Jersey City, NJ,, Jan. 24, 2024 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Breast Cancer Core Needle Biopsy Market - (By Technology (MRI-based Breast Biopsy, Ultrasound-based Breast Biopsy, Mammography-based (Stereotactic) Breast Biopsy, CT-based Breast Biopsy, Other Image Based Breast Biopsy), By End-use (Hospitals & Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies, Academic & Research Institutes)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the Global Breast Cancer Core Needle Biopsy Market is valued at US$ 697.3 Mn in 2023, and it is expected to reach US$ 1,042.3 Mn by 2031, with a CAGR of 5.34% during the forecast period of 2024-2031.
Core needle biopsies have several benefits compared to conventional surgical techniques, such as reduced invasiveness, quicker recovery, and cost-effectiveness. The market for core needle biopsies is projected to increase due to their vital role in early detection and enhanced patient outcomes, driven by the growing global awareness of early detection. During the Biopsy, tissue or fluid is surgically removed to examine it and determine whether any potential ailments exist. An analysis of the extracted tissue is conducted at a microscopic level to identify the existence of cancerous cells.
Moreover, the market is growing due to breakthroughs in breast biopsy devices and technical improvements. However, the high price of breast biopsies and their long list of unfavourable side effects could prevent the business from growing. Additionally, the rising incidence of breast cancer has made vendor promotion opportunities crucial. Prominent industry participants prioritize broadening their product offerings and obtaining product approvals. Conferences are one of the many venues available to educate people about cancer and raise awareness of the disease.
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Recent Developments:
- In Jan 2021, Somatex Medical Technologies GmbH, a market leader in biopsy site markers and localization technologies, was acquired by Hologic, Inc. for an estimated $64 million, the company disclosed this morning. Hologic's approach to offering an all-encompassing collection of groundbreaking solutions spanning the entire spectrum of breast health care was reinforced by the transaction.
List of Prominent Players in the Breast Cancer Core Needle Biopsy Market:
- Intact Medical Corporation
- Ethicon Surgical Technologies.
- Galling SRL
- Leica Biosystems Nussle GmbH
- Hologic, Inc
- Argon Medical Devices
- Encapsule Medical Devices LLC.
- Cook Medical Incorporated
- Becton Dickinson and Company
- C.R. Bard, Inc.
- Zenalux Biomedical, Inc.,
- F. Hoffmann-La Roche Ltd.,
- OncoCyte Corporation,
- Laboratory Corporation of America Holdings (LabCorp),
- Scion Medical Technologies,
- Planmed Oy,
- Aurora Imaging Technology Inc.,
- Carestream Health,
- Cardinal Health,
- PerkinElmer
- QIAGEN
- Thermo Fisher Scientific
- Medtronic
- Danaher Corporation
- Others
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Breast Cancer Core Needle Biopsy Market Report Scope:
| Report Attribute | Specifications |
| Market Size Value In 2023 | USD 697.3 Mn |
| Revenue Forecast In 2031 | USD 1,042.3 Mn |
| Growth Rate CAGR | CAGR of 5.34 % from 2024 to 2031 |
| Quantitative Units | Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
| Historic Year | 2019 to 2023 |
| Forecast Year | 2024-2031 |
| Report Coverage | The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
| Segments Covered | By Technology, End-User |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
Market Dynamics:
Drivers-
The increasing frequency of breast cancers and improvements in imaging and biopsy techniques are driving the market for breast biopsy instruments, which is expanding quickly. Innovations in breast biopsy tools and their increasing technical capabilities are driving market expansion. Still, market expansion may be constrained by the high cost of breast biopsy and its many unfavourable side effects. With the rising incidence of breast cancer, vendor advertising opportunities have become crucial. The primary goals of major market participants are diversifying their product offerings and obtaining product approvals. One can use a variety of forums, such as conferences, to increase awareness and disseminate the word about cancer.
Challenges:
The possibility of sample mistakes and ambiguous outcomes from core needle biopsy techniques is one important drawback. The size and location of the tumour may have an impact on the Biopsy's accuracy in identifying breast cancer, which could result in confusing or false-negative results. The pain and discomfort that some patients feel during core needle biopsy treatments is another barrier. This may cause patients to become reluctant or anxious, which may affect their willingness to have the Biopsy done even if it is advised for diagnostic purposes. In addition, there are economic factors that influence market limitations. Accessibility may be restricted by the cost of core needle biopsy operations, including supplies, trained people, and post-biopsy care, especially in areas with scarce healthcare resources.
Regional Trends:
The North America Breast Cancer Core Needle Biopsy market is expected to register as a major market. The two largest economies in the region, the United States and Canada, provide the majority of the market value in the region's revenue. The growing medical tourism in the area supports the value of the current regional market. Besides, Asia Pacific had a considerable market share. The area's quickly developing countries have invested in the construction of healthcare infrastructure, fueling the market's expansion. Additionally, firms can purchase breast biopsy equipment in developing markets as more people become aware of breast biopsy treatments in the diagnostic market in these countries. The swift progress in medical technology in countries such as China, India, & South Korea has led to significant investments in state-of-the-art technologies (such as vacuum-assisted biopsy equipment and liquid breast biopsy) by hospitals and other breast care facilities.
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Segmentation of Breast Cancer Core Needle Biopsy Market-
By Technology
- MRI-based Breast Biopsy
- Ultrasound-based Breast Biopsy
- Mammography-based (Stereotactic) Breast Biopsy
- CT-based Breast Biopsy
- Other Image Based Breast Biopsy
By End-use
- Hospitals & Diagnostic Laboratories
- Pharmaceutical & Biotechnology Companies
- Academic & Research Institutes"
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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