PORTLAND, Oregon and PUNE, India, October 6, 2017 /PRNewswire/ -- According to a new report published by Allied Market Research titled, Breast Biopsy Market by Product and End User - Global Opportunity Analysis and Industry Forecast, 2017-2023, the global breast biopsy market was valued at $977 million in 2016, and is projected to reach at $1,420 million by 2023, growing at a CAGR of 5.3% from 2017 to 2023. Core needle biopsy (CNB) segment accounted for about half of the global market share in 2016.

A breast biopsy is the procedure of locating a diseased tissue in the breast and collecting the specimen sample of the area for further examination and diagnosis. Breast biopsies are performed by using minimally invasive biopsy systems, owing to minimal disfigurement and pain. Non-invasive biopsy techniques provide preventive measures that assist physicians in diagnosing and treating high-risk breast cancer. This information prevents the application of chemotherapy in breast cancer, reducing the complexities of chemo-radiations. Vacuum assisted breast biopsy devices (VAB), core needle biopsies and fine needle aspiration biopsy are commonly used to perform biopsy procedures.

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The major factors that boost the market growth include rise in incidence of breast cancer, growth in awareness toward cancer screening programs, and increase in demand for minimal invasive breast biopsies. Moreover, the ongoing technological advancements of diagnostic and treatment technology for breast cancer have undergone a gradual transition from open surgery to minimal invasive biopsy procedures. Breast cancer is the most common type of cancer in women, especially in the U.S., where it is the second leading cause of death propels the demand for breast biopsy procedures. Furthermore, requirement of robust measures for disease control, the thrust for newer technologies has led to the development of minimal invasive surgeries. This has made breast biopsy as preferred modality to diagnose breast cancer and identify complex tumors and make accurate diagnosis. However, lack of awareness toward the availability of novel breast biopsy techniques and risk of infection involved in the procedures are projected to hamper the market growth.

The core needle biopsy (CNB) segment dominated the global market in 2016, and is expected to maintain this trend throughout the analysis period, owing to the less invasive procedure compared to others and it provides more definitive diagnosis. Moreover, use of CNB and ultra sonographic and mammographic guidance is highly accurate for diagnosing breast cancer that supplements the market growth.

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