Cancer Biopsy Market

Growing Demand for Cancer Biopsy Market to Drive Market Growth

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Market Overview:

The global cancer biopsy market is estimated to be valued at US$22.86 billion in 2022 and is projected to exhibit a CAGR of 14.7% during the forecast period 2023-2030.

Cancer biopsy refers to the procedure of removing a small sample of tissue or cells from a tumor or suspected cancerous area for further examination and diagnosis. Cancer biopsies are crucial in determining the presence, type, and stage of cancer, aiding in the development of personalized treatment plans.

Market Key Trends:

One key trend in the cancer biopsy market is the increasing adoption of liquid biopsy techniques. Liquid biopsies involve the examination of blood samples to detect and analyze cancer-related genetic mutations, circulating tumor cells, and other biomarkers. These non-invasive tests offer several advantages over traditional tissue biopsies, including reduced patient discomfort, convenience, real-time monitoring, and the ability to capture more dynamic tumor changes. Liquid biopsies also allow for easier and repeated sampling, enabling clinicians to track tumor progression and response to treatment. The growing focus on precision medicine and the need for early cancer detection are driving the demand for liquid biopsy techniques in the cancer biopsy market.

Segment Analysis:

The cancer biopsy market can be segmented based on type, application, and end-user. Among these segments, the dominating sub-segment is the breast biopsy segment. Breast biopsy is a common procedure used for the diagnosis of breast cancer. It involves the removal of a small tissue sample from the breast for laboratory testing. The dominance of the breast biopsy segment can be attributed to the high prevalence of breast cancer and the increasing awareness about early detection and diagnosis.

Key Takeaways:

The Global Cancer Biopsy Market Size is expected to witness high growth, exhibiting a CAGR of 14.7% over the forecast period of 2023-2030. This growth can be attributed to several factors. One of the major drivers is the increasing prevalence of cancer worldwide. According to the World Health Organization, cancer is the second leading cause of death globally, and early detection plays a crucial role in improving patient outcomes. This has led to a rise in the demand for cancer biopsy procedures.

In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the cancer biopsy market. This can be attributed to the presence of advanced healthcare infrastructure, increasing healthcare expenditure, and high adoption of technologically advanced diagnostic procedures in the region. Additionally, the rising prevalence of cancer and government initiatives to promote early cancer detection and screening programs are contributing to the growth of the cancer biopsy market in North America.

Key players operating in the cancer biopsy market include QIAGEN, Illumina, Inc., Angle PLC, Myriad Genetics, COUNSYL, Inc., Hologic, Inc., Biocept, Inc., Thermo Fisher Scientific, Inc., Danaher, F. Hoffmann-La Roche Ltd., Epigenomics AG, BD (Becton, Dickinson and Company), and Helio Health (Laboratory for Advanced Medicine), among others. These key players are focused on developing technologically advanced biopsy products and expanding their geographical presence through strategic collaborations and acquisitions. The competitive landscape of the cancer biopsy market is highly fragmented, with several small and large players competing for market share.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it