Global Cancer Biopsy Industry Geared for Phenomenal 18% CAGR Growth, Anticipating a Whopping US$131.4 Billion Milestone by 2033 | FMI

The Global Cancer Biopsy Industry is set to witness unprecedented growth, with revenues estimated at US$ 22.2 billion in 2022, and a projected Compound Annual Growth Rate (CAGR) of 18% from 2023 to 2033. These findings are revealed in the latest report published by Future Market Insights.

The comprehensive report highlights the robust trajectory of the Cancer Biopsy Market, indicating that by the end of 2033, it is expected to achieve a remarkable valuation of US$ 131.4 billion. This exceptional growth is attributed to several factors driving innovation and advancements in cancer diagnostics.

The aging global population, coupled with an escalating number of cancer diagnoses, is identified as a significant catalyst propelling the expansion of the cancer clinical market. Moreover, the market is witnessing a surge in demand due to the effective and cost-efficient utilization of liquid biopsy procedures, along with a notable increase in biopsy appointments.

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The IARC estimates that by 2020 the worldwide burden of disease due to cancer is projected to be 19.3 million cases and 9.96 million deaths worldwide. A liquid biopsy entails reduced expense, earlier prognosis, therapy surveillance, identification of tumor heterogeneity, acquired drug resistance, and patient comfort compared to conventional diagnostic tools for handling cancer.

Competitive Analysis

Key companies are helping to drive market expansion by diversifying their diagnostics portfolios and increasing the adoption of their own biopsy tools.

Key recent developments of key players in the Cancer Biopsy Market are as follows:

• In March 2021, in Russia, KIllumina, Inc. received medical device approval for their NextSeq 550Dx platform and related reagent kits. Before this registration, the MiSeq Dx had already been approved as a medical device.
• In March 2021, Autopsy with Quick-Core IZI Medical Products introduced a system for soft tissue biopsy procedures. This fully automated product is based on Quick-Core, the company’s patented semi-automatic method.

Competitive Landscape

Key companies are helping to drive market expansion by diversifying their diagnostics portfolios and increasing the adoption of their own biopsy tools.

• In March 2021, In Russia, KIllumina, Inc. has received medical device approval for their NextSeq 550Dx platform and related reagent kits. Before this registration, the MiSeq Dx had already been approved as a medical device.
• In March 2021, Autopsy with a Quick-Core IZI Medical Products has introduced a system for soft tissue biopsy procedures. This fully automated product is based on Quick-Core, the company’s patented semi-automatic method.
• In April 2021, Plasma-SeqSensei liquid biopsy research use only (RUO) kits were introduced in EMEA by Sysmex Europe GmbH and Sysmex Inostics GmbH.

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More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Cancer Biopsy Market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.

The study reveals essential insights based on by Type (Tissue Biopsies, Liquid biopsies, Other Types), by Product Type (Instruments, Kits and Consumables, Services), by Application (Breast Cancer, Colorectal Cancer, Cervical Cancers, Lung Cancers, Prostate Cancers, Skin Cancers, Blood Cancers, Kidney Cancers, Liver Cancers, Pancreatic Cancers, Ovarian Cancers, Other Applications) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

Market Segments Covered in Cancer Biopsy Industry Analysis

By Type:

• Tissue Biopsies
  • Needle Biopsies
  • Surgical Biopsies
• Liquid Biopsies
• Other Types

By Product Type:

• Instruments
• Kits and Consumables
• Services

By Application:

• Breast Cancer
• Colorectal Cancer
• Cervical Cancers
• Lung Cancers
• Prostate Cancers
• Skin Cancers
• Blood Cancers
• Kidney Cancers
• Liver Cancers
• Pancreatic Cancers
• Ovarian Cancers
• Other Applications

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel and End Use over the next 10-years.

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