Global breast biopsy market is anticipated to grow at a considerable CAGR of 8.2% during the forecast period (2024-2031). The market growth is driven by the high prevalence of breast cancer, increasing breast cancer screening programs, rising adoption of minimally invasive breast biopsies, and high expenditure on breast cancer research. Additionally, the introduction of novel technologies such as vacuum-assisted biopsy, promising clinical trials, and raising awareness among women are some opportunities for the market. However, the harmful effects of breast biopsy are restraining the market growth during the forecast period.
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The global breast biopsy market is segmented by type (fine needle biopsy, core needle biopsy, surgical biopsy, and others (lymph node and vacuum-assisted biopsy)), by product (biopsy needles, guidance systems, biopsy tables, localization wires, assay kit, and other), by guided technology (MRI-guided biopsy, ultrasound-guided biopsy, mammography guided stereotactic biopsy, ct-guided biopsy and other), by end-user (hospitals, diagnostic center, and research institute), and by geographies (North America, Europe, Asia-Pacific, and Rest of the World).
Market Dynamics
In October 2024, the American Cancer Society (ACS), released Breast Cancer Statistics, 2024. The analysis reports a decline in the overall mortality rates from breast cancer by 44% since 1989, averting approximately 517,900 breast cancer fatalities. Additionally, an upward trend in breast cancer incidence, up by 1% annually during 2012-2021 was recorded, with the steepest increase in women younger than 50 years (1.4% per year) and Asian American/Pacific Islander (AAPI) women of any age (2.5%-2.7% per year).
Furthermore, breast cancer is the most common cancer among US women after skin cancer and the leading cause of cancer mortality in Hispanic women. In 2024, an estimated 310,720 new cases of invasive breast cancer will be diagnosed in women, and approximately 42,250 women are expected to lose their lives to the disease. Additionally, it is anticipated that 2,790 men will also be diagnosed with breast cancer. The expected number of male mortality is 530.
The major players in the global breast biopsy market include CDecaux Group, OUTFRONT Media Inc., Daktronics, Inc., Clear Channel Outdoor Holdings, Inc., and Adomni, Inc., among others. The market players are contributing significantly to the market growth, by the adoption of various business strategies, such as collaborations, mergers and acquisitions, product portfolio diversification, and more.
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Recent Developments
- In June 2024, researchers from The Institute of Cancer Research, London, developed a novel blood test that can predict the recurrence of breast cancer in high-risk patients, months or even years before they relapse. The team used an ultra-sensitive liquid biopsy to detect the presence of tiny amounts of cancer DNA left in the body following treatment for early breast cancer. The results were presented at the American Society of Clinical Oncology (ASCO) annual meeting in Chicago.
- In April 2024, Hologic, Inc. announced the acquisition of Endomagnetics Ltd (Endomag®) under a definitive agreement for approximately $310 million, subject to working capital and other customary closing adjustments.
- In June 2023, researchers from the Johns Hopkins Kimmel Cancer Center reported the organization’s efforts to develop an automated liquid biopsy test to predict early disease progression and potential survival among patients with metastatic breast cancer.
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