The global breast biopsy device market size is poised to grow by USD 504.94 million during 2020-2024, progressing at a CAGR of about 10% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Breast Biopsy Devices Market 2020-2024 (Graphic: Business Wire)
The rising incidence rate of breast cancer has been providing significant business growth opportunities to market vendors. Prominent vendors in the market are focusing on expanding their product portfolios and obtaining approvals for their offerings. They have been leveraging various platforms such as conferences to gain exposure and increase awareness about breast cancer. Furthermore, various governments and private organizations are providing funding and grants to vendors to create innovative products with technologically advanced solutions to detect breast cancer at early stages. These factors will significantly contribute to the market growth over the forecast period.
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The major breast biopsy device market growth came from the biopsy needles and systems segment. Breast biopsy needles are primarily used for collecting breast tissue from the suspicious areas of the breast during a breast biopsy. Needle biopsies are majorly performed as minimally invasive biopsy procedures for a better assessment of breast cancer in an outpatient setting. The need for highly skilled operators to handle imaging modalities and the reduced technical complexities of this method are driving the demand for breast biopsy needles for the extraction of normal tissues for biopsy.
North America was the largest breast biopsy devices market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. High technology adoption among the healthcare sector, increasing healthcare expenditure, the prevalence of breast cancer, and awareness among patients about mammograms that helps to identify breast cancer incidence will significantly drive breast biopsy devices market growth in this region over the forecast period.
The global breast biopsy device market is concentrated. Argon Medical Devices Inc., Becton, Dickinson and Co., Carestream Health Inc., Danaher Corp., FUJIFILM Holdings Corp., General Electric Co., Hologic Inc., Planmed Oy, Scion Medical Technologies LLC, and Siemens Healthineers AG are some of the major market participants. To help clients improve their market position, this breast biopsy device market forecast report provides a detailed analysis of the market leaders.
As the business impact of COVID-19 spreads, the breast biopsy device market 2020-2024 is expected to have Positive and Superior growth. As the pandemic spreads in some regions and plateaus in other regions, we reevaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/breast-biopsy-devices-market-size-industry-analysis
Shift Toward the Adoption of Breast Biopsy Robot Systems will be a Key Market Trend
The shift toward the adoption of breast biopsy robot systems is one of the key breast biopsy device market trends. The demand for accurate and efficient surgical procedures has increased the demand for robotic platforms, surgical navigation systems, and artificial intelligence in breast biopsy devices. Vendors are focusing on developing technologically advanced equipment to reduce human errors and improve the quality of the breast biopsy process. AI-enabled devices can help doctors in obtaining accurate data and providing efficient screening to patients.
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Breast biopsy device Market 2020-2024: Key Highlights
CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will assist breast biopsy device market growth during the next five years
Estimation of the breast biopsy device market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the breast biopsy device market
Analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of breast biopsy device market vendors
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Value chain analysis
Market segment analysis
Market size 2019
Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
Five forces summary
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market Segmentation by Product
Comparison by Product
Biopsy needles and systems - Market size and forecast 2019-2024
Biopsy image-guided systems - Market size and forecast 2019-2024
Others - Market size and forecast 2019-2024
Market opportunity by Product
Market Segmentation by End-user
Breast cancer specialty centers and clinics
Market Segmentation by Modality
Stereotactic X-ray guided breast biopsy
Ultrasound-guided breast biopsy
MRI-guided breast biopsy
North America - Market size and forecast 2019-2024
Europe - Market size and forecast 2019-2024
Asia - Market size and forecast 2019-2024
ROW - Market size and forecast 2019-2024
Key leading countries
Market opportunity by geography
Market positioning of vendors
Argon Medical Devices Inc.
Carestream Health Inc.
FUJIFILM Holdings Corp.
General Electric Co.
Scion Medical Technologies LLC
Siemens Healthineers AG
Scope of the report
Currency conversion rates for US$
List of abbreviations
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