Portland, OR, Feb. 22, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global skin biopsy market was valued at $101.2 million in 2021, and is projected to reach $181.58 million by 2031, registering a CAGR of 6% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $101.20 Million |
| Market Size in 2031 | $181.58 Million |
| CAGR | 6.0% |
| No. of Pages in Report | 245 |
| Segments Covered | Type, Indication, End User and Region. |
| Drivers | Rise in prevalence of skin cancer |
| Increase in incidences of skin disorders | |
| Rise in adoption of minimally invasive procedures | |
| Restraints | High cost of skin biopsy procedures |
| Presence of new alternatives to skin biopsies | |
| Opportunities | Growth opportunity in emerging markets |
Impact of Covid-19 on Skin Biopsy Market-
- The COVID-19 outbreak is had a negative impact on growth of the global skin biopsy market. A drop in the number of skin biopsies was observed starting in March 2020, due to the reductions in non-urgent medical visits which negatively impacted the market during the pandemic.
- The frequency of skin biopsy procedures also reduced as a result of variables such a reduction in disease early detection, public health regulations, and social isolation. Together with the shortage of transportation services for hospitals and clinics and a reduction in access to general and specialty healthcare, these factors hindered the market's expansion during the pandemic. However, restoration of these services after pandemic is now prioritize, to ensure that patients receive the suitable care and facilities. Also, investment in manufacturing of skin biopsy devices has also increased after the pandemic, which is anticipated to drive the market in coming years.
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The global skin biopsy market is analyzed across type, indication, end user, and region. The study utilizes tabular and graphical representation to offer a thorough study of the segments and their sub-segments. The segmentation can assist investors and market participants to build strategies based on the top revenue-generating and fastest-growing segments identified by the study.
By type, the punch biopsy segment held the largest share in 2021, and garnered more than upto four-fifth of the global skin biopsy market revenue, and is expected to maintain its dominance by 2031 with a highest CAGR during the forecast period.
By indication, the skin cancer segment contributed to more than two-fifth of the global skin biopsy market share in 2021, and is anticipated to grow at a fastest CAGR during the forecast period.
By end user, the hospital and clinics segment accounted for the highest share in 2021, generating around two-fifth of the global skin biopsy market revenue. On the other hand, diagnostic laboratories segment is anticipated to grow at a fastest CAGR during the forecast period.
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By region, North America held the major share in 2021, and garnered more than two-fifth of the global skin biopsy market revenue. Asia-Pacific, simultaneously, is anticipated to grow at a fastest CAGR from 2022 to 2031.
The key market players analyzed in the global skin biopsy market report include AccuTec, Inc., Becton, Dickinson and Company, Cardinal Health, Innovia Medical (DTR Medical Ltd), Integra LifeSciences, Jai Surgicals Ltd., Kai Group, Paramount Surgimed Ltd., Verna care and World Precision Instruments (WPI). These market players have adopted several strategies including acquisition, branding, expansion and partnership to highlight their expertise in the market. The report is helpful in formulating the business performance and developments by the top players.
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