(EMAILWIRE.COM, February 05, 2019 ) The global biopsy devices market is projected to reach USD 2.42 Billion by 2022 from USD 1.74 Billion in 2017, growing at a CAGR of 6.8% during the forecast period. Factors such as increasing cancer prevalence, the shift towards minimally invasive surgeries, growing government & global health organizations initiatives to spread awareness about cancer, and the improved reimbursement scenario in U.S. are boosting the growth of global market.

The report analyzes the global biopsy devices market by product, guidance technique, application, end user, and region. Based on product, the global market is segmented into needle-based biopsy instruments, procedure trays, localization wires, and other products (forceps, markers, probes, punches, curettes, and sutures). In 2016, the needle-based biopsy instruments segment accounted for the largest share of global market mainly due to the increasing preference for minimally invasive surgeries and higher preference for needle-based biopsies over open surgical biopsies.

The global biopsy devices market is characterized by a large number of players. The market is highly competitive in nature and is dominated by C. R. Bard, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Cook Group Incorporated (U.S.), Devicor Medical Products, Inc., (Leica Biosystems) (Germany), Argon Medical Devices (U.S.), B. Braun Melsungen AG (Germany), Cardinal Health, Inc. (U.S.), Olympus Corporation (Japan), Boston Scientific Corporation (U.S.), FUJIFILM Holdings Corporation (Japan), INRAD, Inc. (U.S.), and Medtronic plc (Ireland). Key players in the market are pursuing several organic and inorganic growth strategies such as product launches, expansions, acquisitions, and agreements to garner larger shares of the market. During 2013 to 2017, companies adopted product launches as their major growth strategy followed by acquisitions