Selbyville, Delaware, January 31, 2023 (GLOBE NEWSWIRE) —
Biopsy tools market value According to a new research report by Global Market Insights Inc.
Lifestyle changes and the prevalence of cancer growth are among the main factors that are driving the adoption of biopsy tools and equipment for early detection of the disease. Based on the report of the International Association for Research on Cancer, lung cancer accounts for 11.4% of all cancer diagnoses worldwide. Because early detection can help improve lung cancer cure rates, the use of biopsy tools will increase. Other risk factors, including exposure to harmful chemicals and pollutants, will contribute to the burden of cancer and, in turn, stimulate demand for the product.
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The biopsy procedure requires high technical expertise in taking and interpreting the results. Shortage of skilled healthcare professionals may hinder the growth of the industry to some extent, depending on the complexity of the process. For example, in Europe, the shortage of healthcare professionals may reach approximately 4.1 million by 2030. Concerns about accurate diagnosis from inadequately trained healthcare providers have also increased, thus adversely affecting the development of the biopsy device market.
High operating speed and other unique features fueled the adoption of needle biopsy equipment
Biopsy equipment sales from the biopsy needle products segment to show a CAGR of 4.5% by 2032. Compared to surgical biopsy, the needle biopsy procedure is less invasive, less expensive, and involves a faster operating speed. This product is effective in treating patients with benign lesions even with surgery. However, needle biopsy carries the risk of infection and bleeding at the entry site, which may prevent its development to some extent.
Explore key industry insights with 219 market data tables and 11 figures and charts from the report, spread over 189 pages. “Biopsy Devices Market Size by Product (Biopsy Guide Systems [Manual, Robotic]Needle-Based Biopsy Tools [Vacuum-Assisted, Fine Needle, Core Needle] Biopsy Tools [Disposable, Reusable]Biopsy Forceps [General Biopsy, Hot Biopsy]), by End Use (Hospitals, Ambulatory Surgery Centers), Regional Overview, Industry Analysis Report, Growth Potential, Competitive Market Share and Forecast, 2023 – 2032″ in detail with the table of contents:
Availability of advanced equipment and reimbursement policies increase the demand for biopsy device in hospitals
The hospital segment accounted for more than 68% of the biopsy devices market share in 2022, owing to the wide availability of innovative healthcare devices and payment policies. According to coding and payment guidelines from Hologic, in 2021, the National Median Charge for breast biopsy procedures with breast implant placement in hospitals is estimated to be around $1,400. These factors will increase the number of surgical operations performed in hospitals and, in turn, increase the use of biopsy medical devices.
Europe is emerging as a lucrative revenue center for biopsy device manufacturers
The European biopsy equipment market is expected to exceed USD 950 million by 2032, due to the increasing severity of cancer. The European countries with the highest rates of this disease are Denmark, Belgium, Ireland and the Netherlands. In addition, the increasing aging population prone to chronic disease will encourage local healthcare professionals to use biopsy devices for cancer diagnosis, promoting the development of the local market.
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Proposals to expand the product range to strengthen the global industry outlook
Some of the key players profiled in the report are: Boston Scientific Corporation, Becton, Dickinson and Company (BD), FUJIFILM Holdings Corporation, Hologic Inc., Inc., B. Braun Melsungen AG, Cook Group Incorporated, Devicor Medical Products, Inc. Danaher Corporation), and INRAD Inc, among others.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, United States, is a global market research and consulting services provider, offering syndicated and customized research reports along with growth consulting services. Our business and industry intelligence research reports offer clients insightful insights and actionable market data specifically designed and presented to aid strategic decision-making. These comprehensive reports are designed with a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.