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Friday, January 11, 2013

Biopsy Devices Market - Global Forecast, Market Share, Size, Growth And Industry Analysis, 2012 - 2018

The process of performing a histological analysis on any targeted tissue, for diagnostic purposes is referred to as a “biopsy”. Biopsy helps in the determination of aetiology, presence and extent of a disease. The global biopsy devices market was valued at USD 1.5 billion in 2012. The market will grow at a CAGR of 6.5% from 2012 to 2018, to reach an estimated USD 2.5 billion by 2018.

Biopsy procedures are minimally invasive in nature. This acts as a growth driver for the market, as these procedures significantly reduce patient recovery time, have fewer complications associated with them and are cost effective. Some of the other growth drivers for the market are increasing customer awareness levels encouraging them to go for regular breast, prostate and cervical examinations, global aging population inducing inflammatory diseases and cancer and the shift in the preference of medical practitioners from using reusable biopsy devices to using disposable devices.  Economic development in the Asia-Pacific region and technological improvements aiding in the invention of new products are some of the factors that will ensure future sustainability of the market.  

There are five major biopsy procedure types namely fine needle aspiration biopsy, stereotactic core needle biopsy, vacuum assisted core biopsy and surgical biopsy. These biopsy procedures include the use of biopsy needles. However, the needles vary in dimensions for each procedure type, like for an instance the needle used in a fine needle aspiration biopsy is thinner than the one used in a core needle biopsy procedure. The biopsy procedures are performed using the help of image guidance technologies such as magnetic resonance imaging (MRI), ultrasound and mammography. 

The market is segmented on the basis of applications into brain biopsy devices, lung biopsy devices, bone biopsy devices, breast biopsy devices, kidney biopsy devices, liver biopsy devices, prostate and bladder biopsy devices and gynecological biopsy devices market. The North American, European, Asia-Pacific and the rest of the world regions, together constitute the market segmentation on the basis of geography. 

Some of the major market players in the biopsy device market include Bard Biopsy Systems, CareFusion Corporation, Hologic Inc., Devicor Medical Products Inc., Cardinal Health Inc., Ethicon Endo-Surgery Inc.
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