Market Definition
Breast biopsy is a procedure to remove a small sample of breast tissue for laboratory testing. Breast biopsy helps to evaluate a suspicious area in the breast to determine whether it is breast cancer. The type of breast biopsy includes Fine Needle Aspiration, Core Needle Biopsy, and surgical biopsy.
Market Dynamics
Rising incidence of breast cancer is expected to drive the market demand. For instance, according to the American Cancer Society, 1 in 8 U.S. women develop invasive breast cancer over her course of life. In 2020, there were 276,480 new cases of invasive breast cancer along with 48,530 new cases of non-invasive breast cancer, will be registered in the United States. In 2020, there were around 2,620 new cases of invasive breast cancer are expected to be registered in the United States. According to the American Institute for Cancer Research, breast cancer is the second most common cancer globally. There are around 2 million new cases of breast cancer in 2018. Around 627,000 women died from breast cancer, which is approximately 15% of all cancer deaths among women in 2018. According to the Cancer Research UK, there are around 55,200 new breast cancer cases of women and 370 new breast cancer cases of men are registered in the UK every year. In the U.K, around 11,500 women and 80 men die from breast cancer every year. In 2018, breast cancer accounted for 14% of cancers in women, which accounts for 1,62,468 new registered cases and 87,090 reported deaths in India. Further, rising demand of minimally invasive surgeries is a key driving factor of the market. However, risk associated with biopsy needles might hamper the market growth. Risks associated with a breast biopsy include bruising and swelling of the breast, infection or bleeding at the biopsy site, and altered breast appearance, depending on tissue removal and how breast heals. Moreover, technological advancements in breast biopsy devices would provide lucrative opportunities for the market in coming years.
Market Segmentation
The global breast biopsy market is mainly classified based on type and image guidance. Type is further segmented into Fine Needle Aspiration, Core Needle Biopsy, and Vacuum Assisted Biopsy (VAB). By image guidance the market is divided into Mammogram-Guided Biopsy, Ultrasound Guided Biopsy, Magnetic Resonance Imaging (MRI) Guided Biopsy, and CT-Guided Biopsy.
Based on type, fine-needle aspiration is estimated to have largest share in 2020 due to a rise in the demand for minimally invasive procedures. However, the vacuum assisted biopsy (VAB) is anticipated to grow at a high CAGR during the forecast period. Moreover, Core Needle Biopsy has shown significant growth in 2020 owing to the rising strategic acquisition between companies to extend their market share for breast biopsy products. For instance, IZI Medical Products, LLC, an interventional radiology medical device company has acquired soft tissue biopsy and breast localization needle assets from Cook Medical. The assets include Quick-Core Biopsy Needle, MReye Breast Localization Coil, and the Kopans and X-Reidy Lesion Localization Needles.
Regional Analysis
Based on geography, the global breast biopsy market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.
North America was dominating the breast biopsy market in 2020, owing to the rising prevalence of breast cancer, increasing government spending on breast cancer research studies, growing number of awareness programs for the detection of breast cancer, and commercialization of new imaging technique for breast biopsy. For instance, GE Healthcare has introduced Serena Bright, the healthcare industry’s first contrast-enhanced mammography solution for biopsy. The new mammography-guided biopsy technique is an alternative to MR-guided breast biopsy, which can improve the patient experience. With Serena Bright, breast biopsy exams can be done with the same mammography equipment and in the same room as the screening or diagnostic mammogram.
Competitive landscape
Key players operating in the breast biopsy industry include Hologic Inc., Argon Medical Devices Inc., Becton, Dickinson and Company, Sterylab S.R.L., Medtronic plc, Cook Medical LLC, IZI Medical Products, Mammotome, Stryker, and PAJUNK.
The partnership between companies to develop breast biopsy devices, increasing regulatory approval of breast biopsy system, strategic acquisition between companies to rise there share for breast biopsy system and devices, and commercialization of innovative breast biopsy system are some of the strategies adopted by the major companies. For instance, on August 28, 2020, Hologic, Inc., an innovative medical technology company primarily focused on improving women’s health, has introduced the improvements to the Brevera Breast Biopsy System with CorLumina Imaging Technology. It is the world’s first breast biopsy solution to combine vacuum-assisted tissue acquisition, real-time imaging verification and advanced post-biopsy handling in one, integrated system.
Breast Biopsy Market Key Segments:
By Type
- Fine Needle Aspiration
- Core Needle Biopsy
- Vacuum Assisted Biopsy (VAB)
By Image Guidance
- Mammogram-Guided Biopsy
- Ultrasound Guided Biopsy
- Magnetic Resonance Imaging (MRI) Guided Biopsy
- CT-Guided Biopsy
Key Global Breast Biopsy Industry Players
- Hologic Inc.
- Argon Medical Devices Inc.
- Becton, Dickinson and Company
- Sterylab S.R.L.
- Medtronic plc
- Cook Medical LLC
- IZI Medical Products
- Mammotome
- Stryker
- PAJUNK
What Report Provides
- Full in-depth analysis of the parent Industry
- Important changes in market and its dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional growth potential
