Biopsy Devices Market
Medical

Global Biopsy Devices Market: North America is expected to be the largest market for the global biopsy devices market

Biopsy is a medical test performed to examine and remove cancerous tissue from the body. Biopsy is mainly used to determine the presence or extent of a disease by surgical removal of tissue of an organ – mostly cancerous or inflammatory in nature. Biopsy is mainly performed by skilled surgeons, radiologists, and cardiologists, to confirm the presence of cancerous tissue. Various types of biopsy devices are available for the surgeons to be used on any organ in the human body. Traditional biopsy devices in combination with advanced imaging technologies such as MRI, ultrasound, CT scan, and others are used for their accuracy and minimal invasiveness in surgical procedures. Biopsies in critical areas of the body such as the lungs, liver, and kidneys require these type of integrated procedures.

Increasing incidence of various types of cancer, coupled with high awareness among the general population about chronic diseases in developed and developing economies are key factors driving growth of the global biopsy devices market. In addition, rising demand for minimally invasive procedures, and need for early diagnosis and treatment for chronic diseases are major factors expected to fuel growth to the global biopsy devices market over the forecast period.

However, high cost of advanced biopsy devices is a major factor restraining growth of the global biopsy devices market over the forecast period. In addition, stringent regulatory framework in developed countries for use of biopsy devices, coupled with issues pertaining to reimbursement are other major factors expected to hamper growth of the global biopsy devices market over the forecast period.

The global biopsy devices market report has been segmented on the basis of device type, application, imaging technology, end-user, and region. On the basis of region, into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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Currently, the market in North America dominates the global biopsy devices market in revenue terms owing to availability of appropriate equipment and infrastructure, high awareness among the general population about chronic disease diagnosis and treatment, and increasing incidence of chronic diseases in the region. Europe is currently the second-highest market in the global biopsy devices market, owing to increasing healthcare expenditure by governments of countries in the region, and relatively high disposable income among the general population. The market in Asia Pacific is projected to have the fastest growth in terms of revenue, owing to increase in number of patients suffering from chronic diseases, and rise in government initiatives for the improvement of healthcare facilities in the region.

Prominent players in the global market include C.R. Bard Inc., Leica Biosystems, Dickinson and Company, Ethicon EndoSurgery Inc., Fujifilm Medical Systems, Veran Medical Technologies, Boston Scientific Corporation, MDxHealth, Medtronic, Argon Medical Devices Inc.,and Intact Medical Corp.