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Smart Biopsy Device Market Size Worth $3.72 Billion by 2026 | CAGR: 5.6 %: Grand View Research, Inc.
SAN FRANCISCO, Dec. 3, 2019 /PRNewswire/ -- The global smart biopsy device market size is anticipated to reach USD 3.72 billion by 2026, registering a CAGR of 5.6% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand for minimally invasive biopsy procedure coupled with technological advancements in smart biopsy device is anticipated to boost the growth.
Key suggestions from the report:
- Breast cancer dominated the application segment in 2018, owing to rising prevalence of the disease. Moreover, rising risk of breast cancer due to changing lifestyle and environmental factors is expected to contribute to this growth.
- Skin cancer segment is expected to register the fastest CAGR over the forecast period, owing to growing abnormal cells in epidermis and rising mutations caused by UV radiation.
- North America dominated the smart biopsy devicemarket with the highest revenue share in 2018 owing to increasing cancer cases coupled with growing awareness regarding the diagnosis and treatment of the disease.
- The key players are introducing technologically advanced products to gain competitive edge in the market. For instance, in November 2018, Boston Scientific Corporation recommended offer to acquire BTG plc., company that manufactures devices used in minimally invasive biopsy procedures which can cure cancer and vascular diseases. This acquisition will enhance their important areas of unmet needs such as pulmonary embolism and cancer.
Read the 171 pages research report with ToC on "Smart Biopsy Devices Market Size, Share & Trends Analysis Report By Application (Breast Cancer, Skin Cancer, Liver Cancer, Prostate Cancer), By Region, And Segment Forecasts, 2019 - 2026'' at: https://www.grandviewresearch.com/industry-analysis/smart-biopsy-devices-market
Minimally Invasive Breast Biopsy Technique (MIBT) allows diagnosis of breast cancer without taking patient to surgery, preserves normal breast tissue, and decreases the number of operations required for cancer treatment. In addition, technological advancements in MIBT, such as needle-based biopsy guns to obtain cells, core needles biopsy to obtain sample tissue, specialized biopsy device that utilize vacuum and cutting device to remove sample tissues. Thus, minimally invasive procedures such as MIBT are recommended more as compared to conventional biopsy methods due to minimal risk factor. This is projected to drive the market for smart biopsy devices in near future.
Siemens Healthineers mammography system enables healthcare providers to improve their biopsy workflow as it uses 3D HD biopsy to obtain effective biopsies at a lower dose. It also offers automated breast density measurement with titanium enhanced mammography exams. Such technological advancements have improved biopsy procedure workflow by reducing morbidity. They have also increased patient satisfaction which is expected to bode well for the growth of the market.
Grand View Research has segmented the global smart biopsy device market based on application and region:
- Smart Biopsy Device Application Outlook (Revenue, USD Million, 2015 - 2026)
- Breast Cancer
- Skin Cancer
- Liver Cancer
- Prostate Cancer
- Smart Biopsy Device Regional Outlook (Revenue, USD Million, 2015 - 2026)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
Find more research reports on Medical Devices Industry, by Grand View Research:
- Breast Biopsy Device Market – The Breast Biopsy Device Market size was estimated to be USD 372.9 million in 2015. It is a diagnostic procedure that involves the removal of tissue or fluid from a suspicious area.
- Biopsy Devices Market – The global biopsy devices market size was estimated at USD 1.0 billion in 2016. Growing prevalence of cancer worldwide.
- Smart Medical Devices Market – The global smart medical devices market was valued USD 3.58 billion in 2016 and is expected to reach USD 24.46 billion by 2025 at a CAGR of 24.0% over the forecast period.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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