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According to the biopsy devices market analysis, Technavio’s market research analysts have predicted that this market will grow steadily at a CAGR of more than 6% by 2020. The recent years have seen a worldwide increase in the prevalence of liver diseases, which is mainly due to reasons like alcohol consumption, obesity, and viral hepatitis. Imaging tests such as X-rays and CT scans are effective in identifying areas of concern but cannot distinguish between cancerous and non-cancerous cells. Liver biopsy provides an accurate way of detecting the disease and disorder present in the liver, where a needle is inserted into the organ to remove a small piece of tissue that can be later examined under a microscope for signs of disease or damage. An increase in the number of liver diseases has led to the rise in awareness for regular diagnosis of the liver condition, which in turn, will lead to the growth in the number of liver biopsy tests.
In terms of geography, the Americas will account for more than 51% of the total share of the market and will dominate the industry throughout the forecast period. This attributes to the availability of highly developed healthcare infrastructure that provides people with easy access to advanced diagnostic tests. The US and Canada are the major contributors to the biopsy devices market growth. The awareness among people about the importance of the early diagnosis of cancer will drive the demand for biopsy instruments.
The market is largely diversified due to the presence of several international and regional players. Leading vendors such as BD, COOK Medical, C.R. Bard, and Devicor Medical Products offer a wide range of products and currently dominate the market. Vendors mainly compete on various factors such as price, availability, brand, and variety and the local players pose a stiff competition to the regional vendors since they offer biopsy solutions at a price that is comparatively lower than the established vendors. Major players acquire small and regional vendors and also form strategic partnerships with other vendors to expand their global reach. Though the market exhibits immense potential for growth, the need for huge capital and advances in product innovations will prevent new players from entering the market. Existing vendors have the need to expand geographically and revive domestic demand to achieve sustained growth.
The leading vendors in the market are
The other prominent vendors in the market are Argon Medical Devices, Boston Scientific, Cardinal Health, DTR Medical, FUJIFILM, Gallini, Heart Medical Europe, Hologic, Intact Medical, Ethicon US, Mauna Kea Technologies, MDNA Life Sciences, MDxHealth, Sanarus, and Veran Medical Technologies.
The surgical biopsy segment accounted for more than 56% of the total shares of the market and dominated the industry during 2015. Surgical biopsy is considered to be the most accurate method of conducting biopsies, yielding a highly consistent and reliable analysis of tissue samples. Also, it is much easier to conduct the mass removal of tissue assisting in the detailed study of tumors.
According to this market study, the biopsy needle-based guns segments will dominate the biopsy devices throughout the predicted period and will account for more than 41% of the total market share by 2020. Needle-based biopsy guns have found significance in various applications, including clinical oncology, hematology biopsy, and interventional radiology and are used for the extraction of soft tissues from internal organs. The need to eliminate even the slightest chances of infection will increase the demand for disposable devices, in turn, fueling the growth of this market segment.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by procedural type
PART 07: Market segmentation by product type
PART 08: Geographical segmentation
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Key vendor analysis
PART 16: Appendix
PART 17: Explore Technavio
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