Popularity of Biopsy Devices in Minimally Invasive Procedures to Create Lucrative Opportunities for European Manufacturers | Introduction of Reimbursement Policies to Act as Catalyst

According to Future Market Insights (FMI), the U.K. Biopsy Device Market is poised to expand at a CAGR of 3.9% during the assessment period, reaching a valuation of US$ 159 Million by 2033. Germany’s biopsy device market is likely to accelerate at a CAGR of 4.1% during the anticipated timeframe with overall sales anticipated to hit a total of US$ 236 Million by the end of 2033.

The demand for minimally invasive surgeries is growing rapidly in Europe, driven by increasing prevalence of cancer. People are likely to require medical procedures that involve biopsy devices, as well as other medical equipment.

Furthermore, advancements in technology are allowing surgeons to perform less-invasive surgical procedures with greater accuracy, providing patients with improved outcomes and reduced recovery times. The ability to perform precise biopsies quickly and accurately can be instrumental in determining the type and stage of a tumor, thereby helping to guide the course of treatment.

Minimally invasive surgeries can reduce pain, recovery time, and risk of infection. This growing popularity of minimally invasive procedures utilizing biopsy devices will boost sales across European countries like the U.K., Italy, and Germany during the forecast period.

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Presence of favorable reimbursement policies is also playing an important role in changing the course of biopsy device market across Europe. Many insurance providers are now offering coverage for minimally invasive surgical procedures, making them accessible and affordable to patients. As a result, more and more cancer patients are opting for various treatments.

Finally, as breast cancer is the most common type of cancer in women, doctors are opting for less-invasive methods of diagnosis and treatment in order to minimize any complications and provide their patients with improved outcomes. Minimally invasive surgeries such as vacuum-assisted biopsies can help accurately diagnose tumors and allow for early detection, which can greatly improve a patient’s chances of successful treatment.

Key Takeaways from the Biopsy Device Market

• The global biopsy market size is set to grow at 9% CAGR during the assessment period (2023-2033).
• The U.K. biopsy device market is expected to grow at 3.9% CAGR through 2033.
• The Germany biopsy device market size is anticipated to accelerate at 1% CAGR between 2023 and 2033, creating an absolute $ opportunity of US$ 77.7 Mn.
• Rising demand for minimally invasive surgeries will boost the biopsy device market in Europe.

“Growing demand for less invasive surgeries will provide an impetus to growth of biopsy device market in Europe. Hence, key companies are relying on product launches to expand their geographical locations.”– Says an FMI Analyst.

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Competition Landscape in the Biopsy Device Market

Key manufacturers in Europe biopsy device market are relying on developing innovative products to increase their customer base. Additionally, these companies are also using numerous tactics such as product launches and partnerships

Illumina, Dune Medical Devices, and NeoDynamics AB are the key companies in Europe biopsy device market.

Recent Developments

• In March 2022, Illumina announced the availability of its TruSight oncology test, which evaluates many tumor genes and biomarkers. The CE-marked TruSight test from San Diego-based Illumina is available all across the Europe,
• In July 2019, the first-in-man trial for Dune Medical Devices’ Smart Biopsy, a percutaneous soft tissue biopsy device that makes use of its radio-frequency (RF) spectroscopic technology’s real-time tissue characterization capacity, was completed.
• In November 2020, The Buckinghamshire Healthcare NHS Trust in London made the first UK purchase of NeoDynamics AB’s NeoNavia pulse biopsy gadget, according to MedTech firm, which is dedicated to enhancing breast cancer diagnosis and treatment.

Key Segments

By Product Type:

• Guidance System
• Needles
• Guns
• Reagents and Kits
• Others

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By Application:

• Medical Diagnosis
• Scientific Research

By End Use:

• Hospital
• Specialized Oncology Centres
• Diagnostic Centers
• Research Institutes

About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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