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Rising Incidence of Breast Cancer Driving Breast Biopsy Devices Market

The various factor positively impacting the market are surging incidence of breast cancer, technological advancements in breast imaging equipment, aging women population, growing number of breast screening programs, and rising demand for minimally invasive surgeries. Breast biopsy devices remove tissue or sometimes fluid from the suspicious area, which is then examined under a microscope and tested further to check for the presence of breast cancer.

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Rising Incidence of Breast Cancer Driving Breast Biopsy Devices Market

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  1. Breast Biopsy Devices Market To Generate $1,426.2 Million by 2023 1 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  2. A number of factors, such as the increasing cases of breast cancer, surging number of breast cancer screening programs, burgeoning demand for minimally invasive surgeries, aging female population, and technological developments in breast imaging equipment, are projected to propel the breast biopsy devices market at a healthy CAGR of 11.1% during the forecast period (2018–2023). According to P&S Intelligence, the market revenue will grow from $761.2 million in 2017 to $1,426.2 million by 2023. The burgeoning breast biopsy device demand can be primarily ascribed to the growing prevalence of breast cancer worldwide. According to the International Agency for Research on Cancer (IARC), 2,261,419 cases of breast cancer were recorded worldwide in 2020. Furthermore, the World Health Organization (WHO) states that this cancer was responsible for 685,000 female deaths globally in 2020. This chronic disease arises in the lining cells (epithelium) of the lobules (15%) or ducts (85%) in the glandular tissue of the breast. In recent years, the use of the liquid biopsy technique has become a prominent trend in the breast biopsy devices market. Essentially the analysis of circulating tumor deoxyribonucleic acid (ctDNA), a liquid biopsy is a low-risk non-invasive process to study the genetic profile related to cancer, detect cancerous tumors, and track the response of patients to the treatment. In this process, the DNA released into the circulatory system after the proliferation and death of cancer cells is taken out of the body via a syringe and analyzed. The product segment of the breast biopsy devices market is classified into biopsy tables, biopsy wires, biopsy needles/guns, guidance systems, and others. Among these, the guidance systems category generated the highest revenue in 2017 because a single guidance system offers options for both stereotactic breast biopsy and tomosynthesis, which are needed in almost every breast biopsy procedure. Whereas, the biopsy needles/guns category is expected to exhibit the fastest growth in the forecast years. To receive free sample pages of this report@ https://www.psmarketresearch.com/market-analysis/breast-biopsy-devices- market/report-sample Geographically, North America contributed the highest revenue to the breast biopsy devices market in 2017. The usage of these devices is substantially high in the U.S. due to the surging cases of breast cancer, escalating healthcare spending, booming private healthcare sector, and rising population of the elderly. Additionally, the prospering economy of the U.S. and mounting investments being made by federal, state, and local government agencies, research institutions, voluntary healthcare associations, professional societies, and pharmaceutical and biotechnology companies in healthcare research and development (R&D) will support the market growth. 2 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  3. Whereas, the Asia-Pacific (APAC) breast biopsy devices market is projected to display the fastest growth during the forecast period, due to the surging geriatric population, rising prevalence of breast cancer, soaring public awareness regarding the disease, increasing technological advancements in these devices, and booming healthcare expenditure in the region. For instance, the IARC states that 178,361 women in India were diagnosed with breast cancer in 2020. Similarly, the National Breast Cancer Foundation, Australia, estimates nearly 20,000 breast cancer diagnoses every year. Therefore, the escalating number of breast cancer cases and the surging use of the liquid biopsy technique for its diagnosis and staging are expected to steer the market growth in the upcoming years. The research offers market size of the breast biopsy devices for the period 2013–2023. Market Segmentation by Product Guidance Systems Biopsy Needles/Guns Biopsy Tables Biopsy Wires Others Market Segmentation by Procedure Type Vacuum-Assisted Biopsy Core Needle Biopsy Fine Needle Aspiration Biopsy Surgical Biopsy Market Segmentation by Imaging Modality Mammography Guided Stereotactic Biopsy Ultrasound Guided Biopsy Magnetic Resonance Imaging (MRI) Guided Biopsy Computed Tomography (CT) Guided Biopsy Others Market Segmentation by Geography North America Breast Biopsy Devices Market • • • • • • • • • • • • • • • oBy Product oBy Procedure Type oBy Imaging Modality oBy Country – U.S. and Canada Europe Breast Biopsy Devices Market • 3 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  4. oBy Product oBy Procedure Type oBy Imaging Modality oBy Country – Germany, France, U.K., Italy, Spain, and Rest of Europe Asia-Pacific (APAC) Breast Biopsy Devices Market • oBy Product oBy Procedure Type oBy Imaging Modality oBy Country – Japan, China, India, Australia and Rest of APAC Rest of the World (RoW) Breast Biopsy Devices Market • oBy Product oBy Procedure Type oBy Imaging Modality oBy Country – Brazil, Mexico and Rest of RoW 4 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  5. Disclaimer: P&S Intelligence always keeps its customers’ interests at the core while carrying out research activities. P&S Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However, the information in publications is subject to fluctuations, as it is based on primary interviews of officials from various companies or organizations. P&S Intelligence is not responsible for any incorrect data provided by the key industry players of the concerned domain. The information or analysis in P&S Intelligence publications represents opinions based on research and should not be interpreted as statements of fact. Information in this report was believed to be correct at the time of publication, but cannot be guaranteed. P&S Intelligence does not endorse any product, service, or vendor depicted in its research publications. All intellectual properties, including trademarks and copyrights, belong to their respective owners and may be protected by copyright. Under no circumstance can these be reproduced in any form without prior written agreement of their owners. An order for market research report is intended for internal use of the company only and not for disclosure to third parties or any other publication in general. No service, report, or part thereof provided by P&S Intelligence can be reproduced, republished, resold, revealed, distributed, circulated, or sublicensed in any medium or form now realized or hereafter become realized, including but not limited to, all forms of optical-based media, magnetic, electronic, or digital, without a written permission from Prescient & Strategic Intelligence Pvt. Ltd. Kindly write to: enquiry@psmarketresearch.com B-13, Sector – 2, Noida, U.P. – 201301, INDIA Contact No: +91 120 4541 337 US/Canada Toll-Free: 1-888-778-7886 5 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

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