Medical tests involving the extraction of a sample of tissues or cells from the human body for diagnostic and interventional purposes is known as biopsy. These tests are generally carried out by radiologists or surgeons to detect or to conduct interventional procedures pertaining to cancer. Cancer is defined as any abnormal growth of cells in the body and it can affect any of the cardiovascular, muscular, neurologic, respiratory, gastro-intestinal, dermatologic or genital tissues or organs. Depending on the sample of tissue removed, biopsy can be segmented into three categories namely excisional (when the entire area under suspicion is removed), incisional (only sample of tissue is removed) and needle aspiration (tissue is removed from body fluids such as lymph, cerebro-spinal fluid or other exudates). Increasing patient awareness levels, growing demand for minimally invasive procedures and global prevalence of cancer are expected to serve this market as a high impact rendering driver. According to the WHO the global prevalence of cancer is expected to increase by approximately 75% and is expected to cause around 13.1 billion deaths by 2030. The global market for biopsy devices is valued at over USD 1,500 million and is expected to grow at a CAGR of 6.4% from 2014 to 2020.
The global biopsy devices market is segmented into five major products namely biopsy guidance systems, biopsy needles, needle-based biopsy guns, biopsy forceps and other smaller devices including brushes, curettes and punches. Biopsy guidance systems segment dominated the overall market in terms of share at over 40% in 2013. Growing demand for user friendly, relatively smaller and semi-automatically operated devices and the introduction of technological advancements such as robotic guidance systems are some of the major factors attributing to its large share. Biopsy guidance systems comprise of imaging equipment, biopsy guns, display units and other accessories and can be segmented into two major sub segments namely manually controlled and robotic systems. Needle based biopsy guns accounted for the second largest share in 2013. These are handheld devices used to collect tissue samples from target sites in order to perform diagnostic examinations. This segment is further sub-categorized into vacuum assisted biopsy devices (VAB), core needle biopsy devices (CNB) and fine needle aspiration biopsy devices (FNAB). Growing demand for semiautomatic and automatic systems is expected to serve this segment as a key market driver. The needle-based biopsy guns segment is expected to grow at the highest CAGR of over 7% in the next six years on account of their minimally invasive nature.
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North America, Europe, Asia Pacific and RoW constitute the geographic segmentation of this market. North America dominated the market with a revenue share of over 60.0% in 2013 owing to the presence of sophisticated healthcare infrastructure, reimbursement framework, high healthcare expenditures and growing prevalence of cancer. Europe followed North America in terms of revenue share in 2013 on account of the presence of high patient awareness levels in Western European countries and the presence of large untapped opportunities in Eastern Europe. Asia Pacific on the other hand is expected to grow at the highest CAGR of over 10.0% during the forecast period. Presence of high unmet medical needs, growing healthcare expenditures and a constantly improving healthcare infrastructure are some of the factors accounting for its rapid growth.
The global biopsy devices market is oligopolistic in nature with players such as C.R Bard, Care Fusion Corporation, Hologic Inc. and Devicor Medical Products Inc. accounting for over 90% of the total revenue. Some of the other players of this market include DTR medical, Angiotech, UK Biopsy, Cardinal Healthcare Inc. and INRAD Inc.