(PharmaNewsWire.Com, July 26, 2017 ) According to the report Latin America Biopsy Devices Market, published by Market Data Forecast, the global market is projected to reach USD 252.27 million by 2021, at a CAGR of 8.15% from 2016 to 2021.
Biopsy Market Devices is a medical test performed to examine and remove cancerous tissue from the body. When a patient is suspected to having cancer, biopsy is used to extract tissues sample for diagnosis of the disease.
The Breast biopsy device market is projected to grow at a productive rate in the next few years. The key factors supporting the industry's growth involve the rising awareness levels with regard to diagnostic procedures through cancer screening programs, global rise in breast cancers in women, and the high demand for less-invasive procedures. However, the degree of risk is directly proportional to the extent of procedure invasiveness. Biopsy causes pain and is a stressful procedure for patients, moreover, approximately 60% to 80% of breast biopsies in women result in a benign judgment. Therefore, women are encouraged to consult experts for a second opinion before undergoing a biopsy procedure, which is likely to hinder the growth of the market.
Latin America Biopsy Devices Market: Drivers & Restraints
High competitive rivalry among the key players to uphold their market shares is expected to fuel innovation and in turn help enhance the overall growth of this market. Increasing prevalence of cancer, growing demand for minimally invasive medical procedures, and increased spending for effective diagnostic procedures are some of the pivotal factors driving the global biopsy devices market. Increase in complaints to breast cancer screening procedure is one of the key restraint for the biopsy devices market.
On the basis of type, this industry is classified into needle breast and open surgical biopsies. The former is further categorized into fine-needle aspiration, core-needle biopsy, and vacuum-assisted core biopsy. The fine-needle aspiration segment is estimated to account for the largest share in 2015 due mainly to a rise in the demand for minimally invasive procedures. On the other hand, the vacuum-assisted core biopsy is anticipated to grow at a high CAGR value during the forecast period owing to the less-invasive nature of this technique, which involves making a small incision through which the needle is inserted, followed by sample acquisition using a vacuum-powered device.
The key products in the industry include needles, tables, localization wires, and guidance systems, among others. The needles segment account for a major share in the year of 2015. This growth corresponds to its wide applicability in the needle breast biopsy market. Most of the enhancements and advancements are perceived in the products segment. For instance, the Stryker PreciseCore needle enables sample acquisition with greater precision and with far less tissue damage risks involved. Furthermore, the guidance systems product segment is anticipated to witness a high growth rate during the forecast period.
Latin America Biopsy Devices Market: Region-wise Outlook
Based on geography the market is analysed under various countries namely, Mexico, Brazil and Argentina. Mexico is dominating the biopsy devices market and expected to continue its dominance over the forecast period.
Key Questions Answered
What is the current and future Biopsy Devices Market outlook in Latin America? What trends are affecting the Latin America market?
What is the competitive landscape and market share of major players in the Biopsy Devices space in Latin America?
What are the key, high growth markets that Biopsy Devices manufacturers should expand into? Which market segments are growing the fastest?
What are the unmet needs with the Biopsy Devices currently on the market? How will emerging technologies fulfil these unmet needs?
What is physician perception and market outlook of Biopsy Devices?
What are the challenges and barriers that have hindered widespread adoption of Biopsy Devices?
Latin America Biopsy Devices Market: Key Players
The key companies dominating the biopsy devices market are Medtronic, Leica Biosystems, Hologic Inc., Boston Scientific Corporation, Becton, Cook Medical Inc., C.R. Bard Inc., Mauna Kea Technologies, Ethicon EndoSurgery Inc., Veran Medical Technologies, Dickinson and Company, Fujifilm Medical Systems, MDxHealth, Argon Medical Devices Inc and Intact Medical Corp.
Reasons to buy Latin America Biopsy Devices Market Report:
Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porters Five Forces Analyses
A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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