Biopsy Devices Market

Rising prevalence of cancer to boost market growth

A biopsy is a type of diagnostic procedure used to find both malignant and non-cancerous abnormalities in the human body. The global market for biopsy devices is projected to expand due to the rising incidence of cancer in the population. For instance, cancer is the second-leading cause of death in the US after heart disease and is the primary cause of death in Canada. According to the American Cancer Society, there were 693,000 cancer fatalities and 1.9 million new cancer diagnoses in 2018.

In North America, prostate cancer is the disease that is most frequently diagnosed in men, but breast cancer continues to be the most common cancer in women. Lung cancer continues to be the leading cause of death in both sexes. One of the main causes of the population's cancer incidences rising is the rapid change in lifestyle, as well as the intake of alcohol and cigarette products. Boston Scientific Corporation, BD, Qiagen, F. Hoffman La-Roche Ltd., Hologic, and other significant manufacturers of biopsy instruments and related products for the diagnosis of cancer and other disorders.

Hence, it is anticipated that the global market for biopsy instruments will expand due to the rising incidence of cancer worldwide.

The Global Biopsy Devices Market Industry is poised for substantial growth, with projections indicating a market value of 5.2 USD Billion by 2035. This growth is underpinned by a compound annual growth rate of 5.75% from 2025 to 2035, reflecting increasing demand for biopsy procedures across various medical fields. The expansion of healthcare facilities and advancements in technology are likely to drive this trend, as healthcare providers seek efficient and effective diagnostic solutions. The market's trajectory suggests a robust future, characterized by innovation and enhanced patient care.

The increasing prevalence of cancer globally is a primary driver for the Global Biopsy Devices Market Industry. As cancer cases rise, the demand for accurate diagnostic tools, including biopsy devices, intensifies. For instance, the World Health Organization indicates that cancer is one of the leading causes of death worldwide, necessitating early detection and intervention. This trend is expected to propel the market, with projections suggesting a market value of 2.81 USD Billion in 2024, reflecting the urgent need for effective biopsy solutions.

Innovations in biopsy technologies significantly enhance the capabilities of the Global Biopsy Devices Market Industry. Advanced imaging techniques, such as MRI and CT-guided biopsies, improve precision and reduce patient discomfort. Additionally, the development of minimally invasive biopsy devices, such as core needle and vacuum-assisted systems, allows for quicker recovery times and better patient outcomes. These advancements are likely to attract healthcare providers, contributing to a projected market growth to 5.2 USD Billion by 2035, indicating a robust demand for cutting-edge biopsy solutions.

The aging population worldwide is a crucial factor driving the Global Biopsy Devices Market Industry. Older adults are at a higher risk for various diseases, including cancer, thereby increasing the need for diagnostic procedures like biopsies. According to demographic studies, the global population aged 65 and older is expected to reach 1.5 billion by 2050. This demographic shift is likely to result in a heightened demand for biopsy devices, supporting a compound annual growth rate of 5.75% from 2025 to 2035, as healthcare systems adapt to the needs of an aging society.

Rising healthcare expenditure across various regions is propelling the Global Biopsy Devices Market Industry. Governments and private sectors are investing more in healthcare infrastructure, leading to improved access to diagnostic services. For example, countries in North America and Europe are allocating substantial budgets to enhance cancer screening programs, which include biopsy procedures. This increase in funding is likely to facilitate the adoption of advanced biopsy technologies, contributing to the market's growth trajectory, with expectations of reaching 5.2 USD Billion by 2035.

The role of regulatory bodies in approving and supporting advanced biopsy devices is pivotal for the Global Biopsy Devices Market Industry. Regulatory agencies, such as the FDA, are streamlining the approval processes for innovative biopsy technologies, thereby encouraging manufacturers to invest in research and development. This supportive regulatory environment fosters innovation and enhances market entry for new products. As a result, the market is poised for growth, with a projected value of 2.81 USD Billion in 2024, reflecting the positive impact of regulatory initiatives on the industry.

By Region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. The growth of the North America Biopsy Devices market is attributed to the high market penetration rates of cutting-edge products, like vacuum-assisted biopsy systems, and a quickly rising market demand for disposable products.

Further, the major countries studied are: the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: BIOPSY DEVICES MARKET SIZE BY REGION 2023 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

North America Biopsy Devices market accounts for the largest market share due to the presence of well-established market players in the nation, high market penetration rates of cutting-edge products, like vacuum-assisted biopsy systems, and a quickly rising market demand for disposable products. Furthermore, the US market of Biopsy Devices held the largest market share and the Canada market of Biopsy Devices accounted for the second largest market in North America.

The inclination for minimally invasive procedures, an increase in cancer incidence globally, and government initiatives for diagnosis in this region are the driving forces behind the growth of the biopsy instruments market.

The Asia-Pacific Biopsy Devices Market is expected to grow at the highest rate from 2023 to 2030. This is due to the rising incidence of cancer, the big populations in nations like China and India, the improved healthcare infrastructure, increased healthcare spending and government initiatives, and the increasing attention of major market participants in the region are all contributing to the segment's rise. Moreover, the China market of Biopsy Devices held the largest market share, and the Japan market of Biopsy Devices was the fastest-growing market in the Asia-Pacific region.

Many global, regional, and local vendors characterize the biopsy device market. The market is highly competitive, with all the players competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront market growth. The vendors compete based on cost, product quality, reliability, and government regulations. Vendors must provide cost-efficient, high-quality polyamide products to survive and succeed in an intensely competitive market.

The market vendors’ growth depends on market conditions, government support, and industry development. Thus, the vendors should focus on expanding geographically and improving services. Argon Medical Devices (US), BD (US), Cook Medical (US), CONMED Corporation (US), Olympus Corporation (Japan), Hologic, Inc. (US), Cardinal Health Inc. (US), Integra LifeSciences (US), Medtronic plc (US), Mammotome (US), INRAD (US), and Trivitron Healthcare (India) are the major companies in the market that compete in terms of availability, quality, price, and technology. They primarily focus on the development of biopsy device products.

Although international players dominate the market, regional and foreign players with small market shares also have a presence. The international players may strengthen their presence worldwide through acquisitions during the forecast period.

Argon Medical Devices (US) is a global medical technology company that specializes in the development, manufacturing, and marketing of medical devices for interventional procedures. The company has a strong focus on providing innovative, high-quality products to healthcare professionals, and improving patient care. Argon Medical Devices offers a wide range of products, including vascular access devices, biopsy and drainage devices, and peripheral vascular devices.