In 2017, the breast biopsy devices market generated a revenue of $761.2 million and is predicted to advance at a 11.1% CAGR during the forecast period (2018–2023).
The various factor positively impacting the market are surging incidence of breast cancer, technological advancements in breast imaging equipment, aging women population, growing number of breast screening programs, and rising demand for minimally invasive surgeries. Breast biopsy devices remove tissue or sometimes fluid from the suspicious area, which is then examined under a microscope and tested further to check for the presence of breast cancer.
When product is taken into consideration, the breast biopsy devices market is categorized into biopsy needles/guns, biopsy wires, biopsy tables, guidance systems, and others (which include biopsy sutures, markers, curettes, and punches). Among these, the market was dominated by the guidance systems category during the historical period (2013–2017) due to the availability of stereotactic breast biopsy and tomosynthesis options in a single system. However, the biopsy needles/guns category is expected to account for the major share of the market during 2020–2023.
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In terms of imaging modality, the breast biopsy devices market is divided into ultrasound guided biopsy, computed tomography (CT) guided biopsy, mammography guided stereotactic biopsy, magnetic resonance imaging (MRI) guided biopsy, and others (which include breast thermography, positron emission tomography guided, and percutaneous image-guided core breast biopsy). Out of these, the mammography guided stereotactic division held the largest share of the market during the historical period and is projected to retain its position during the forecast period. The fastest growth is projected to be witnessed by the ultrasound guided biopsy during the forecast period.
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A major factor driving the growth of the breast biopsy devices market is the rising incidence of breast cancer. Breast cancer is the abnormal or uncontrolled growth of cells, which results in the formation of a tumor. It is one of the most common cancer in women across the world. As per the National Cancer Institute, approximately 3,327,552 women were living with breast cancer in the U.S. in 2017. In addition to this, death rates because of breast cancer among the women in the U.S. are higher than any other cancer, besides lung cancer.
Another factor resulting in the growth of the breast biopsy devices market is the increasing demand for minimally invasive surgeries. The development of advanced minimally invasive breast biopsy procedures has replaced traditional procedures. Image-guided needle biopsy and vacuum-assisted breast biopsy are the major minimally-invasive procedures, which are being used by the healthcare providers to offer their patients with the best of healthcare. Similarly, other developments and the growing usage of new innovations are further expected to drive the market in the coming years.
Hence, the market is growing due to the increasing incidence of breast cancer and surging demand for minimally invasive surgeries.
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