Microbiopsy Market Set to Surpass a Remarkable US$ 305.7 Million by 2033

The microbiopsy industry in the United States is expected to reach a market size of US$ 96.3 million by 2033. The prevalence of chronic diseases continues to increase, the demand for microbiopsy techniques and devices is expected to grow during the forecasted period.

NEWARK, Del, Dec. 14, 2023 (GLOBE NEWSWIRE) — The microbiopsy market is anticipated to reach a valuation of US$ 157.5 million by 2023. It is anticipated that the market will grow at a 6.9% CAGR to reach US$ 305.7 million by 2033. The phrase “microbiopsy market” refers to the worldwide market for microbiopsy instruments, materials, and services. A microbiopsy is a minimally invasive procedure used to obtain small tissue samples for use in research, diagnosis, or therapy. The treatment is widely used in many medical areas, including urology, dermatology, cancer, and gastrointestinal disorders.

Numerous reasons have contributed to the tremendous rise of the microbiopsy market in recent years. These include the rise in the incidence of chronic illnesses like cancer, the demand for less intrusive procedures, the development of microbiopsy equipment, and the increased emphasis on personalized medicine market share. The market’s progress has also been aided by the increase in R&D activities and the increasing use of microbiopsy procedures in research organizations, pharmaceutical firms, and academic institutions.

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In general, it is anticipated that the microbiopsy industry would keep expanding in the upcoming years. The market is projected to grow as a result of factors like the rising prevalence of chronic diseases, improvements in microbiopsy technology, and the demand for precise and individualized diagnosis and treatments.

“The Microbiopsy market, as highlighted by our recent research study, is positioned for substantial growth. With a nuanced understanding of tissue sampling needs, the market is witnessing increased adoption of microbiopsy techniques, fostering precision in diagnostic procedures. Our findings project a trajectory of continuous expansion, driven by advancements in minimally invasive sampling technologies and a growing emphasis on accurate pathological insights,” opines Sabyasachi Ghosh, Associate Vice President at Future Market Insights (FMI).

Key Takeaways from the Microbiopsy Market:

  • The microbiopsy industry in the United States is predicted to reach US$ 96.3 million by 2033, increasing at a 6.4% CAGR.
  • The microbiopsy industry in the United Kingdom is estimated to reach a market value of US$ 15.6 million, expanding at a CAGR of 6.3% by 2033.
  • During the forecast period, the microbiopsy industry in China is expected to reach a market value of US$ 18.7 million, securing an 8.1% CAGR over the forecast period.
  • The microbiopsy industry in Japan is predicted to reach US$ 15.2 million by 2033, increasing at a 7.4% CAGR.
  • South Korea’s microbiopsy industry is predicted to achieve a market value of US$ 13.5 million, rising at an 8.8% CAGR by 2033 end.
  • With a CAGR of 8.2% from 2023 to 2033, microbiopsy needles segment is expected to dominate the microbiopsy industry.
  • With a CAGR of 8.2% from 2023 to 2033, the skin cancer indication are expected to dominate the microbiopsy industry.
  • With a CAGR of 6.7% from 2023 to 2033, the hospitals are expected to dominate the microbiopsy industry.

How Does the Competition Look in the Microbiopsy Market?

The microbiopsy sector is a very competitive one, with many firms fighting for market share.

The main corporations are investing extensively in research and development efforts to develop inventive and creative products with improved reliability, efficacy, and cost. In order to meet changing consumer expectations, they are also concentrating on extending their product portfolio and bolstering their distribution strategies.

Tactical alliances and partnerships with other companies are becoming more common in the industry, allowing parties to leverage one another’s strengths and expand their market influence.

Leading firms use consolidation and mergers to strengthen their market position and gain entry into new markets. The sector is expanding significantly in developing economies, particularly in India and China.

To boost their presence in these regions, major companies are expanding their distribution networks and building regional manufacturing sites. They are also concentrating on offering cost-effective solutions to customers in these markets in order to get a competitive advantage.

Key Players in the Microbiopsy Industry:

  • Trajan Scientific Australia Pty Ltd.
  • Vigeo
  • Zamar Biopsy
  • Medax
  • AprioMed
  • Hologic
  • Mammotome
  • M.D.L.
  • Histo
  • Changzhou Mingle Medical Equipment Co., Ltd.
  • Surtex Instruments Limited
  • Boston Scientific Corporation

Microbiopsy Market Size:

Attributes Details
Microbiopsy Market Size (2023) US$ 157.5 million
Microbiopsy Market Projected Size (2033) US$ 305.7 million
Value CAGR (2023 to 2033) 6.9 %  

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Segmentation Analysis of the Microbiopsy Market:

By Product:

  • Microbiopsy Needle
  • Microbiopsy Forceps
  • Microbiopsy Devices

By Indication:

  • Skin cancer
  • Actinic keratosis
  • Dermatitis
  • Others

By End User:

  • Hospitals
  • Specialty Clinics
  • Cancer Institutes

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

Authored By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Originally published at https://www.einpresswire.com/article/675032180/microbiopsy-market-set-to-surpass-a-remarkable-us-305-7-million-by-2033-future-market-insights-inc