24 July 2019 - The Global Biopsy Forceps Market is subject to witness a substantial growth due to the rising occurrence of cancer and increasing demand from both developed and developing economies across the globe. Increasing healthcare expenditure and recent improvements in the healthcare infrastructure, particularly in the Asia Pacific region are expected to fuel market demand for biopsy forceps in the upcoming years. Globally, the biopsy forceps market is predicted to grow at CAGR of 6.5% in the forecast period, providing numerous opportunities for market players to invest in research and development of the biopsy forceps devices.

Soaring demand for advanced analytical techniques for treatment of cancer is predicted to favor market growth in the upcoming years. In addition, surging need for fewer intrusive surgeries and disposable biopsy instruments is projected to foster the growth of market over the forecast period. The recent technological advancement coupled with development of the novel products & techniques such as advanced biopsy guidance systems and vacuum assisted guns are expected to provide platform for the sustained growth of biopsy forceps market in upcoming years.

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Growing popularity of the biopsy forceps devices in patients and healthcare professionals offer lucrative growth opportunities for industry players in the forecast period. Growing geriatric population and emergence of cost effective solution are propelling the market growth in recent years. As per recent reports published by WHO (World Health Organization), cancer is considered to be one of the major causes of death across the globe.

Growing prevalence of cancer and cancer related diseases drives the market demand for biopsy forceps devices in the upcoming years. Changing lifestyle patterns, increasing smoking population across the globe and varying food habits are considered as major causes of cancer. Rising incidences of fatal cancer among patients such as colorectal cancer, breast cancer, lung cancer, liver cancer, and stomach cancer are projected to boost market growth. Almost 23.6 million people around the globe are expected to display cancer symptoms by next decade. Demand for highly effective, safer, and enhanced biopsy procedures is one the rise. Additionally, development of minimally invasive medical procedures that offers numerous advantages over traditional procedures are boosting market value of biopsy forceps devices, in the last few years. Minimally invasive medical procedures offer faster recovery of patients and are less traumatic.

The market is broadly categorized into four major types based on product type such as needle-based biopsy guns, biopsy guidance systems, biopsy needles, and biopsy forceps. The needle-based biopsy guns is considered as one of the fastest growing segment in the biopsy forceps market with substantial revenue generation in the last couple of years. Growing popularity of the needle-based biopsy guns segment is attributed to growing requirements of these devices to carry out diagnosis of soft tissues of internal organs such as breasts, kidneys, and lungs. Factors responsible for sustained growth of the needle-based biopsy guns segment include development of aspiration biopsy syringe guns to perform complex diagnosis procedures.

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The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in pharmaceuticals & medicine sector, higher penetration rates of advanced devices like vacuum assisted biopsy systems, increase in demand for disposable devices from healthcare professionals, and existence of well-established healthcare infrastructure in the region.

Asia-Pacific region is predicted to hold major market share in the biopsy forceps market with massive growth in forecast period. Countries such as India, China and South Korea are leading the Asia-Pacific market with increasing healthcare expenditure, growing prevalence of cancer related diseases, presence of high-unmet patient needs, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the biopsy forceps market are Inard Inc., Carefusion Co., Devicor Medical Products, Inc., DTR Medical, Ltd., Hologic Inc., C.R. Bard Inc., Biopsy Sciences LLC, and Cardinal Health Inc.

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