Cancer Biopsy Market To Forsee Commendable Growth, Based On Increasing Adoption And Product Approvals For Liquid Biopsies

 

Cancer Biopsy Industry Overview

 

The global cancer biopsy market size is expected to reach USD 44.51 billion by 2027, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 11.13% from 2021 to 2027. The expanding landscape of molecular medicine paved the way for the development of new devices for the molecular characterization of cancers. Thus, increasing adoption and product approvals for liquid biopsies are expected to drive the overall market.

 

Cancer Biopsy Market Segmentation

Grand View Research has segmented the global cancer biopsy market on the basis of product, type, application, and region:

 

Based on the Product Insights, the market is segmented into Instruments, Kits and Consumables, Services.

• Kits and consumables accounted for the largest revenue share of over 60.0% in 2020 as these are integral across various stages of biopsies.
• The segment growth can also be attributed to a considerable increase in the number of patients across the globe that demand instruments and kits to be efficient, accurate, and rapid.
• Cancer biopsy has witnessed several developments in terms of instruments, kits, and consumables. With liquid biopsy emerging as a multimodal tool of diagnosis in the field of clinical oncology, the development of efficient products associated with biopsies is pivotal.
• Several emerging manufacturers are focusing on launching instruments that are able to enhance endoscopy-based biopsies. For instance, BiBB Instruments AB, a Swedish company, has established a strong presence in the instruments market space under the brand – Endo Drill.

 

Based on the Application Insights, the market is segmented into Breast Cancer, Colorectal Cancer, Cervical Cancers, Lung Cancers, Prostate Cancers, Skin Cancers, Blood Cancers, Kidney Cancers, Liver Cancers, Pancreatic Cancers, Ovarian Cancers, Others.

• Breast biopsy held the largest share of over 14.0% in 2020. Breast cancer has the largest prevalence rate. Around 1 in 8 U.S. women develop invasive breast cancer as per the U.S. breast cancer statistics.
• The rising number of patients suspected of having breast cancer is subjected to microscopic analysis of breast tissue, which is mandatory to obtain a definitive diagnosis, along with detecting the stage and characterization of type.
• Circulating tumor cells(CTC)-based liquid biopsies have the ability to track the minimal residual disease (MRD) in non-metastatic prostate cancer patients, along with the follow-up evaluations performed to offer independent prognostic insights.
• A novel European project, Transcan-PROLIPSY is designed to assess the potential of combined use of CTCs, exosomes, and ctDNA as a noninvasive liquid biopsy modality to diagnose prostate cancer followed by its routine evaluation.

 

Based on the Type Insights, the market is segmented into Tissue Biopsies, Liquid Biopsies, Others.

• Tissue biopsy accounted for the largest revenue share of over 80.0% in 2020. It is still considered to be a mainstay of biopsies and is largely adopted across various cancer diagnosis applications. This is attributed to robust research activities evaluating its safety and efficacy, which has contributed to this segment growth.
• Advancements targeted towards enhancing tissue biopsy procedures are expected to maintain the lead of the tissue biopsy segment for the next few years. For instance, Cernostics is developing an assay suitable for diagnosing cancer patients suffering from Barrett's Esophagus.
• The rising preference for liquid biopsy among physicians has been observed in recent years, which is supplemented by its ability to offer disease snapshots from the primary and distant tumor sites.

 

Cancer Biopsy Regional Outlook

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

 

Key Companies Profile & Market Share Insights

Key players are contributing to market growth by expanding their diagnostics portfolio, further enhancing the uptake of their proprietary biopsy products. For instance, in March 2021, Illumina, Inc. announced medical device registration for its NextSeq 550Dx platform and associated reagent kits in Russia.

Some prominent players in the global cancer biopsy market include

• Qiagen N.V.
• Illumina, Inc.
• ANGLE Plc
• BD (Becton, Dickinson and Company)
• Myriad Genetics
• Hologic, Inc.
• Biocept, Inc.
• Thermo Fisher Scientific, Inc.
• Danaher
• Hoffmann-La Roche Ltd.
• Lucence Diagnostics Pte. Ltd.
• GRAIL, Inc.
• Guardant Health
• Exact Sciences Corporation
• Freenome Holdings, Inc.
• Biodesix (Integrated Diagnostics)
• Oncimmune
• Epigenomics AG
• HelioHealth (Laboratory for Advanced Medicine)
• Genesystems, Inc. (Genesys Biolabs)
• Chronix Biomedical, Inc.
• Personal Genome Diagnostics Inc.
• Natera, Inc.
• Personalis Inc.

 

Order a free sample PDF of the Cancer Biopsy Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.