Breast Biopsy Markers Expected To Garner Innovative Opportunities for Medical Device Manufacturers
United States, Rockville MD, Aug. 17, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global breast biopsy marker market is estimated at US$ 798 million in 2022 and is expected to expand at an impressive CAGR of 5.8% through the forecast years of 2022-2032.
Breast biopsy markers are integrated into the biopsy procedure as they offer the advantage of identifying and marking of the biopsy area with a marker (also called a clip), which helps surgeons in the diagnostic process. Key players are concentrating on delivering quality and standardised products with respect to patients' safety while considering government norms and the safety requirements of providers. Breast biopsy markers will become more popular in the market as a result of assured product quality and reduced dangers.
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Use of breast biopsy markers have increased significantly in the early detection of breast cancer due to initiatives taken by governments and various other organizations for breast cancer screening. Breast biopsy markers are associated with no pain and disfigurement to the body as compared to open surgery, which, is why they are highly acceptable by end users and patients.
Why is There Healthy Demand Growth for Breast Biopsy Markers?
“Rising Incidence of Breast Cancer Driving Sales of Breast Biopsy Markers”
Breast cancer is known to be amongst the most prevalent anomaly worldwide. According to the American Cancer Society, breast cancer is the second-leading cause of cancer-related deaths among the population. It was observed that, in the year 2018, over 265,000 new cases of breast cancer were detected among women and one in every eight women was likely to be diagnosed with breast carcinoma.
Breast biopsy markers are used in the biopsy process that offers the advantage of identifying and marking the biopsy area with a physical tag that helps the surgeon in the diagnosis and operating process. Therefore, a rise in the number of breast cancer patients across the world is likely to uplift the breast biopsy marker market in parallel.
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Key Segments Covered in the Breast Biopsy Marker Industry Survey
By Coating Type :
With Bio-Absorbable Coating
By Material :
Metals & Alloys
Carbon-coated Zirconium Oxide
By Provider :
Ambulatory Surgery Centers
By Region :
South Asia & ASEAN
Despite challenging economic conditions, the business environment in the breast biopsy marker market still reflects highly positive growth. Market leaders such as Hologic, Carbon Medical Technology, BD, and Argon Medical Devices are competing for market domination in the breast biopsy marker space.
The market is expected to grow across the world as a result of technical developments occurring in breast biopsy markers. Due to the rising demand for breast biopsy markers, companies have eventfully boosted their R&D spending in an effort to provide new products.
Key players in the market are forming strategic alliances through mergers, capacity expansion, and other tactics to embrace technology and increase production capacity, specifically to meet the demands of the expanding healthcare sector.
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Key players in the Breast Biopsy Marker Market
Carbon Medical Technology
Argon Medical Devices
Scion Medical Technologies
Key Takeaways from Breast Biopsy Marker Market Study
The global breast biopsy marker market is projected to expand at a CAGR of 5.8% and be valued at US$ 1.4 billion by 2032.
The market exhibited 5.4% CAGR for the period of 2017-2021.
Under material type, titanium dominates the market and is valued at US$ 186.5 million in 2022.
South Asia and ASEAN dominated the market with 24.4% market share in 2021.
Based on region, demand for breast biopsy markers is expected to increase at CAGRs of 5.2% and 6.4%, respectively, in South Asia and ASEAN and Europe.
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