According to Renub Research, Europe Biopsy Devices Market will reach US$ 996.3 Million in 2027. A biopsy is a medical operation that removes tissues or cells from the organs to aid in examining disorders. Surgeons, radiologists, cardiologists, and other medical professionals undertake the procedure using biopsy devices. These devices are made to remove diagnostic-quality specimens while minimizing crush artifacts and tissue fragmentation. Biopsy guiding systems, needle-based biopsy guns, biopsy needles, and biopsy forceps are the most often used biopsy instruments. They are being used in a wide range of healthcare settings throughout Europe, including medical clinics, diagnostic facilities, and hospitals.
Europe Biopsy Devices Market Size is likely to expand at a CAGR of 6.90% during 2021 â€“ 2027:
Increased investments in R&D activities are driving the Europe Biopsy Devices Market. For example, the European Union’s Horizon 2020 initiative awarded â‚¬6.3 million for MRI research and liquid biopsy research. Furthermore, increased public awareness regarding biopsy procedures and screening tests contributes to the region’s market growth. Moreover, healthcare professionals concentrate on minimally invasive (MI) biopsy technologies, expected to boost the market growth.
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Needle-based Biopsy Instruments are Expected to Hold a Major Market Share:
By Product, needle-based biopsy has the largest market share due to the rising demand for equipment for obtaining samples from soft tissues of internal organs such as the breasts, kidneys, and lungs. Hence, the factor above is expected to contribute to the overall market’s growth during the projected period. Furthermore, the growing demand for Fine Aspiration Needles and Core Needles for obtaining samples from soft tissues of internal organs, including the breasts, prostate, and lungs, is propelling the market forward.
By Imaging Technology, CT scan, Stereotactic Guided, Ultrasound Guided, and MRI Guided are all utilized extensively in treating breast cancer, lung cancer, and prostate cancer across a wide range of end-users, including diagnostic centers and hospitals. Furthermore, enhanced healthcare infrastructure and the rising occurrence of infections have boosted the growth of biopsy instruments over the forecast period. This is due to the expansion of the healthcare sector in emerging economies, increased out-of-pocket healthcare spending, and the number of hospitals.
Regional Analysis â€“ Germany is the leading contributor to the Europe Biopsy Devices Industry:
In Europe, Germany is the top contributor to the biopsy device market. It’s because of the high number of qualified medical experts, well-developed infrastructure, and the presence of the majority of essential stakeholders. Furthermore, France is an attractive site for medical device producers. The rapid improvement of healthcare infrastructure in emerging France, combined with high unmet patient requirements and rising breast cancer incidence, is expected to boost demand for biopsy devices.
The Biopsy Devices Market in Europe is very competitive. Becton, Dickinson and Company, Thermo Fisher Scientific Inc, Bio-Rad Laboratories, Exact Sciences (Genomic Health), Biocept, Biocartis, Roche Diagnostics, Myriad Genetics Inc., Qiagen, NeoGenomics Laboratories, and Quest Diagnostics Inc. are the leading market competitors in the biopsy devices industry. To benefit the sector, these companies are pursuing methods such as product introduction through technological advancements and alliances. New product launches are the most favored strategy for market capitalization, followed by collaborations and geographic expansion.
How COVID-19 Affected the Europe Biopsy Devices Industry:
The Coronavirus outbreak damaged the European biopsy diagnostics centers, hospitals, supply chains, and clinical trials. Cancer diagnoses were being delayed since diagnosis services and screening programs had been halted since the beginning of the COVID-19 outbreak. Cancer patients had numerous obstacles outside of the pandemic, including increased susceptibility to severe infection and disruptions in treatment or routine medical care. According to our analysis, the Europe Biopsy Devices Market was negatively impacted from the end of 2019 to the beginning of 2020. According to our estimates, Europe Biopsy Devices Market reached US$ 667.6 Billion in 2021 post recovery from the pandemic scenario.
Renub Research latest report â€œEurope Biopsy Devices Market, Forecast By Product (Needle Based, Biopsy Forceps, Localization Wire, Others), Imaging Technology (CT scan, Stereotactic Guided, Ultrasound Guided, MRI Guided and Others), Country (United Kingdom, France, Germany, Italy, Spain, Russia and Rest of Europe), End-User (Diagnostic Centers, Hospitals and Others), Application (Cancer Type) (Breast Cancer, Lung Cancer, Prostate Cancer and Others), Companies (Becton, Dickinson and Company, Thermo Fisher Scientific Inc, Bio-Rad Laboratories, Exact Sciences (Genomic Health), Biocept, Biocartis, Roche Diagnostics, Myriad Genetics Inc., Qiagen, NeoGenomics Laboratories, and Quest Diagnostics Inc.)â€ provides a detailed analysis of Europe Biopsy Devices Industry.
Product – The market has been studied from 4 viewpoints:
1. Needle Based
2. Biopsy Forceps
3. Localization Wire
Imaging Technology – The market has been studied from 5 viewpoints:
1. CT scan
2. Stereotactic Guided
3. Ultrasound Guided
4. MRI Guided
Country – The market has been studied from 7 viewpoints:
1. United Kingdom
7. Rest of Europe
End-User – The market has been studied from 3 viewpoints:
1. Diagnostic Centers
Application (Cancer Type) – The market has been studied from 4 viewpoints:
1. Breast Cancer
2. Lung Cancer
3. Prostate Cancer
â€¢ Initiatives/Recent Developments
â€¢ Financial Insight
1. Becton, Dickinson and Company
2. Thermo Fisher Scientific Inc
3. Bio-Rad Laboratories
4. Exact Sciences (Genomic Health)
7. Roche Diagnostics
8. Myriad Genetics Inc.
10. NeoGenomics Laboratories
11. Quest Diagnostics Inc.