by Cancer biopsy is a medical procedure that involves removing a small amount of suspicious tissue or lymph nodes from a patient’s body in order to examine it more closely under a microscope. It is done to detect cancer or other diseases and determines whether abnormal cells are present. Advancements in biopsy techniques such as fine-needle aspiration biopsy, core needle biopsy, and stereotactic large core needle biopsy have enabled physicians to determine the precise nature and stage of many cancers with minimal invasiveness.
The global Cancer Biopsy Market is estimated to be valued at US$ 25.61 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
The increasing adoption of advanced biopsy techniques is one of the key trends propelling the growth of the cancer biopsy market. Recent advancements in biopsy devices have allowed physicians to extract intact tissue samples more effectively and efficiently using minimally invasive techniques. For instance, advanced core needle biopsy devices utilize vacuum-assisted technology and automated firing mechanisms to procure larger tissue specimens with fewer needle passes. Similarly, 3D stereotactic guided biopsy systems provide real-time imaging and precise targeting of tumors to extract diagnostic samples. The improved functionality and precision of modern biopsy instruments enable accurate cancer detection with minimal risks of complications. This has led to their increasing usage over conventional open surgical biopsies.
SWOT Analysis
Strength: The cancer biopsy technology is advancing rapidly with new techniques like liquid biopsy gaining popularity. This has increased the detection rate of cancer cases.
Weakness: Traditional tissue biopsy techniques can be an invasive procedure causing pain and discomfort to patients. This creates reluctance among some patients.
Opportunity: Rising incidence of cancer worldwide has increased the demand for effective diagnosis. Developing economies with large patient pool offer huge market opportunity.
Threats: Stringent regulatory landscape and regulatory approval process increase the compliance cost for companies. Reimbursement policies also impact the market adoption.
Key Takeaways
The global Cancer Biopsy Market Size is expected to witness high growth. Advancements in biopsy techniques like liquid biopsy have increased the accuracy of cancer diagnosis. The non-invasive nature of liquid biopsy makes it a preferred option.
Regional analysis: North America currently dominates the market owing to rising incidence of cancer, availability of advanced healthcare facilities and presence of key players. Asia Pacific is expected to grow at fastest pace due to large patient population, increasing awareness and rising healthcare spending.
Key players operating in the cancer biopsy market are Atlassian Corporation Plc, Microsoft Corporation, Monday.com Ltd., Wrike, Inc., Asana, Inc., Jira Software, Smartsheet Inc., Trello, Inc., Basecamp LLC, Teamwork.com Ltd., and Zoho Corporation Pvt. Ltd. They are focusing on new product launches and strategic collaborations to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
