The global biopsy devices market size was valued at USD 1,511.3 million in 2013. Growing prevalence of cancer coupled with high unmet patient needs has heightened the importance of accurate diagnostic procedures. The procedure caters to this increasing importance and therefore, is expected to witness a rapid rise in demand over the next six years.
U.S. biopsy devices market, by product, 2012 - 2020 (USD Million)
The life expectancy of people is increasing due to the presence of sophisticated healthcare infrastructure and rising disposable income levels. This leads to increase in the base of the geriatric population with target diseases, which is expected to drive the biopsy devices industry. The increase in age also leads to decrease in immunity levels making people more prone to various infectious diseases.
According to the statistics published by the International Agency for Research on Cancer, WHO, the global incidence of cancer (excluding non-melanoma skin cancer) in 2012 amounted to 14.1 million. This incidence rate is expected to reach 23.6 million by 2030. Growth in prevalence clearly indicates a rise in the number of procedures.
The demand for minimally invasive procedures is on a rise. These procedures result in fewer traumas to the patient and quicker recovery than invasive procedures. Needle-based biopsies enable minimally invasive screening of tumors before opting for complex surgical procedures which is expected to fuel the industry growth.
Key product segments include guidance systems, needle based guns, needles, and forceps. In 2013, guidance system accounted for over 40% of total demand, majorly owing to high prices associated with robotic guidance systems. Growing prevalence of cancer, increasing demand for accurate and minimally invasive devices and the introduction of technologically advanced and user-friendly products are the factors attributing for its high share.
Needle based guns are the most lucrative segment. Increasing demand for biopsy guns for acquiring samples from soft tissues such as internal organs like breasts, kidneys, lungs and prostate gland and bone marrow tissue is expected to drive the industry growth during the forecast period.
The introduction of technologically advanced products such as Aspiration syringe gun by INRAD Inc. is also expected to drive growth over the forecast period. Technologically advanced and efficient products such as Vacora and Finesse Ultra Breast System by BARD and Celero VAB by Hologic Inc. and the increasing popularity of vacuum assisted products, especially in the U.S., Canada, and Japan are also expected to boost the biopsy devices industry growth during the forecast period. The industry is also expected to witness growth owing to, the increasing use of fine needle aspiration and core needle devices.
North America biopsy devices market dominated overall demand in terms of revenue share in 2013 over 60%, majorly due to the presence of sophisticated healthcare infrastructure, favorable government initiatives, and presence of high awareness levels of patients and practitioners.
Europe biopsy devices market also enjoys a high degree of product penetration. The large presence of a geriatric population in the developed Western European region is also expected to contribute towards the increase in cancer prevalence. High penetration of technologically advanced devices and the presence of government initiatives aimed at encouraging individuals to undertake regular cancer screening are expected to fuel future growth especially, in segments such as needle-based procedure.
Asia-Pacific is expected to grow at the fastest CAGR of over 12.0% during the forecast period owing to, the presence of high unmet patient needs, coupled with rapidly improving healthcare infrastructure in the emerging countries of India and China is expected to drive regional growth According to the World Health Organization (WHO), the number of cancer deaths annually in Asia, may reach 6.4 million by 2030, from 4 million in 2007.
High penetration of technologically advanced devices and the presence of government initiatives aimed at encouraging individuals to undertake regular cancer screening are expected to fuel the growth over the forecast period.
Companies that dominate market share include Angiotech, Cardinal Health Inc, Carefusion Corporation, C.R. Bard Inc, Devicor Medical Products Inc, DTR Medical, Hologic, Inc and INRAD, Inc.
The industry is marked by the introduction of technology innovation, such as Breeze Vacuum Biopsy Systems by Cardinal Health Inc, ProMag Ultra Automatic Instrument by Angiotech Pharmaceuticals Inc, and Affirm breast biopsy devices by Hologic Inc.
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