Biopsy Devices Market, By Product Type (Procedure Tray, Needle Based Biopsy Instruments, Liquid Biopsy Instruments, Biopsy Table, Biopsy Forceps, Others), By Biopsy Type (Bone marrow biopsy, Cone biopsy, Excisional biopsy, Liquid biopsy, Needle biopsy, Others), By Application (Prostate, Endometrial, Liver, Heart, Others), By End User (Hospital, Diagnostic Labs, Academic & Research Institutes), By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)

Published In : Dec 2023

Code : CMI220

Pages :180

Formats :

Excel and PDF

Industry : Medical Devices

Biopsy Devices MarketSize and Trends

The global biopsy devices market is expected to reach US$ 2,254.6 Mn by 2023, from US$ 3,503.1 Mn in 2030, at a CAGR of 6.5% during the forecast period.

Global Biopsy Devices Market- Trends

Adoption of robot-assisted biopsy procedures: The adoption of robot-assisted biopsy procedures is having a major influence on the biopsy devices market. With the introduction of robotic technology, biopsies can now be performed with increased precision, safety and accuracy. Robotic systems allow for minimally invasive procedures with 3D imaging and small instrument movements. This translates to reduced risk of complications for patients and shorter recovery times. For instance, in May 2022, UC Davis Health, one of America's leading cancer treatment hospitals, announced that its physicians performed the first single-anesthesia diagnosis and treatment of lung cancer in the UC Health System using a fully robotic approach. The robotic-assisted bronchoscopy approach enables the diagnosis and removal of a lung cancer mass in a single surgery. It reduces patients' anxiety and unnecessary waiting time.
Growth in liquid biopsy: Liquid biopsy trend has significantly influenced the biopsy devices market in recent years. With advancements in genomics and precision medicine, there is a growing preference for minimally invasive procedures over surgical biopsies. Liquid biopsy is an emerging technology that analyzes blood samples to detect cancer by finding DNA from tumor cells that are circulating in the bloodstream. This provides valuable information about any genetic mutations occurring in the cancer and helps doctors choose the most effective targeted therapies. Moreover, the adoption of organic growth strategies, such as new products launched adopted by market players, is anticipated to further bolster the market development. For instance, on November 1, 2023, Illumina Inc., a leader in DNA sequencing and array-based technologies, announced the launch of a new generation of its distributed liquid biopsy assay for genomic profiling. The TruSight Oncology 500 ctDNA v2 (TSO 500 ctDNA v2) research assay offers noninvasive comprehensive genomic profiling (CGP) of circulating tumor DNA (ctDNA) from blood when tissue testing is unavailable or to complement tissue-based testing.
Preferences shifting towards vacuum-assisted biopsy: The biopsy devices market has been witnessing a steady shift towards vacuum-assisted biopsy in recent times owing to its significant clinical benefits over traditional core needle biopsy procedures. Vacuum-assisted biopsies have emerged as a more accurate alternative for sampling breast lesions as they provide higher tissue sample quality and quantity for pathological examination. This helps achieve superior diagnostic accuracy, especially in differentiating between benign and malignant tumors, as compared to core needle biopsies.