What are the Historical Developments and Current Growth Metrics of the Cancer Biopsy Market?
The cancer biopsy market has seen considerable growth due to a variety of factors.
• The size of the cancer biopsy market has witnessed swift expansion in recent years. Its growth is projected to escalate from $25.08 billion in 2024 to $28.52 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 13.7%.
The significant expansion during the historic phase can be attributed to the heightened awareness for breast cancer liquid biopsy procedures, escalating cognition of inherited cancer conditions and genetic testing, rising preference for liquid biopsies, and increased demand for minimally invasive biopsy treatments, besides an increased demand for tissue biopsies.
What is the Forecasted Market Size and CAGR for the Cancer Biopsy Market?
The cancer biopsy market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, a swift expansion is anticipated in the cancer biopsy market, ballooning to $47.2 billion in 2029 at a compound annual growth rate (CAGR) of 13.4%.
This predicted surge in the forecast period can be tied to factors like a rise in patient numbers, an aging population, an increased suspicion of breast cancer in patients, escalating cancer incidences, and a surge in diagnostic and biopsy tests. Key trends observed for the forecast period encompass technological progress, the use of artificial intelligence and machine learning, the incorporation of multi-omics, innovative products, and the advent of point-of-care biopsy devices.
What Key Factors and Trends Are Driving The Growth Cancer Biopsy Market?
The escalating incidence of cancer is forecasted to fuel the expansion of the cancer biopsy market. Cancer is a multifaceted collection of diseases distinguished by the sporadic proliferation and dispersion of cells. Numerous factors can be attributed to the escalating incidence of cancer, including changes in lifestyle and urbanization, environmental contamination, usage of tobacco and alcohol, access to healthcare, and increased awareness. Cancer biopsies are utilized to diagnose and evaluate the type, stage, and progression of cancer by taking and examining tissue or cells from a suspicious site. For example, in January 2023, the National Center for Biotechnology Information, a US intergovernmental organization, reported that in the United States, there were 1,958,310 new cancer cases and 609,820 deaths due to cancer. Moreover, according to the National Library of Medicine, a US-based medicine library, the global cancer burden is predicted to reach 28.4 million cases in 2040, a significant increase of 47% from 2020, leading to a high mortality rate. Consequently, the escalating incidence of cancer is playing a crucial role in propelling the growth of the cancer biopsy market.
What Are The Market Segments In The Cancer Biopsy Market?
The cancer biopsymarket covered in this report is segmented –
1) By Type: Tissue Biopsies, Liquid Biopsies, Other Types
2) By Application: Breast Cancer, Colorectal Cancer, Cervical Cancers, Lung Cancers, Prostate Cancers, Skin Cancers, Blood Cancers, Kidney Cancers, Other Applications
3) By End User: Hospitals, Diagnostic Laboratories, Other End Users
Subsegments:
1) By Tissue Biopsies: Core Needle Biopsies, Fine Needle Aspiration (FNA) Biopsies, Incisional Biopsies, Excisional Biopsies
2) By Liquid Biopsies: Circulating Tumor Cell (CTC) Analysis, Circulating Tumor DNA (ctDNA) Testing, Plasma Biomarker Testing
3) By Other Types: Bone Biopsies, Endoscopic Biopsies, Brush Biopsies, Skin Biopsies
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What Emerging Trends Are Influencing The Growth Of The Cancer Biopsy Market?
Leading firms in the cancer biopsy market are advancing in the development of liquid biopsy methods to facilitate non-invasive, early cancer identification and tracking, enhance patient survival rates, and permit more tailored treatment plans. Liquid biopsy is a sophisticated, non-invasive test that identifies and examines genetic matter from a blood specimen, including circulating tumor DNA (ctDNA), RNA, exosomes, and other biomarkers. For example, in May 2023, Labcorp, an American company that excels in the production of cancer biopsies, rolled out Labcorp Plasma Focus, a plasma-centric liquid biopsy to identify cancer-linked biomarkers. The Plasma Focus examination scrutinizes the circulating cell-free DNA (cfDNA) emitted from tumor cells into the circulatory system and can assemble a genomic sketch of the patient's tumor, pinpointing mutations across 33 genes linked with several types of cancer, such as non-small cell lung cancer, colorectal cancer, breast cancer, esophageal cancer, and melanoma.
Who Are the Key Players In The Cancer Biopsy Market?
Major companies operating in the cancer biopsy market are:
• Thermo Fisher Scientific Inc.
• Danaher Corporation
• Becton Dickinson and Company
• Roche Diagnostics GmbH
• Hologic Inc.
• Illumina Inc.
• Bio-Rad Laboratories Inc.
• QIAGEN N.V.
• Exact Sciences Corporation
• Myriad Genetics Inc.
• Guardant Health Inc.
• Veracyte Inc.
• GRAIL Inc.
• Freenome Holdings Inc.
• Biodesix Inc.
• Chronix Biomedical Inc.
• Biocept Inc.
• Personal Genome Diagnostics Inc.
• Agena Bioscience Inc.
• Oncimmune Holdings plc
• Exosome Diagnostics Inc.
• Epigenomics AG
• Genesystems Inc.
• Lucence Diagnostics Pte. Ltd.
• ANGLE plc
What Are The Regional Insights Into The Cancer Biopsy Market?
North America was the largest region in the cancer biopsy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cancer biopsy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
