- Cancer is categorized by anomalous cell growth.These anomalous cells have the ability to infect other tissues and cells. Cancer cells spread to other parts of the body through the lymph and blood systems. More than 100 cancers exist and affect people of both the sexes. Biopsy is a medical test to analyze and extract cancer tissues. The devices which help in performing a biopsy are referred to as biopsy devices. The biopsy devices market consists of such devices.
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The biopsy devices market is estimated to grow considerably over the coming years. This is on account of rising cancer cases in the world.The market was reported to have garnered revenue worth about USD 1.3 billion in 2011. Deeming the present trends, it is all set to attain a size of around USD 2.1 billion by 2018. The biopsy devices market is anticipated to record about 6.6 percent CAGR during 2012 to 2018. The said phase is the forecast period. Biopsy devices are broadlyutilized in the post-diagnosis cancer stage, which primarily involves periodical screenings.With greater longevity these days, people have greater chances of contracting cancer.
Augmented cancer incidences alsoowe to altering lifestyles, poor living standards and smoking and alcoholism.Familiarity with this fact has caused improved consciousness regarding medical checkups and regular screenings and steered the biopsy devices market forward. People’s life expectancy is boosting owing to high-tech medical infrastructure and escalating disposable earnings.This results in amagnified base of geriatric populationwith target illnesses, which is estimated to propel further demand for the biopsy devices market and drive its sales.
The demand for procedures involving minimal invasiveness is growing. These procedures lead to less patient distress and faster recuperation time and are preferred over more invasive procedures.Needle-based biopsies facilitate minimally invasive tumor screening. This factor is also projected to increase the demand for the biopsy devices market. The worldwide market is fragmented on account of two categories. These are products and geographies.
The vital market products consist of needles, guidance systems, needle based guns, and forceps. Guidance systems occupied more than 40 percent of the overall demand for the biopsy devices market. This was on account of the high costs of robotic guidance systems. Rising cancer cases, boosting demand for minimally invasive and accurate devices and utilization of client-friendly and sophisticated products contribute towards the high share of guidance systems. Needle based guns are the most profitable sector. Intensified demand for biopsy guns is also predicted to drive the demand for the biopsy devices market.
The market is divided into four regions. These are Europe, rest of the world, North America and Asia Pacific. North America dominated the worldwide biopsy devices market in 2013. The region accounted for 60 percent of the overall share. The European market also enjoys decent product infiltration. Asia Pacific is estimated to develop at the quickest pace(ofmore than 12 percent CAGR) through the forecast period.High infiltration rates of biopsy devices across four geographical regions steer the sales of the biopsy devices market. The huge geriatric population base of Western Europe also contributes to the same.
Information Source: Grand View Research
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