Global breast biopsy devices market foresees 10.87% CAGR by 2028

Its growth is attributed to an increasing adoption of minimally invasive procedures.

The global market for breast biopsy devices is anticipated to grow by $778.7m at an estimated compound annual growth rate (CAGR) of 10.87% until 2028.

A report by Technavio revealed that the market is witnessing significant growth amidst the rising adoption of minimally invasive procedures for breast cancer screening.

Meanwhile, commonly used biopsy methods, such as hand-held needles and imaging guidance systems, may be susceptible to human errors.

This leads to high demand for technologies including robotic platforms, surgical navigation systems, and artificial intelligence for accuracy and efficiency.

Furthermore, the market is also shifting towards the use of needle and liquid biopsies for early cancer detection.

“The complexity of tumours calls for advancements in biopsy techniques, leading to breakthroughs in therapy selection, treatment monitoring, and recurrence monitoring,” Technavio said.

However, high costs pose a challenge to the global market. According to the report, procedure costs vary up to $6k for insured clients, whilst uninsured patients see up to $6.5k worth of expenses. 

Moreover, reluctance to adopt new technologies, particularly in developing economies, and minimal acceptance amongst uninsured patients serve as barriers that impede market expansion.