Breast Biopsy Devices Market by Type (Needles, Tables, Assay kits, Liquid Biopsy), Procedure (CNB, FNAB, VAB, Surgical), Technique (Stereotactic, USG, MRI), Application (Screening, Treatment), End User (Hospitals, Clinic) & Region - Global Forecast to 2028
The global breast biopsy devices market in terms of revenue was estimated to be worth $1.6 billion in 2023 and is poised to reach $2.6 billion by 2028, growing at a CAGR of 10.0% from 2023 to 2028. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. The increasing incidence of breast cancer, growing breast cancer screening programs initiatives by the government, raising consciousness regarding early detection of breast cancer, and availability of reimbursements to drive the market during the forecast period.
Global Breast Biopsy Devices Market
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e- Estimated; p- Projected
Breast Biopsy Market Dynamics
Driver: Increasing number of breast cancer screening programs
Globally, the most frequently occurring cancer among women; it affects around 2.26 million women across the globe. In 2020, an estimated 685,000 deaths were caused owing to breast cancer, accounting for 15% of cancer-related deaths among women. A key contributor to the high death rate is that most women are diagnosed with late-stage cancer.
- The National Breast and Cervical Cancer Early Detection Program (NBCCEDP) was initiated by the Centers for Disease Control and Prevention (CDC) in 1991 for early breast and cervical cancer detection in the US. This program aims to provide annual breast cancer screening and diagnosis for uninsured and low-income women in the country. In 2021, NBCCEDP provided breast cancer screening and diagnostic services to 263,651 women and diagnosed 2,221 invasive breast cancers and 676 premalignant breast lesions.
- The rising number of such initiatives in major global markets is expected to increase the number of screening procedures for breast cancer diagnosis. This, in turn, is expected to drive the growth of the breast biopsy market.
Restraint: Risk of infections associated with the use of biopsy needles
The size and quality of biopsy samples can vary, which can be challenging to obtain enough tissue for an accurate diagnosis. Patients may experience anxiety and fear regarding biopsy procedures due to concerns about pain, complications, or receiving a cancer diagnosis. This can lead to delayed diagnosis and treatment. Although healthcare authorities and manufacturers advise against needle reuse, the practice is still prevalent in developing countries.
Opportunity: Emergence of liquid biopsy and promising clinical trials
Over time, biopsy techniques have undergone significant advancements, transitioning from open surgical procedures to minimally invasive needle biopsies. These advancements have been driven by the increasing demand for less invasive biopsy techniques from surgeons and patients.
Liquid biopsy detected circulating tumor cells or DNA fragments from tumors and emerged as a breakthrough technique. It eliminates the need for surgical or needle biopsies and enables early-stage cancer detection. This approach captures the comprehensive genetic complexity of tumors and reduces the risk of cancer cells spreading to other parts of the body. Multiple players in the market are currently conducting clinical trials to validate the effectiveness and efficiency of liquid biopsy in oncology. Encouraging results from these trials is expected to create new opportunities for companies operating in the market.
Challenge: Underdeveloped Healthcare Infrastructure and Dearth of Resources in Developing Countries
The rising awareness of cancer types drives increased demand for biopsy procedures. However, a significant challenge is the need for more skilled surgeons who can perform minimally invasive biopsies. This shortage is particularly pronounced in developing and underdeveloped regions. For instance, the US is projected to face a shortage of over 2,300 medical oncologists by 2025, while growing areas like sub-Saharan Africa need more medical oncologists, radiation oncologists, and other essential healthcare professionals. These shortages of healthcare professionals hinder the adoption of breast biopsy needle procedures, particularly in developing countries.
Furthermore, the underdeveloped healthcare infrastructure in many regions significantly constrains the growth of the breast biopsy market. In countries like India, low screening coverage for breast and cervical cancer is attributed to inadequate laboratory supplies, limited treatment accessibility, and cultural and religious beliefs impacting diagnosis.
Breast Biopsy Devices Market Ecosystem
By type, the biopsy needles segment accounted for the largest share of the breast biopsy devices industry in 2022.
Based on type, the global breast biopsy devices market is segmented into biopsy needles, guidance systems, biopsy tables, localization wires, assay kits, liquid biopsy instruments, and other devices. In 2023, the biopsy needles segment accounted for the largest market share. Technological advancements and new product launches drive the growth potential of the biopsy needles segment. Moreover, government initiatives supporting breast cancer screening programs and awareness campaigns are expected to increase the adoption of breast biopsy procedures, further fueling market growth.
By procedure, the liquid breast biopsy segment of the breast biopsy devices industry will register significant growth soon.
Based on procedure, the global near breast biopsy devices market is segmented into needle breast biopsy, open surgical breast biopsy, and liquid breast biopsy. In 2023, the liquid breast biopsy segment registered the highest growth rate during the forecast period. Companies in the liquid breast biopsy segment are actively providing financial support and grants for clinical trials and research. This proactive approach is expected to contribute significantly to the growth of the liquid breast biopsy market.
By technique, the image-guided biopsy segment of the breast biopsy devices industry will register significant growth soon.
Based on technique, the global breast biopsy market is segmented into liquid breast biopsy, image-guided biopsy, and liquid biopsy. The liquid biopsy segment registers the highest growth rate during the forecast period. The growth of this segment can be attributed to the enhanced accuracy provided by image-guided procedures in localizing abnormal or irregular masses, surpassing the accuracy achieved by non-image-guided procedures. This improved accuracy contributes to the segment’s expansion and presents advantageous opportunities in the business realm.
By application, the early cancer screening segment of the breast biopsy devices industry will register significant growth soon.
Based on application, the global breast biopsy devices market is segmented into early cancer screening, therapy selection, treatment monitoring, and recurrence monitoring. Therapy selection registers the highest growth rate during the forecast period. Using liquid biopsy procedures has facilitated early-stage cancer diagnosis, real-time disease progression assessment, and recurrence monitoring. This advancement is anticipated to be a significant driver of market growth in the near future, presenting promising opportunities for businesses operating in the industry.
By end user, the hospitals and surgical centers companies segment accounted for the largest share of the breast biopsy devices industry in 2022.
Based on end-user, the global breast biopsy devices market is segmented into hospitals & clinics, research laboratories, and pharmaceutical & biotechnology companies. In 2023, hospitals and clinics accounted for the largest market share. The substantial market share of this segment can be primarily attributed to the rising volume of breast diagnostic procedures conducted in hospitals. This growth is driven by hospitals increasing preference for the automation and digitization of radiology patient workflow, as well as their adoption of technologically advanced systems to enhance the quality of patient care. These factors contribute significantly to the segment’s strong position in the market, presenting favorable opportunities for business growth in the healthcare industry.
By region, North America is expected to be the largest region of the breast biopsy devices industry during the forecast period.
North America, comprising the US and Canada, accounted for the largest share of the breast biopsy devices industry in 2022. The significant market share of the North American region can be attributed to several critical factors, including continuous technological advancements, increasing incidence rates of breast cancer, favorable reimbursement scenarios, and the implementation of new breast density notification laws in the US. These factors have played a pivotal role in driving the dominant position of the North American market, creating favorable business opportunities for companies operating in the region.
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As of 2022, prominent players in the market are Hologic Inc. (US), Danaher Corporation (US), Becton Dickinson and Company (US), Argon Medical Devices (US), Merit Medical Systems (US), Menarini-Silicon Biosystems (Italy), Guardant Health, Inc. (US), NeoGenomics (US), Sysmex Inostics (Germany), Sterylab S.R.L. ( Italy), Biocept, Inc. (US), Bio-Rad Laboratories, Inc. (US), F. Hoffmann-La Roche Ltd (Switzerland), Qiagen (Germany), Exact Sciences Corporation (US).
Scope of the Breast Biopsy Devices Industry:
|
Report Metric |
Details |
|
Market Revenue in 2023 |
$1.6 billion |
|
Projected Revenue by 2028 |
$2.6 billion |
|
Revenue Rate |
Poised to Grow at a CAGR of 10.0% |
|
Market Driver |
Increasing number of breast cancer screening programs |
|
Market Opportunity |
Emergence of liquid biopsy and promising clinical trials |
This report has segmented the global breast biopsy devices market to forecast revenue and analyze trends in each of the following submarkets:
By Type
- Biopsy Needles
- Guidance Systems
- Biopsy Tables
- Localization Wires
- Assay Kits
- Liquid Biopsy Instruments
- Others
By Procedure
-
Needle Breast Biopsy
- Core-Needle Biopsy (CNB)
- Fine-Needle Aspiration Biopsy (FNAB)
- Vacuum-Assisted Biopsy (VAB)
-
Open Surgical Breast Biopsy
- Excisional
- Incisional
-
Liquid Breast Biopsy
- Circulating Tumor Cells
- Circulating Tumor DNA (CtDNA)
- Other Biomarkers
By Technique
-
Image Guided Biopsy
- Mammo-Guided Stereotactic
- Ultrasound-Guided
- MRI-Guided
- Other Image-Guided Techniques
-
Liquid Biopsy
- NGS based Biopsy
- PCR based Biopsy
- Microarray-based Biopsy
By Application
- Early Cancer Screening
- Therapy Selection
- Treatment Monitoring
- Recurrence Monitoring
- Global Breast Biopsy Devices Market, by End User
- Hospitals & Surgical Centers
- Breast Care Centers
- Imaging & Diagnostic Centers
By Region
-
North America
- US
- Canada
-
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
-
Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia Pacific
-
Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
Recent Developments of Breast Biopsy Devices Industry
- Hologic, Inc, an innovative medical technology company primarily focused on improving women’s health, announced today that it has completed the purchase of SOMATEX Medical Technologies GmbH; the deal size is $64 million.
- In 2022 Danaher Corporation launched Mammotome Revolve EX Dual Vacuum-Assisted Breast Biopsy System, the first vacuum-assisted biopsy device designed specifically for the excision of benign breast lesions and is twice as fast as traditional vacuum-assisted breast biopsy systems.
- Argon Medical Devices announced the launch of the SuperCore advantage semi-automatic biopsy instrument’s newest addition to its soft tissue biopsy product portfolio in the united states. The next-generation soft tissue biopsy instrument provides a superior volume of tissue samples. Collecting more tissue volume may increase the likelihood of an accurate diagnosis.
Frequently Asked Questions (FAQ):
What is the projected market revenue value of the global breast biopsy devices market?
The global breast biopsy devices market boasts a total revenue value of $2.6 billion by 2028.
What is the estimated growth rate (CAGR) of the global breast biopsy devices market?
The global breast biopsy devices market has an estimated compound annual growth rate (CAGR) of 10.0% and a revenue size in the region of $1.6 billion in 2023.
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The study involved four major activities in estimating the current size of the breast biopsy devices market. Exhaustive secondary research was done to collect information on the market, peer, and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. A bottom-up approach was employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
The secondary research process involves the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, annual reports, company house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial breast biopsy devices market study. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.
Primary Research
In the primary research process, various supply and demand sources were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology & innovation directors, and related key executives from various key companies and organizations in the breast biopsy devices market. The primary sources from the demand side include hospitals, surgical centers, imaging centers, diagnostic centers, and breast care centers. Primary research was conducted to validate the market segmentation, identify key players, and gather insights on key industry trends & key market dynamics.
A breakdown of the primary respondents is provided below:
*Others include sales managers, marketing managers, business development managers, product managers, distributors, and suppliers.
Note: Companies are classified into tiers based on their total revenue. As of 2022, Tier 1 = >USD 10 billion, Tier 2 = USD 10 billion to USD 1 billion, Tier 3 = <USD 500 million to USD 1 billion
To know about the assumptions considered for the study, download the pdf brochure
Market Estimation Methodology
In this report, the breast biopsy devices market’s size was determined using the revenue share analysis of leading players. For this purpose, key players in the market were identified, and their revenues from the market business were determined through various insights gathered during the primary and secondary research phases. Secondary research included the study of the annual and financial reports of the top market players. In contrast, primary research included extensive interviews with key opinion leaders, such as CEOs, directors, and key marketing executives.
Segmental revenues were calculated based on the revenue mapping of major solution/service providers to calculate the global market value. This process involved the following steps:
- Generating a list of major global players operating in the breast biopsy devices market.
- Mapping annual revenues generated by major global players from the product segment (or nearest reported business unit/product category)
- Revenue mapping of major players to cover a major share of the global market share, as of 2022
- Extrapolating the global value of the breast biopsy devices market industry
Bottom-up approach
In this report, the size of the global breast biopsy devices market was determined using the revenue share analysis of leading players. For this purpose, key players in the market were identified, and their revenues from the breast biopsy devices business were determined through various insights gathered during the primary and secondary research phases. Secondary research included the study of the annual and financial reports of the top market players. In contrast, primary research included extensive interviews with key opinion leaders, such as CEOs, directors, and marketing executives.
Approach 1: Company revenue estimation approach
To calculate the global market value, segmental revenues were calculated based on the revenue mapping of major solution/product providers. This process involved the following steps:
- Generating a list of major global players operating in the breast biopsy devices market
- Mapping the annual revenues generated by major global players from the breast biopsy devices segment (or the nearest reported business unit/product category)
- Mapping the revenues of major players to cover at least 60-70% of the global market share as of 2022
- Extrapolating the global value of the breast biopsy devices industry
Approach 2: End user-based market estimation
During preliminary secondary research, the total sales revenue of breast biopsy devices was estimated and validated at the regional and country level, triangulated, and validated to estimate the global market value. This process involved the following steps:
- Generating a list of major customer facilities across each Region and country
- Identifying the average number of breast biopsy devices product supplies used by major customer facilities across each product type at the regional/country level, annually
- Identifying the percentage contribution of major customer facilities to the overall breast biopsy devices expenditure and usage at the regional/country level, annually
- Extrapolating the annual usage patterns for various products across major customer facilities to estimate the size of each product segment at the regional/country level, annually
- Identifying the percentage contributions of individual market segments and subsegments to the overall breast biopsy devices market at the regional/country level
Breast Biopsy Devices Market Size Estimation: Bottom-Up Approach
Source: MarketsandMarkets Analysis
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Data Triangulation
After arriving at the overall market size from the market size estimation process explained above, the global breast biopsy devices market was split into segments and subsegments. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. Additionally, the breast biopsy devices market was validated using top-down and bottom-up approaches.
Market Definition
A breast biopsy is a procedure in which a sample of breast tissue or fluid is removed to test for breast cancer. There are several types of breast biopsy procedures, such as core needle biopsy, vacuum-assisted biopsy, liquid biopsy, and open surgical breast biopsy, among others. Conventional breast biopsy procedures often utilized a free-hand technique wherein the needle was positioned at the target site while operating the imaging transducer. These advancements have improved the accuracy, efficiency, and safety of biopsy procedures, leading to increased adoption and market growth.
Key Stakeholders
- Biopsy needles and guidance system manufacturing companies
- Liquid biopsy assay kit manufacturers and suppliers
- Breast care facilities and imaging centers
- Cancer research centers
- Hospitals and surgical centers
- Ambulatory care centers
- Research laboratories and academic institutes
- Contract research organizations
- Breast biopsy software providers
- Medical device distributors and suppliers
- Market research and consulting firms
Objectives of the Study
- To define, describe, and forecast the breast biopsy market by Type, Procedure, Technique, Application, End User and Region
- To provide detailed information regarding major factors influencing the market growth (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze micro markets with respect to their individual growth trends, prospects, and contributions to the market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To forecast revenue of the market segments with respect to five regions: North America (US and Canada), Europe (Germany, France, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America), and the Middle East & Africa.
- To strategically profile the key players and comprehensively analyze their market shares and core competencies
- To track and analyze competitive developments in the breast biopsy market, such as product launches and product enhancements; agreements, partnerships, and collaborations; acquisitions; and R&D developments.
Available Customizations
With the given market data, MarketsandMarkets offers customizations per the company’s specific needs. The following customization options are available for the present global breast biopsy devices market report:
Product Analysis
- Product matrix, which gives a detailed comparison of the product portfolios of the top five companies
Company Information
- Detailed analysis and profiling of additional market players (up to five)
Geographic Analysis
- Further breakdown of the Rest of Europe's breast biopsy devices market into Russia, Belgium, the Netherlands, Switzerland, Austria, Finland, Sweden, Poland, and Portugal, among others
- Further breakdown of the Rest of Asia Pacific breast biopsy devices market into Singapore, Taiwan, New Zealand, Philippines, Malaysia, and other APAC countries
- Further breakdown of the Rest of Latin America (RoLATAM), which comprises Argentina, Chile, Peru, Colombia, and Cuba
- Further breakdown of the RoW market into Latin America and MEA regions
Growth opportunities and latent adjacency in Breast Biopsy Devices Market