Smart Biopsy Device Market Worth $3.72 Billion By 2026 | CAGR: 5.6 %

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.

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.

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Further Key Findings from the Study Suggest:

  • 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

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