The global robotic biopsy devices market size was worth around $ 298.5 Million in 2018 and is predicted to grow to around $ 683.3 Million by 2025 with a compound annual growth rate (CAGR) of roughly 12.6% between 2018 and 2025.
The report analyzes the global robotic biopsy devices market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the robotic biopsy devices industry.
Robotic Biopsy Devices Market: Overview
The report covers forecast and analysis for the robotic biopsy devices market on a global and regional level. The study provides historic data from 2016 along with forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the robotic biopsy devices market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the robotic biopsy devices market on a global as well as regional level.
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According to the report, global demand for robotic biopsy devices market was valued at approximately USD 298.5 million in 2018, and is expected to generate revenue of around USD 683.3 million by end of 2025, growing at a CAGR of around 12.6% between 2019 and 2025.
In order to give the users of this report a comprehensive view on the robotic biopsy devices market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate and general attractiveness.
The report provides company market share analysis in order to give a broader overview of the key players in the robotic biopsy devices market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product type launch, agreements, partnerships, collaborations & joint ventures, research & development, regional expansion of major participants involved in the robotic biopsy devices market on global and regional basis.
The study provides a crucial view on the robotic biopsy devices by segmenting the market based on product type, application, and region. All the segments of robotic biopsy devices market have been analyzed based on present and future trends and the market is estimated from 2018 to 2025.
A biopsy is technique to remove sample of cells or piece of tissue from body for analysis. Biopsy is usually done to diagnose cancer or some other condition. Biopsy is a confirmatory test for cancer. Different types of lumps or mass observed during imaging tests can be confirmed for cancerous cell growth through biopsy of tissue sample. There are various types of biopsies carried out such as endoscopic biopsy, skin biopsy, needle biopsy, bone marrow biopsy, surgical biopsy etc. Biopsy is performed safely with the help of various imaging techniques such as ultrasound, computed tomography (CT), x-ray, or magnetic resonance imaging (MRI). These imaging techniques guide the needle for exact place for tissue removal. Robot assisted biopsies are being widely used to minimize complications and time of overall procedure.
The demand for robotic biopsy devices market is driven by increasing prevalence of cancer and growing preference for minimally invasive surgical procedures. Additionally, increasing awareness, favorable reimbursement policies, increasing healthcare spending are important factors that boost the market growth. However, lack of skilled professionals and high cost of procedure may limit the market growth over the forecast period. Emerging markets are expected to serve as growth opportunities for global robotic biopsy devices market players.
Based on product type, global robotic biopsy devices market is segmented into instruments and accessories and system. Instruments and accessories product type segment dominated the market with revenue share of almost 60%. This growth is attributed to availability of wide variety of instruments for biopsy and related accessories. Also, increasing cancer prevalence has boosted the market growth substantially.
Based on application, robotic biopsy devices market is categorized into brain biopsy, prostate biopsy, lung biopsy and other applications. In 2018, lung biopsy was the largest application segment. Lung cancer is the leading cause of mortality among all cancer types. Increasing lung cancer prevalence is major attributing factor for the largest market share. Also, changing environmental conditions, increasing levels of pollution, smoking and increasing awareness are other factors that fuel the growth of lung cancer application segment.
Robotic Biopsy Devices Market: Competitive Analysis
Major players included in the report are Medtech SA, Medrobotics, Biobot Surgical Pte Ltd, Mazor Robotics, iSYS Medizintechnik GmbH, Renishaw plc, and Medtronic among others.
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Robotic Biopsy Devices Market: Regional Analysis:
North America dominated the global robotic biopsy devices market in 2018. Presence of advanced health facilities, increasing cancer prevalence, favorable reimbursement policies, and growing preference for minimally invasive procedures are factors driving the market in this region. Europe was second largest regional robotic biopsy devices market. Faster adoption of technologically advanced instruments, increasing awareness, increasing aging population and cancer prevalence are major factors that boost market growth in this region.
Latin America is estimated to exhibit moderate growth over the forecast period. Asia Pacific region will register highest CAGR for robotic biopsy devices market during the forecast period. Increasing awareness about minimally invasive surgical procedures, increasing cancer prevalence and awareness, growing elderly population and increasing health spending are factors promoting robotic biopsy devices market growth in Asia Pacific. Middle East and Africa region is estimated to show slower growth in coming years.
The report segment of global robotic biopsy devices market as follows:
Global Robotic Biopsy Devices Market: By Product Type
- Instruments and Accessories
Global Robotic Biopsy Devices Market: By Application
- Lung Biopsy
- Prostate Biopsy
- Brain Biopsy
- Other Applications
Global Robotic Biopsy Devices Market: By Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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