The global cancer biopsy market is set to experience robust growth, with a market size of USD 25.5 billion in 2023, according to the latest analysis by Future Market Insights. The market reach USD 131.4 billion by 2033, to expand at an impressive compound annual growth rate (CAGR) of 18% from 2023 to 2033, surpassing historical growth rates.
One of the key drivers of this growth is the rising incidence of cancer worldwide, which continues to be influenced by factors such as tobacco use, environmental exposures, lifestyle changes, and genetic predispositions. Cancer has become the second leading cause of death globally, fueled by environmental toxins, substance abuse, and viral agents. The International Agency for Research on Cancer (IARC) estimates that by 2020, there will be 19.3 million new cases of cancer and 9.96 million deaths from the disease.
Among various biopsy types, Tissue Biopsies are expected to dominate the market, with a projected CAGR of nearly 19% from 2023 to 2033, making it the highest revenue-generating segment. This is due to the growing demand for accurate diagnostic methods that enable early detection and effective treatment of cancer.
An emerging trend within the cancer biopsy landscape is the rise of Liquid Biopsies, which offer numerous advantages over traditional biopsy methods. Liquid biopsies provide a less invasive, cost-effective solution for cancer detection, enabling early prognosis, therapy monitoring, and detection of tumor heterogeneity and acquired drug resistance. This advancement is anticipated to revolutionize cancer diagnostics by providing patients with a more comfortable, streamlined experience.
The continued innovation in biopsy technologies is poised to play a crucial role in addressing the growing global cancer burden. With increasing awareness and advancements in diagnostic methods, the Cancer Biopsy Market is set for significant expansion in the coming years.
Key Takeaways: Global Cancer Biopsy Market Analysis
- Global Market Growth: The global cancer biopsy market is poised for substantial growth, with a market size of USD 25.5 billion in 2023. It is projected to expand at a robust CAGR of 18% from 2023 to 2033, outpacing historical growth rates.
- USA Market: The U.S. cancer biopsy market is expected to reach USD 57 million by 2033, growing at a CAGR of 21.4% over the forecast period. The market will have an absolute dollar opportunity of USD 49 million.
- United Kingdom Market: In the UK, the cancer biopsy market is forecasted to reach USD 4.1 billion by 2033, with a CAGR of 15.7%. The absolute dollar opportunity in this market is expected to be USD 3.1 billion.
- Japan Market: Japan’s cancer biopsy market is projected to grow at a CAGR of 19.4%, reaching USD 6.2 billion by 2033. This market is expected to see an absolute dollar opportunity of USD 5.1 billion during the forecast period.
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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.
Key Companies Profiled:
Qiagen N.V.; Illumina, Inc.; ANGLE Plc; Becton, Dickinson, and Company; Myriad Genetics; Hologic, Inc.; Biocept, Inc.; Thermo Fisher Scientific, Inc.; Danaher; F. Hoffmann-La Roche Ltd.; Lucence Diagnostics Pte. Ltd.; GRAIL, Inc.
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
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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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