Breast Biopsy Devices Market – Analysis And Forecast (2016-2024): Market Shares And Strategies Of Key Players
Hologic is one of the major company for breast biopsy devices market
Key players operating the breast biopsy devices market include Biomed Diagnostics, Inc., Bard Peripheral Vascular Inc., F. Hoffmann-La Roche Ltd., Hologic Inc., Intact Medical, Mammotome, OncoCyte Corporation and Laboratory Corporation of America Holdings (Labcorp), among others. Major companies in the market are constantly working towards introducing innovative products and lowering production costs in order to enhance profitability. For instance, in the recent times C. R. Bard expanded the use of its devices by offering reusable biopsy handles for free when disposable biopsy needles are purchased.
A breast biopsy is the removal of a sample of breast tissue or cells that is to be tested for breast cancer or any others breast related disorders. Breast biopsy is mainly preferred to detect breast cancer. The medic may recommend a biopsy when the female patient has an uncharacteristic lumps in the breast. A doctor may also recommend a breast biopsy when the patient has an abnormal change in the nipple such as any cellulite, congealing, scaling, or crusting of the skin. If a diagnostic test with the use of mammogram, ultrasound or MRI unveils an area or a region in the breast that appears with a lump in the breast, or in a nearby lymph node, a biopsy may be recommended.
Vacuum-assisted breast biopsy is the dominating segment in the global breast biopsy devices market
Prevalence of breast cancer or suspicious lesions that might need a biopsy increases with age. Vacuum-assisted breast biopsy (VABB) are widely used owing to their low price and quick response time as compared to other diagnostic devices such as ultrasound, x-ray, computed tomography (CT), or magnetic resonance imaging. For instance, according to Hologic, C.R. Bard and Mammotome Company, VABB accounts for 90% of its revenue in the breast biopsy devices. Some of the other factors driving the market for breast biopsy devices market are increasing level of awareness. The American Cancer Society, Inc, advises men and women to attend self-awareness exams conducted through the year, which helps individual to detect any change in their breast which would be further diagnosed by the physician. Higher incidence of breast cancer is also attributed to increasing exposure to toxic chemicals. According to Occupational Safety and Health Agency (OSHA) and the National Institute of Occupational Safety and Health (NIOSH), in the U.S., around 50,000 workers die each year as a result of past exposure to hazardous agents. However, high procedure cost and side effects such as bleeding and infections post-procedure are some of the factors restraining market growth for breast biopsy devices.
VABB and fine aspiration needles contribute major share in breast biopsy devices market
The global breast biopsy devices market is segmented on the basis of product type, procedure type, technology, end user, and geography. On the basis of product type, the market is divided into biopsy needles, biopsy tables, biopsy wires, and guidance systems.
On the basis of procedure type, the market is segmented into fine needle aspiration (FNA) biopsy, core needle biopsy, surgical biopsy and biopsy markers. Core needle biopsy is sub-segmented into stereotactic core needle biopsy, vacuum-assisted biopsies and magnetic resonance imaging biopsy guidance; surgical biopsy is sub-segmented into incisional biopsy and excisional biopsy.
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On the basis of guidance technology, the market is divided into ultrasound-guided, mammography-guided and magnetic resonance.
On the basis of end user, the market is classified into hospitals, ambulatory surgical centers, diagnostic centers, research laboratories, and others.
Increasing breast cancer cases in North America a highly lucrative market
Regional segmentation by Coherent Market Insights comprises North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America accounts for the largest market share, mainly due to presence of major players and early adoption of advanced medical technologies in countries such as the U.S. and Canada. In 2015, according to Susang Komen—a non-profit organization that focuses on breast cancer awareness—there were over 2.3 million breast cancer cases diagnosed in the U.S. According to The European Breast Cancer Coalition, in EU-28 361,600 cases of breast cancer were reported in 2012, and 1 in 8 women in the EU-28 are projected to develop breast cancer before the age of 85. Europe is the second-largest market, owing to large target population—especially comprising elderly people who are more susceptible to diseases due to weakening immune system—along with high acceptance of VABB devices for diagnosis of breast cancer. Growing disposable income and increasing awareness level among the populace in Asia Pacific, along with a large population base is expected to position Asia Pacific as a high growth market in the near future. According to International Association of Cancer Registries, in 2012, over 600,000 new breast cancer cases were reported in Asia, accounting for 39% of all breast cancers diagnosed worldwide.
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