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Smart Biopsy Market to reach a market size of $3.2 billion by 2025

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According to a new report Global Smart Biopsy Market, published by KBV Research, The Global Smart Biopsy Market size is expected to reach $3.2 billion by 2025, rising at a market growth of 5.3% CAGR during the forecast period.

In the application segment, breast cancer sub-segment dominated the market in 2018. The reason being, it’s the most common cancer diagnosed among women over the age of 45. This cancer grows either in lobules (glands that produce milk) or in ducts that usually form in breast cells. The Skin cancer market is anticipated to grow at a CAGR of 5.8% during (2019-2025). The Prostate cancer market is poised to grow at a CAGR of 6.26% during the forecast period.

North America dominated the smart biopsy device market in 2018. This dominance is linked to increased cancer prevalence, increased awareness of cancer screening, the existence of well-established healthcare facilities, and the presence of early tests and treatments in the region. The Europe market is expected to witness a CAGR of 4.9% during (2019-2025). The Asia- Pacific region is anticipated to experience the highest growth rate of 6.6% during the forecast period. This rapid growth rate can be attributed to extensive government initiatives, healthcare spending, cancer awareness campaigns, and the availability of technologically advanced smart biopsy devices.

Structural Insights: https://www.kbvresearch.com/smart-biopsy-market/

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Danaher Corporation, Argon Medical Devices, Inc., Cardinal Health, Inc., Canon, Inc. (Canon Medical Systems Corporation), Boston Scientific Corporation, Olympus Corporation, Hologic, Inc., B. Braun Melsungen AG, Cook Medical, Inc. (Cook Group) and Medtronic Plc.

Recent Strategies Deployed in Smart Biopsy Market

» Collaborations, Partnerships and Agreements:

Jun-2019: Argon Medical signed a licensing agreement with Hatch Medical, a US-based medical device incubator and technology brokerage firm. Under this agreement, Hatch has provided the license of manufacturing and distributing rights to Argon for its family of liver access products, including the Scorpion Transjugular Intrahepatic Portasystemic Shunt (TIPS) Access Systems. This system complements to its TLAB transjugular liver biopsy system.
Jan-2019: Olympus came into partnership with USC for advancing research into cancer prevention, diagnosis, and treatment with the help of precision medicine. This partnership demonstrates the clinical utility of new technologies, which combines the workflow of primary diagnosis and surgical biopsy with microscopic cellular and molecular characterization.
Jun-2018: Olympus collaborated with Hitachi Healthcare Americas, a leader in ultrasound and CT/MRI medical imaging. In this collaboration, they will distribute the ARIETTA 850, a new OLED monitor and efocusing technology that enhances the ultrasound images and allows for more detailed observation.
Mar-2018: Hologic teamed up with Philips for offering care professionals’ integrated solutions including advanced informatics and services for screening, diagnostic imaging modalities, and diagnosis and treatment of women. This collaboration integrates Philips’ portfolio of MRI, CT, ultrasound, X-Ray Systems, etc. with Hologic’s innovative mammography technologies.
Jan-2018: Olympus and Ruhof signed an agreement for the distribution of Ruhof’s Guardian Endoscope Single-use and Disposable Valve Set. These sets contain suction, one/air water, biopsy valve and helps in prevention of cross contamination.

» Acquisition and Mergers:

Nov-2019: Canon Medical, a subsidiary of Canon, Inc., announced an agreement to acquire 70% stake in Quality Electrodynamics (QED), a US-based diagnostic imaging company. QED is engaged in the development of MRI technology for radiofrequency coils. The acquisition helps in capturing the diagnostic images of the human anatomy.
Aug-2019: Boston Scientific acquired BTG PLC that develops and commercializes the products used in minimally invasive procedures targeting vascular diseases and cancer.
May-2019: Argon Medical took over Mana-Tech, Ltd., a distributor of radiology consumables and biopsy products in U.K. This acquisition helps Argon in expanding its reach to U.K. by offering its wide range of products like interventional radiology, guidewires, vascular surgery products, etc. to the customers in U.K.
Oct-2018: Boston Scientific took over Augmenix Inc., developer of the SpaceOAR Hydrogel System for help in reducing the common and deliberating side effects, which men may experience after receiving radiotherapy to treat prostate cancer.
Sep-2018: Hologic signed a definitive agreement to acquire Focal Therapeutics, a medical device maker. The acquisition helps Hologic in expanding its ability to help women diagnosed with breast cancer from screening with the help of surgery.
Jul-2018: Hologic took over Faxitron Bioptics, a leader in digital specimen radiography. The acquisition broadens the portfolio of Hologic’s Breast Health. The portfolio of Faxitron includes digital specimen radiography, breast lesion localization, and sentinel lymph node biopsy.
Apr-2018: Boston Scientific announced the acquisition of nVision Medical Corporation, a privately-held company focused on women’s health. NVision devices collect cells that correlate with post-surgery definitive diagnosis of ovarian cancer while testing.
Apr-2018: Olympus signed an agreement to acquire lithotripsy system from Cybersonics in order to extend its urology portfolio.

» Product Launches:

Apr-2019: Hologic launched Trident HD specimen radiography system in the U.S. This system delivers improved workflow and enhanced image quality with instant sample verification during breast-conserving surgeries and stereotactic breast biopsies. This system has the feature of biggest detector, which provides clinicians a complete image of large breast surgical specimens and a variety of biopsy and surgical samples.
Mar-2019: Canon Medical, a subsidiary of Canon, Inc., launched 33 MHz ultra-high frequency linear transducer on Aplio i800 for providing spatial resolution and extremely fine detail in the near field. It offers detail for B-mode and Color Flow imaging and useful in surgical planning.
Feb-2019: Canon Medical, a subsidiary of Canon, Inc., introduced AiCE (Advanced intelligent Clear IQ Engine), a deep convolutional neural network (DCNN) image reconstruction technology for computed tomography (CT). This technology uses deep learning technology in order to differentiate the signal from noise so that it can remove the noise while it preserves the true signal.

Global Smart Biopsy Market Segmentation

By Application

Breast cancer
Skin cancer
Liver cancer
Prostate cancer and
Others

By Geography

North America

US
Canada
Mexico
Rest of North America

Europe

Germany
UK
France
Russia
Spain
Italy
Rest of Europe

Asia Pacific

China
Japan
India
South Korea
Singapore
Malaysia
Rest of Asia Pacific

LAMEA

Brazil
Argentina
UAE
Saudi Arabia
South Africa
Nigeria
Rest of LAMEA

Companies Profiled

Danaher Corporation
Argon Medical Devices, Inc.
Cardinal Health, Inc.
Canon, Inc. (Canon Medical Systems Corporation)
Boston Scientific Corporation
Olympus Corporation
Hologic, Inc.
B. Braun Melsungen AG
Cook Medical, Inc. (Cook Group)
Medtronic Plc.

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