The Europe Biopsy Devices Market is expected to register a CAGR of 6.2% during the forecast period. The major factors driving the growth of the market in the Europe region is due to the increasing preference for minimally invasive procedures, increase in the number of cancer cases, and initiatives undertaken by the government for early diagnosis of cancer.
Biopsy has been one of the major diagnosis techniques for cancer disorders and is widely used in the diagnosis of breast, skin, and prostate cancer. According to the estimates of the Globocan, in 2018, there were about 446,942 new cancer cases in the United Kingdom. While, prostate, breast, lung, colon, and skin cancer are the most common types of cancer detected in the United Kingdom.
There is also a demand for minimally invasive biopsy procedures that is rising at a significant rate in the market. The different types of technologies and products, such as biopsy guiding systems, needle-based biopsy guns, and vacuum-assisted devices are anticipated to witness the high growth during the forecast period. Thus, owing to above-mentioned factors the market is expected to show significant growth over the forecast period.
Key Market Trends
Needle-based Biopsy Instruments is Expected to Hold a Major Market Share in the Biopsy Devices Market
Needle-based biopsy holds the leading share in the market due to the increasing demand for these instruments, for acquiring samples from soft tissues of internal organs, such as breasts, kidneys, and lungs. This is poised to contribute to the growth of the overall market during the forecast period.
According to the Santé Publique France and the French national cancer institute, in France, the number of cancer cases has been increased at significant rates from 1990 to 2018. In 1990 there were 215,000 cases of cancer recorded, which had increased to 382,000 by 2018. Furthermore, there is an increase new cancer cases by 65% in men and 93% in the woman.
Furthermore, in Spain, rising prevalence of cancer and age expectancy is expected to increase the cancer cases in the country in the forecast period. According to the estimates of the Globocan 2018, there were about 270,363 new cases of cancer and 113,584 deaths due to cancer. Hence, the above benefits of needle-based biopsy guns coupled with the increasing demand for minimally invasive procedures will spur the segmental growth.
The Europe Biopsy Devices Market is fragmented competitive. The major market players operating in the biopsy devices market are Hologic, Becton, Dickinson and Company, Boston Scientific Corporation, among other players. These companies are undertaking strategies, such as product launch through technological innovations and partnerships to gain profits in the industry. Thus, the new product launches are the most preferred strategy followed by collaborations and geographical expansion for market capitalization.
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