Cancer Biopsy Market Size to Surpass US$ 66.1 Billion by 2030

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Ottawa, Feb. 04, 2022 (GLOBE NEWSWIRE) — The global cancer biopsy market size was estimated at US$ 23 billion in 2020. The most common way for doctors to diagnose cancer is through a biopsy. Other tests can indicate the presence of cancer, but only a biopsy can confirm the diagnosis. A biopsy is a procedure in which a doctor takes a small piece of tissue for examination under a microscope. However, obtaining a tissue sample may necessitate surgery or another operation. The sort of biopsy one undergoes is determined by the location of the suspected tumor. The rising incidence and prevalence of cancer, as well as the growing desire for non-invasive treatment approaches, are driving the growth of the cancer biopsy market during the forecast period.

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The results of biopsy can be used by doctors to decide a patient’s treatment plan. These benefits are bolstering vendors’ efforts to provide patients with lung cancer with a customized treatment plan. The personalized medicine ensures that medications are targeted and actionable. During the forecast period, one of the important aspects likely to have favorable impact on the cancer biopsy market is the use of liquid biopsy for personalized treatment. However, due to tissue biopsy constraints, cancer misdiagnosis, delayed diagnosis, and insufficient tumor sampling are all common.

Report Coverage

Report Highlights Details
Market Size by 2030 US$ 66.1 Billion
Growth Rate from 2021 to 2030 17.6%  
Fastest Growing Region Asia Pacific
Largest Revenue Holder North America
Base Year 2021  
Companies Covered Myriad Genetics Inc., Bio-Rad Laboratories Inc., Guardant Health Inc., Exact Sciences Corporation, Exosome Diagnostics Inc., Agena Bioscience Inc., Personal Genome Diagnostics Inc., ANGLE Plc., F. Hoffmann-La Roche Ltd.

Report Highlights

  • Based on the type, the tissue biopsy segment dominated the global cancer biopsy market in 2020 with highest market share. Tissue biopsies are commonly used to diagnose cancer, but they can also be used to diagnosis infections, autoimmune illnesses, and inflammatory diseases.
  • Kits and consumables accounted for the biggest revenue share by product in 2020. Due to the considerable movement from tumor to liquid biopsy, the use of kits and consumables is projected to expand at rapid pace.
  • Breast cancer dominated the global cancer biopsy market in terms of application in 2020, and it is expected to continue to do so throughout the forecast period. A reference standard for the examination of patients with a suspicious breast lesion is an open surgical biopsy.

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Regional Snapshot

North America is the largest segment for cancer biopsy market in terms of region. The wide availability of technologically advanced instruments, highly developed healthcare systems in the U.S. and Canada, and the existence of numerous prominent national clinical laboratories account for the considerable proportion of this regional segment.

Asia-Pacific region is the fastest growing region in the cancer biopsy market. The regional expansion will be aided by increased cancer incidence, faster adoption of advanced methods, and highly upgraded infrastructure. The segment will also see exceptional development potential as the need for non-invasive illness detection grows, and the key market players continue to launch new products with a strong focus on research and development.

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Market Dynamics

Drivers

Increasing significance of companion diagnostics

The companion diagnostics are tests that help doctors make treatment decisions for patients based on their response to therapy. The foundation of companion diagnostics with therapeutic goods has the potential to radically modify the drug development process and commercialize drug candidates by swiftly and cost-effectively delivering safer medications with improved therapeutic efficacy. The market for companion diagnostics has a lot of growth opportunities because of the rising need for high priced specialist therapies and safer medications. Thus, the increasing significance of companion diagnosis is propelling the growth of the global cancer biopsy market during the forecast period.

Restraints

Unclear reimbursement scenarios

The process of paying for expensive molecular testing, as well as the expertise of the various professionals needed to interpret test results and establish treatment programs, is inefficient and complicated. This is especially true in the case of emerging technologies with bigger price tags, such as liquid biopsy. Thus, this factor is restricting the market growth.

Opportunities

Rising prevalence of various cancers

There has been a huge increase in the number of people diagnosed with cancer around the world. The environmental causes, infectious agents such as Hepatitis B and C, cigarette consumption, and lifestyle changes are all contributing to the increased cancer prevalence. The reduced cost, therapy monitoring, early prognosis, detection of tumor heterogeneity, patient comfort, and acquired drug resistance are all advantages of biopsy over standard cancer diagnostics approaches. As a result, the rising prevalence of various types of cancers is creating lucrative opportunities for the growth of the global cancer biopsy market during the forecast period.

Challenges

Limitations to the biopsy process

The amount of tissue retrieved from a needle biopsy may not be sufficient in some situations, and the biopsy may need to be repeated. Less invasive breast biopsy methods may occasionally fail to detect lesions or determine the extent of illness. The surgical biopsy is frequently required if the diagnosis remains questionable following a technically effective treatment. Thus, the limitations of the biopsy process are creating obstacles for the growth of the cancer biopsy market.

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Segments Covered in the Report

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 Cancer
  • Lung Cancer
  • Prostate Cancer
  • Skin Cancer
  • Blood Cancer
  • Kidney Cancer
  • Liver Cancer
  • Pancreatic Cancer
  • Ovarian Cancer
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

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Cancer Biopsy Market Size to Surpass US$ 66.1 Billion by 2030

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