In a recently published report, Smart Biopsy Devices Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Smart Biopsy Devices Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Smart Biopsy Devices Market is valued at approximately USD 2.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.7% over the forecast period 2020-2027. Biopsy is a type of medical test that is typically used for screening and detecting cancer, in patients. Several non-invasive imaging technologies and techniques are used in biopsies, nowadays, so that one physician can easily examine the concerned area of the patient. Non-invasive tools of biopsy have been developed that allow the real-time cancer tissue characterization, so-called smart biopsies, which are already being used in hospitals to accelerate cancer diagnosis. These devices often help diagnostic department or interventional radiologists in segregating the calluses or healthy cells from tumorous cells. For diagnosis of cancer, a wide range of biopsies are used, such as skin, incision and excision, shave, fine needle aspiration, center needle, and vacuum-assisted biopsies. Therefore, these factors are anticipated to accelerate market growth around the world. Moreover, the increasing number of cases of cancer around the world, along with the increasing number of minimally invasive surgical procedures are a few other factors responsible for the market growth over the forecast period.
According to the International Agency for Research on Cancer (IARC), in 2018 the new cancer cases reported almost 17 million with around 9.5 million cancer deaths around the world and is expected to grow to almost 27.5 million new cancer cases and 16.3 million cancer deaths by the year 2040. This, in turn, is expected to accelerate the demand for smart biopsy devices around the world. Moreover, the recent outbreak of COVID-19 pandemic around the world has led to a rise in demand for smart biopsy devices and other indispensable medical supplies to avoid the transmission of the novel coronavirus infectious diseases , as well as offer ideal care to the patient, which further promote the market growth in the forthcoming years. However, the clinical issues with core needle biopsy and complaints involving cancer screening procedures are the major factors impeding the market growth over the forecast period of 2020-2027.
The regional analysis of the global Smart Biopsy Devices market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing awareness about cancer screening programs, the presence of well-established healthcare facilities, and the substantial availability of early diagnostic procedures in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the increasing cases of skin and breast cancer, along with the improving healthcare infrastructure would create lucrative growth prospects for the Smart Biopsy Devices market across the Asia-Pacific region.
Major market player included in this report are:
Intuitive Surgical, Inc.
Canon Medical Systems Corporation
Boston Scientific Corporation
Dune Medical Devices Ltd.
Becton, Dickinson and Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Smart Biopsy Devices Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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