Global Biopsy Devices Market 2016-2020

Global biopsy devices market forecast

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.

Competitive landscape and key vendors