Technological advancements in the field of a breast biopsy and the rising incidence of breast cancer are the major factors driving the growth of this market. Additionally, the growing adoption of advanced techniques for breast cancer screening and rising government and private investments for improving breast cancer care are some of the other significant factors driving the growth of this market.
What the Market Looks Like?
The report Breast Biopsy Market is projected to reach USD 1,094 million by 2025 from USD 725 million in 2020, at a CAGR of 8.6% during the forecast period.
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Market Segmentation: –
Based on the product, the breast biopsy market is segmented into biopsy needles, guidance systems, biopsy tables, localization wires, assay kits, liquid biopsy instruments, and other products. In 2019, the biopsy needles held significant share of the market. The major share of this segment is primarily attributed to the rising incidence of breast cancer and the growing breast cancer diagnosis rate in developing countries.
Based on guidance, the Breast Biopsy Devices Market is segmented into image-guided biopsy and liquid biopsy. The liquid biopsy segment is further divided into NGS-based, PCR-based, and Microarray-based biopsy. Among these, the NGS-based biopsy segment is expected to register significant growth over the forecast period.
Based on type, the Breast Biopsy Devices Market is segmented into needle breast biopsy, open surgical breast biopsy, and liquid breast biopsy. In 2019, the needle breast biopsy held a major share of the breast biopsy market. Needle biopsy has replaced conventional excisional biopsy as the standard diagnostic procedure for breast cancer.
What Drives the Market?
The growth of the global market for Breast Biopsy is primarily influenced by the following factors:
1 Growing incidence of breast cancer
2 Increasing number of breast cancer screening programs
3 Increasing demand for minimally invasive and non-invasive procedures
4 Growing awareness regarding early detection of breast cancer
5 Improved reimbursement scenario
Regional Analysis: –
The breast biopsy market is segmented into five regional segments, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North American region accounted for the largest share of the breast biopsy market in 2019.
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Top Key Players: –
The major players operating in the breast biopsy market are Hologic, Inc. (US), Becton, Dickinson and Company (US), Danaher Corporation (US), Merit Medical Systems (US), QIAGEN (Netherlands), Biocept Inc. (US), Bio-Rad Laboratories, Inc. (US), F. Hoffmann-La Roche Ltd (Switzerland), Menarini Silicon Biosystems, Spa (Italy), Exact Sciences Corporation (US), Illumina, Inc. (US), and Fluxion Biosciences Inc (US), among others.