Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Breast Biopsy Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027”
LOS ANGELES, Feb. 17, 2021 (GLOBE NEWSWIRE) -- The Global Breast Biopsy Market is expected to grow at a CAGR of around 7.4% from 2020 to 2027 and reach the market value of over US$ 1,296.0 Mn by 2027.
Breast Biopsy is a medical procedure that evaluates the suspicious areas of the breast in order to determine whether it is breast cancer. It provides a sample of the breast tissue particularly to identify and diagnose the abnormalities in the cells that are likely to make up breast lumps and other unusual breast changes among others.
The breast biopsy market is segmented on the basis of product, type, guidance, application, and geography. Based on product, the market is divided into biopsy needles, guidance systems, biopsy tables, localization wires, assay kits, liquid biopsy instruments, and others. By type, market segments include needle breast biopsy (core needle biopsy (CNB), fine-needle aspiration biopsy (FNAB), vacuum-assisted biopsy (VAB)), open surgical breast biopsy (excisional, incisional), and liquid breast biopsy (circulating tumor cells, circulating tumor DNA (ctDNA), other biomarkers.
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On the basis of guidance, the market is bifurcated into image-guided biopsy (mammography-guided stereotactic biopsy, ultrasound-guided biopsy, MRI-guided biopsy, other guidance techniques), and liquid biopsy (NGS-based Biopsy, PCR-based biopsy, microarray-based biopsy. Additionally, breast biopsy has application across early cancer screening, therapy selection, treatment monitoring, and recurrence monitoring.
In 2019, North America held the major share (%) in terms of revenue in the global breast biopsy market, and the region is also projected to maintain its dominance over the forecast period from 2020 to 2027. The major economies of the region including the US and Canada are the major revenue contributors to the regional market value. The region is having a potential medical tourism market which is additionally supporting the dominating regional market value.
Furthermore, Asia Pacific is anticipated to experience the fastest growth over the forecast period from 2020 to 2027. The rapidly developing economies of the region are investing in infrastructural development in the healthcare sector is propelling the market growth.
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Some of the leading competitors are Argon Medical Devices, Becton and Dickinson Company, Cook Medical Incorporated, Danaher Corporation, Encapsule medical Devices LLC., Ethicon Endo-Surgery (Johnson & Johnson), Gallini SRL, Hologic Inc., Intact Medical Corporation, Medtronic, Thermo Fisher Scientific, Inc., and F. Hoffmann-La Roche Ltd among others. Breast Biopsy companies have announced mergers and acquisitions, partnerships and collaborations, and new product development to uplift their position in the breast biopsy industry. Major players are also moving into new regions with advanced technologies for gaining a competitive advantage.
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Some of the key observations regarding the breast biopsy industry include:
- Hologic, Inc. has completed the acquisition of SOMATEX Medical Technologies GmbH for approximately US$64 million in January 2021. SOMATEX Medical Technologies GmbH was previously owned by E-Med Solutions GmbH, Berlin. The strategic acquisition is intended t expand the company's portfolio and customer base. SOMATEX is expected to register annual revenue of approximately US$ 13 million in 2020.
- UK HealthCare has officially been recognized as a System of Excellence for Hidden Scar breast cancer surgery in January 2021. It’s the highest level of Hidden Scar designation and K HealthCare is the first and only hospital system in Kentucky to be certified with the designation. Additionally, the surgical option provides a procedure that effectively treats breast cancer while optimizing cosmetic results for the women of Kentucky.
- The US Food & Drug Administration (FDA) has granted the pre-market approval (PMA) to the Imagio® Breast Imaging System from Seno Medical Instruments, Inc. in January 2021. The system uses non-invasive optoacoustic ultrasound (OA/US) to help providers determine in real-time if an identified mass will require more invasive diagnostic evaluation.
- According to ARRS' American Journal of Roentgenology (AJR) estimates of 2021, new suspicious findings occurred in 5.5% of breast MRI examinations performed to monitor response to neoadjuvant therapy, whereas none of these new lesions were malignant. A total of 419 breast MRI examinations in 297 women with mean patient age, 45 years (range 32-65 years) were performed to assess response to neoadjuvant treatment. After exclusions, 23 MRI examinations (5.5%) with new suspicious findings distinct from the site of known malignancy comprised the final study cohort.
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Breast Biopsy Market Value Projected To Reach US$ 1,296 Million By 2027: Acumen Research And Consulting - GlobeNewswire
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