The Asia-Pacific Biopsy Devices Market was worth $279 million in 2016 and estimated to be growing at a CAGR of 8.54%, to reach $420.29 million by 2021. Asia pacific is estimated to represent strong potential market growth in the biopsy devices market due to fast technological advancements.
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Biopsy involves removal of cells or tissues from tumours located in different parts of the body and the devices used for this process are called biopsy devices. The market is regarded as by rapid innovation and technological developments, leading to continuous product improvement ensuring better patient comfort and minor trauma during and after surgery.
The market is anticipated to record growth largely because of the quickly aging population and a parallel increase in the incidence of cancer. Competitive pricing of products and reimbursement for biopsy procedures will lead to a higher uptake of biopsy devices, thereby driving growth of the market. High cost of biopsy devices is likely to hamper the growth of the market.
The Asia-Pacific biopsy devices market is segmented on the basis of product into instruments and consumables. Instruments segment is further segregated into manual, automated and semi-automated. Consumables segment is sub-segmented into reagents and kits. On the basis of type the market is bifurcated into needle biopsy and surgical biopsy. Needle biopsy segmented is further segmented into core needle biopsy, fine needle biopsy and vacuum-assisted biopsy. Surgical biopsy segment is divided among Incisional biopsy and Excisional biopsy. Based on application the market is segregated into scientific research, medical diagnosis, agricultural applications and genetic fingerprinting & sex determination. By End User, the market is divided into pharmaceutical and biology industry, academic research institute, contract research organizations and forensic labs.
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Based on geography the market is analysed under various countries namely, China, Japan, South Korea, India and Australia. China is dominating the market and India is estimated to grow at highest CAGR in the forecast period due to rising aging population.
The key companies dominating the biopsy devices market are Medtronic, Leica Biosystems, Hologic Inc., Boston Scientific Corporation, Becton, Cook Medical Inc., C.R. Bard Inc., Mauna Kea Technologies, Ethicon EndoSurgery Inc., Veran Medical Technologies, Dickinson and Company, Fujifilm Medical Systems, MDxHealth, Argon Medical Devices Inc and Intact Medical Corp.
Major Points From The Table Of Contents:
Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
Market Leaders’ Analysis
Market Outlook and Investment Opportunities
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