europe biopsy devices Market

The Europe biopsy devices market is expected to reach US$ 1,090.67 million by 2027 from US$ 700.01 million in 2019; it is estimated to grow at a CAGR of 5.8% from 2020 to 2027.

The growth of the biopsy devices marketis primarily attributed to the escalating prevalence of cancer, and government support and initiativesin the region. Factors such limitations associated to biopsy devices damage the growth of the market. Additionally, increasing awareness regarding the need of early disease detectionand consistent improvements in product designsare likely to fuel the growth of the biopsy devices marketduring the forecast period.

Biopsy is a medical examination generally implemented by surgeons, interventional radiologists, or interventional cardiologists to extract sample cells or tissues that are use for the identification anddetection of a disease. The tissue is generally observed under a microscope by pathologists, or it can also be examined through chemical tests. Biopsies are most commonly performed to identify cancerous and inflammatory conditions.

Developments in technology have helped medical professionals upgrade their existing diagnostic procedures and protocols. Innovations in instrumentation, visualization, and invasion techniques have enabled clinicians to conduct improved and accurate diagnosis for disease conditions.

The future trend in the market is expected to showcase promising studies for advanced biopsy devices, and the launch of innovative solutions is likely to augment the current diagnostics. For instance, at the start of 2020, the European Liquid Biopsy Society (ELBS) was established by the initiative of the University hospital Hamburg-Eppendorf (UKE). ELBS is open to attract new partners and will be a hub for liquid biopsy research in Europe with the key goal to translate liquid biopsy assays into clinical practice. Thus, the consistent improvements in the designs of biopsy instruments is likely to be a prevalent trend in the market in the years to come.

The European Society for Medical Oncology (ESMO), a leading professional organization for medical oncology, continues to help oncology professionals deliver optimal care to their cancer patients amid the COVID-19 pandemic. The impact of this pandemic on cancer patients is high in terms of anxiety, fear, and psychological distress. However, shutdown of businesses and other measures imposed in different countries are delaying the supply of diagnostics kits and assays. Many companies from the biopsy devices market have redirected their focus on the development of the COVID-19 test. For instance, Qiagen is looking to steeply ramp up its global production of the RNA test reagents used to perform specific COVID-19 diagnostics.

In 2019, the needle-based biopsy segment accounted for the largest share of the Europe biopsy devices market. The growth of the segmental market is attributed to the rising adoption of this type of biopsy due to its high accuracy and minimal injury risks. Further, the European market for this segment is also likely to witness the fastest CAGR during the forecast years.

A few of the significant secondary sources associated with the Europe biopsy devices marketreport are the World Health Organization (WHO), Cancer Research UK, American Cancer Society, and Tumour Characterization to Guide Experimental Targeted Therapy (TARGET) study, and Globocan report.