Robotic Biopsy Devices Market Size Worth $703.7 Million By 2026

The global robotic biopsy devices market size is expected to reach USD 703.7 million by 2026, according to a new report by Grand View Research, Inc., registering a 11.3% CAGR over the forecast period. Rising cancer incidence and increasing demand for minimally invasive surgeries are leading factors contributing toward this growth. Moreover, growing need for high precision while performing biopsies of delicate organs, without distressing surrounding nerves, is expected to drive the market.

On the basis of product type, robot-assisted biopsy devices are classified into systems and instruments & accessories. The systems segment is expected to grow at the fastest pace over the forecast period. Increasing launch of innovative biopsy robots and growing acquisition activities among key players have supported the growth of this segment. For instance, in September 2018, XACT Robotics received a CE mark for its robotics system, which gave the company entry into the European market. Moreover, in April 2019, Johnson & Johnson acquired robotic start-up Auris Health and obtained ownership of its Monarch Platform.

The lung biopsy segment dominated the market in terms of application, with a revenue of USD 132.4 million in 2018. Rising incidence of lung cancer worldwide and need for higher precision devices are some of the major factors driving the market. Robot assisted devices enable surgeons to access deep nodules within the lungs, that are too small and difficult to access manually. Moreover, this segment is expected to witness the fastest growth over the forecast period owing to continuous rise in the number of tobacco smokers in many Asian and European countries.

North America dominated the market in 2018, owing to high healthcare spending, presence of major robot manufacturers in this region, and growing penetration of robotic devices in healthcare settings. On the other hand, the Asia Pacific region is anticipated to grow at the fastest rate over the forecast period, owing to ongoing research and development on robotics in countries such as Japan and South Korea, and rising incidence of cancer in the region.

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Further key findings from the report suggest:

• The global robotic biopsy devices market was valued at USD 302.5 million in 2018, driven by rising cases of cancer and growing adoption of robotic systems for cancer diagnosis

• The instrument & accessories segment dominated the market by product type in 2018, owing to increasing number of robot assisted surgeries

• The lung biopsy application segment was valued at USD 132.4 million in 2018, fueled by growing incidence of lung cancer across the globe

• Medtronic, Medrobotics, Renishaw plc, Mazor Robotics, and Medtech SA are some of the leading players operating in this market.

Grand View Research has segmented the global robotic biopsy devices market on the basis of product type, application, and region:

Robotic Biopsy Devices Product Type Outlook (Revenue, USD Million, 2014 - 2026)

• System

• Instrument & Accessories

Robotic Biopsy Devices Application Outlook (Revenue, USD Million, 2014 - 2026)

• Lung Biopsy

• Brain Biopsy

• Prostate Biopsy

• Others Biopsies

Robotic Biopsy Devices Regional Outlook (Revenue, USD Million, 2014 - 2026)

• North America

• U.S.

• Canada

• Europe

• Germany

• U.K.

• Spain

• France

• Italy

• Asia Pacific

• Japan

• China

• India

• South Korea

• Singapore

• Australia

• Latin America

• Mexico

• Brazil

• Argentina

• MEA

• South Africa

• Saudi Arabia

• UAE