in 2027, from $5.85 billion in 2022, growing at a CAGR of 15.15% during the forecast period 2023-2027.

Global Analysis of Biopsy Devices Market

The global biopsy devices market is registering significant growth, with a valuation of over $6 billion in 2023. The contributing growth drivers include the rising incidence of cancer cases, growing awareness for non-invasive tests, adoption of inorganic growth strategies by established companies, and increased funds for research from organizations such as the U.S. National Institute of Health.

Moreover, the biopsy devices market offers multiple opportunities, which new entrants and companies can leverage to benefit from the growing market value. The advent of advanced biopsy devices and virtual biopsies, which are quicker, cost-effective, and provide safety, present market opportunities.

Virtual biopsy, in detail, is a non-invasive imaging method that deciphers data from medical scans to provide probability-based insights for cancer assessment, diagnosis, grading, treatment planning, and prognosis. It negates the necessity for surgical procedures.

In contrast, factors such as the risk of infection from the biopsy procedure, the high cost of the procedure, and the dynamic regulatory and reimbursement scenario for liquid biopsy prohibit the growth of the biopsy device market.

Global Biopsy Devices Market Segmentation

The global biopsy device market is segmented based on region, types of products, biopsy procedures, diseases, anatomy, and guidance techniques.

The presence of significant market players and the rising incidence of target disease groups has made the Americas the leading region. Americas held the largest share of 52.70% in 2022 the global biopsy devices market. Moreover, the EMEA region follows, as the GLOBOCAN statistics predict, the incidence of cancer in EU5 (Germany, Italy, France, the U.K., and Spain) to increase by 94.13% in 2040.

Based on product type, the liquid biopsy segment accounted for the largest share of 53.38% in the global biopsy devices market in 2022, and it is expected to grow at a CAGR of 21.08% during the forecast period 2023-2027. A liquid biopsy helps analyze tumor-related information through a simple blood test intended to be used as an early detection tool for cancer. The other potential oncology applications of liquid biopsies comprise recurrence and treatment monitoring coupled with non-oncology applications such as prenatal screening.

Moreover, based on guidance techniques, the global biopsy device market has been segmented into ultrasound-guided, X-ray-guided, MRI-guided, and CT-guided. The X-ray-guided biopsy segment accounted for the largest share of 41.00% in the global biopsy devices market in 2022, and it is expected to grow at a CAGR of 4.68% during the forecast period 2023-2027.

Key Developments in Global Biopsy Devices Market

On October 17th, 2023, Praxis Medical received FDA clearance for its EndoCore EBUS-TBNA exemplary needle biopsy device. This device is designed to improve the diagnosis and staging of lung cancer through endobronchial ultrasound with transbronchial needle aspiration (EBUS-TBNA). The EndoCore features a unique rotary motion to collect larger tissue samples, enhancing the sensitivity and diagnostic capabilities of the procedure. This advancement will benefit patients with rare tumors, metastatic disease, lymphoma, and benign conditions like sarcoidosis.

On October 18th, 2023, at a press conference in Seoul, IMBdx, a Korean company specializing in early cancer diagnostics, presented its AlphaLiquid Platform, a liquid biopsy technology based on next-generation sequencing. This liquid biopsy approach uses blood, urine, or cerebrospinal fluid instead of traditional tissue samples for cancer diagnosis. IMBdx's AlphaLiquid can examine 118 cancer-related genes from a single blood sample, facilitating personalized precision treatment.

In August 2023, Hackensack Meridian Bayshore Medical Center acquired the world's first breast biopsy platform. This Hologic Brevera system combines vacuum-assisted tissue acquisition, real-time imaging, verification, and post-biopsy handling in an integrated approach. This technology, available in only a few centers in New Jersey, offers faster, more comfortable, and less invasive breast biopsies. It allows for real-time X-ray imaging during the procedure, reducing the need for multiple tissue samples and ensuring more accurate specimen retrieval, ultimately leading to improved patient experiences and shorter wait times.

The Future Forecast

The global biopsy devices market is set for exponential growth and is expected to reach $11.86 billion in 2027. Factors such as reduced patient discomfort, quicker recovery, and broader applications beyond cancer diagnosis are driving the market towards minimally invasive needle-based biopsies. Moreover, integrating advanced imaging technologies, such as MRI and PET scans, with biopsy procedures enhances precision and patient outcomes.

Interested to know more about the growing technologies in your industry vertical? Get the latest market studies and insights from BIS Research. Connect with us at [email protected] to learn and understand more.

 
 
 

OUR CLIENTS