Global Cancer Biopsy Market Overview
The key driver impacting the cancer biopsy market is the growing prevalence of cancer across the globe. Thus, it creates more demand for cancer biopsies and tissue sectioning as it assists doctors to get significant information concerning oncological molecular profiling. For instance, According to a WHO report, Globally, cancer is the second leading cause of death and accounts for 9.6 million deaths in 2018. For instance, According to a WHO report, Globally, cancer is the second leading cause of death and accounts for 9.6 million deaths in 2018. There are 1 in 6 deaths that take place due to cancer. The most common cancers are Breast cancer (2.09 million cases), Lung cancer(2.09 million cases), Colorectal (1.80 million cases), and Prostate (1.28 million cases).
Moreover, the several benefits provided by fine-needle aspiration (FNA) type needle biopsies, such as minimal incision on the skin, and shorter wait time for the results, is also estimated to be a significant determinant that adds growth to the market.
According to Value Market Research, the global cancer biopsy market was valued at around USD 20 billion in 2019 and is estimated to grow at a CAGR of about 6.25% during the forecast period of 2020-2026.
In addition to this, the evolution of novel oncology diagnostics from bench to clinics is also predictable to enhance market growth under the forecast period.
However, the high risks associated with biopsy procedures may hamper the global cancer biopsy industry in the long run. The current industry trend, such as the series of advancements in image-guided biopsies and its expanding applications, is expected to create new market opportunities for the key players in the coming years.
The Cancer biopsy market is vast, with a large number of local and global players. The key leaders follow different strategies to improve their market position, such as mergers, expansions, acquisitions, and product innovations to augment their market share across the world. For instance, in February 2020, Qiagen received CE Mark for its mutation assay named rascreen PIK3CA RGQ PCR kit, which is developed to detect breast cancer patients with PIK3CA mutation. The key players included in the report are Qiagen N.V., GRAIL, Inc, Illumina, Inc., ANGLE Plc, BD (Becton, Dickinson And Company), Myriad Genetics, Hologic, Inc., Biocept, Inc., Thermo Fisher Scientific, Inc., Danaher, F. Hoffmann-La Roche Ltd., Lucence Diagnostics Pte. Ltd., Guardant Health, Exact Sciences Corporation, Biodesix (Integrated Diagnostics), Freenome Holdings, Inc.
In this research report, the cancer biopsy market is segmented by product, type, application, and region.
Analysis by Product:
By product, the report is categorized into Instruments, Kits & Consumables, Services. The Kits & Consumables segment dominates the product type segment in 2019, with a 60% market share. It is essential across various stages of biopsies, and growing developments in terms of kits and consumables are certain factors driving the product segment of the cancer biopsy market in the forecast period. Moreover, the rising investment by key players in developing highly accurate and effective kits is also adding growth to the kits & consumables segment across the forecast period.
Analysis by Type:
By type, the report is categorized into tissue biopsies(needle biopsies, fine needle aspiration (FNA), Core needle biopsy (CNB), Surgical Biopsies), liquid biopsies, and others. Tissue biopsies dominate the type segment in 2019 with a maximum market share of 80%. It is due to the extensive adoption across various cancer diagnosis applications as it is the safest and highly effective biopsy procedure, thus expected to drive demand in the forecast period. Moreover, the rising technological advancement to enhance tissue biopsy procedures contributes to the increasing demand in the forecast period.
Analysis by Application:
By application, the report is categorized into breast cancer, colorectal cancer, cervical cancers, lung cancers, prostate cancers, skin cancers, blood cancers, kidney cancers, liver cancers, pancreatic cancers, ovarian cancers, and others. The breast cancer segment is accounted for the largest share of 15% in 2019. It is due to the growing prevalence of breast cancer across the globe. According to the U.S. breast cancer statistics, there are 1 in 8 U.S. women (about 12%) build up invasive breast cancer throughout their lifetime. In 2020, around 276,480 invasive breast cancer new cases are estimated to be diagnosed in U.S. women together with over 48,530 new non-invasive (in situ) breast cancer cases. Moreover, the growing need for microscopic analysis of breast tissue to get,t definitive diagnosis together with detection of the stage and characterization of type in patients is expected to create more demand for cancer biopsy in breast cancer application in the forecast period.
Analysis by Region:
In the regional outlook of the global cancer biopsy market, the North America region shows considerable growth in the forecast period. It is expected to show massive growth due to the increasing adoption of liquid biopsies and favorable policies made by regulatory authorities across the U.S. Moreover, the growing focus of manufacturers operating in this region to develop novel kits that are compatible for rapid diagnostic applications contributes to the growth of the cancer biopsy market across North America.
Market Segmentation covered in the Report:
- Kits and Consumables
- Tissue Biopsies( Needle Biopsies, Fine Needle Aspiration (FNA), Core Needle Biopsy (CNB), Surgical Biopsies)
- Liquid Biopsies
- Breast Cancer
- Colorectal Cancer
- Cervical Cancers
- Lung Cancers
- Prostate Cancers
- Skin Cancers
- Blood Cancers
- Kidney Cancers
- Liver Cancers
- Pancreatic Cancers
- Ovarian Cancers
- North America
- the Asia Pacific
- Latin America
- The Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.