Cancer Biopsy Market To Reach USD 85.03 Billion By 2032, Driven By Rising Cancer Incidence And Advances In Liquid Biopsy Technologies

(MENAFN- GlobeNewsWire - Nasdaq) Increasing cases of cancer worldwide, investment in research and development, and continuous enhancement in biopsy technology are the factors responsible for growth in the cancer biopsy market.

Pune, Oct. 09, 2024 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that, “ The Cancer Biopsy market was USD 28.12 billion in 2023 and is expected to reach USD 85.03 billion by 2032, growing at a CAGR of 13.0% over the forecast period from 2024 to 2032. ”

Market Summary

The Cancer Biopsy Market is experiencing a sharp upsurge owing to the rising demand for effective cancer diagnosis and treatment options. With evolving healthcare systems and new technologies, the related biopsy procedures' methodologies are getting better along with it. With such improvements, the biopsy techniques have been advanced to be more precise and less invasive, and healthcare providers can provide diagnostic services to patients.

The rising prevalence of various types of cancer, including breast, lung, colorectal, and kidney cancer is further boosting the growth of biopsy procedures. Being one of the leading factors of mortality globally, cancer requires early and precise diagnosis to provide better care to patients. The rising investment in kits and instrumentation used for biopsy leads to an increase in the market in response to the critical need for proper cancer diagnosis.

Knowledge about the need for an early diagnosis is also creating growth in the market. The rising public awareness of symptoms, which attend to cancers at hospitals for diagnostic purposes, raises biopsy demand. Better healthcare infrastructure, innovative product offerings, and personalized medicine are further helping to improve the overall landscape of cancer diagnostics on the supply side of the market.

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Key Players:

• QIAGEN
• Illumina, Inc.
• ANGLE plc
• Hologic, Inc.
• Biocept, Inc.
• BD (Becton, Dickinson, and Company)
• Myriad Genetics, Inc.
• Thermo Fisher Scientific, Inc.
• Genesystems, Inc. (Genesys Biolabs)
• Danaher
• F. Hoffmann-La Roche Ltd.
• Lucence Health Inc.
• GRAIL, Inc.
• Natera, Inc.
• Personalis Inc.
• Guardant Health Inc.
• Exact Sciences Corporation
• Oncimmune
• Epigenomics AG
• HelioHealth (Laboratory for Advanced Medicine)
• Freenome Holdings, Inc.
• Biodesix (Integrated Diagnostics)
• Chronix Biomedical, Inc.
• Personal Genome Diagnostics Inc. and Others.

Cancer Biopsy Market Report Scope:

Report Attributes	Details
Market Size in 2023	USD 28.12 Billion
Market Size by 2032	USD 85.03 Billion
CAGR	CAGR of 13.0% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Report Scope & Coverage	Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments	. By Product (Instrument, Kits and Consumables, Services) . By Type (Tissue Biopsies, Liquid Biopsies, Others) . By Application (Breast Cancer, Colorectal Cancer, Cervical Cancers, Lung Cancers, Prostate Cancers, Skin Cancers, Blood Cancers, Kidney Cancers, Liver Cancers, Pancreatic Cancers, Ovarian Cancers, Others)
Key Drivers	. The role of liquid biopsy technologies, public awareness initiatives, increasing cancer incidence, and demographic shifts

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Segment Analysis

By Product:

In 2023, the Kits and Consumables segment held the largest share of the market at 61.8%. This market growth in the kits and consumables segment is attributed to the rising usage of kits for productive screening and diagnostic solutions. Advances in biopsy techniques with special collection containers and progressive tissue preservation solutions have also fueled the market. Advances in both the accuracy of the outcome and the patient's comfort during such procedures are improving.

By Type:

Tissue Biopsy held the largest market share at 61.7% in 2023, which grew due to the increasing number of cancer cases and the advancement of biopsy-related technologies. The adoption of personalized medicine that treats patients according to the specific characteristics of the tumor is also on the rise increasing the need for advanced tissue biopsy techniques.

By Application:

The market share was led by the Breast Cancer segment in 2023 with a growth of 15.7%. This growth is supported by ongoing advancements in screening tools and increased awareness surrounding breast cancer, which has led to higher screening rates. The Kidney Cancer segment is expected to grow at the fastest CAGR of 10.34% during the period. This is because of ongoing research and the development of novel biomarkers for early detection.

Regional Analysis

The Cancer Biopsy Market was dominated by North America in 2023, mainly due to the strong healthcare infrastructure, massive investment in R&D, and strong presence of market leader companies. The United States remains technologically advanced in cancer diagnostics. Companies such as Roche and Thermo Fisher Scientific have been consistently introducing novel biopsy technologies to improve the care quality of patients in the region, which gives North America a strong grip on the Cancer Biopsy Market.

Asia-Pacific is likely to experience the maximum growth rate during the forecast period. The increase in cancer cases, improvement in healthcare facilities, and an elevated awareness among patients to detect and diagnose the disease in advance are all boosting cancer biopsy technologies. China and India are experiencing robust growth in cancer biopsy technologies. Companies like Guardant Health and Bristol-Myers Squibb are making considerable strides in the region. Government actions to enhance access to health care and investments in health care infrastructure are also anticipated to give impetus to market growth in Asia-Pacific.

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Recent Developments

March 2024: Guardant Health launched the Guardant360 CDx, a liquid biopsy assay to detect mutations that were granted by the FDA as a companion diagnostic in breast cancer. This is one of the personalization changes going on in the treatment of cancer.

April 2024: Roche unveiled the Biomarker Testing Panel, a development that may outshine tissue biopsy capabilities in lung cancer personalized medicine strategies. This panel will provide information that will allow doctors to decide which treatment must be done with each patient based on particular characteristics.

May 2024: Biocept announces a new liquid biopsy technology that improves the detection of circulating tumor DNA in patients with colorectal cancer. This capability allows non-invasive monitoring of cancer's progression and response to treatment.

June 2024: NeoGenomics launches the NeoLab Liquid Biopsy Panel, which relies on next-generation sequencing for even greater genetic profiling resolution across the full spectrum of these tumors. The NeoLab Liquid Biopsy Panel may thereby provide for improved diagnostic accuracy, facilitating better choices for targeted therapies in patients.

Table of Contents – Major Key Points

1. Introduction

• Market Definition
• Scope (Inclusion and Exclusions)
• Research Assumptions

2. Executive Summary

• Market Overview
• Regional Synopsis
• Competitive Summary

3. Research Methodology

• Top-Down Approach
• Bottom-up Approach
• Data Validation
• Primary Interviews

4. Market Dynamics Impact Analysis

• Market Driving Factors Analysis
• PESTLE Analysis
• Porter's Five Forces Model

5. Statistical Insights and Trends Reporting

• Incidence and Prevalence of Cancer, by Type (2023)
• Adoption Trends of Liquid and Tissue Biopsy Techniques, by Region (2023)
• Volume of Cancer Biopsy Procedures, by Region (2020-2032)
• Healthcare Spending on Cancer Biopsies, by Region (Government, Commercial, Private, Out-of-Pocket), 2023
• Trends in Cancer Biopsy Technology and Innovation (2023)
• Regulatory Approvals and Guidelines for Cancer Biopsy Devices and Methods (2023)

6. Competitive Landscape

• List of Major Companies, by Region
• Market Share Analysis, by Region
• Product Benchmarking
• Strategic Initiatives
• Technological Advancements
• Market Positioning and Branding

7. Cancer Biopsy Market Segmentation, by Product

8. Cancer Biopsy Market Segmentation, by Type

9. Cancer Biopsy Market Segmentation, by Application

10. Regional Analysis

11. Company Profiles

12. Use Cases and Best Practices

13. Conclusion

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