Cancer Scares in the Retired Population Boost the Biopsy Market

Thursday 16 August 2012, Amsterdam

Government initiatives to raise awareness of cancer screenings in the increasing elderly population have resulted in the mass uptake of biopsy procedures, according to the new Biopsy Devices - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2018 report.

The report suggests that the medical devices market will encounter massive demand for screening equipment as doctors conduct ever-increasing numbers of biopsies, while concern for patient comfort will inspire less invasive screening technologies.

The increasingly elderly population has led to a higher prevalence of cancer, as the incidence rate of cancer rises in accordance with population age, spurring governments around the world to increase funding in raising awareness through the media. The United Nations’ State of the World Population 2011 report states that the global elderly population is growing at a rate of 2.6% per year, whereas the overall global population is increasing by only 1.1%. Therefore, cancer incidence and prevalence is anticipated to rise, which will in turn drive the future growth of the biopsy devices market.

Growing awareness of the importance of early cancer detection has led to high screening rates, which also acts to drive the biopsy devices market, as physicians rely on biopsies when other screening procedures do not prove conclusive.

The National Health Interview Survey in 2008 showed that 67% of women in the US aged 40 years and above had experienced a mammogram, compared to 29% in 1987. Similar increases in screening procedures for cervical cancer, colorectal cancer and prostate cancer have also been noted – a trend emerging not just in developed countries, but in developing countries too.

As increasing numbers of people are attending screenings, the quality of patient treatment is becoming an essential market factor, with desire mounting for minimally invasive ultrasoundguided vacuum-assisted biopsy devices, implying their future market domination over low-cost but less uncomfortable needle biopsies. Vacuum-assisted breast biopsy devices represent the fastest growing segment in the US market, and increased Medicare reimbursement given for such procedures is expected to help fuel demand.

The global biopsy devices market was valued at $970m in 2011, and is forecast to grow at a Compound Annual Growth Rate (CAGR) of 5% to reach $1.4 bn by 2018. The US represents the largest national market, accounting for 50% of global revenue in 2011, and this market dominance is expected to continue to grow.

This report provides key data, information and analysis on the market landscape, competitive landscape and market trends information on the biopsy devices market. It provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings.

This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by a team of industry experts.