Global Cancer Biopsy Industry Poised for Explosive Growth at 18% CAGR, Reaching US$131.4 Billion by 2033 | FMI Study Report

Posted on 2024-05-23 by Future Market Insights in Healthcare, Pharmaceuticals // 0 Comments

Global Cancer Biopsy Industry

The Global Cancer Biopsy Industry is on track for a remarkable surge, fueled by the increasing demand for accurate and early cancer diagnosis. According to a recent report by Future Market Insights (FMI), a leading market research firm, the market is expected to experience a stellar Compound Annual Growth Rate (CAGR) of 18% from 2023 to 2033. This translates to a projected market value of US$131.4 billion by 2033, a significant increase from the US$22.2 billion valuation recorded in 2022.

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.

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.

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Global Cancer Biopsy Industry Competitive Analysis

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.

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 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 soft tissue biopsy procedure system. 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

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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