The Global Cancer Biopsy Industry is on track for a remarkable surge, fueled by advancements in cancer diagnosis. According to a new report by Future Market Insights (FMI), the market reached an estimated value of US$22.2 billion in 2022 and is projected to soar at a staggering Compound Annual Growth Rate (CAGR) of 18% from 2023 to 2033. This phenomenal growth trajectory is expected to propel the market to a value of US$131.4 billion by 2033.
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 Global Cancer Biopsy Industry 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.
Global Cancer Biopsy Industry 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. 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.
- In April 2021, Plasma-SeqSensei liquid biopsy research use-only (RUO) kits were introduced in EMEA by Sysmex Europe GmbH and Sysmex Inostics GmbH.
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).
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Segments Covered in Global 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
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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