The Bone Biopsy Market value is set to grow by USD 45.03 million, progressing at a CAGR of 5.81% from 2021 to 2026, as per the latest report by Technavio.
The market is segmented by type (needle biopsy and open biopsy) and geography (North America, Europe, Asia, and ROW).
Moreover, the bone biopsy market report also offers information on several market vendors, including Becton Dickinson and Co., BIOPSYBELL Srl, Cardinal Health Inc., Cook Medical LLC, Meditech Devices Pvt Ltd, Medtronic Plc, Merit Medical Systems Inc., Ranfac Corp., Shandong Weigao Group Medical Polymer Co. Ltd., and Stryker Corp. among others.
Market Segmentation
By Geography
40% of the market’s growth will originate from North America during the forecast period. The US is the key market for bone biopsy market in North America.
Market growth in this region will be faster than the growth in the European and the ROW market. The high adoption of technology in the healthcare sector will facilitate the bone biopsy market growth in North America over the forecast period.
By Type
The bone biopsy market share growth by the needle biopsy segment will be significant during the forecast period. Needle biopsies are majorly performed for the better assessment of bone cancer within an outpatient setting.
The need for highly skilled operators to handle imaging modalities like CT scans and the lower technical complexities involved in this method are driving the demand for bone biopsy needles for the extraction of normal bone tissues for biopsy.
A needle biopsy is considered the gold standard procedure for bone biopsies.
Key Driver:
The growing number of diagnostic centers is one of the driving factors for the bone biopsy market growth. In many countries, most of the healthcare services being delivered at home are primarily in urban areas, with a very low focus on rural areas.
Many developing countries have a high percentage of people living in rural areas wherein diagnostic centers are very few in number and accessibility is low.
Rural areas have a very high mortality rate from cancer that can be attributed to the lack of awareness of the disease, leading to ignorance about its diagnosis and treatment.
During the forecast period, the increased availability of over-the-counter tests, the easy availability of biopsy solutions at a lower price, and the high number of research grants and funding projects will lead to the establishment of several diagnostic centers worldwide, especially in rural areas of developing countries, which will drive the market growth in the coming years.
Key Challenge:
The limited availability of skilled technicians is a big challenge for the growth of bone biopsy market vendors.
Generally, a bone biopsy procedure needs to be carried out meticulously with very high accuracy to prevent any damage to the target area in patients, which can be achieved only through the skillful execution of the procedure.
The lack of technical skills can lead to improper diagnosis and misleading results.
In addition, an inexperienced handler of biopsy needles can accidentally break up the malignant cells present in a tumor, which can spread to other organs and areas of the body.
Therefore, limited technical skills in handling biopsy needles and devices during a bone biopsy procedure can create a negative image among patients, leading to reduced adoption of the test procedure.
Related Reports:
