KEY FINDINGS The Asia-Pacific Biosy Device market generated a revenue of $264 million in the year 2017. The market is poised to grow at a CAGR of 7.41% over the forecast period of 2017-2025 and is predicted to generate a revenue of $508 million by the end of the forecast period.
MARKET INSIGHTS The biopsy device market is mainly segmented into display technologies (CT guided, MRI guided, Ultrasound guided), end-users (diagnostic center hospitals, etc), devices (gynecology biopsy device, soft tissue biopsy needles, robotic guidance system, etc), and therapeutic areas (lung biopsy, GI biopsy, breast biopsy, etc). The increase in elderly population, rising number of diagnostic centers and the various initiatives and pilot programs undertaken by the government are mainly responsible for promoting the market growth. Still, factors such as high cost and failure rate in clinical trials, limited technical skills, and the expenses involved for biopsy procedures are proving to be a challenge for the market.
COMPETITIVE INSIGHTS Some of the top players in the market include Argon Medical Devices Inc, Cintec Medical Ltd, Ad-Tech Medical Instrument Corp, Intact Medical Corp, Cook Group Inc, Planmeca OY, others.