Global Breast Biopsy Devices Market is expected to grow considerably in the forecast period owing to increase in number of breast cancer patients along with growing demand for minimally invasive surgeries. Breast biopsy is the process of identifying suspicious part of tissue or fluid in the breast to determine breast cancer. The procedure works in combination with guiding system, to locate abnormality in the breast and aids in the treatment.

Breast biopsy device market is driven by factors like increasing level of awareness for breast cancer, growing number of screening programs, increase in ageing female population and technological advances in the breast imaging equipment. Furthermore, governments of emerging economies are actively initiating public awareness programs for diagnosing and treating breast cancers. However, the market growth of breast biopsy device is expected to encounter growth challenges due to the lack of competent professionals, significant costs and risk of infection. Nevertheless, the unexplored areas across the globe and increasing awareness about the disorder is offering lucrative opportunities to breast biopsy device industry.

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Breast biopsy devices market is categorized on the basis of product, technique, application, end user and geography. On the basis of product, the market is divided into needle-based biopsy instruments, procedure trays, localization wires and others. Needle based biopsy segment further comprises core-needle biopsy, fine-needle aspiration and vacuum-assisted core biopsy. Fine-needle segment is expected to hold larger market share of breast biopsy device due to increasing need for minimally invasive surgeries.

Based on technique, breast biopsy device industry is divided into MRI-guided biopsy, stereotactic-guided biopsy, ultrasound-guided biopsy and others. Ultrasound biopsy segment is predicted to lead the industry of breast biopsy devices due to its growing acceptance.

In terms of application, breast biopsy device market is split into breast biopsy, colorectal biopsy, prostate biopsy, lung biopsy and others. Due to the growing awareness and increasing incidences of breast cancer, breast biopsy segment is expected to lead the market of breast biopsy devices in the near future. On the basis of end user, the market is classified into diagnostic and imaging centers, academic &research institutes and hospitals. Owing to the growing healthcare sector in the developing regions, hospital segment is expected to lead the industry of breast biopsy device in the coming years.

Geographically, breast biopsy device industry is segmented as North America, Latin America, Europe, Asia Pacific and Middle East & Africa. Asia Pacific is expected to lead the market of breast biopsy devices due to growing incidences of breast cancer and increasing ageing population of women in the region.

The prominent players in breast biopsy devices industry are Siemens AG, Argon Medical Devices Inc., Becton, Danaher Corporation, Sterylab S.R.L., Medtronic plc, Dickinson and Company, Cook Medical LLC., and Scion Medical Technologies LLC.

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Market Segment:

Breast Biopsy Devices Market By Test Type Outlook (Revenue, USD Million, 2013 - 2024)
• Needle breast biopsies
• Fine-needle aspiration
• Core-needle aspiration
• Vacuum-assisted core biopsy
• Open surgical biopsies
• Incisional breast biopsy
• Excisional breast biopsy

Breast Biopsy Devices Market By Product Outlook (Revenue, USD Million, 2013 - 2024)
• Biopsy needles
• Biopsy tables
• Localization wires
• Guidance systems
• Others

Breast Biopsy Devices Market By Guidance Type Outlook (Revenue, USD Million, 2013 - 2024)
• Ultrasound-guided
• Mammography-guided stereotactic
• Magnetic resonance-guided
• Others

Breast biopsy device market Regional Outlook (Revenue, USD Million, 2013 - 2024)
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Asia Pacific
• China
• India
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• South Africa

Biopsy Device market is projected to reach US$ 2,621.4 Mn by 2026 due to the government initiatives to enhance availability of cancer diagnosis and treatment. Biopsy device market can be broadly classified into product segments such as guidance system, needles, guns, reagents & kits and others (brushes, curettes and punches etc.); by application such as medical diagnosis and scientific research; and by end users which are hospital, specialized oncology centre, diagnostic centre and research institutes. In terms of revenue, the global biopsy device market is expected to reach US$ 1,397.4 Mn in 2016, witnessing a CAGR of 6.5%.

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Factors such as favourable reimbursement scenario in the U.S., demand for minimal invasive breast biopsy, and increasing preference for minimally-invasive biopsy procedures would contribute to the revenue growth of the biopsy device market over the forecast period. Economic factors such as increasing discretionary funding for cancer research, cancer awareness programs by governments, and increasing global healthcare spending would contribute to the revenue growth of the biopsy device market over the forecast period.

The demand for biopsy devices has been significantly high in the U.S., Germany and China market in the recent years. Asia pacific excluding Japan is also a lucrative market globally owing to the compound annual growth rate of 7.1%.  Asia Pacific excluding Japan biopsy device market revenue was accounted to be US$ 178.0 Mn in 2015, with China accounting for majority of revenue share.

By product, needles segment accounted for higher revenue share in global biopsy device market in comparison to the guidance system and guns market. Biopsy needles segment is expected to reach a value of US$ 956.7 Mn by 2026, reflecting a CAGR of 6.2% over the forecast period. Biopsy Guidance system segment, is expected to record a robust growth in the forecast period. The growth in guidance system can be attributed to the increasing trend towards advanced technology products.

By application, medical diagnosis segment accounted for highest revenue share in biopsy device market as compared to scientific research segment. Medical diagnosis segment is expected to reach a value of US$ 1,603.8 Mn by 2026, reflecting a CAGR of 6.2% over the forecast period. This is expected to be closely followed by scientific research segment which is projected to grow at a compound annual growth rate of 6.9% during the forecast period.

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 By end user, hospital segment accounts for higher consumption of biopsy devices as compared to other end user segments such as specialized oncology centre, diagnostic centre and research institutes. The strong growth in hospital segment can be attributed to increasing population preference for hospitals which can provide better assistance on increasing use for monitoring the disease and increasing incidences of breast cancers leading to breast biopsies. Hospitals are expected to register a CAGR of 8.2% over the forecast period.

 In addition to Asia Pacific excluding Japan, demand for biopsy devices has been significantly growing in Middle East and Africa, and Latin America. Revenues in APEJ are anticipated to grow by 7.1%, whereas MEA is expected to increase at 7.6% over the forecast period due to increasing demand for biopsy devices in various regions and increasing demand for minimal invasive Breast biopsy, which in turn contribute to the growth of the global biopsy device market.

 Key players in the global biopsy devices market include Becton, Dickinson and Company , Argon Medical Inc., B. Braun Melsungen AG, Boston Scientific Inc., C. R. Bard, Inc., Hologic, Inc., Devicor Medical Products Inc. and others.