CANCER BIOPSY MARKET ANALYSIS

Cancer Biopsy MarketSize and Trends

The global cancer biopsy market was valued at US$ 22.86 Bn in 2022 and is forecast to reach a value of US$ 67.11 Bn by 2030 at a CAGR of 14.7% between 2023 and 2030. The global cancer biopsy market is experiencing strong growth due to the increasing awareness among people about cancer and advent of liquid biopsy. Moreover, rise in burden of cancer and growing geriatric population around the world is expected to boost the growth of the market. However, factors such as high cost of diagnosis and technical and clinical challenges are expected to hamper the growth of the global cancer biopsy market.

Global Cancer Biopsy Market Trends:

Increasing adoption of liquid biopsies is a recent trend

Liquid biopsies help clarify the characteristics of cancer by identifying tumor cells or tumor DNA released into the blood by the growth and/or apoptosis of cancer cells. Currently, liquid biopsies are commonly used to identify specific genetic changes in people with non-small cell lung cancer (NSCLC). They are also being studied and used for other types of cancer, including breast cancer, ovarian cancer, and prostate cancer. Thus, the use or adoption of liquid biopsies is also increasing, and this trend is expected to continue over the forecast period.

Introduction of novel technologies is another trend

Novel diagnostic and therapeutic oncology technologies are penetrating not only across benchtop settings but are also gaining significant demand in clinics. Several novel diagnostic technologies have ability to transform oncology diagnostic and treatment. This has caught attention of several care providers, regulators, and manufacturers, increasing investments in this area. This offers huge opportunity for cancer biopsy manufacturers to establish their market presence as a need for safe and effective management of cancer burden becomes imperative.