Biopsy Devices Market Leading Players And Business Growth
Seeking Alpha Analyst Since 2014
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Factors such as increasing cancer prevalence, growing government & global health organizations initiatives to spread awareness about cancer, the shift towards minimally invasive surgeries and the improved reimbursement scenario in U.S. are boosting the growth of global market.
According to research report the biopsy devices market is expected to reach $2.42 billion by 2022, at a CAGR of 6.8% from 2017 to 2022.
Players in the global biopsy devices market, such as Becton, Dickinson and Company (U.S.), Devicor Medical Products, Inc. (U.S.), Argon Medical Devices, Inc. (U.S.), Cardinal Health, Inc. (U.S.), and Boston Scientific Corporation (U.S.) are focusing on increasing their presence in the high-growth markets through agreements, expansions, and acquisitions. Olympus Corporation (Japan), Cook Group Incorporated (U.S.), and Boston Scientific Corporation (U.S.) are some of the players focusing on organic growth strategy of new product launches to enhance their market presence.
Based on application, the global market is segmented into breast biopsy, lung biopsy, colorectal biopsy, prostate biopsy, and others. The breast biopsy segment accounted for the largest share of the global market in 2016. The rising prevalence of breast cancer and growing awareness about the disease are driving market growth in this segment.
C. R. Bard dominated the market due to its broad biopsy devices product portfolio. It operates in around 100 countries outside the U.S. The company manufactures medical devices in the field of vascular therapy, urology, oncology, and surgical specialties. C. R. Bard has a wide product portfolio for biopsy, including vacuum-assisted devices, core needle biopsy products, localization wires, breast tissue markers, and probes. In order to garner more share in the biopsy devices market, the company focuses on expanding its geographical reach by investing in emerging markets such as Asia, Latin America, and Eastern Europe. The company also focuses on achieving a competitive advantage through product quality & innovation, intellectual property protection, and core competency management.
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