USD 726.81 million
Report ID: SQSG35A2046 | Region: Global | Published Date: April, 2023 | Pages: 286 | Tables: 146 | Figures: 78
Global Vacuum-Assisted Breast Biopsy Device Market size was valued at USD 726.81 million in 2021 and is poised to grow from USD 811.85 million in 2022 to USD 2197.62 million by 2030, growing at a CAGR of 11.7% in the forecast period (2023-2030).
The response time of vacuum-assisted breast biopsy (VABB) is faster than that of other diagnostic devices. The rising prevalence of breast cancer is driving the growth of the vacuum-assisted breast biopsy market. Because of their ability to obtain large amounts of tissues with contiguous specimens, the ability to obtain multiple specimens with single needle insertion, a more accurate diagnosis with a lower cancer miss rate, and lower histological underestimates, vacuum-assisted breast biopsy (VABB) devices are gaining popularity over traditional biopsy methods.
Breast cancer is one of the most common diseases afflicting women in both developed and developing countries. Breast cancer is the second-leading cause of cancer-related deaths in women worldwide, according to the American Cancer Society. The rising number of breast cancer cases has compelled governments around the world to raise awareness about the importance of early detection, which is expected to drive vacuum-assisted breast biopsy device market growth.
US Vacuum-Assisted Breast Biopsy Device Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 726.81 million
Academic and Research Institutes
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The Global Vacuum-Assisted Breast Biopsy Device Market is segmented based on the Procedure, Product, Type, Technique, End user, and region. Based on the Procedure, the market is bifurcated into Tethered, and Untethered. Based on the Product, the market is bifurcated into Vacuum-Assisted Biopsy Systems, and Vacuum-Assisted Biopsy Needles. Based on the Type, the market is segmented into 9-12G, <9G, and >12G. Based on the Technique, the market is segmented into Ultrasound-Guided Biopsy, Stereotactic-Guided Biopsy, MRI-Guided Biopsy, and Others. Based on the End User, the market is segmented into Hospitals, Academic and Research Institutes, Diagnostic and Imaging Centers, and Others. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Vacuum-Assisted Breast Biopsy Device Market Analysis by Product
Based on Product, the vacuum-assisted breast biopsy device market is bifurcated into Vacuum-Assisted Biopsy Systems, and Vacuum-Assisted Biopsy Needles. The market is dominated by Vacuum-Assisted Biopsy needles, The segment was valued at USD 142.47 million in 2021, which is projected to reach USD 197.66 million by 2028 at a CAGR of 4.2%. The rising prevalence of cancer, government and global health organization initiatives, and an increasing preference for minimally invasive procedures are the major factors driving the growth of the vacuum-assisted biopsy needles market. Breast lesions are detected using a variety of image-guiding techniques such as ultrasound, MRI, mammograms, X-rays, and so on. The sample extraction procedure is carried out concurrently. It allows the area of abnormality to be precisely located using imaging guidance so that only samples from the region of interest are removed. As a result, the vacuum-assisted breast biopsy device's reliance on monitoring devices raises the demand for Vacuum-Assisted Biopsy Systems.
Vacuum-Assisted Breast Biopsy Device Market Analysis by End User
Based on the End User, the market is segmented into Hospitals, Academic and Research Institutes, Diagnostic and Imaging Centers, and Others. In 2021, the hospital segment dominated the global vacuum-assisted breast biopsy device market, and it is anticipated to maintain its dominance throughout the forecast period. The segment was valued at USD 154.84 million in 2021 which is projected to reach USD 207.91 million by 2028 at a CAGR of 4.3%. The increasing number of patients visiting hospitals, rising number of in-house diagnostic procedures performed in hospitals, and growing awareness regarding early diagnosis are the major driving the growth of this segment. Furthermore, diagnostic and imaging centers are expected to be the fastest growing segment due to rising healthcare infrastructure and healthcare spending, which is anticipated to drive the demand for advanced cancer diagnostic devices such as vacuum-assisted breast biopsy devices.
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The North America region dominates the global vacuum-assisted breast biopsy device market and is projected to maintain a similar trend over the forecast period. North America's vacuum-assisted breast biopsy device market is projected to grow at a CAGR of 4.4% over the forecast period. The US is also the fastest growing country in the region followed by Canada. Each year, over 1 million breast biopsies are performed in the United States, The American Cancer Society, advises women to participate in self-awareness exams held throughout the year, which help individuals detect any changes in their breast that would be further diagnosed by a physician. Moreover, among all the region, The Asia pacific region is fastest growing market. There has been an exponential rise in breast cancer cases in Asian countries over the last few decades. According to a study on breast cancer in Asia, breast cancer mortality increased among Asian women due to a higher prevalence of breast cancer risk factors such as delayed childbirth, and increased obesity.
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Vacuum-Assisted Breast Biopsy Device Market Driver
High accuracy of Vacuum-assisted breast biopsy (VABB) devices is anticipated to drive the market growth
Vacuum-Assisted Breast Biopsy Device Market Restraint
High cost of VABB devices
The use of VABB is associated with a higher capital cost such as vacuum generators and biopsy hand-pieces as well as a higher running cost of the consumables, including needles, tubing and localizing markers. Due to its higher cost when compared to Fine needle aspiration (FNA) biopsy or core biopsy, VABB is often used as a second line of biopsy in some hospitals and research centers. In such circumstances, VABB is only conducted after inadequate or inconclusive cytology or histology, or when previous FNA or core biopsies yielded contradictory imaging-pathology results.
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The market is dominated by Becton Dickinson and Co (Bd), Devicor Medical Products Inc (Mammotome) and Hologic Inc. Key players in the vacuum-assisted breast biopsy device market are adopting strategies like product launch, merger, and acquisition, and high R&D investments to gain a significant market share. For instance, In March 2021, IZI Medical Products, LLC launched The Quick-Core Auto Biopsy System ("Quick-Core Auto") for soft tissue biopsy. Quick-Core Auto is a lightweight, fully automatic biopsy system that offers the precision, dependability, and quality of IZI's Quick-Core semi-automatic biopsy system.
Vacuum-Assisted Breast Biopsy Device Market Top Player's Company Profiles
Vacuum-Assisted Breast Biopsy Device Market Recent Developments
Rising government support and growing public awareness regarding early detection of breast cancer
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global vacuum-assisted breast biopsy device market analysis, we discovered that despite the high cost of vacuum-assisted breast biopsy devices, key players are focusing on entering developed countries. For developing and underdeveloped countries, there are few or no direct distributors. For Increasing market share, Companies have to build a supply chain in developing countries. Based on Product, the market is dominated by vacuum-assisted biopsy needles. Moreover, Based on End user, the market is dominated by the Hospitals segment. Due to their ability to obtain large amounts of tissues with contiguous specimens, the ability to obtain multiple specimens with a single needle insertion, the ability to diagnose cancer more accurately with a lower cancer miss rate, and a lower rate of histological underestimates, vacuum-assisted breast biopsy (VABB) devices are becoming more and more popular over traditional biopsy methods.
|Market size value in 2021||USD 726.81 million|
|Market size value in 2030||USD 811.85 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Vacuum-Assisted Breast Biopsy Device Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Vacuum-Assisted Breast Biopsy Device Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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