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Cancer Biopsy Market to Surpass USD 56.3 Billion by 2031 Driven by Rising Cancer Prevalence

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The Cancer Biopsy Market, valued at USD 30.2 Billion in 2023, is anticipated to reach USD 56.3 Billion by 2031. This translates to a compound annual growth rate (CAGR) of 8.1% throughout the forecast period from 2024 to 2031.

The Cancer Biopsy Market is projected to witness significant growth fueled by several key factors. These include the rising prevalence of oncological cases, increasing adoption of liquid biopsies, advancements in biopsy techniques, and growing awareness of inherited oncology disorders and genetic testing.

List of Cancer Biopsy Market Companies Profiled in Report:

  • Agena Bioscience Inc.
  • ANGLE Plc.
  • Becton, Dickinson and Company
  • Biocept, Inc.
  • Biodesix
  • Bio-Rad Laboratories Inc
  • Chronix Biomedical, Inc
  • Danaher
  • Epigenomics AG
  • Exact Sciences Corporation
  • Exosome Diagnostics Inc.
  • Roche Ltd
  • Freenome Holdings, Inc.
  • Genesystems, Inc.
  • GRAIL, Inc.
  • Guardant Health Inc.
  • HelioHealth
  • Hologic, Inc.
  • Illumina Inc.
  • Lucence Diagnostics
  • Myriad Genetics Inc
  • Natera, Inc.
  • Oncimmune
  • Personal Genome Diagnostics Inc
  • Personalis Inc.
  • Qiagen N.V.
  • Thermo Fisher Scientific, Inc

Download Free Sample Report of Cancer Biopsy Market @ https://www.snsinsider.com/sample-request/1759

Drivers of Growth in the Cancer Biopsy Market

The Cancer Biopsy Market is anticipated to experience significant growth fueled by the expanding geriatric population, as older adults are more susceptible to developing cancer.

Another key driver is the introduction of liquid biopsy and continuous advancements in biopsy techniques. Liquid biopsy offers a minimally invasive alternative to traditional tissue biopsies, making it an attractive option for patients and clinicians alike. Advancements in image-guided biopsies are also improving the accuracy and efficiency of the procedure.

For instance, in March 2022, liquid biopsy advancements allowed for the detection of cancer in various bodily fluids. This non-invasive method offers a significant advantage over traditional biopsies.

Rising Cancer Burden Fuels Market Growth

The rise in cancer cases is also playing a significant role in the growth of the Cancer Biopsy Market. According to CanRehab-2022, new cancer cases are expected to reach a staggering 27.5 million globally by 2040.

Furthermore, statistics from the National Cancer Institute (NCI) highlight the substantial burden of cancer in the United States. In 2021 alone, the US reported nearly 84,000 new bladder cancer cases, along with over 284,000 breast cancer cases and nearly 150,000 colon and rectal cancer cases. These figures exemplify the vast need for cancer diagnoses, which translates to a growing demand for biopsies.

Technological Advancements Drive Innovation

Technological advancements and product launches by key players are further contributing to the market’s growth. In the case of BillionOneTo Inc., its first oncology liquid biopsy products Northstar Select and Northstar Response were released in July 2022. These products are currently used in research settings with select academic cancer centers, showcasing the ongoing development in liquid biopsy technology.

The introduction of liquid biopsy in cancer diagnosis, screening, prognosis, and treatment monitoring has significantly increased competition and advancements within the market. Companies actively involved in developing and implementing liquid biopsies are seen as crucial drivers of growth, particularly in clinical settings.

An example of this is LabCorp’s introduction of a liquid biopsy in June 2023. This innovative blood test has the potential to identify cancer-related biomarkers, allowing patients to initiate the most effective treatment at the earliest possible stage. Currently, liquid biopsy is primarily used for patients who cannot undergo tissue biopsies, especially for diagnosing advanced and metastatic cancers.

Key Market Segments

By Product

  • Instruments
  • Kits And Consumables
  • Services

By Type

  • Tissue Biopsies
    • Needle Biopsies
    • Fine Needle Aspiration (FNA)
    • Core Needle Biopsy (CNB)
    • Surgical 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

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Breast Cancer Segment Poised for Dominance

The breast cancer segment is anticipated to be a major growth driver within the Cancer Biopsy Market throughout the forecast period. This dominance is fueled by the alarming rise in breast cancer cases globally.

Statistics paint a concerning picture. According to Breastcancer.org, the US alone saw an estimated 287,850 new invasive breast cancer cases in women during 2022, along with over 51,400 new cases of non-invasive breast cancer. Furthermore, the American Society of Clinical Oncology reports that over 3.8 million women in the US have a history of breast cancer.

The challenge extends beyond the US. Breast Cancer Now estimates that roughly 55,000 women are diagnosed with breast cancer annually in the United Kingdom, with significant numbers reported in England, Scotland, and Wales.

Cancer Biopsy Market
Cancer Biopsy Market

Russia-Ukraine War Disrupts Healthcare Systems

Since Russia’s invasion of Ukraine, damage to key healthcare infrastructures, power outages, and shortages of medicine and food supplies have presented major hurdles for patients requiring time-critical interventions. Oncology services have been significantly disrupted as hospitals and healthcare providers must prioritize trauma emergencies. The conflict has also caused a portion of Ukraine’s cancer burden to shift to neighboring nations. New solutions are needed for managing the various aspects of cancer care in Ukraine given the unique challenges associated with this disease.

Economic Slowdown and its Effects

Economic downturns can negatively impact the cancer biopsy market. Cancer centers need to understand how external factors like unemployment, health insurance coverage, poverty, and accessibility of healthcare services affect the communities they serve. This understanding is crucial for identifying systemic factors that contribute to inferior cancer-related outcomes.

North America to Maintain Dominance

North America boasts a strong focus on research and development, leading to cutting-edge advancements in biopsy techniques.

Unfortunately, North America faces a significant challenge with a high prevalence of cancer. For instance, the US witnessed a staggering number of new breast cancer cases in 2021, with estimates suggesting around 287,850 diagnoses. Additionally, Canada reports breast cancer as its second most common cancer, affecting a significant portion of the female population. These high numbers translate to a greater demand for biopsies to diagnose and manage the disease.

The market in North America is further fueled by a constant stream of innovative products. A prime example is the liquid biopsy technique developed by UCF researchers in June 2022. This non-invasive method holds immense potential for improved disease monitoring in patients battling breast and lung cancers. Such advancements are expected to propel the market’s growth in this region.

A purchase of this Cancer Biopsy Market study will equip you with valuable information, including:

  • Comprehensive insights into the factors driving the market growth, including rising cancer prevalence, technological advancements, and increasing adoption of liquid biopsies.
  • In-depth analysis of various market segments, such as the breast cancer segment, which is expected to hold a dominant position throughout the forecast period.
  • Impact assessment of global disruptions, including the Russia-Ukraine War and economic slowdowns, on the market’s growth.
  • Identification of key geographical developments, with North America anticipated to remain the leading region.
  • Competitive landscape analysis to understand the strategies adopted by major market players.

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Table of Content

Chapter 1 Introduction

Chapter 2 Research Methodology

Chapter 3 Cancer Biopsy Market Dynamics

Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)

Chapter 5 Value Chain Analysis

Chapter 6 Porter’s 5 forces model

Chapter 7 PEST Analysis

Chapter 8 Cancer Biopsy Market Segmentation, By Product

Chapter 9 Cancer Biopsy Market Segmentation, By Type

Chapter 10 Cancer Biopsy Market Segmentation, By Application

Chapter 11 Regional Analysis

Chapter 12 Company profile

Chapter 13 Competitive Landscape

Chapter 14 Use Case and Best Practices

Chapter 15 Conclusion

Continued…

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