Report Overview
Global Cancer Biopsy Market size is expected to be worth around USD 75.1 Billion by 2033 from USD 26.2 Billion in 2023, growing at a CAGR of 11.1% during the forecast period from 2024 to 2033.
The growing prevalence of cancer across various age groups throughout the world is anticipated to boost the market during the forecast period. The unhealthy habits associated with the modern lifestyle are one of the primary causes of the rampant growth of cancer. Factors such as regular consumption of highly processed food, low vegetable and fruit intake, smoking, and regular alcohol consumption are some of the prominent aspects. Excess weight gain is also associated with a high risk of cancers, including breast cancer, colorectal cancer, and kidney cancer.
According to the data from Cancer Research UK, obesity and overweight can cause 13 different types of cancer. A report from the National Institute of Cancer states that genetic factors are also responsible for the occurrence of cancer. Additionally, increasing advancements in biopsy techniques in recent years are also projected to impel the market in the coming period.
- According to the report published by the World Health Organization in February 2024, approximately 20 million cases of cancer emerged in 2022, resulting in 9.7 million deaths. It is estimated that around 1 in 5 people suffer from cancer in their lifetime. It is estimated that roughly 1 out of 9 men and 1 out of 12 women die due to this disease.
Key Takeaways
- Market Size: Cancer Biopsy Market size is expected to be worth around USD 75.1 Billion by 2033 from USD 26.2 Billion in 2023.
- Market Growth: The market growing at a CAGR of 11.1% during the forecast period from 2024 to 2033.
- Product Analysis: concerning product segment, the market is segregated into instruments, kits & consumables, and services. The kits & consumables sector stands out as the dominant player, holding the largest revenue share of 63% in the cancer biopsy market.
- Type Analysis: The type segment is divided into tissue biopsy, liquid biopsy, and others, with tissue biopsy taking the lead in 2023 with a market share of 64%.
- Application Analysis: Considering application, the market is divided into breast cancer, colorectal cancer, lung cancer, prostate cancer, blood cancer, skin cancer, kidney cancer, liver cancer, pancreatic cancer, and others. Among these, breast cancer held a significant share of 18%.
- Regional Analysis: North America dominated the market with the highest revenue share of 42%.
- Technological Advancements: Innovations in biopsy techniques, including liquid biopsy and next-generation sequencing, are driving market expansion.
- Early Diagnosis: Growing emphasis on early cancer detection is fueling the need for efficient and accurate biopsy procedures.
- Government Initiatives: Supportive government policies and funding for cancer research are contributing to market growth.
By Type Analysis
The tissue biopsy segment led the market in 2023, by claiming a market share of 64% owing to the fact that it is considered to be the primary biopsy method and is therefore, highly adopted for most cancer diagnosis applications. Several advancements have been made in recent years toward the enhancement of tissue biopsy procedures. Tissue biopsy is considered irreplaceable by healthcare professionals as it not only helps identify the type of cancer but also several vital factors, including the nature of tumors, the presence of any treatment-resistant mutations, and the tumor’s gene expression. Consequently, this segment is projected to have substantial growth in the coming years as well.
The liquid biopsy segment is projected to have significant propulsion in the forecast period as a preferential trend has been observed among physicians toward this type of biopsy due to its ability to provide disease snapshots from the tumor sites. Furthermore, this approach is also being used in personalized medicine treatments, where repeated sampling of tumor markers is done to modify the therapy based on the patient’s response to the treatment.
By Application Analysis
Breast cancer held a significant share of 18% due to its highest prevalence rate. The primary reasons for breast cancer include regular smoking and alcohol consumption, high density of breast tissues, inherited mutations in the BRCA1, BRCA 2, and CHEK2 genes, and increasing age, among others. According to the data from breastcancer.org, it is estimated that around 13% of women in the United States are likely to acquire invasive breast cancer at some point in their life. This roughly equates to about one out of eight women.
By Product Analysis
The kits & consumables segment had a tremendous growth rate, with a revenue share of 63% as they are an integral part of biopsies across all stages. Numerous major key players have made substantial investments in the advancement of kits & consumables through research and development. With the growing prevalence of cancer all across the globe, there has been a significant increment in the demand for these kits & consumables due to their efficiency and accuracy.
Key Market Segments
By Product
- Instruments
- Kits & Consumables
- Services
By Type
- Tissue Biopsy
- Needle Biopsy
- Surgical Biopsy
- Liquid Biopsy
- Others
By Application
- Breast Cancer
- Colorectal Cancer
- Lung Cancer
- Prostate Cancer
- Blood Cancer
- Skin Cancer
- Kidney Cancer
- Liver Cancer
- Pancreatic Cancer
- Others
Drivers
Rising Prevalence of Cancer
The surge in the number of cancer patients across the globe is projected to boost the market during the assessment period. Factors such as unhealthy eating habits associated with the modern lifestyle, lack of exercise, chain-smoking, and excessive alcohol intake can lead to a high risk of getting cancer. This in turn fuels the need for cancer biopsies as a means of diagnosis for the disease among cancer patients. The increase in the incidents of obesity and poor eating habits is also fueling the cancer biopsy market.
Furthermore, the shift in lifestyle has also led to exposure to various environmental carcinogens, including excessive pollution and UV radiation. This increases the requirement for cancer biopsies, thereby propelling the market.
- As per the National Cancer Institute’s update in 2022, approximately 83,730 new cases of bladder cancer were reported in 2021 in the US, along with 284,200 cases of breast cancer and 149,500 cases of colon and rectal cancer.
Restraints
Limited Awareness of Inherited Oncology Disorders
Limited awareness regarding the inherited genetic disorders related to cancer significantly hampers the demand for cancer biopsies. This leads to delays in the diagnosis, impeding the effectiveness of cancer biopsies and negatively impacting the outcome for patients.
Furthermore, the absence of awareness also prevents the use of new biopsy technologies, which in turn limits the growth of the market. It also leads to inadequate use of cancer screening programs, thereby restraining access to proper cancer care.
Opportunities
Use of AI and Digital Pathology
The use of AI and digital pathology is anticipated to create profitable projections for the market. AI algorithms improve image analysis in pathology, leading to better results in less time. Identification of malignant or uncommon forms of cancer using AI technology can significantly enhance the outcome of the treatment.
Furthermore, the use of machine learning can help in finding new biomarkers for assigning patients to individual treatments. The use of AI can also help in identifying high-risk patients and the probability of cancer reoccurrence. These factors are likely to provide substantial growth opportunities for the market.
- As per the report published by the National Institute of Health in 2021, an independent study conducted by six radiologists, the area under the curve (AUC) for the AI-based system was higher by 11.5% in comparison to the average AUC achieved by these radiologists. This AI system could generalize multicenter data from the training data. For reference, a higher AUC means better performance in differentiating between the two classes.
Impact of Macroeconomic / Geopolitical Factors
Macroeconomic and geopolitical factors have a significant influence on the cancer biopsy market, determining its growth. Economic conditions such as recession lead to a reduction in overall healthcare expenditure, thereby hampering the market. Political instabilities and trade wars create issues in supply chain management.
However, there has been an increase in healthcare expenditure in emerging economies, which is likely to boost the market. Government funding and initiatives for cancer research in these regions promote market growth.
- According to a recent survey, in 2024, the government of India allocated an interim budget of almost one trillion Indian rupees (US$ 11.9 billion) focusing on plans for universal health coverage such as healthcare infrastructure, medical education, and the pharmaceutical industry.
Latest Trends
Introduction of liquid biopsy
The introduction of liquid biopsy is expected to create lucrative growth opportunities for the market during the projection period. It involves a simple blood test that requires a few milliliters of blood, eliminating the need for invasive and risky surgical biopsies. Liquid biopsy allows early detection of cancer, even before the symptoms appear. This is because cancer cells release DNA into the bloodstream that can be detected in liquid biopsy blood tests.
Liquid biopsy is highly in demand also because it allows for the real-time monitoring of cancer’s progress and its response to treatment. Furthermore, it helps in identifying specific genetic mutations that are causing the growth of cancer. This allows healthcare professionals to develop targeted personalized treatments and therapies that are tailored to the patient’s specific needs. These factors are likely to create lucrative prospects for the cancer biopsy market in the coming years.
- In May 2023, LabCorp announced the launch of LabCorp Plasma Focus, a liquid biopsy test that enables targeted therapy selection for people with metastatic solid or advanced tumors. It allows the oncologists to assess the circulating cell-free DNA (cfDNA) coming from tumor cells and manage patient care through a customized, targeted therapy plan.
Regional Analysis
North America is leading the cancer biopsy market
North America dominated the market with the highest revenue share of 42% owing to the well-developed healthcare infrastructure and high prevalence of cancer in this region. The manufacturers operating in this region develop novel kits well-suited for speedy diagnostic applications. Moreover, the growing adoption of liquid biopsies in the United States is owing to the profitable strategies commissioned by the government authorities.
For instance, in recent years, the US FDA (Food and Drug Administration) developed the framework required for creating the regulations for liquid biopsy-based oncology diagnostics.
The Asia Pacific region is expected to experience the highest CAGR during the forecast period
Asia Pacific is expected to grow with the fastest CAGR owing to the rapid rise in population and the advancements in biopsy techniques. The presence of several emerging economies with high healthcare expenditure facilitates biopsy for a large number of patients. Furthermore, the growth in R&D activities regarding advanced cancer diagnosis is likely to boost the market in this region in the coming years.
Key Regions and Countries
North America
- US
- Canada
Europe
- Germany
- France
- The UK
- Spain
- Italy
- Russia
- Netherland
- Rest of Europe
Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- New Zealand
- Singapore
- Thailand
- Vietnam
- Rest of APAC
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
Key Players Analysis
The major players in the cancer biopsy market use growth strategies such as partnerships, acquisitions, mergers, and product launches to ensure growth and expansion. For instance, in August 2022, Guardant Health received approval from the US Food & Drug Administration (FDA) for Guardant360 CDx liquid biopsy test. This is intended to increase the company’s outreach among patients and boost its market share.
Top Key Players in Cancer Biopsy Market
- Thermo Fisher Scientific, Inc.
- Qiagen
- Myriad Genetics
- Lucence Diagnostics Pte. Ltd.
- Illumina, Inc.
- Hologic, Inc.
- Guardant Health
- Hoffmann-La Roche Ltd.
- Delfi Diagnostics
- Danaher
- BD (Becton, Dickinson, and Company)
- ANGLE Plc
Recent Developments
- In May 2023, Thermo Fisher Scientific, one of the leading market players, partnered with Pfizer to expand the limited access to next-gen sequencing-based testing in international markets for cancer patients. It aids clinicians in testing many genes of cancer simultaneously in the biopsied or surgically removed tumor. This is intended to provide fast results and improve patient outcomes.
- In May 2022, Delfi Diagnostics, a prominent producer of high-performance and affordable liquid biopsy tests, proposed multiple applications for its next-gen liquid biopsy platform. The organization gave an update regarding DELFI-L101, a potential, case-control study for training and testing classifiers for the detection of lung cancer.
