Vacuum-Assisted Breast Biopsy Device Market is Projected to Hit USD 334.31 Million by 2028 at a CAGR of 4.5% from 2022-2028; High Incidence of Breast Cancer and Preference for Minimally Invasive Procedures to Foster Market Growth
SkyQuest's vacuum-assisted breast biopsy device market report provides valuable insights to help stakeholders make informed decisions about investment opportunities, product development, and industry trends. This comprehensive report offers a global market assessment that accurately evaluates the market's size, growth potential, and prospects. By understanding the current state of the market and future growth projections, investors can make informed decisions about where to allocate their resources to achieve maximum returns.
Westford USA, Feb. 27, 2023 (GLOBE NEWSWIRE) -- The vacuum-assisted breast biopsy device market has witnessed significant growth in recent years, with North America taking a major lead, followed by the Asia Pacific region. The high growth can be attributed to the growing prevalence of breast cancer and the increasing advancements in medical devices. In addition, governments worldwide are making efforts to raise awareness about the importance of early detection of breast cancer, which is positively impacting the market. Moreover, a well-established healthcare system, high awareness about breast cancer, and strong R&D investments in medical devices further support the market growth.
Breast cancer is a major health concern worldwide, with a high incidence and mortality rate. According to SkyQuest, there were over 2.2 million breast cancer cases in 2020 and over 680,700 deaths due to the disease. These statistics highlight the urgent need for effective detection and treatment of breast cancer. Vacuum-assisted breast biopsy devices have become increasingly crucial in the fight against breast cancer. These devices enable doctors to obtain tissue samples from suspicious breast lesions, which can then be examined for the presence of cancer cells.
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· Pages - 286
· Tables - 146
· Figures - 68
Biopsy devices are medical tools used to remove a sample of tissue or cells from the body for further analysis in the laboratory. These devices are critical for the diagnosis of various diseases, including cancer. Vacuum-assisted biopsy is a device that provides a minimally invasive method for extracting multiple tissue samples.
*Prominent Players in Vacuum-Assisted Breast Biopsy Device Market*
· BD (US)
· Olympus Corporation (Japan)
· Medtronic (Ireland)
· Devicor Medical Products, Inc. (US)
· Fujifilm (Japan)
· Cook (US)
· Cardinal Health. (US)
· B. Braun Melsungen AG (Germany)
· ARGON MEDICAL. (US)
· C. R. Bard, Inc. (US)
· Boston Scientific Corporation (US)
· INRAD Inc. (US)
· Hologic, Inc. (US)
· Scion Medical Technologies LLC. (US)
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*Vacuum-Assisted Biopsy Needles Segment to Drive Traction owing to Greater Assistance of Needles during Breast Biopsy Procedures*
The vacuum-assisted breast biopsy device market has grown significantly in recent years, with the vacuum-assisted biopsy needles segment dominating the market. According to market reports, the vacuum-assisted biopsy needles segment was valued at USD 142.47 million in 2021 and is expected to reach USD 197.66 million by 2028, exhibiting a CAGR of 4.2%. One of the primary drivers is the rising prevalence of breast cancer, which has led to an increased demand for breast biopsy procedures. In addition, vacuum-assisted biopsy needles offer a minimally invasive approach to breast biopsy procedures, making them a popular choice among patients and healthcare providers.
According to market research, the North American region is currently leading the global vacuum-assisted breast biopsy device market and is expected to maintain its dominant position from 2022 to 2028. The market in North America is anticipated to grow at a CAGR of 4.4% over the forecast period. Among the countries in the region, the United States is expected to exhibit the highest growth rate, followed by Canada. Furthermore, the availability of advanced healthcare infrastructure and favorable reimbursement policies in North America is projected to propel market growth in the region.
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*Hospital Segment to Register Largest Revenue Share as a Result of Increasing Hospital Admission Related to Breast Cancer*
The global vacuum-assisted breast biopsy device market has grown significantly in recent years, with the hospital segment leading the way. In 2021, this segment dominated the market, accounting for a substantial share of the total market value. It is expected to continue its dominance throughout the forecast period, with a projected value of USD 207.91 million by 2028, growing at a CAGR of 4.3%. As a result, more and more patients are seeking medical attention and undergoing diagnostic procedures. Hospitals are well-equipped to handle the increasing patient volume and perform in-house diagnostic procedures, which further contributes to the growth of this segment.
The Asia Pacific region is experiencing the fastest-growing market in various industries, including healthcare. Unfortunately, there has also been a significant increase in breast cancer cases in many Asian countries over the past few decades. According to SkyQuest, a market research firm, breast cancer mortality rates among Asian women have risen due to various risk factors such as delayed childbirth and increased obesity. Another contributing factor to the rise in breast cancer cases in Asia is the increase in obesity rates. Many Asian countries have experienced a significant increase in obesity over the past few decades, linked to a higher risk of breast cancer.
The vacuum-assisted breast biopsy device market has seen significant growth in recent years, becoming a thriving industry with a strong presence in the medical sector. SkyQuest's comprehensive research report sheds light on the market's growth, highlighting its expansion in terms of size, share, and key players.
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*Key Developments in Vacuum-Assisted Breast Biopsy Device Market*
· Devicor Medical, a startup company, has recently acquired Johnson & Johnson's breast care unit strategically to expand its product portfolio. This acquisition includes transferring all the assets, intellectual property, and employees of Johnson & Johnson's breast care unit to Devicor Medical. In addition to the breast care unit, Devicor also acquired the marketing and distribution rights for gamma detection systems made by Neoprobe Corp., based in Dublin, Ohio. This will provide Devicor with a strong foothold in the rapidly growing gamma detection market, which is used in diagnosing and treating breast cancer.
· IZI Medical Products, LLC has recently introduced a groundbreaking technology for soft tissue biopsy called The Quick-Core Auto Biopsy System, or simply Quick-Core Auto. This fully automatic biopsy tool offers exceptional precision, dependability, and quality, much like IZI's Quick-Core semi-automatic biopsy system. The Quick-Core Auto is a lightweight and efficient tool that makes it easier for healthcare professionals to perform biopsies accurately and quickly, with minimal discomfort to the patient.
· Guardant Health has received the green light from the US FDA to utilize its Guardant360CDx liquid biopsy test as a companion diagnostic (CDx) for ORSERDU (elacestrant). This significant milestone means that the Guardant360CDx test can now be used as a CDx for advanced or metastatic breast cancer patients with ESR1 mutations, likely to benefit from treatment with ORSERDU. The Guardant360CDx test is a non-invasive liquid biopsy test that uses a simple blood sample to detect cancer-related genomic alterations.
*Key Questions Answered in Vacuum-Assisted Breast Biopsy Device Market Report*
· What key factors should market players consider when tailoring their marketing strategies to target specific markets?
· Based on current trends and market data, which segments and regions are projected to experience the most growth during the forecast period?
· How can market research help companies stay ahead of emerging trends and identify new opportunities in their industry?
· What major steps can companies take to prepare for unexpected challenges and disruptions in their industry?
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