Industry Outlook

Breast biopsy procedure refers to extraction of tissue sample from the breast for examination and diagnosis. Due to the advantage of least disfigurement and pain, physicians are increasingly performing minimally invasive biopsy procedures. Therefore, the prime factors that support the market growth of breast biopsy devices are increasing incidence of breast cancer, growing awareness about cancer screening programs and advancing preference for minimally invasive procedures and dedicated systems. Perpetual technological advances in diagnostics and treatment methods for breast cancer have facilitated the introduction of minimally invasive procedures, thereby improving the treatment outcome rate. Breast cancer is among the most common cancer types in women worldwide, and growing awareness has thereby facilitated high demand for advanced diagnostic techniques. However risk of infections and affordability issues may hold back the growth of this market.

The global breast biopsy devices market was valued at US$ 1009.4 Mn in 2021 and expected to reach US$ 2,464.4 Mn by 2030, expanding at a CAGR of 7.3% from 2023 to 2030.

Market Synopsis

Vacuum Assisted Breast Biopsy Technology to Spearhead the Global Market

Conventionally, open surgical breast biopsies were the gold standard for sample extraction. However, with the advent of fine needle aspiration, the clinical scenario underwent transition and minimally invasive procedures witnessed significant growth in demand. However, drawbacks of fine needle aspiration procedures such as compromised accuracy in determining PR, ER and Her-2 status, high risk of negative results and dearth of standard interpretation guidelines led to replacement of this technique by further advanced procedures such as vacuum assisted breast biopsy and core needle biopsy. Currently, the global breast biopsy devices market is dominated by widespread acceptance of vacuum assisted breast biopsy procedure and as it conveniently overcome the drawbacks of conventional methods.

Uptake of Guidance Systems to Remain Steady through the Forecast Period

In the base year 2021, the global breast biopsy devices market witnessed biopsy guidance systems to have the largest revenue share. The segment will continue to dominate the overall market through the forecast period. Long equipment life, established clinical evidence on efficacy and moderate equipment cost are the major factors that are contributing to the prime position of biopsy guidance systems segment. The share of this segment will be cannibalized by the growing uptake of biopsy needles during the forecast period. Faster uptake of these products and growing demand for disposable needles in both developed and developing markets contribute to the faster growth rate of this segment.

Upswing in Adoption of MRI Guidance Modality to Boost the Market Growth

Currently, stereotactic x-ray guided biopsy systems enjoy dominance in the overall breast biopsy devices market. This modality since its introduction had gradually replaced the conventional open surgical biopsies. This modality is often viewed as cost effective and has been adopted worldwide. However, the dominance of stereotactic x-ray guided biopsy is critically challenged by the growing uptake of MRI guided biopsy. MRI guided biopsy is being widely adopted in developed markets of North America and Europe on the ground of better precision and greater awareness in paints and physicians.

Asia Pacific Set to Cannibalize on Market Shares of North America and Europe

Breast biopsy devices find wide usage in not just cancer diagnosis, but also in disease progress and treatment outcome monitoring. At present North America is the largest regional market for breast biopsy devices due to complete replacement of open surgical biopsy procedures with the minimally invasive counterparts. Additionally, better reimbursements to the latest and advanced biopsy modalities are also attributed to the dominance of North America market. However the North America market will lose significant market share to the rapidly advancing Asia Pacific market during the forecast period. Fast evolution of healthcare infrastructure, growing replacement of stereotactic X-ray biopsy systems with MRI guided systems and growing base of breast cancer patients are the key drivers of Asia Pacific breast cancer devices market. Additionally, swift progress of medical tourism in the region will also open further market penetration opportunities for manufacturers. 

The current market dynamics in the breast biopsy devices industry are studied in the market overview section of the report where the drivers, challenges and future prospects in the market are scrutinized. This section also includes graphical presentation of the competitive landscape currently prevalent in the global breast biopsy devices market. Major players operating in the global breast biopsy devices market are studied based on their business overview, product portfolio, financial information and key developments. Hologic, Becton, Dickinson and Company, C.R. Bard, Inc., Mammotome (Devicor Medical Products, Inc.), Aurora Imaging Technology, Inc., and Planmed OY are the prime market players considered in this sevtion.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Breast Biopsy Devices market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Breast Biopsy Devices market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Breast Biopsy Devices market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Breast Biopsy Devices market?
• Which is the largest regional market for Breast Biopsy Devices market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Breast Biopsy Devices market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Breast Biopsy Devices market worldwide?