Cancer Biopsy Market Surpass $67.11 billion by 2030 - Exclusive Report by Coherent Market Insights

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Dec 11, 2023, 06:14 ET

BURLINGAME, Calif., Dec. 11, 2023 /PRNewswire/ -- According to Coherent Market Insights, The global cancer biopsy market was valued at US$ 25.61Billion in 2023 and is forecast to reach a value of US$ 67.11 Billion by 2030 at a CAGR of 14.7% between 2023 and 2030.

The Cancer Biopsy Market is expected to witness high growth due to the increasing incidence of cancer worldwide. The rising prevalence of different types of cancer, such as lung cancer, breast cancer, prostate cancer, and colorectal cancer, is driving the demand for cancer biopsy procedures. Biopsy plays a crucial role in the early detection and diagnosis of cancer, helping healthcare professionals determine the type and stage of cancer, as well as guide treatment decisions. This is resulting in the growing adoption of cancer biopsy procedures, fueling market growth.

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Additionally, technological advancements in biopsy techniques are further driving market growth. The development of minimally invasive biopsy procedures, such as liquid biopsy and image-guided biopsy, has improved the accuracy and precision of cancer diagnosis. These advanced techniques offer benefits like reduced patient discomfort, faster recovery, and decreased healthcare costs. As a result, healthcare professionals and patients are increasingly opting for these minimally invasive biopsy procedures, contributing to the market growth of cancer biopsy.

Market Trends:

Two key market trends are shaping the Cancer Biopsy Market. The first trend is the increasing adoption of liquid biopsy techniques. Liquid biopsy involves the analysis of biomarkers, such as circulating tumor DNA (ctDNA), circulating tumor cells (CTCs), and exosomes, in blood samples. This non-invasive technique can provide valuable information about the genetic composition of the tumor, aiding in personalized treatment decisions and monitoring treatment response. The rising demand for non-invasive and convenient cancer diagnostic methods is driving the adoption of liquid biopsy techniques in the market.

The second trend in the Cancer Biopsy Market is the integration of artificial intelligence (AI) in biopsy analysis. AI algorithms can analyze large volumes of biopsy images and assist pathologists in identifying cancerous cells accurately. This technology helps in reducing diagnostic errors and improving the efficiency of cancer diagnosis. Furthermore, AI-based systems

Recent Developments:

In August 2022, Guardant Health's Guardant360 CDx liquid biopsy test was granted FDA approval as a companion diagnostic to identify patients with unresectable or metastatic HER2-mutant non-small cell lung cancer (NSCLC) suitable for treatment with ENHERTU (fam-trastuzumab deruxtecan-nxki).

In May 2022, Delfi Diagnostics, a leading developer of accessible and accurate liquid biopsy tests for early cancer detection, showcased various applications for its advanced liquid biopsy platform. Among the highlights was an update on the ongoing DELFI-L101 study, designed to train and test classifiers for the detection of lung cancer.

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Market Opportunities

Liquid biopsy is a non-invasive procedure that involves the collection and analysis of circulating tumor DNA (ctDNA) and other biomarkers from a patient's blood sample. It has gained significant attention in the field of cancer diagnostics due to its ability to provide real-time information about a patient's tumor profile without the need for invasive tissue biopsies.

The liquid biopsy segment is anticipated to witness significant growth in the cancer biopsy market. Factors such as its non-invasive nature, ability to detect minimal residual disease, and potential use in monitoring treatment response and disease recurrence make it an attractive option for cancer patients and healthcare providers. Moreover, advancements in technology and the development of novel liquid biopsy tests have further fueled the demand for this diagnostic method.

Rising Incidence of Breast Cancer

Breast cancer is one of the most common cancers worldwide and has a high mortality rate. Early detection is crucial for successful treatment outcomes, leading to an increased demand for breast cancer biopsy procedures. The breast cancer segment is expected to dominate the cancer biopsy market.

Growing awareness about the importance of regular breast cancer screening, the availability of advanced diagnostic techniques, and government initiatives aimed at spreading awareness about breast cancer have contributed to the growth of this segment. Additionally, the introduction of innovative biopsy methods, such as vacuum-assisted breast biopsy and ultrasound-guided biopsy, has further propelled market growth in this segment.

Read complete market research report,"Cancer Biopsy Market, By Product, By Application, By Region, and Segment Forecast 2023-2030", Published by Coherent Market Insights.

Key Market Takeaways:

The cancer biopsy market is anticipated to witness a CAGR of 14.7% during the forecast period 2023-2030, owing to the increasing demand for accurate and reliable diagnostic techniques in cancer management.

On the basis of the product segment, the instruments segment is expected to hold a dominant position in the market. This can be attributed to the wide range of instruments available in the market for performing biopsy procedures, including needle holders, forceps, and biopsy guns.

In terms of biopsy type, tissue biopsy is expected to dominate the market. The high incidence of solid tumors and the need for histological examination to confirm cancer diagnosis are the key factors driving the growth of this segment.

Among the various applications of cancer biopsy, breast cancer is expected to hold a dominant position. The rising prevalence of breast cancer, especially in women, and the implementation of breast cancer screening programs have positively influenced market growth in this segment.

Regionally, North America is expected to dominate the cancer biopsy market over the forecast period. The presence of advanced healthcare infrastructure, favorable reimbursement policies, and a high incidence of cancer in the region are the key factors contributing to the leading position of North America.

Key players operating in the cancer biopsy market include QIAGEN, Illumina, Inc., Angle PLC, Myriad Genetics, COUNSYL, Inc., and Hologic, Inc., among others. These players are focused on developing innovative products and expanding their geographic presence to gain a competitive edge in the market.

In conclusion, the cancer biopsy market presents lucrative opportunities for growth, particularly in the areas of liquid biopsy and breast cancer detection. With advancements in technology and the increasing prevalence of cancer worldwide, the demand for accurate and reliable diagnostic techniques is expected to drive market growth. Market players should focus on product innovation and strategic collaborations to capitalize on these opportunities and gain a competitive advantage in the market.

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Detailed Segmentation:

Global Cancer Biopsy Market , By Product:
- Instruments
- Kits and Consumables
- Services
Global Cancer Biopsy Market , By Biopsy Type:
- Tissue Biopsy
  - Needle Biopsy
    - Fine Needle Aspiration (FNA)
    - Core Needle Biopsy (CNB)
- Liquid Biopsy
- Others
Global Cancer Biopsy Market, By Application:
- Breast Cancer
- Colorectal Cancer
- Cervical Cancer
- Lung Cancer
- Prostate Cancer
- Skin Cancer
- Blood Cancer
- Kidney Cancer
- Liver Cancer
- Pancreatic Cancer
- Ovarian Cancer
- Others
Global Cancer Biopsy Market , By Geography:
- North America
  - U.S.
  - Canada
- Latin America
  - Brazil
  - Mexico
  - Rest of Latin America
- Europe
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
- Asia Pacific
  - China
  - India
  - Japan
  - Australia
  - South Korea
  - Rest of Asia Pacific
- Middle East & Africa
  - South Africa
  - GCC Countries
  - Rest of Middle East & Africa

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