Prostate Biopsy Devices Market - Industry Analysis, Market Size, Share, Trends, Growth And Forecast 2024 - 2030

Prostate Biopsy Devices Market Overview

Prostate Biopsy Devices Market Size is valued at $5.9 Billion by 2030, and is anticipated to grow at a CAGR of 5.6% during the forecast period 2024 -2030. Prostate biopsy is used for the treatment of prostate cancer which is ideal to collect sample tissue from prostate to identify cancer. The prostate specific antigen test (PSA Test) is used in screening prostate cancer and helps to determine the necessity for prostate biopsy. With the help of biopsy procedure, small sample of prostate are removed to verify the presence of cancer. A prostate biopsy uses transrectal ultrasound which is used to investigate prostate cancer. During surgery, prostate gland tissue is taken out with a biopsy needle through prostate biopsy in order to test the presence of cancer. Growing incidence of prostate cancer and rising technological development is the major factor driving the growth of this market. Furthermore, increasing research and development activities is set to further enhance the overall market demand for Prostate Biopsy Market for the period 2024-2030.

The prostate biopsy market is undergoing notable transformations driven by several key trends. One significant trend is the shift towards more precise and less invasive biopsy techniques. The adoption of image-guided biopsy methods, such as MRI-ultrasound fusion-guided biopsies, is increasing as they offer higher accuracy in detecting prostate cancer compared to traditional transrectal ultrasound (TRUS)-guided biopsies. Additionally, there is a growing interest in transperineal biopsy approaches, which reduce the risk of infection compared to transrectal methods. The integration of artificial intelligence (AI) and machine learning in imaging and biopsy procedures is another trend, enhancing the accuracy and efficiency of cancer detection. Moreover, advancements in biomarker research are leading to the development of targeted biopsy techniques, which can improve diagnostic accuracy and reduce the number of unnecessary biopsies. Liquid biopsy is also emerging as a promising non-invasive alternative, providing genetic and molecular information from blood samples. These trends reflect a broader move towards more personalized and precise diagnostic tools in the prostate biopsy market, aiming to improve patient outcomes and reduce healthcare costs.

Market Snapshot:

COVID-19/Russia-Ukraine War Impact

The COVID-19 pandemic significantly impacted the Prostate Biopsy Devices Market, initially disrupting supply chains and delaying elective medical procedures, including biopsies. Hospitals prioritized COVID-19 treatments, resulting in reduced demand for biopsy devices as non-urgent diagnostics were postponed. However, the pandemic also underscored the importance of robust healthcare infrastructure and advanced diagnostic capabilities. As healthcare systems adapted, there was a renewed focus on early disease detection and management, driving the need for reliable biopsy devices. Manufacturers responded by innovating and ensuring supply chain resilience. Telehealth advancements and remote diagnostics further influenced market dynamics, emphasizing the need for precision and efficiency in biopsy procedures. Consequently, while the market faced short-term setbacks, the long-term outlook remains positive, driven by the pandemic-induced acceleration in healthcare modernization and the heightened awareness of early diagnostic tools' critical role in patient outcomes.

The Russo-Ukraine War has disrupted the Prostate Biopsy Devices Market, primarily through supply chain interruptions and geopolitical instability. The conflict has led to significant disruptions in the production and distribution of medical devices, with key manufacturing hubs and logistics routes impacted. Additionally, the economic sanctions and trade restrictions imposed on Russia have further complicated market dynamics, limiting access to essential components and raw materials. Healthcare systems in the affected regions are strained, diverting resources away from elective and non-urgent procedures, including biopsies. This has resulted in a decreased demand for biopsy devices in the short term. However, the heightened awareness of healthcare infrastructure resilience and the need for continuous medical advancements are prompting global stakeholders to invest in more stable and diversified supply chains. Consequently, while the immediate effects are negative, the long-term outlook includes a potential restructuring of the market towards greater robustness and adaptability.

Prostate Biopsy Devices Market Report Coverage

The report “Prostate Biopsy Devices Market Forecast (2024 – 2030)”, by Industry ARC, covers an in-depth analysis of the following segments of the Prostate Biopsy Devices Market:

By Product: Needle-Based Biopsy Instruments (Core Biopsy Devices, Aspiration Biopsy Devices, Vacuum-Assisted Biopsy Devices), Liquid Biopsy

By Guidance Technique: Ultrasound-Guided, Stereotactic-Guided, MRI-Guided, CT-Guided, Others

By End-User: Hospitals, Academic and Research Institutes, Diagnostic and Imaging Centers

By Geography: North America (USA, Canada, and Mexico), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Malaysia, and Rest of APAC), and Rest of the World (Middle East, and Africa)

Key Takeaways

• Geographically, in 2023, North America dominated the Prostate Biopsy Market owing to availability of advanced biopsy devices and awareness among the people about disease.
• Growing incidence of prostate cancer and rising technological development are likely to aid in the market growth of the Prostate Biopsy. 
•  High cost associated with prostate biopsy is set to create hurdles for the Prostate Biopsy Market.  
•  Modernization of traditional biopsy techniques is another key trend. New techniques like liquid biopsy are emerging, replacing the conventional methods, which is driving the growth of Prostate Biopsy Devices Market during the forecast period 2024 – 2030.

For more details on this report - Request for Sample

Prostate Biopsy Devices Market Segment Analysis – By Product

The global Prostate Biopsy Market based on Type can be further segmented into Prostate Needle Biopsy, and Prostate Liquid Biopsy. The Prostate Needle Biopsy segment is the major segment generating revenue in 2023, owing to accurate sampling of prostatic tissue that are considered at high risk for prostatic cancer. The Prostate Liquid Biopsy segment is estimated to register the fastest CAGR of 6.2% for the period 2024-2030. This is owing to easy procedure, low cost and fast and helps to overcome cancer by providing a more systemic view of cancer that increases the use of PSA test through prostate biopsy and are increasing the growth of this segment. 

Liquid biopsy is an emerging and rapidly growing segment in the prostate biopsy market. This non-invasive technique involves the analysis of circulating tumor cells (CTCs) and circulating tumor DNA (ctDNA) from blood samples. Liquid biopsy provides valuable genetic and molecular information about prostate cancer, enabling early detection, monitoring of disease progression, and assessment of treatment response. It offers a less invasive alternative to traditional tissue biopsies, reducing patient discomfort and the risk of complications. The increasing research and development in liquid biopsy technologies and their potential to revolutionize cancer diagnosis and management are driving the growth of this segment.

Prostate Biopsy Devices Market Segment Analysis – By Guidance Technique

Image-guided biopsy is a critical segment in the prostate biopsy market, utilizing advanced imaging techniques to enhance the precision and accuracy of tissue sampling. This segment includes MRI-ultrasound fusion-guided biopsies and in-bore MRI-guided biopsies. MRI-ultrasound fusion-guided biopsy combines real-time ultrasound with pre-acquired MRI images to precisely target suspicious areas, offering higher detection rates of clinically significant prostate cancers. In-bore MRI-guided biopsy, performed within an MRI scanner, provides real-time visualization and precise targeting of lesions, minimizing the risk of missing significant tumors. The adoption of these image-guided techniques is increasing due to their superior diagnostic accuracy compared to traditional methods.

Prostate Biopsy Devices Market Segment Analysis – By End User

The global Prostate Biopsy Market based on End-Use Industry can be further segmented into, Hospitals, Ambulatory Surgical Centers, and Others. The Hospitals segment registers for the Prostate Biopsy highest market share in 2023. This is mainly owing to increasing availability of large number of beds that provides quick services, proper treatment and availability of skilled professional and the availability of transrectal ultrasound increases the demand of treatment in hospitals and are increasing the growth of this segment. The ambulatory surgical centers segment is estimated to register the fastest CAGR of 6.4% over 2024-2030. This is mainly owing to availability of providing healthcare facilities that are focused on providing same-day surgical assistance, including diagnostic and preventive procedures and are increasing the growth of this market.

Prostate Biopsy Devices Market Segment Analysis – By Geography

On the basis of geography, North America held the highest segmental market share of around 38% in 2023, This is owing to availability of advanced biopsy devices and awareness among the people about disease. According to American Cancer Society, about 191,930 men in U.S. are diagnosed with prostate cancer that increases the treatment of prostate biopsy and are increasing the growth of this market. However, Asia-Pacific is estimated to outpace all the regions by clocking the highest CAGR of 7.2% during the forecast period 2024-2030 owing to rising geriatric population and increasing development in healthcare facilities. Chronic diseases such as cancer necessitate frequent and accurate diagnostic procedures, thereby increasing the utilization of advanced biopsy devices. The aging demographic further amplifies this demand, as older populations are more susceptible to such diseases. Technological innovations in biopsy devices, like minimally invasive techniques and enhanced imaging capabilities, have significantly improved diagnostic accuracy and patient outcomes. Recent case studies underscore this trend. Similarly, BD (Becton, Dickinson and Company) has been actively developing and deploying advanced biopsy technologies to improve diagnostic precision. These innovations not only cater to the clinical needs but also drive market growth, solidifying North America's position as the preeminent market for biopsy devices.

Prostate Biopsy Devices Market Drivers

Growing Demand for Biopsy Devices Driven by Minimally Invasive Techniques

Increasing incidence of prostate cancer and increasing demand for prostate biopsy treatment increases the growth of the Prostate Biopsy Market. According to World Health Organization, about 70% of death occur from cancer and about 1.41 million people have prostate cancer. Prostate cancer is one of the most common cancers among men, and early detection is crucial for effective treatment and improved survival rates. The growing awareness of prostate cancer and the importance of early diagnosis have led to increased participation in screening programs and higher rates of biopsy procedures. Governments, healthcare organizations, and advocacy groups are actively promoting prostate cancer awareness and screening, further driving the demand for prostate biopsy procedures.

Advancements in Imaging and Biopsy Techniques

Technological advancements in imaging and biopsy techniques are significantly driving the prostate biopsy market. Innovations such as MRI-ultrasound fusion-guided biopsy, in-bore MRI-guided biopsy, and advanced ultrasound technologies are improving the accuracy and precision of prostate biopsies. These advancements enhance the detection of clinically significant prostate cancers, reduce the risk of complications, and minimize the number of unnecessary biopsies. The continuous development of new imaging and biopsy technologies is expected to drive market growth by providing more effective diagnostic tools and improving patient outcomes.

Prostate Biopsy Devices Market Challenges

High Cost and Issues with Reimbursements

The high cost of advanced biopsy procedures and associated imaging technologies can pose a significant challenge to market growth. Techniques like MRI-ultrasound fusion-guided biopsy and in-bore MRI-guided biopsy are expensive, leading to higher healthcare costs for patients and providers. Additionally, reimbursement issues and variations in coverage policies across different regions and healthcare systems can impact the accessibility and affordability of these advanced biopsy procedures. Overcoming these cost and reimbursement challenges is essential to ensure wider adoption of advanced biopsy technologies and improve patient access to accurate and timely prostate cancer diagnosis.

Biopsy Devices Industry Outlook

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Prostate Biopsy Devices Market. The key companies in the Prostate Biopsy Devices Market are:

1. Argon Medical Devices, Inc.
2. Becton, Dickinson and Company
3. GE Healthcare
4. B. Braun
5. Boston Scientific Corporation
6. Hologic, Inc.
7. Cardinal Health, Inc.
8. Cook Group Incorporated
9. Danaher Corporation (Mammotome)
10. Fujifilm Holdings Corporation

Recent Developments

• In May 2023, Argon Medical Devices launched the SuperCore Advantage, a new semi-automatic biopsy instrument for the U.S. market.
• In May 2022, Terumo India joined forces with Argon Medical to bring a wider range of medical solutions to the Indian market. By combining their strengths, they addressed the increasing need for advanced tools in biopsies, deep vein thrombosis treatments, and other procedures.
• In April 2023, GE Healthcare unveiled the bkActiv system, an advanced ultrasound imaging solution designed for surgical applications. This system empowers surgeons by providing real-time imaging and enhancing their decision-making during surgical procedures.

For more Lifesciences and Healthcare Market reports, please click here