Biopsy Forceps Market to Grow at 4% CAGR by 2027 – Key Insights

According to market research and competitive intelligence firm Fact.MR, the biopsy forceps market is projected to grow at a compound annual growth rate (CAGR) of 4%, reaching a valuation of US$ 317.3 million by 2027.

Biopsy forceps, with or without a needle, are specialized surgical instruments used by surgeons and medical professionals to grip objects and collect tissue samples for diagnostic and testing purposes. The design of biopsy forceps varies depending on their specific application, with many being made from durable stainless steel for enhanced performance.

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The increase in the global incidence of chronic illnesses including intestinal infections and cancer is one of the main factors expected to speed up the demand for biopsy forceps.

The need for biopsy forceps is anticipated to rise in the upcoming years due to advancements in non-invasive technologies that can identify tumor-specific abnormalities. It is also expected that government efforts to improve regulations and investments in healthcare and research and development will support market growth.

Which Areas See the Highest Biopsy Forceps Sales?

North America is expected to lead the global biopsy forceps market due to the rising demand and consumption of the instrument brought on by the numerous surgical procedures performed there each year in the US and Canada.

Europe is expected to have the second-largest share of the global biopsy forceps market due to the region's high rate of adoption of technologically improved products, rising product affordability, and high expenditure on healthcare services.

Key Factors Driving Biopsy Forceps Sales

Increasing Cancer and Gastrointestinal Disease Cases
The growing and aging global population is significantly boosting demand for biopsy forceps. According to the International Agency for Research on Cancer (IARC), cancer cases are projected to reach 27.5 million annually by 2040, with 16.3 million deaths. Similarly, the World Health Organization (WHO) estimates the population aged 60+ will grow from 900 million in 2015 to 2 billion by 2050, leading to higher prevalence of age-related conditions such as cancer and gastrointestinal disorders.

Adoption of Minimally Invasive Techniques
The shift towards minimally invasive surgical methods, coupled with the availability of innovative biopsy forceps, is further driving market growth. Increased healthcare spending and population growth are also key contributors to the rising demand for biopsy forceps globally.

Country-wise Analysis

The United States leads the biopsy forceps market in North America, and the country's aging population is contributing to its steady growth.

The U.S. Census Bureau estimates that by 2050, there will be 83.7 million Americans aged 65 and over, about twice as many as there were in 2012 (43.1 million). The baby boomers are mostly to blame for this increase in the senior population. By 2050, the last baby boomers will be older than 85.

Seniors need to be aware of certain physical and mental health issues. The biological process of aging is brought on by cellular and molecular damage over time. The elder population is likely to contribute to the development of new diagnostic methods because they are more prone to chronic illnesses.

Category-wise Analysis

As endoscopic processing technology continues to progress, endoscopic applications have become more and more prevalent. Therefore, it is anticipated that the growing need for diagnosis and endoscopic treatment will provide profitable possibilities for the market for disposable biopsy forceps.

Several market participants intend to continue sponsoring the development of advanced endoscopic tools in order to promote the adoption of minimally invasive procedures.

The stringent regulations imposed to guarantee patient safety and sanitation are incentivizing market participants to increase their investments in biopsy forceps. In an effort to gain a competitive advantage, businesses are also expanding their product portfolios.

Competitive Landscape

The global biopsy forceps market is highly fragmented, primarily due to low entry barriers. Intense competition has led manufacturers to focus on expanding their presence in emerging regional markets.

Key players in the market are dedicated to developing safer and more efficient biopsy forceps to meet the needs of surgeons and medical professionals.

Example:
In January 2021, Olympus Corporation announced its acquisition of Quest Photonic Devices B.V., aiming to enhance its surgical endoscopy offerings.