Cancer Biopsy Market Size & Growth Analysis to 2030

The global cancer biopsy market size is anticipated to register a significant CAGR of over 6% during the forecast period 2021 to 2027 and was estimated at around USD 20 billion in 2020. The increasing prevalence of cancer and the rising awareness regarding early detection of cancer are some major factors driving the market growth. The technological advancement in molecular medicine has improved the classification of cancer which is further expected to drive the market. The advancement in image-guided biopsies and their increasing applications are some key trends in the market. In addition, the increasing investment in research & development is anticipated to uplift the market growth over the forecast period.

Market Drivers:

Increasing cancer prevalence: Cancer remains a significant global health concern, with the number of cancer cases continuing to rise. The growing prevalence of various types of cancer creates a substantial demand for cancer diagnostics, including biopsies. Biopsies are crucial for confirming cancer diagnosis, determining tumor characteristics, and guiding personalized treatment strategies, driving the demand for cancer biopsy procedures.

Advancements in diagnostic technologies: The field of cancer diagnostics has witnessed significant advancements in recent years. Technologies such as liquid biopsy, image-guided biopsies, molecular profiling, and minimally invasive biopsy techniques have improved the accuracy and efficiency of cancer diagnosis. These advancements have led to increased detection rates, early diagnosis, and improved patient outcomes, fueling the demand for cancer biopsies.

Emphasis on personalized medicine: Personalized medicine aims to tailor medical treatments to individual patients based on their specific genetic characteristics and disease profiles. Cancer biopsies provide critical information about the molecular and genetic makeup of tumors, helping clinicians identify specific biomarkers and genetic mutations that can guide targeted therapies. The growing emphasis on personalized medicine drives the need for cancer biopsies to inform treatment decisions.

Rising demand for minimally invasive procedures: Minimally invasive biopsy techniques, such as core needle biopsies and endoscopic biopsies, offer several advantages over traditional surgical biopsies. These techniques are less invasive, result in minimal scarring, and often have shorter recovery times. Patients and healthcare providers alike are increasingly opting for minimally invasive biopsy procedures, leading to their growing adoption and driving the cancer biopsy market.

Technological advancements in imaging and guidance systems: The integration of advanced imaging technologies, such as ultrasound, computed tomography (CT), magnetic resonance imaging (MRI), and positron emission tomography (PET), with biopsy procedures has improved the accuracy and precision of cancer biopsies. Real-time imaging and guidance systems enable physicians to target specific areas for biopsy, reducing the risk of sampling errors and improving diagnostic outcomes. Technological advancements in imaging and guidance systems contribute to the growth of the cancer biopsy market.

Growing awareness and screening initiatives: Increased awareness about cancer, early detection, and the importance of timely diagnosis has led to the implementation of various cancer screening programs and initiatives. These initiatives aim to detect cancer at its earliest stages when treatment outcomes are generally more favorable. Biopsies play a crucial role in confirming suspicious findings from screening tests and aiding in the early diagnosis of cancer, driving the demand for cancer biopsies.

Collaborations and partnerships in cancer research: Collaborations between academic institutions, research organizations, and healthcare providers have accelerated cancer research efforts. These collaborations often involve the collection and analysis of cancer tissue samples through biopsies. The sharing of resources, expertise, and data has resulted in advancements in cancer research, leading to the increased demand for cancer biopsies.

Reimbursement policies and insurance coverage: Adequate reimbursement policies and insurance coverage for cancer biopsy procedures have a significant impact on the market. Favorable reimbursement policies ensure that patients have access to necessary diagnostic procedures, including biopsies, without significant financial burden. The availability of insurance coverage for cancer biopsies encourages early diagnosis, facilitates appropriate treatment planning, and drives the growth of the cancer biopsy market.

Market Outlook:

Market Insights:

The global cancer biopsy market is bifurcated into type, product, application, and geography. On the basis of product, the market is further segmented into instruments, kits and consumables, and services. The kits & consumables segment dominated the market in 2020 and accounted to hold the largest market share of around two-third share of the market. The large investment by some major players is a key factor to drive the segment growth. Furthermore, the manufacturers are focusing to launch advanced products to enhance biopsy which is further expected to boost the segment growth over the forecast period.

Based on the application, the market is segmented into breast cancer, colorectal cancer, cervical cancers, lung cancers, prostate cancers, skin cancers, and other cancers. The breast cancer segment dominated the global cancer biopsy market in 202 and held the largest revenue share of around 15% of the market. As per latest information shared by World Health Organization (WHO), 2.3 million women were diagnosed with breast cancer in 2020 and 685,000 death were recorded due to breast cancer globally.

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The cancer biopsy comprehensive study offers an in-depth analysis of industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The cancer biopsy market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Product:

• Instruments
• 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

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage:

Geographically, North America dominated the global cancer biopsy market in 2020 and estimated to hold the largest market share of over one-third share of the market in terms of revenue. As per the American Cancer Society, it is estimated that 1.9 million new cancer cases will be diagnosed and in 2021 and 608,570 people will die due to cancer disease. The increasing adoption of liquid biopsies and supportive regulatory strategies is expected to drive market growth in the region. Furthermore, the presence of some major players and the increasing investment by manufacturers is projected to boost the market growth in North America.

Market Competition Assessment:

Some of the major players operating in the global cancer biopsy market are Becton, Dickinson And Company, Qiagen N.V., Illumina, Inc., ANGLE Plc, and Myriad Genetics. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• Becton, Dickinson And Company
• Qiagen N.V.
• Illumina, Inc.
• ANGLE Plc
• Myriad Genetics
• Thermo Fisher Scientific, Inc.
• Hologic, Inc.
• Biocept, Inc.
• Danaher
• Hoffmann-La Roche Ltd.

Key Questions Answered by Cancer Biopsy Market Report

• Global cancer biopsy market forecasts from 2021-2027
• Regional cancer biopsy market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
• Cancer biopsy submarket forecasts from 2021-2027 covering the market by type, by product, by application, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis pertaining to the cancer biopsy market
• Analysis of the key factors driving and restraining the growth of the global, regional and country-level cancer biopsy markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the cancer biopsy market