The Global Smart Biopsy Market size is expected to reach $3.2 billion by 2025, rising at a market growth of 5.3% CAGR during the forecast period.
A biopsy is referred to as the surgical removal of tissue from a human organ to determine the presence of disease, primarily cancer. Cardiologists, surgeons, and radiologists conduct this medical procedure. The key factor responsible behind smart biopsy market growth is the fact that this is a minimally invasive surgical procedure that can mitigate the complications and after-effects of biopsy devices.
The medical sector has witnessed a multitude of recent trends such as an increase in private funding for cancer research, government spending on healthcare worldwide, escalating technological up-gradation, and promising reimbursement policies. These trends are projected to push the smart biopsy industry with significant growth rates. According to the World Cancer Report, there will be 15 million additional cases of cancer by the end of 2020.
The worldwide pervasiveness of cancer diseases like lung cancer, breast cancer, prostate cancer, etc., is expected to drive the market scenario. People are more health-conscious these days and switch to minimally invasive techniques over traditional techniques in order to ensure complete security.
Based on Application, the market is segmented into Breast cancer, Skin cancer, Liver cancer, Prostate cancer and Others. Due to a growing number of patients suffering from malignant skin tumors, the skin cancer segment is expected to grow at the highest CAGR in the coming years. Skin tumor is an abnormal cell growth in the epidermis (outermost layer of skin) caused by unrepaired DNA damage that result in abnormalities. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Recent strategies deployed in Smart Biopsy Devices Market
Partnerships, Collaborations, and Agreements:
- Jun-2019: Argon Medical signed a licensing agreement with Hatch Medical, a US-based medical device incubator and technology brokerage firm. Under this agreement, Hatch has provided the license of manufacturing and distributing rights to Argon for its family of liver access products, including the Scorpion Transjugular Intrahepatic Portasystemic Shunt (TIPS) Access Systems. This system complements to its TLAB transjugular liver biopsy system.
- Jan-2019: Olympus came into partnership with USC for advancing research into cancer prevention, diagnosis, and treatment with the help of precision medicine. This partnership demonstrates the clinical utility of new technologies, which combines the workflow of primary diagnosis and surgical biopsy with microscopic cellular and molecular characterization.
- Jun-2018: Olympus collaborated with Hitachi Healthcare Americas, a leader in ultrasound and CT/MRI medical imaging. In this collaboration, they will distribute the ARIETTA 850, a new OLED monitor and efocusing technology that enhances the ultrasound images and allows for more detailed observation.
- Mar-2018: Hologic teamed up with Philips for offering care professionals integrated solutions including advanced informatics and services for screening, diagnostic imaging modalities, and diagnosis and treatment of women. This collaboration integrates Philips' portfolio of MRI, CT, ultrasound, X-Ray Systems, etc. with Hologic's innovative mammography technologies.
- Jan-2018: Olympus and Ruhof signed an agreement for the distribution of Ruhof's Guardian Endoscope Single-use and Disposable Valve Set. These sets contain suction, one/air water, biopsy valve and helps in prevention of cross contamination.
Acquisition and Mergers:
- Nov-2019: Canon Medical, a subsidiary of Canon, Inc., announced an agreement to acquire 70% stake in Quality Electrodynamics (QED), a US-based diagnostic imaging company. QED is engaged in the development of MRI technology for radiofrequency coils. The acquisition helps in capturing the diagnostic images of the human anatomy.
- Aug-2019: Boston Scientific acquired BTG PLC that develops and commercializes the products used in minimally invasive procedures targeting vascular diseases and cancer.
- May-2019: Argon Medical took over Mana-Tech, Ltd., a distributor of radiology consumables and biopsy products in U.K. This acquisition helps Argon in expanding its reach to U.K. by offering its wide range of products like interventional radiology, guidewires, vascular surgery products, etc. to the customers in U.K.
- Oct-2018: Boston Scientific took over Augmenix Inc., developer of the SpaceOAR Hydrogel System for help in reducing the common and deliberating side effects, which men may experience after receiving radiotherapy to treat prostate cancer.
- Sep-2018: Hologic signed a definitive agreement to acquire Focal Therapeutics, a medical device maker. The acquisition helps Hologic in expanding its ability to help women diagnosed with breast cancer from screening with the help of surgery.
- Jul-2018: Hologic took over Faxitron Bioptics, a leader in digital specimen radiography. The acquisition broadens the portfolio of Hologic's Breast Health. The portfolio of Faxitron includes digital specimen radiography, breast lesion localization, and sentinel lymph node biopsy.
- Apr-2018: Boston Scientific announced the acquisition of nVision Medical Corporation, a privately-held company focused on women's health. NVision devices collect cells that correlate with post-surgery definitive diagnosis of ovarian cancer while testing.
- Apr-2018: Olympus signed an agreement to acquire lithotripsy system from Cybersonics in order to extend its urology portfolio.
- Apr-2019: Hologic launched Trident HD specimen radiography system in the U.S. This system delivers improved workflow and enhanced image quality with instant sample verification during breast-conserving surgeries and stereotactic breast biopsies. This system has the feature of biggest detector, which provides clinicians a complete image of large breast surgical specimens and a variety of biopsy and surgical samples.
- Mar-2019: Canon Medical, a subsidiary of Canon, Inc., launched 33 MHz ultra-high frequency linear transducer on Aplio i800 for providing spatial resolution and extremely fine detail in the near field. It offers detail for B-mode and Color Flow imaging and useful in surgical planning.
- Feb-2019: Canon Medical, a subsidiary of Canon, Inc., introduced AiCE (Advanced intelligent Clear IQ Engine), a deep convolutional neural network (DCNN) image reconstruction technology for computed tomography (CT). This technology uses deep learning technology in order to differentiate the signal from noise so that it can remove the noise while it preserves the true signal.
- Nov-2018: Canon Medical, a subsidiary of Canon, Inc., released the Alphenix platform, its next-generation of interventional systems. This platform of system includes all-new features, which enables the clinicians to provide the images with clarity and precision without compromising the workflow and prioritizing the low dose.
- Oct-2018: Leica Biosystems, a subsidiary of Danaher, launched MammoPort, the first integrated specimen containment and transport system for breast tissue biopsies. This system eliminates the unnecessary tissue manipulation and calcification separation completely and maintains the critically important tissue orientation, size and integrity.
- Nov-2019: Boston Scientific opened a new technology center at its Ballybrit site in Galway. This expansion is focused towards the development of the products in the areas of endoscopy, interventional cardiology, and peripheral interventions.
- May-2019: Canon Medical, a subsidiary of Canon, Inc., installed Aquilion One Genesis, one of the first computed tomography (CT) scanners with artificial intelligence (AI) functionality in Europe. Through this installation, the company expanded its reach in Europe.
Scope of the Study
- Breast cancer
- Skin cancer
- Liver cancer
- Prostate cancer and
- Danaher Corporation
- Argon Medical Devices, Inc.
- Cardinal Health, Inc.
- Canon, Inc. (Canon Medical Systems Corporation)
- Boston Scientific Corporation
- Olympus Corporation
- Hologic, Inc.
- B. Braun Melsungen AG
- Cook Medical, Inc. (Cook Group)
- Medtronic Plc.
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