Introduction
A breast biopsy is a
medical procedure in which a sample of suspicious tissue is taken from the
breast to determine if it is cancerous. It is a minimally invasive procedure
and is usually done under local anaesthetic. The biopsy is typically performed
in a doctor's office or hospital. The market for breast biopsy is growing due
to the increasing awareness about breast cancer, technological advancements,
and increasing government initiatives for the early detection of breast cancer.
Global
Breast Biopsy Market Overview
The global Breast biopsy market is projected to reach USD 1,094 million by
2025, at a CAGR of 8.6%.
Breast biopsy is a
procedure used to diagnose breast cancer or other abnormalities. It is a
procedure used to remove a sample of tissue from the breast, which is then
examined under the microscope by a pathologist to determine the presence of
breast cancer or other abnormalities. Increase in prevalence of breast cancer
and rising awareness among women regarding breast cancer are the major factors
driving the growth of the global breast biopsy market. However, lack of skilled
professionals and side effects associated with biopsy procedures are
anticipated to hamper the market growth. On the other hand, technological
advancements in biopsy procedures are expected to provide lucrative
opportunities for the market growth.
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Drivers of the Breast Biopsy Market
·
Rising
prevalence of breast cancer: The global prevalence of breast cancer is
increasing, with over 2.1 million new cases being diagnosed in 2018. As a
result of this, the need for breast biopsy to diagnose and stage the cancer is
also increasing.
·
Technological
advancements: Advances in imaging technology have improved the accuracy and
efficiency of breast biopsy procedures. This has enabled physicians to diagnose
and/or stage breast cancer more accurately and efficiently.
·
Increasing
awareness about early diagnosis: There is increasing awareness among people
regarding the importance of early diagnosis of breast cancer. This is driving
the demand for breast biopsy procedures, as early diagnosis can help improve
the prognosis of the disease.
·
Increase
in healthcare expenditure: The increase in healthcare expenditure, especially
in developing countries, has facilitated the availability of advanced
diagnostic and therapeutic techniques, including breast biopsy.
·
Growing
geriatric population: The geriatric population is more prone to developing
breast cancer, which is driving the demand for breast biopsy procedures.
Opportunities
of Breast Biopsy Market
·
Increased
Awareness: Increasing awareness about the importance of breast biopsy among
women of all ages has created a larger demand for the procedure in recent
years. This has opened up new opportunities for the market.
·
Expansion
of Health Insurance Coverage: The expansion of health insurance coverage for
breast biopsy has increased access to the procedure and has made it more
affordable for many women. This has also opened up new opportunities for the
market.
·
Technological
Advancements: Technological advancements in biopsy techniques have improved the
accuracy and efficiency of the procedure. This has created new opportunities
for the market.
·
Growing
Demand for Early Diagnosis: The growing demand for early diagnosis of breast
cancer has increased the demand for breast biopsy. This has created new
opportunities for the market.
·
Increase
in the Number of Specialty Clinics: The number of specialty clinics providing
breast biopsy services has increased in recent years. This has opened up new
opportunities for the market.
Regional
Breast Biopsy Market Analysis
The healthcare infrastructure in
emerging economies such as China, India, and South Korea is evolving at a rapid
pace, leading to major investments in advanced systems (including liquid breast
biopsy, and vacuum-assisted biopsy instruments, among others) by hospitals and
breast care centers. This factor is driving the growth of Asia pacific breast
biopsy market. Moreover, rising prevalence of breast cancer, growing number of
awareness programs for the early detection of breast cancer, and the high
government spending on breast cancer research studies are the other major
factors driving the growth of the breast biopsy market in Asia Pacific.
Major
Players in the Breast Biopsy Market
Hologic, Inc. (US), Danaher
Corporation (US), and Becton, Dickinson and Company (US), QIAGEN (Netherlands),
and Illumina, Inc. (US) are the top five players in the global breast biopsy
market. Other prominent players operating in this market include Merit Medical
Systems (US), Medtronic (Ireland), IZI Medical Products (US), Argon Medical
(US), STERYLAB S.r.l. (Italy), Scion Medical Technologies, LLC (China), Biocept
Inc. (US), Bio-Rad Laboratories, Inc. (US), F. Hoffmann-La Roche Ltd
(Switzerland), Menarini Silicon Biosystems, Spa (Italy), Exact Sciences
Corporation (US), and Thermo Fisher Scientific, Inc. (US), among others.
Recent
Developments of Breast Biopsy Market
- In 2018, Hologic received the European CE mark approval for its
Brevera Breast Biopsy System with CorLumina Imaging Technology. This
system is designed to increase biopsy accuracy with real-time imaging,
improve patient satisfaction, and streamline workflow in the biopsy suite.
- In 2017, Hologic announced the launch of its Brevera Breast Biopsy
System with CorLumina Imaging Technology for commercial availability in
the US. This system is designed to increase biopsy accuracy with real-time
imaging, improve patient experience, and streamline the biopsy process
from start to finish.
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Conclusion:
Factors such as the
increasing prevalence of breast cancer, technological advancements in breast
biopsy, and the rising awareness of breast cancer are driving the growth of the
market. Moreover, the increasing adoption of minimally invasive procedures,
government initiatives to promote the early detection of breast cancer, and the
availability of reimbursement for breast biopsy procedures are also propelling
the market growth. Additionally, the rising number of medical tourism and the
increasing disposable income of people in developing countries are expected to
contribute to the growth of the market.
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