The global biopsy devices market size is projected to reach USD 3.64 billion by 2030, expanding at a CAGR of 7.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Introduction of technologically advanced products, leading to increasing adoption of minimally invasive surgical procedures, is the key factor driving the market.
In addition, growing investments in the oncology field by government and non-government organizations are expected to positively impact market growth. For instance, in 2022, the American Institute for Cancer Research funded more than $110 million for research to ensure a future without cancer. Moreover, the organization supports the establishment of an Advanced Research Projects Agency for Health (ARPA-H) that is focused on accelerating cancer and biomedical research translation.
The COVID-19 pandemic led to a significant drop in biopsy procedures, especially in the first half of the pandemic. This represented a temporary negative impact on the sales of biopsy devices. The major factor responsible for this moderate downfall in sales was reduced patient visits to healthcare institutes as a precautionary measure to avoid being infected with the virus.
Gather more insights about the market drivers, restrains and growth of the Global Biopsy Devices Market
With economies returning to normalcy and the healthcare sector going back to majorly focusing on cancer research, the market recovered at a rapid pace. The biopsy market is further expected to witness significant growth over the forecast period due to constant advancements in the field of oncology and diagnostics.
Biopsy Devices Market Report Highlights
Needle-based biopsy guns held the largest market share in 2023 owing to surging demand for these devices to acquire samples from soft tissuesNew product launches of vacuum-assisted biopsy devices are further expected to accelerate the demand for needle-based biopsy guns over the forecast periodThe biopsy needles segment is expected to register a significant CAGR over the forecast period. It represents lucrative growth opportunities owing to the increasing adoption of these products and the launch of advanced productsNorth America dominated the market in 2023 due to the high penetration rate of technologically advanced products and the presence of key market players in the regionThe rising incidence of cancer coupled with high unmet patient needs is expected to propel the growth of the market extensively in the Asia Pacific regionBrowse through Grand View Research's Medical Devices Industry Research Reports.
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Grand View Research has segmented the global biopsy devices market report on the basis of product and region:
Biopsy Device Product Outlook (Revenue, USD Million, 2018 - 2030)
Needle-based Biopsy GunsVacuum-assisted Biopsy (VAB) DevicesFine Needle Aspiration Biopsy (FNAB) DevicesCore Needle Biopsy (CNB) devicesBiopsy Guidance SystemsManualRoboticBiopsy NeedlesDisposableReusableBiopsy ForcepsGeneral Biopsy ForcepsHot Biopsy ForcepsOthersBrushesCurettesPunchesBiopsy Device Regional Outlook (Revenue, USD Million, 2018 - 2030)
North AmericaS.CanadaEuropeK.GermanyFranceItalySpainDenmarkSwedenNorwayAsia PacificJapanIndiaChinaSouth KoreaThailandAustraliaLatin AmericaBrazilMexicoArgentinaMiddle East & AfricaSouth AfricaSaudi ArabiaUAEKuwaitOrder a free sample PDF of the Biopsy Devices Market Intelligence Study, published by Grand View Research.
