Global Breast Biopsy Device Market Will Grow Steadily To Reach $490 Million By 2017
TORONTO, Feb. 21, 2013 /PRNewswire/ — According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the growing demographic at risk for breast cancer and increasing compliance with screening programs will spur demand for breast biopsies. Additionally, patients and clinicians are showing a growing preference for minimally invasive biopsies over open surgical alternatives. As a result, sales of breast biopsy devices used in these procedures will expand at a steady pace through 2017.
Within minimally invasive breast biopsies, clinicians are moving toward using more accurate methods, such as core needle biopsy (CNB) and vacuum-assisted biopsy (VAB), and away from fine-needle aspiration (FNA). VAB in particular is driving growth in this market because this is the most diagnostically accurate method of breast biopsy and VAB devices have higher selling prices. VAB devices will therefore continue to represent the largest and fastest-growing segment of the breast biopsy device market over the next five years, generating significant interest from competitors.
“The competitive landscape of the VAB device market has changed considerably since 2010,” said MRG Analyst Michelle Chan. “That year, Devicor Medical Products purchased Ethicon Endo-Surgery’s breast care business and therefore acquired the Mammotome brand, which is arguably the most well-recognized brand in VAB. C. R. Bard also purchased SenoRx, giving it access to the EnCor VAB device.”
The shift toward VAB has not occurred at the same rate worldwide. In the US, more than 50 percent of minimally invasive breast biopsies are performed using this technique, which has supported the large size of the US market. In China, however, less than one-quarter of procedures use VAB. Nonetheless, the shift toward VAB will be the fastest in China through 2017 due to its expanding economy and the ongoing shift away from open surgical biopsies. Japan is the only country where there is still a strong preference for less expensive FNA, causing it to be the smallest regional market.
Millennium Research Group’s Global Markets for Breast Biopsy Devices 2013 report includes unit, average selling price and revenue information, along with market drivers and limiters and a competitive landscape for VAB devices, CNB devices and fine needles in the United States, Europe (France, Germany, Italy and the UK), Japan and China.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack(TM) projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
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SOURCE Millennium Research Group