Sellbyville, DE -- (SBWIRE) -- 01/22/2019 -- The Biopsy Devices Market to exceed USD 3 billion by 2024 as per a new research report.
Advancements in the field of biopsy devices and rising need for early disease diagnosis will drive global biopsy devices market over the forecast timeframe. Increasing demand for minimally invasive surgeries and effective diagnostic procedures should fuel industry growth.

Increasing prevalence of cancer and rising genetic disorders coupled with growing geriatric population will stimulate the industry. Moreover, better-quality healthcare infrastructure, development of new treatment alternatives and rising research and development spending by medical companies should propel industry growth. Biopsy devices market growth will be hindered by risk of infection, stringent government regulations, soaring prices and reimbursement issues.

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Biopsy guidance systems dominated the industry owing to increased reimbursement rates for image-guided biopsy approach and unobstructed view. Additionally, access to cancer screening for earlier diagnosis, increase in the number of professionals performing histological diagnoses and high patients' survival will fuel business share.

Needle-based biopsy guns segment will witness significant growth during the forecast period due to growing preference coupled with low post surgery infections and reduction in the anxiety levels in the women. The demand for vacuum-assisted guns due to growing preference for minimally invasive procedures will contribute towards highest segment share.

U.S. biopsy device market share accounted for largest regional revenue share due to growing prevalence of breast cancer and increasing exposure to toxic chemicals. Furthermore, focus on preventative care to improve health and reduce the financial burdens associated with disease will drive industry growth.
China biopsy devices market should grow at a significant rate over the forecast period. Increasing elderly population base coupled with high prevalence of tumor will fuel the industry. The country will exhibit significant growth during the forecast period due to government's public health care reforms and proliferating lifestyle diseases.

UK biopsy devices market will witness robust growth over forecast period due to availability of opportunities for clinical device manufacturers. Moreover, rising awareness towards primary care, training and education, better quality infrastructure and high expenditure in public health and R&D.
Improved healthcare system, growing lifestyle changes and increasing government initiatives to offer better healthcare facilities will drive Brazil biopsy devices market. Burden of infectious diseases and increased risk of non-communicable diseases should enable business growth at a substantial rate. Factors like accessibility and high-quality health system will boost the South African biopsy devices market.

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Cancer will remain a leading cause of death worldwide. The industry should witness growth owing to increasing demand for minimally invasive treatment coupled with short hospital stay and early tumor detection.

Some of the major industry players are CareFusion, C.R. Bard, Devicor Medical Products and Hologic. Industry participants are consolidating their market position by increasing their focus on merger and acquisition strategies.