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Breast Biopsy is Fastest Growing Segment fueling the Growth of Cancer Biopsy Market

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Gauri Cmi
Breast Biopsy is Fastest Growing Segment fueling the Growth of Cancer Biopsy Market


The global Cancer Biopsy Market is estimated to be valued at US$ 25.61 Bn in 2023 and is expected to exhibit a CAGR of 14.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Cancer biopsy is a medical procedure that involves extracting samples of suspicious tissues for examination and testing under a microscope. It helps in the diagnosis of cancer by identifying cancerous (malignant) or precancerous (non-malignant) cells. The market has witnessed significant growth due to the growing prevalence of cancer and rising awareness about early detection of cancer.

Market key trends:

One of the key trends in the cancer biopsy market is the introduction of liquid biopsy. Liquid biopsy is a non-invasive blood-based test that analyzes circulating tumor cells, circulating tumor DNA, and exosomes to detect cancer at early stages. It provides key insights like tumor mutations without the need for surgery. This new technology enables personalized treatment options and monitors treatment effectiveness over time. It is gaining popularity as it is less invasive and easy to conduct for cancers that are difficult to biopsy such as lung cancer and ovarian cancer.

Segment Analysis

The global cancer biopsy market is segmented based on technique, application, end user, and region. Based on technique, the market is segmented into needle biopsy, surgical biopsy, and curettage biopsy. The needle biopsy segment accounted for the largest market share in 2022, owing to its minimally invasive nature, improved targeting capabilities, and wider adoption. The surgical biopsy segment is expected to witness high growth during the forecast period due to increasing preference for surgical methods for lung, breast, and prostate cancer diagnosis.

Key Takeaways

The Global Cancer Biopsy Market Growth is expected to witness high growth, exhibiting a CAGR of 14% over the forecast period, due to increasing incidences of cancer and growing preference for minimally invasive biopsy procedures.

By region, North America dominated the global market in 2022 and is expected to maintain its dominance during the forecast period owing to the growing demand for advanced cancer diagnostic techniques, availability of funding for cancer research, and rising cancer incidence in the US and Canada. Asia Pacific is anticipated to exhibit the fastest growth during the forecast period due to improving healthcare infrastructure, increasing healthcare expenditures, rising awareness about cancer diagnosis, and expansion of private hospitals & diagnostic centers in countries such as India and China.

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. Major players are focusing on new product launches, expansions, mergers & acquisitions, and collaborations to gain a competitive edge in the market. For instance, in November 2021, QIAGEN launched a liquid biopsy diagnostic assay QuantiFERON-TB Gold Plus for tuberculosis testing in blood samples to expand its footprints in the cancer biopsy market.

 

Get More Insights On This Topic: https://www.pressreleasebulletin.com/cancer-biopsy-market-demand/


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