Biopsy Devices Market to witness growth stint between 2020 and 2027

Publisher: The Insight Partners

According to our new research study of “Biopsy Devices Market to 2027 – COVID-19 Impact and Global Analysis by Product (Needle-Based Biopsy, Localization Wires, Procedure Trays, and Others); Technology (CT Scan, Ultrasound-Guided Biopsy, Stereotactic-Guided Biopsy, MRI-Guided Biopsy, and Others); Application (Lung Biopsy, Kidney Biopsy, Liver Biopsy, Breast Biopsy, and Others), and Geography,” the market is expected to reach US$ 3,584.20 million by 2027 from US$ 2,230.86 million in 2019; it is projected to grow at a CAGR of 6.2% during 2020–2027. The report highlights trends prevailing in the global biopsy devices market with the factors driving the market growth and those hampering it.

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The global biopsy devices market, based on application, is segmented into lung biopsy, kidney biopsy, liver biopsy, breast biopsy, and others. In 2019, the breast biopsy segment held the largest share of the market, and it is also expected to register the highest CAGR from 2020 to 2027. Breast biopsy refers to a procedure of removing a small sample of breast for laboratory testing. According to the Centers of Disease Control and Prevention (CDC), more than 1 million females undergo breast biopsy in the US each year. It is one of the most commonly performed procedures as the technique is relatively simple and has low underlying risks.

The report analyzes biopsy devices market on the basis of following segments:

By Product

• Needle-Based Biopsy
• Core Biopsy Devices
• Aspiration Biopsy Needles
• Vacuum-Assisted Biopsy (VAB) Devices
• Localization Wires
• Procedure Trays
• Others

By Technology

• CT-Scan
• Ultrasound-Guided Biopsy
• Stereotactic-Guided Biopsy
• MRI-Guided Biopsy
• Others

By Application

• Lung Biopsy
• Kidney Biopsy
• Liver Biopsy
• Breast Biopsy
• Others

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The biopsy devices market is segmented on the basis of product into needle-based biopsy, procedure trays, localization wires, and others. In 2019, the needle-based biopsy segment accounted for the largest share of the global biopsy devices market. The growth of the market for this segment is attributed to increasing adoption of needle based-biopsy procedures due to their high accuracy, with minimal injury. Furthermore, the segment is also likely to witness the fastest CAGR in the market during the forecast years.

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