Key Players in the Breast Biopsy Devices Market: A Competitive Analysis

[Snehal Shaha]

The major factors driving the growth of Breast Biopsy Devices Market include the growing prevalent cases of breast cancer, the increasing number of breast cancer screening programs, the growing demand for minimally invasive and non-invasive procedures, and the improved reimbursement scenario.

What the Market Looks Like?
Breast Biopsy Devices Market is projected to reach USD 2.6 billion by 2028 from USD 1.6 billion in 2023, at a CAGR of 10.0% from 2023 to 2028.

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Market Segmentation: -
Based on the type, the global breast biopsy devices market is segmented into biopsy needles, guidance systems, localization wires, assay kits, liquid biopsy instruments, biopsy tables, and other devices. The assay kits segment is expected to grow at the highest CAGR during the forecast period.

Based on the procedure, the breast biopsy devices market is segmented into needle open surgical breast biopsy, breast biopsy, and liquid breast. The liquid breast biopsy segment is anticipated to register the highest growth rate over the forecast period.

Based on application, the market is segmented into early cancer screening, therapy selection, treatment monitoring, and recurrence monitoring. Early cancer screening accounted for the largest share of the market in 2022. However, the therapy selection segment is expected to grow at the highest CAGR during the forecast period.

Based on the end user, the breast biopsy devices market is segmented into hospitals & surgical centers, breast care centers, and imaging clinics & diagnostic centers. The hospitals & surgical centers segment accounts for the largest share of the market in 2022.

What Drives the Market?
The growth of the global market for Breast Biopsy is primarily influenced by the following factors:

1 Growing incidence of breast cancer
2 Increasing number of breast cancer screening programs
3 Increasing demand for minimally invasive and non-invasive procedures
4 Growing awareness regarding early detection of breast cancer
5 Improved reimbursement scenario.

Regional Analysis: -
The North American breast biopsy devices market is estimated to grow significantly from 2023 to 2028. factors such as ongoing technological advancements, rising breast cancer incidence rates, favorable reimbursement scenarios, and new breast density notification laws drive market growth in North America. This region has a rise in healthcare investment and expenditure, offering significant growth opportunities for the key players.

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Recent Developments:
• Hologic, Inc, an innovative medical technology company primarily focused on improving women’s health, announced today that it has completed the purchase of SOMATEX Medical Technologies GmbH; the deal size is $64 million.
• In 2022 Danaher Corporation launched Mammotome Revolve EX Dual Vacuum-Assisted Breast Biopsy System, the first vacuum-assisted biopsy device designed specifically for the excision of benign breast lesions and is twice as fast as traditional vacuum-assisted breast biopsy systems.
• Argon Medical Devices announced the launch of the SuperCore advantage semi-automatic biopsy instrument’s newest addition to its soft tissue biopsy product portfolio in the united states. The next-generation soft tissue biopsy instrument provides a superior volume of tissue samples. Collecting more tissue volume may increase the likelihood of an accurate diagnosis.
Top Key Players: -
As of 2022, prominent players in the breast biopsy devices market are Hologic Inc. (US), Danaher Corporation (US), Argon Medical Devices (US), Medtronic (IRL), Merit Medical Systems (US), Menarini-Silicon Biosystems (ITL), Varian Medical Systems, Inc. (Germany), Planmed Oy (Finland), Sterylab S.R.L (Italy), Biocept, Inc. (US), Bio-Rad Laboratories, Inc. (US), F. Hoffmann-La Roche Ltd (Switzerland), Qiagen (Germany) and Exact Sciences Corporation (US).
The breast biopsy devices market is highly competitive, with several key players globally. Market dynamics, such as technological advancements, regulatory changes, and the evolving healthcare landscape, can impact the growth and development of this market.