The newly-released Cancer Biopsy Market analysis report by Future Market Insights reveals that global sales of the cancer biopsy market reached USD 22.2 billion in 2022. With a compound annual growth rate (CAGR) of 18%, the market is poised for substantial growth, expected to exceed historical growth rates significantly between 2023 and 2033.
Among the various segments, tissue biopsies are anticipated to be the highest revenue-generating category, projected to grow at a CAGR of nearly 19% during the forecast period. This surge is attributed to the increasing incidence of cancer worldwide and the rising demand for accurate and timely diagnostics.
The report highlights that advancements in biopsy techniques and technologies, coupled with a growing emphasis on early cancer detection and personalized medicine, are key factors driving the growth of the cancer biopsy market. As healthcare providers and researchers continue to prioritize precision oncology, the demand for various biopsy methods will likely rise.
Some of today’s prominent procedures in medical diagnosis include endoscopic, arthroscopic, bone marrow, skin, needle, and surgical biopsies. Needle biopsies are regarded as a trusted method for the early detection of patients suffering from these methods. However, fine-needle aspiration needle biopsies, which have been found to be less invasive and faster, are aiding the increase in popularity of the slice.
The IARC estimates that by 2020 the worldwide burden of disease due to cancer is projected to be 19.3 million cases and 9.96 million deaths worldwide. A liquid biopsy entails reduced expense, earlier prognosis, therapy surveillance, identification of tumor heterogeneity, acquired drug resistance, and patient comfort compared to conventional diagnostic tools for handling cancer.
Competitive Analysis
Key companies are helping to drive market expansion by diversifying their diagnostics portfolios and increasing the adoption of their own biopsy tools.
Key recent developments of key players in the Cancer Biopsy Market are as follows:
- In March 2021, in Russia, KIllumina, Inc. received medical device approval for their NextSeq 550Dx platform and related reagent kits. Prior to this registration, the MiSeq Dx had already been approved as a medical device.
- In March 2021, Autopsy with Quick-Core IZI Medical Products introduced a system for soft tissue biopsy procedures. This fully automated product is based on Quick-Core, the company’s patented semi-automatic method.
Competitive Landscape
Key companies are helping to drive market expansion by diversifying their diagnostics portfolios and increasing the adoption of their own biopsy tools.
- In March 2021, In Russia, KIllumina, Inc. has received medical device approval for their NextSeq 550Dx platform and related reagent kits. Prior to this registration, the MiSeq Dx had already been approved as a medical device.
- In March 2021, Autopsy with a Quick-Core IZI Medical Products has introduced a system for soft tissue biopsy procedures. This fully automated product is based on Quick-Core, the company’s patented semi-automatic method.
- In April 2021, Plasma-SeqSensei liquid biopsy research use only (RUO) kits were introduced in EMEA by Sysmex Europe GmbH and Sysmex Inostics GmbH.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Cancer Biopsy Market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of by Type (Tissue Biopsies, Liquid biopsies, Other Types), by Product Type (Instruments, Kits and Consumables, Services), by Application (Breast Cancer, Colorectal Cancer, Cervical Cancers, Lung Cancers, Prostate Cancers, Skin Cancers, Blood Cancers, Kidney Cancers, Liver Cancers, Pancreatic Cancers, Ovarian Cancers, Other Applications) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Market Segments Covered in Cancer Biopsy Industry Analysis
By Type:
- Tissue Biopsies
- Needle Biopsies
- Surgical Biopsies
- Liquid Biopsies
- Other Types
By Product Type:
- Instruments
- Kits and Consumables
- Services
By Application:
- Breast Cancer
- Colorectal Cancer
- Cervical Cancers
- Lung Cancers
- Prostate Cancers
- Skin Cancers
- Blood Cancers
- Kidney Cancers
- Liver Cancers
- Pancreatic Cancers
- Ovarian Cancers
- Other Applications
Author 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 faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as 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.
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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