Breast Biopsy Market to Reach $1.08 Bn, Globally, by 2030 at 5.1% CAGR: Allied Market Research
Increased sensitivity of women to mammary cancer in all countries, as well as awareness campaigns and screenings done in their favor drive the growth of the global breast biopsy market.
PORTLAND, Ore., April 4, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Breast Biopsy Market by Product (Vacuum Assisted Biopsy, Core Needle Biopsy, Fine Needle Aspiration Biopsy), by Image Guided Technology (Mri Guided Breast Biopsy, Ultrasound Guided Breast Biopsy, Mammography Guided Stereotactic Biopsy, Ct Guided Biopsy, Other Image Guided Breast Biopsy), by End User (Hospitals And Clinics, Diagnostic Centers): Global Opportunity Analysis and Industry Forecast, 2020-2030." According to the report, the global breast biopsy industry was estimated at $658.17 million in 2020, and is anticipated to hit $1.08 billion by 2030, registering a CAGR of 5.1% from 2021 to 2030.
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Drivers, restraints, and opportunities-
Increased sensitivity of women to mammary cancer in all countries, as well as awareness campaigns and screenings done in their favor drive the growth of the global breast biopsy market. On the other hand, incidences of adverse effects and infections after the biopsy restrain the growth to some extent. However, several government initiatives taken toward the development of diagnostic technologies are expected to create lucrative opportunities in the industry.
Covid-19 scenario-
- Due to the ongoing lockdowns in several nations to prevent the spread of the Covid-19 virus, especially during the initial period, hospitals, clinics, and diagnostic facilities were unable to deliver biopsy services. This, in turn, impacted the breast biopsy market negatively.
- Also, the pandemic led to a steep decline in the number of breast cancer check-ups. However, the market has already started recovering and is projected to get back on track soon.
The core needle biopsy segment to dominate by 2030-
On the basis of product, the core needle biopsy segment accounted for the highest market share in 2020, generating more than half of the global breast biopsy market. Surge in breast cancer has created a demand for precise diagnostic technology which has eventually resulted in the growth of the core needle biopsy procedure. The vacuum assisted biopsy segment, however, is anticipated to cite the fastest CAGR of 6.4% from 2021 to 2030.
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The hospitals and clinics segment to maintain its lion's share-
On the basis of end use type, the hospitals & clinics segment generated the highest share in 2020, holding more than half of the global breast biopsy market. The diagnostic centers segment, on the other hand, is expected to cite the fastest CAGR of 6.0% from 2021 to 2030. This is attributed to the emergence of prioritizing imaging technology for breast cancer detection.
North America garnered the highest share in 2020-
On the basis of region, North America contributed to the major market share in terms of revenue 2020, holding more than two-fifths of the global breast biopsy market. Rise in cancer cases and steps undertaken by government to provide facilities for early diagnosis of cancer drive the market growth in the region. The Asia-Pacific region, simultaneously, is projected to cite the fastest CAGR of 7.1% from 2021 to 2030, due to surge in awareness and technological advancements in the breast healthcare sector.
Key players in the industry-
- Intact Medical Corporation
- Galini SRL
- Hologic Inc.
- Ethicon Endo Surgery
- Becton and Dickinson Company
- Encapsule medical Devices LLC.
- Leica Biosystems Nussloch GmbH
- C. R. Bard, Inc.
- Argon Medical Devices
- Cook Medical Incorporated
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