Healthcare Medical Devices Biotechnology

Breast Biopsy Market is Expected to Reach USD 3,261.4 Million by 2031

May 2024

Healthcare Medical Devices Biotechnology

As per the report published by Kings Research, the global Breast Biopsy Market was valued at USD 2,011.9 million in 2023 and is projected to reach USD 3,261.4 million by 2031, growing at a CAGR of 6.33% from 2024 to 2031.

The growing shift toward liquid biopsies for early detection and monitoring of breast cancer represents a significant advancement in the field of oncology diagnostics. Liquid biopsies involve the analysis of circulating tumor cells (CTCs), cell-free DNA (cfDNA), or other biomarkers present in bodily fluids such as blood or urine, offering a minimally invasive alternative to traditional tissue biopsies. This approach enables healthcare providers to detect genetic mutations, tumor markers, and other molecular alterations associated with breast cancer without the need for invasive procedures.

Additionally, liquid biopsies provide real-time information about disease progression, treatment response, and the development of resistance mutations, allowing for timely adjustments in treatment strategies. The non-invasive nature and ability to perform longitudinal monitoring make liquid biopsies particularly valuable for breast cancer, where early detection and personalized treatment are crucial for improving patient outcomes. The shift toward liquid biopsies is poised to revolutionize breast cancer diagnosis, monitoring, and treatment decision-making in the upcoming years.

Key Insights

  • Based on the device, the needles segment is expected to grow at a robust CAGR of 7.23% over the forecast period
  • Based on procedure, the stereotactic biopsy segment generated the highest revenue of USD 654.7 million in 2023
  • By application, the hospitals segment is estimated to witness a significant CAGR of 6.93% through the projection period
  • On the basis of region, Asia-Pacific is anticipated to emerge as the fastest-growing region, depicting a CAGR of 6.86% over the forecast period

Increasing Integration of Artificial Intelligence and Machine Learning in Breast Biopsy Devices to Fuel Market Expansion

The integration of artificial intelligence (AI) and machine learning (ML) in breast biopsy devices is driving market progress by enhancing diagnostic accuracy, efficiency, and workflow optimization. AI and ML algorithms possess the capability to analyze vast amounts of imaging and patient data to assist radiologists and pathologists in interpreting biopsy results more accurately and rapidly. These technologies aid in lesion detection, characterization, and risk stratification, thereby reducing the likelihood of false-positive or false-negative findings. Moreover, AI-powered biopsy systems streamline procedural workflows by automating image analysis, biopsy needle guidance, and reporting tasks, leading to shorter procedure times and improved patient throughput. Additionally, the integration of AI and ML in breast biopsy devices holds promise for advancing personalized medicine by identifying biomarkers and molecular signatures associated with treatment response and prognosis. As AI and ML continue to evolve and demonstrate their clinical utility, their integration into breast biopsy devices is expected to drive market growth by improving diagnostic capabilities, operational efficiency, and patient outcomes.

Expanding Applications of Breast Biopsy Techniques Present Lucrative Opportunities for Market Expansion

Increasing applications of breast biopsy techniques in personalized medicine and targeted therapies present lucrative opportunities for market expansion. Traditionally, breast biopsy procedures have predominantly had diagnostic purposes, aimed at determining the presence and nature of breast abnormalities. However, advancements in molecular diagnostics and genomics have transformed biopsy samples into valuable sources of information for guiding personalized treatment decisions. By analyzing genetic mutations, hormone receptor status, and other biomarkers present in biopsy tissue, healthcare providers are tailoring treatment regimens to individual patients, optimizing therapeutic efficacy while minimizing adverse effects. Moreover, biopsy-derived molecular profiling identifies patients who are likely to benefit from targeted therapies, such as hormone receptor blockers or HER2-targeted agents, thereby leading to more precise and effective treatment strategies. The integration of biopsy-derived genomic data into clinical decision-making algorithms holds promise for improving patient outcomes and reducing healthcare costs by avoiding unnecessary treatments or interventions. As personalized medicine continues to gain traction in oncology, the expanding applications of breast biopsy techniques represent a significant opportunity for market growth, thereby driving the demand for innovative biopsy devices, molecular diagnostics, and companion diagnostic assays.

Asia-Pacific to Record a Staggering CAGR of 6.86% Between 2024 and 2031

Based on region, the global breast biopsy market is classified into North America, Europe, Asia-Pacific, MEA, and Latin America. The Asia-Pacific breast biopsy industry is expected to witness considerable growth through the projected period. As economies in the Asia-Pacific region continue to develop and healthcare infrastructure improves, there is a growing focus on enhancing access to advanced medical technologies and improving healthcare outcomes. Additionally, increasing investments in healthcare infrastructure, rising healthcare expenditure, and expanding government initiatives to promote early detection and treatment of breast cancer are expected to fuel the demand for breast biopsy services in the region. Moreover, the growing prevalence of breast cancer in Asia-Pacific countries, coupled with changing lifestyle factors and an aging population, is driving the need for accurate and timely diagnostic procedures. Furthermore, advancements in medical technology, including imaging modalities and biopsy devices, are making breast biopsy procedures more accessible and cost-effective in the region. As a result, Asia-Pacific is emerging as a lucrative market for breast biopsy, thereby contributing to the expansion of the regional breast biopsy market.

Market Players Invest in Product Innovation to Drive Market Development

The global breast biopsy market is fragmented with key players such as Cardinal Health, Hologic, Inc., Becton, Dickinson and Company, Merit Medical System, Trivitron Healthcare, PAJUNK, BIOPSYBELL S.R.L., F. Hoffmann-La Roche Ltd., Cook Group, Devicor Medical Products, Inc. (Mammotome), and others. Companies are employing a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.

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