The market for breast biopsy is expected to grow at a CAGR of around 7.4% from 2020 to 2027 and expected to reach the market value of around US$ 1,296 Mn by 2027.
Breast biopsy is a medical procedure during that a sample of breast tissue is removed and sent to a laboratory for testing. The procedure is best suitable for evaluating breast if it has lumps or the portion of it is cancerous. The sample is used by doctors to identify and diagnose abnormalities in the cells that make up breast lumps, other unusual breast changes, or suspicious or concerning findings on a mammogram or ultrasound. Moreover, the risks associated with the breast biopsy include bruising and swelling of the breast, infection or bleeding at the biopsy site, and altered breast appearance.
The growing incidence of breast cancer due to changing women's lifestyles is driving the market growth. The increasing number of breast cancer screening programs simultaneously increasing demand for minimally invasive and non-invasive procedures is accelerating the market growth. The growing awareness regarding early detection of breast cancer as well as improved reimbursement scenario is bolstering the market value. Furthermore, emerging economies offer high growth potential, the emergence of liquid biopsy and promising clinical trials, and increasing public-private investments and funding are the factors projected to create potential opportunities over the forecast period from 2020 to 2027.
On the other side, the risk of infections associated with the use of biopsy needles and stringent regulatory approval procedures are projected to hinder the growth during the forecast timeframe from 2020 to 2027.
Segment Instance of Global Breast Biopsy Market
North America accounted for the maximum revenue share in the global market
In 2019, North America is leading the breast biopsy market owing to its highly developed infrastructure and awareness among women about the procedures. The US accounted for the dominating share (%) in the regional market. According to the American Cancer Society and the National Cancer Institute estimated of 2018, over 265,000 new cases of invasive breast cancer were diagnosed among women in the US, with 63,960 new cases of non-invasive (in situ) breast cancer. Moreover, one in eight women develops invasive breast cancer for her lifetime in the US.
Asia Pacific is anticipated to exhibit fastest growth over the forecast period from 2020 to 2027
Asia Pacific region along with its major economies is expected to experience the fastest growth over the forecast period from 2020 to 2027. The developing healthcare infrastructure, increasing discretionary income, rising awareness among women about the procedure, and increasing investment by the regional players are driving the market growth. The increasing number of hospitals are focusing on the advancement of their infrastructure by including advanced products for serving people with effective and efficient Guidance.
Prominent Market Players
The players profiled in the report include Argon Medical Devices, Becton and Dickinson Company, Cook Medical Incorporated, Danaher Corporation, Encapsule medical Devices LLC., Ethicon Endo Surgery (Johnson & Johnson), Gallini SRL, Hologic Inc., Intact Medical Corporation, Medtronic, Thermo Fisher Scientific, Inc., and F. Hoffmann-La Roche Ltd.
Market By Product
Liquid Biopsy Instruments
Market By Type
Needle Breast Biopsy
Open Surgical Breast Biopsy
Liquid Breast Biopsy
Market By Guidance
Market By Application
Early Cancer Screening
Market By Geography
Middle East & Africa
The market for breast biopsy is expected to reach a market value of around US$ 1,296 Mn by 2027.
The breast biopsy market is expected to grow at a CAGR of around 7.4% from 2020 to 2027.
The biopsy needles, guidance systems, biopsy tables, localization wires, assay kits, liquid biopsy instruments, and others are the leading the market with maximum revenue share.
The growing incidence of breast cancer due to changing women lifestyle, increasing number of breast cancer screening programs, increasing demand for minimally invasive and non-invasive procedures, growing awareness regarding early detection of breast cancer, and improved reimbursement scenario are some of the factors driving the market growth.
Argon Medical Devices, Becton and Dickinson Company, Cook Medical Incorporated, Danaher Corporation, Encapsule medical Devices LLC., Ethicon Endo Surgery (Johnson & Johnson), Gallini SRL, Hologic Inc., Intact Medical Corporation, Medtronic, Thermo Fisher Scientific, Inc., and F. Hoffmann-La Roche Ltd.
North America held the highest market share in the breast biopsy market
Asia Pacific is expected to be the fastest growing market over the forecast period