Cancer Biopsy Market

Cancer Biopsy Market Outlook 2031

The global cancer biopsy market size was USD 27.99 billion in 2022 and is expected to reach USD 56.14 billion by 2031 expand at a considerable CAGR 8.04% during the forecast period, 2023 – 2031. The growth of the market is attributed to molecular characterization of tumors in oncology along with development of non-invasive liquid biopsies, increasing government initiatives for prevention of chronic diseases such as cancer, and rising research by key players in the field of oncology.

Biopsy is a medical procedure by which doctors examine the tissue of body. A cancer biopsy is a clinical process in which medical professionals extract body tissue in order to examine it under microscopic visualization. A cell can be extracted from all parts from body such as kidney, lungs, liver, stomach, and skin while cancer biopsy is used to differentiate cancerous and noncancerous cells, used to investigate disease symptoms, identify severity of disease.

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Medical professionals used various types of procedure for the diagnosis of cancer such as bone marrow biopsy for leukemia, lymphoma, and multiple myeloma, endoscopic biopsy for colorectal cancer, needle biopsy used for breast cancer and lung cancer, skin biopsy for melanoma, surgical biopsy employed for lymphoma. The main motive of biopsy is to determine proper biological functions of organs and abnormalities.

Cancer Biopsy Market Trends, Drivers, Restraints, and Opportunities

• Wide prevalence of cancer and increasing number of aging population who are at risk of exposing to several diseases are key drivers for the market growth.
• Rising development of advanced devices for molecular characterization of tumors along with development of non-invasive liquid biopsies for early detection of cancer are anticipated to boost the market expansion in the upcoming years.
• Development and wide adoption of new technology such as multiparametric magnetic resonance image (MRI) based diagnosis, which are reducing therapy cost, time consumption, and lessen pain of biopsy, prove to be a major factor propelling the market.
• Clinical procedure that involves piercing of skin can cause possible infection or bleeding during biopsy. Moreover, the lack of effective evaluation and less number of skilled medical professionals are the factors estimated to hinder the growth of the market during the forecast period.
• Introduction of automated diagnosis methods, increasing government initiative for cancer awareness, and increasing incidence of cancer can create lucrative opportunities for the market expansion during the forecast period.
• Increasing demand of image-guided needle biopsy, vacuum assisted biopsy, and emergence of various liquid biopsies are the key trends that expected to bolster the growth of cancer biopsy market during the forecast period.

Scope of The Cancer Biopsy Market Report

The report on the global cancer biopsy market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Global Cancer Biopsy Market Segment Insights

Kits & consumables is expected to grow at a rapid pace

Based on products, the global cancer biopsy market is divided into instruments, kits & consumables, and services. The kits & consumables segment accounted for a key share of the market in terms of revenue generation in 2020 and is expected to register a significant CAGR during the forecast period owing to wide usage in cancer diagnosis and emerging investment in research for kits development by key players.

The segment growth is further boosted by significant rise the number of cancer cases that increase the demand for advanced equipment and testing kits. Oncologists adopt liquid biopsy as it gives better results than conventional methods and use innovative technique that efficiently monitor the tumor growth of patients. These factors are estimated to propel segment growth in the upcoming years.

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Tissue biopsies constituted a major market share

On the basis of types, the global cancer biopsy market is divided into tissue biopsies, liquid biopsies, and others. Tissue biopsies segment is further divided into needle biopsies and surgical biopsies. The Needle biopsies is further sub-divided into fine needle aspiration and core needle biopsy. The tissue biopsies segment held a major market share in terms of revenue and is anticipated to constitute a dominant share of the market in the coming years.

Tissue biopsy is most commonly employed method adopted by medical professionals due to strong research collaborations for assessment of safety and proficiency. Moreover, improvement in technology that enable biopsy image to digitally scanned, which provide wide analysis and biological changes detect in the tissue at cytological or molecular level are the factors that fuel growth of the segment.

Meanwhile, the liquid biopsies segment is expected to grow at a rapid pace during the forecast period. Liquid biopsy enables identification of biomarkers in the circulatory system that allow non-hematologic cancer diagnosis, which acts as the main factor contributing to the segment expansion. Liquid biopsy employs various diagnostic procedures such as circulating tumor DNA (ctDNA), circulating tumor cells (CTCs), extracellular vesicles, and exosomes (also known as micro vesicles) that posses the capability to offer various treatment approach and prevention of disease progression. These are the major factors expected to boost the segment growth in the upcoming years.

Breast cancer is holding a dominant share

In terms of applications, the global cancer biopsy market is classified into breast cancer, colorectal cancer, cervical cancer, lung cancer, prostate cancer, skin cancer, blood cancer, kidney cancer, liver cancer, pancreatic cancer, ovarian cancer, and others. The breast cancer segment represented a major market share in revenue generation in 2020 and is anticipated to register a robust CAGR during the forecast period due to increased incidence rate of cancer across the globe.

Microscopic examination and breast histopathology are required for the patients having symptoms of cancer, which contributed to propel the segment growth. Development of fine needle aspiration, core needle technique, and circulating tumor cells (CTCs) are expected to boost the segment growth during the forecast period. Circulating tumor cells approach possess the capability to detect minimal residual disease (MRD) non spreading prostate cancer that can fuel the segment growth.

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North America is projected to dominate the market

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America held a major market share in terms of revenue in 2020 and is estimated to register a significant CAGR during the forecast period owing to development of advanced testing kits by key players in the region.

Medical professionals in the region are increasingly adopting liquid biopsy as a primary tool for cancer diagnosis, supported by regulatory laws of various regional government agencies. This is expected to propel the segment expansion in the upcoming time.

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Segments

The global cancer biopsy market has been segmented on the basis of

Products

• Instruments
• Kits & Consumables
• Services

Types

• Tissue Biopsies
  • Needle Biopsies
  • Fine Needle Aspiration
  • Core Needle Biopsy
• Surgical Biopsies
• Liquid Biopsies
• Others

Applications

• Breast cancer
• Colorectal Cancer
• Cervical Cancer
• Lung Cancer
• Prostate Cancer
• Skin cancer
• Blood Cancer
• Kidney Cancer
• Liver Cancer
• Pancreatic Cancer
• Ovarian Cancer
• Others

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Cernostics
• F. Hoffmann-La Roche Ltd.
• Thermo Fisher Scientific
• Abbott Laboratories Inc.
• Siemens Healthcare AG
• Becton, Dickinson & Company
• Agilent Technologies Inc.
• Danaher Corporation
• Qiagen
• Illumina Inc.
• Angle PLC
• Myriad Genetics, Inc.
• Hologic, Inc.
• Biocept, Inc.
• Lucence Health Inc.
• Guardant Health
• Exact Sciences Corporation
• Freenome Holdings, Inc
• Epigenomics AG
• Chronix Biomedical Inc.
• Personal Genome Diagnostics Inc.
• Natera, Inc.
• Personalis Inc.

Competitive Landscape

Some of the major players competing in market are Cernostics; F. Hoffmann-La Roche Ltd; Thermo Fisher Scientific; Abbott Laboratories Inc.; Siemens Healthcare AG; Becton, Dickinson & Company; Agilent Technologies Inc.; Danaher Corporation; Qiagen; Illumina Inc.; Angle PLC; Myriad Genetics, Inc.; Hologic, Inc.; Biocept, Inc.; Lucence Health Inc.; Guardant Health; Exact Sciences Corporation; Freenome Holdings, Inc.; Epigenomics AG; Chronix Biomedical Inc.; Personal Genome Diagnostics Inc.; Natera, Inc., and Personalis Inc.

Many of these key players are actively investing in research & development to develop novel biopsy procedures to attain business augmentation that allow major contribution to the market growth. Several of these companies are actively engaged in various market strategies such as product launches, mergers, partnerships, acquisitions, and expansion of production units to enhance their market position and expand their consumer base globally.

In February 2020, Qiagen launched mutation assay for the detection of breast cancer in patients suffer with PIK3CA mutation. Similarly, in November 2020, Cernostics announced that it planned for developing an assay for efficient tumor diagnosis of Barrett’s Esophagus occurred due to gastroesophageal reflux disease (GERD).