Biopsy Punch Market : Growth and Opportunities Forecast to 2018 – 2028
Biopsy punches have been gaining increasing momentum in healthcare sector over the years for utility in diagnostic, therapeutic, and cosmetic procedures. It can be used to remove an area that includes all skin layers needed for proper diagnosis and help plan treatment of many types of cancer such as melanoma as well as non-melanoma skin cancer, inflammatory breast cancer, and others. Apart from their powerful impact in the field of dermatology and oncology, biopsy punches are used for diagnosing and treating several medical conditions.
The biopsy punch is an automatic, hand held, lightweight instrument with a slender, which has become an instrument of choice for taking minimally invasive, small samples quickly. It has a hollow, circular cutting tip, generally made of stainless steel.
Biopsy punch has also found a number of applications in various research studies such as electrophysiology, anti-aging research, microfluidics, bio-pharmacology, forensic sampling, and plant and medical genomics.
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Biopsy Punch Market – Notable Developments
- R. Bard, Kai Industries, Bako, Robbins Instruments, CooperSurgical, G. HARTZELL & SON INSTRUMENT, Schuco, BR Surgical, Acuderm, MedGyn, Integra LifeSciences, Sklar Surgical Instruments, Cadence, Wallach Surgical Devices, AmTech Medical SA, and DTR Medical Ltd are among leading companies operating in the biopsy punch market.
- In April 2018, DTR Medical Ltd, one of the leading manufacturers of biopsy punch introduced a new line of product – Single-use Cervical Rotating Biopsy Punch – which features a new top jaw stronger than titanium and the strength has been improved by 4 times from the previous jaws. According to the company, it is the latest evolution in its gynecology range and has been designed to ensure a sharp, clean cut that reduces cervical trauma and patient discomfort. The single-use Cervical Rotating Biopsy Punch will be available on new code CBR1041.
- In December 2017, BD (Becton, Dickinson and Company), one of the largest global medical technology companies, completed its acquisition of C. R. Bard, Inc, a key manufacture of biopsy devices, in $16 billion deal. The combined company is aimed at improving treatment of diseases as well as process of care for healthcare professional. In addition, Bard’s strong product portfolio and innovation pipeline will create opportunities for BD in fast-growing clinical areas.
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Biopsy Punch Market Dynamics
Technological advancements in medical devices along with rapidly rising incidences of cancer and skin disorders have led to surge in the demand for biopsy devices, influencing the development of biopsy punch market. In addition, propelling demand for less invasive surgeries and both reusable and disposable biopsy devices are expected to complement the expansion of biopsy punch market in the coming years.
Minimally invasive medical procedures have been gaining increasing popularity in the recent years, as they are less traumatic and result in faster recovery of patients. Further, these procedures are rapidly replacing invasive surgeries and provides higher patients satisfaction levels. These are among key factors bolstering the growth of biopsy punch market.
Biopsy Punch Market Players Foresee Lucrative Sales Opportunities in Emerging Economies
Growing government initiatives on the development of healthcare infrastructure along with increase in healthcare spending capabilities on the coattails of rising disposable income in emerging economies are likely to create lucrative opportunities for biopsy punch market players.
Development of more effective, safe, and advanced products to meet the increasing need for effective diagnostic procedures will be a key growth strategy for manufacturers of biopsy punch. However, in emerging economies, high price associated with devices and lack of technical expertise may hamper the growth of biopsy punch market in these regions.
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