Global Biopsy Device Market Set for Steady Growth to Reach USD 3,270.4 Million by 2034 at a CAGR of 3.70% | FMI

According to a recent report by Future Market Insights (FMI), the global biopsy device market is on a steady growth path, fueled by rising demand for early diagnostic tools and technological advancements. Valued at approximately USD 2,274.1 million in 2024, the market is projected to expand at a CAGR of 3.70% through 2034, reaching an estimated USD 3,270.4 million by the end of the forecast period.

The report highlights the growing importance of biopsy procedures in modern healthcare systems, driven by increasing cases of cancer and other chronic diseases. As providers and institutions prioritize minimally invasive diagnostic techniques, the biopsy device market is set to grow 1.4 times its current size over the next decade.

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Key factors contributing to this upward trajectory include:

• Surge in early cancer detection initiatives across both developed and emerging markets.
• Technological advancements in biopsy tools, enhancing accuracy, safety, and patient comfort.
• Rising global awareness of preventive healthcare and routine screening.

“Minimally invasive biopsy techniques are not only improving diagnostic precision but also transforming patient care standards,” said an FMI. “With continuous innovation and healthcare investments, the biopsy device market is well-positioned for robust and sustained growth.”

As the need for faster and more reliable diagnostic solutions escalates, stakeholders across the medical device landscape are expected to benefit from strategic developments in this dynamic sector.

Opportunities for Growth:

As healthcare providers increasingly prioritize early detection and preventive healthcare, opportunities for growth within the biopsy device market are abundant. Medical tourism, which has seen a rise in Thailand due to its cost-effective and high-quality medical services, also presents a unique opportunity for market expansion.

Industry Outlook:

The next decade is poised to witness strong collaborations between local healthcare providers and international medical device manufacturers, ensuring that advanced biopsy technologies are more widely available across Thailand. Moreover, the country’s aging population and the growing focus on non-communicable diseases will further fuel demand for diagnostic solutions such as biopsy devices.

Market Highlights:

• India: Expected to have the highest growth rate, with a CAGR of 5.8% among all countries.
• France: Leading the European market with a forecasted growth rate of 4.3%.
• Needle Biopsy Market Segment: Projected to secure the largest market share of 36.6% by 2024.
• Medical Diagnosis: The largest application segment, holding 61.3% of the market share by 2024.

Challenges and Recommendations:

Ethical and legal considerations surrounding biopsy procedures present significant challenges. Adherence to strict procedural standards is essential to ensure clean practices and maintain market integrity.

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Competitive Landscape:

The global biopsy device market is highly competitive, with several key players strengthening their positions through strategic initiatives:

• B. Braun Melsungen AG acquired Intermedt Medizin & Technik GmbH in March 2022, diversifying the Avitum division’s product portfolio.
• Becton, Dickinson, and Company collaborated with GOCC in March 2024 to advance bloodstream infection testing and expand operations in Poland.

Key Companies in the Market:

• CR Bard
• Becton, Dickinson, and Company
• B. Braun Melsungen AG
• Hologic Inc.
• Cook Medical
• Devicor Medical Products Inc.
• Argon Medical Inc.

Market Segmentation:

• By Product Type: Guidance System, Needles, Guns, Reagents and Kits, Others
• By Application: Medical Diagnosis, Scientific Research
• By End Use: Hospital, Specialized Oncology Centres, Diagnostic Centers, Research Institutes
• By Region: North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, The Middle East and Africa

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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