Biopsy Devices Market Qualitative Insights, Key Enhancement, Share Forecast To 2026
A biopsy is a sample of tissue taken from the body for in-depth analysis of the sample to reach an effective diagnosis of a condition, wherein conventional diagnostic methods such as x-rays and body scans do not provide any conclusive evidence. Biopsies are usually carried out to detect cancer, though their application is not restricted to it. This procedure is mostly performed by interventional radiologists, cardiologist and surgeons. Biopsy might be recommended in one of the following condition, among others:
A mammogram shows a lump or mass, indicating the possibility of breast cancer
A mole on the skin has changed shape recently and melanoma is possible
A person suffers from chronic hepatitis and possibility of cirrhosis needs to be ruled out
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Global Biopsy Devices Market Outlook: Burgeoning growth in incidence rate of cancer fueling demand for preventive tests
High incidence of cancer is one of the main factor responsible for growth of the biopsy devices market. As per statistics released by the World Health Organization (WHO), around 14 million new cases of cancer were reported worldwide in 2012, with incidence rate expected to surge by exponentially by 70% over the following two decades. Furthermore, growing geriatric population characterized by a weak immune system,
across the globe and increasing consumer health awareness leading to increasing preventive screening are other factors inadvertently fueling growth of the biopsy device market. Apart from this, stringent regulations posed on the companies in terms of labelling, designing and performance issues, as well as high cost of the devices are the major restrain factors which are hampering market growth. One of the main example of this is regular inspection by the regulatory authorities, in which evaluation of the equipment, records inspection and licensure are checked.
Global biopsy device market is projected to witness steady growth in the foreseeable future, with North America, followed by Europe being the largest revenue contributors collectively accounting for around 70% of the overall market. However, rampant increase in government spending on strengthening the healthcare infrastructure in emerging economies such as India and China, in turn is expected to position Asia Pacific as the fastest growing market for biopsy devices through
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