approach. Application of this method prior to the initiation of complex surgeries is anticipated affect industrial
growth.
Product Insights
Some key products include needle based gun, forceps, guidance system and needle. Among these products,
guidance system contributed for the highest share of over 42% of total revenue owing to the price and usage of
the robotic guidance system which is comparatively high.
Factors that have led to increase in the revenue share of the guidance system are high demand for less invasive
and high accuracy system, growing tumour prevalence rate and increase in demand for the user-friendly
products and products based on innovative technology.
Needle based guns is a segment with most lucrative nature. As a consequence of increase in demand for
procuring internal organ samples from soft tissue sources such as prostate gland, kidneys, bone marrow, and
breast tissues this segment is anticipated to witness fastest growth.
Technological innovations drive the progress rate of the market. For instance, Aspirational syringe gun
developed by INRAD Inc. is gaining huge popularity due to the novel technology incorporated in the same. Other
products including Celero VAB by Hologic Inc. and Vacora and Finesse Ultra Breast System developed by BARD
is expected to exhibit positive growth especially in Canada, Japan and the U.S. With soaring demand for core
needle devices and fine needle aspiration, positive growth is expected in the industry.
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Regional Insights
North American biopsy market dominated with nearly 60% share in 2016. With the presence of government
support and favorable policies coupled with high awareness among the healthcare providers and patients this
region is anticipated to maintain its dominance in the coming years.
European region follows the North American region with respect to revenue share. Contributing factors include
high geriatric population which is expected to increase the prevalence of the oncology disease, especially in the
Western Europe. The government in this region encourages early diagnosis and tumor screening which drives
the amount of investment done for technologically advancement of devices that can efficiently work for this
matter. Aforementioned factors are attributive to fuel progress.