PUBLISHER: The Business Research Company | PRODUCT CODE: 1619479
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619479
A cancer biopsy is a medical procedure in which a small sample of tissue or cells is extracted from a suspicious area of the body to determine the presence of cancer or other conditions. This procedure is essential for diagnosing cancer, as imaging tests such as CT scans or MRIs cannot definitively differentiate between cancerous and non-cancerous cells.
The primary types of cancer biopsies include tissue biopsies, liquid biopsies, and others. Tissue biopsies involve extracting a small tissue sample from the body for microscopic examination. These procedures are used to diagnose various types of cancer, including breast, colorectal, cervical, lung, prostate, skin, blood, kidney, and other cancers. They are employed by different end users, such as hospitals, diagnostic laboratories, and other healthcare facilities.
The cancer biopsy market research report is one of a series of new reports from The Business Research Company that provides cancer biopsy market statistics, including cancer biopsy industry global market size, regional shares, competitors with a cancer biopsy market share, detailed cancer biopsy market segments, market trends, and opportunities, and any further data you may need to thrive in the cancer biopsy industry. This cancer biopsy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The cancer biopsy market size has grown rapidly in recent years. It will grow from $22.12 billion in 2023 to $25.08 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%. Growth during the historic period can be attributed to increased awareness of breast cancer liquid biopsy procedures, greater understanding of inherited oncology disorders and genetic testing, rising adoption of liquid biopsies, increased demand for minimally invasive biopsy treatments, and a growing demand for tissue biopsies.
The cancer biopsy market size is expected to see rapid growth in the next few years. It will grow to $41.65 billion in 2028 at a compound annual growth rate (CAGR) of 13.5%. The projected growth for the forecast period can be linked to an increasing patient population, an expanding elderly demographic, a higher number of suspected breast cancer cases, a rise in cancer diagnoses, more frequent biopsy testing, and a general increase in patient numbers. Key trends during this time include technological advancements, the incorporation of artificial intelligence and machine learning, the integration of multi-omics, product innovations, and the development of point-of-care biopsy devices.
The increasing incidence of cancer is expected to drive growth in the cancer biopsy market. Cancer, characterized by abnormal cell growth and spread, is becoming more prevalent due to factors such as lifestyle changes, urbanization, environmental pollution, tobacco and alcohol consumption, and disparities in healthcare access and awareness. Cancer biopsies are crucial for diagnosing and assessing cancer type, stage, and progression by extracting and analyzing tissue or cells from suspicious areas. For instance, the National Center for Biotechnology Information reported in January 2023 that the United States had 1,958,310 new cancer cases and 609,820 cancer-related deaths. Additionally, a May 2021 report from the National Library of Medicine forecasted a global cancer burden of 28.4 million cases by 2040, representing a 47% increase from 2020, along with a corresponding rise in mortality rates. This growing prevalence is a significant factor driving the demand for cancer biopsies.
Key players in the cancer biopsy market are advancing liquid biopsy technologies to enable non-invasive, early detection and monitoring of cancer, thereby improving patient outcomes and supporting more personalized treatment approaches. Liquid biopsy is an advanced diagnostic method that analyzes genetic material in blood samples, including circulating tumor DNA (ctDNA), RNA, exosomes, and other biomarkers. In May 2023, Labcorp, a US-based leader in cancer biopsy solutions, launched Labcorp Plasma Focus, a plasma-based liquid biopsy designed to detect cancer-related biomarkers. The Plasma Focus test analyzes circulating cell-free DNA (cfDNA) from tumor cells in the bloodstream to generate a genomic profile of the patient's tumor, identifying mutations across 33 genes associated with various cancers, including non-small cell lung cancer, colorectal cancer, breast cancer, esophageal cancer, and melanoma.
In June 2023, Quest Diagnostics, a US-based provider of diagnostic information services, acquired Haystack Oncology for up to $450 million. This acquisition aims to enhance Quest Diagnostics' expertise in cancer diagnostics, particularly in the detection of minimal residual disease (MRD). Haystack Oncology is a US-based company that specializes in liquid biopsy technology for cancer detection.
Major companies operating in the cancer biopsy market are Thermo Fisher Scientific Inc., Danaher Corporation, Becton Dickinson and Company, Roche Diagnostics GmbH, Hologic Inc., Illumina Inc., Bio-Rad Laboratories Inc., QIAGEN N.V., Exact Sciences Corporation, Myriad Genetics Inc., Guardant Health Inc., Veracyte Inc., GRAIL Inc., Freenome Holdings Inc., Biodesix Inc., Chronix Biomedical Inc., Biocept Inc., Personal Genome Diagnostics Inc., Agena Bioscience Inc., Oncimmune Holdings plc, Exosome Diagnostics Inc., Epigenomics AG, Genesystems Inc., Lucence Diagnostics Pte. Ltd., ANGLE plc
North America was the largest region in the cancer biopsy market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cancer biopsy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the cancer biopsy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The cancer biopsy market consists of sales of biopsy needles, biopsy guns, and biopsy punches. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Cancer Biopsy Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cancer biopsy market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cancer biopsy ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cancer biopsy market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.