Cancer Biopsy Market Assessment, Size, Value, Share, Growth, Trends, Competition, Industry Analysis, Actionable Insights Report; By Product Type, By Biopsy Type, By Application, By Region and By Country; Outlook and Forecasts, 2024 – 2030

Report Summary

The Global Cancer Biopsy Market size stood at USD 27 billion in 2023 and is expected to reach a valuation size of USD 50 billion by 2030, registering a robust CAGR of 11% during 2024-2030. Technological advancements, non-invasive and minimally invasive biopsy innovations, rising cancer occurrences, and the pursuit of accurate early-stage diagnostics propel the cancer biopsy market. Our exhaustive report intricately dissects this landscape, providing an extensive analysis of its present landscape, burgeoning technological advancements, drivers of growth, impediments, and the diverse opportunities influencing its trajectory. 

Cancer Biopsy Market Growth Insights

The growth trajectory of the cancer biopsy market is fueled by the escalating global cancer prevalence, augmented healthcare spending, and the expanding geriatric demographic. Concurrently, the rapid evolution of healthcare infrastructure, amplified demand for early disease detection and treatment, and a surge in oncology research activities are fostering lucrative prospects for industry advancement. Factors such as heightened health consciousness, the influx of cutting-edge technologies, and the presence of key market players further propel market momentum.

Moreover, the introduction of liquid biopsy and ongoing advancements in biopsy techniques, exemplified by the March 2022 breakthrough enabling cancer detection in bodily fluids, further bolster cancer biopsy market expansion. Additionally, within oncology diagnostics, diverse biopsy techniques including endoscopic, bone marrow, skin, needle, and surgical biopsies are extensively employed.

Cancer Biopsy Market Technology Trends

The escalating adoption of minimally invasive biopsy techniques, notably liquid biopsy, is a pivotal trend, offering non-intrusive and real-time insights into cancer progression, propelling the overall cancer biopsy industry. Furthermore, the integration of artificial intelligence (AI) and machine learning (ML) in biopsy analysis is amplifying diagnostic accuracy, optimizing workflows, and fostering personalized treatment approaches.

The introduction of liquid biopsy across cancer diagnosis, screening, prognosis, and treatment monitoring has intensified market competition and innovation. Companies spearheading liquid biopsy initiatives, like LabCorp unveiling a biomarker-identifying blood test in June 2023, are pivotal drivers in clinical settings. This groundbreaking test stands to expedite effective treatments for cancer patients at the earliest stages. Liquid biopsy offers cost-effectiveness, early prognosis, therapy monitoring, and patient comfort compared to conventional diagnostic tools. Currently, liquid biopsy primarily serves patients unable to undergo tissue biopsies, especially for advanced and metastatic cancer diagnoses.

Moreover, the integration of molecular diagnostics and next-generation sequencing (NGS) offers profound insights into tumor genetics, guiding targeted therapies for enhanced treatment outcomes.

Report Scope & Snapshots

What are the Growth Drivers, Restraints, and Opportunities in Cancer Biopsy Market? 

Rising Incidence of Cancer Cases and Associated Deaths Driving Cancer Biopsy Market Expansion

Global cancer rates and related mortality are sharply increasing due to lifestyle shifts, environmental factors, a growing geriatric population, and genetic influences. The rising prevalence of cancers like breast, lung, prostate, and colorectal is driving demand for biopsies, crucial for early detection and improved patient outcomes, fueling cancer biopsy market growth. The need for efficient cancer diagnosis has surged, with biopsies accurately identifying cancer cells and determining grade and stage. Notably, environmental causes, tobacco use, and lifestyle changes contribute to higher cancer rates, making cancer the second leading global cause of death. The International Agency for Research on Cancer (IARC) estimates 24.6 million cases and 12.9 million deaths by 2030.

Surge in Demand for Minimally Invasive Diagnostic Procedures to Propel Cancer Biopsy Market Growth

The increasing preference for minimally invasive medical procedures, driven by lower pain and infection risks, has led to a surge in the adoption of needle-based biopsies. This technique involves extracting small tissue or fluid samples from organs, bones, or muscles using a needle, which are then laboratory-tested for the presence of cancer cells. Needle-based biopsies offer a swift and convenient process for patients, contributing to the positive momentum in the cancer biopsy industry. 

Emergence of Liquid Biopsy Set to Drive Market Growth

The global cancer biopsy market is anticipated to experience growth, driven significantly by the introduction of liquid biopsy. Liquid biopsy involves analyzing circulating DNA (cfDNA) shed into the bloodstream by tumors in patients with metastatic cancer. In June 2023, Labcorp unveiled a liquid biopsy for detecting cancer-related biomarkers. This innovative blood test has the potential to enable early initiation of the most efficient treatments for cancer patients by analyzing the genomic makeup of advanced and metastatic solid tumors. The advent of liquid biopsy marks a pivotal factor influencing the positive trajectory of the global cancer biopsy market in the forecast period.

The cancer biopsy market faces challenges in its expansion due to stringent regulatory frameworks, particularly in the approval and commercialization of novel biopsy techniques. Adhering to evolving regulatory standards requires significant investments and meticulous compliance. Despite these challenges, the cancer biopsy market offers opportunities, such as untapped potential in emerging economies, collaborations between healthcare entities and research institutions, and the development of innovative biopsy tools and assays. Furthermore, the integration of telemedicine and point-of-care biopsy solutions opens promising avenues for market players to explore.

What are Cancer Biopsy Market Segmentations and Bifurcations? 

Cancer Biopsy Market by Product Type

• Instruments
• Kits and Consumables
• Services & Software

In 2023, the kits and consumables segment dominated the cancer biopsy market, representing approximately 60% of total revenue. This segment holds vital importance across various biopsy stages and has seen substantial investments by industry leaders, significantly shaping the market. The surge in global patient numbers seeking precise, rapid, and efficient instruments and kits further bolsters this segment's significance. Significant strides in cancer biopsy technologies, including instruments, kits, and consumables, mark this sector's evolution. Recently, Summit Medical introduced a single-use instrument for cervical rotating biopsy punch, streamlining urgent cancer diagnostic procedures.

Projections indicate that the instruments segment will experience the most rapid CAGR until 2030. Emerging manufacturers are focused on developing instruments that optimize endoscopy-based biopsy procedures, reflecting a promising trend in the market's trajectory.

Cancer Biopsy Market by Biopsy Type 

• Liquid Biopsies 
  • cfDNA
  • cfRNA
  • CTCs
  • Exosomes
  • Methylation
• Tissue Biopsies
  • Surgical Biopsies
  • Needle Biopsies
    • Core Needle Biopsy (CNB)
    • Fine Needle Aspiration (FNA)
• Others

In 2023, tissue biopsy segment emerged as the leading revenue generator, commanding more than 60% of the total revenue in the cancer biopsy market. It remains a cornerstone in biopsy procedures, widely adopted across diverse cancer diagnostic applications. Its enduring dominance stems from extensive research affirming its safety and efficacy, solidifying its position throughout the forecast period. Ongoing advancements aimed at refining tissue biopsy methods are poised to sustain its prominence in the global market for the coming years.

The liquid biopsies segment is poised for the fastest CAGR until 2030. Recent years have witnessed a growing preference for liquid biopsy among physicians due to its ability to provide comprehensive disease snapshots from both primary and distant tumor sites. This approach, integral to personalized medicine, involves repeated sampling of tumor markers to tailor therapy based on patient response.

The burgeoning liquid biopsy segment offers non-invasive, rapid, and promising methods for cancer detection and monitoring. Notably, companies are integrating liquid biopsy with advanced AI technology for enhanced DNA mutation analysis. A case in point is GC Genome Corporation's collaboration with the Korea Advanced Institute of Science and Technology (KAIST), underscoring their novel AI-based liquid biopsy technology for superior DNA mutation analysis.

The liquid biopsy assays that have received approval from the U.S. Food and Drug Administration (FDA) serve multiple purposes in the realm of cancer diagnostics. These assays are instrumental in determining eligibility for specific targeted treatments, assessing the response to therapy, and monitoring the progression of diseases. Their application extends to a spectrum of solid cancers, including but not limited to lung, breast, prostate, colorectal, ovarian, among others.

While the complete scope of liquid biopsies for detecting cancer before the onset of symptoms has not yet been fully realized, this field remains highly dynamic with ongoing intense research. Numerous ongoing clinical trials have displayed promising outcomes, signaling a positive trajectory in leveraging liquid biopsies for early cancer identification. While the goal of preemptive detection before symptoms manifest remains a work in progress, the accumulating evidence from these trials underscores the optimism surrounding the future application of liquid biopsies in this crucial realm of cancer diagnostics. 

Cancer Biopsy Market by Application 

• Blood Cancer
• Breast Cancer
• Cervical Cancer
• Colorectal Cancer
• Kidney Cancer
• Liver Cancer
• Lung Cancer
• Ovarian Cancer
• Pancreatic Cancer
• Prostate Cancer
• Skin Cancer
• Others

In 2023, breast cancer biopsy emerged as the leading application segment in the cancer biopsy market, and it is poised to exhibit the swiftest CAGR throughout the forecast period. The high prevalence of breast cancer, coupled with a growing number of patients under suspicion of the condition, necessitates microscopic analysis of breast tissue for a conclusive diagnosis, staging, and characterization. This heightened demand for needle biopsy or surgical biopsy to obtain tissue for microscopic scrutiny has driven the dominance of the breast cancer biopsy segment.

Similarly, the lung cancer segment is expected to undergo substantial growth, mirroring the escalating burden of lung cancer worldwide. The increasing prevalence of this disease globally positions lung cancer biopsy as an area with anticipated significant expansion in the near future.

What are the Regional and Country Trends in Cancer Biopsy Market?

Global Cancer Biopsy Market - Regional Analysis

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

In 2023, the North America cancer biopsy market claimed the leading revenue share, exceeding 40% of the global cancer biopsy market. Projections indicate that North America will maintain its dominance throughout the forecast period, primarily driven by significant contributions from the United States. Factors fueling this dominance include the escalating prevalence of cancer, spurring demand for early diagnosis and treatment, technological advancements, increased healthcare spending, and the presence of key industry players.

The region benefits from a favorable medical reimbursement landscape, stringent regulatory frameworks in medical therapeutics, and a growing geriatric population, all contributing to robust traction in the development of the North America cancer biopsy market. Distributors and manufacturers in this region are focused on both distributing and innovating novel kits tailored for rapid diagnostic applications.

The U.S. exhibits a rising adoption of liquid biopsies, supported by strategic initiatives established by government authorities. Regulatory strategies, particularly those formulated by the US Food and Drug Administration (FDA), revolve around guidelines for enrichment biomarkers, companion diagnostics, and approval precedents. The success of liquid biopsy regulatory pathways is complemented by the enhanced value of Clinical Laboratory Improvement Amendment (CLIA)-developed tests, FDA-approved to bolster confidence in their clinical utility.

The Asia Pacific cancer biopsy market exhibits consistent growth, propelled by expanding healthcare infrastructure and a rising incidence of cancer. The region's expanding population fuels the demand for advanced diagnostic tools. Concurrently, heightened awareness initiatives and enhanced healthcare accessibility have increased cancer screenings. The escalating adoption of biopsy procedures facilitates early and precise cancer diagnoses. Although the market is evolving, there remains untapped potential, notably in advancing technological capabilities and improving accessibility to state-of-the-art biopsy techniques. As the region progresses, the Asia Pacific cancer biopsy market stands on the brink of substantial expansion.

How is the Competition Scenario in Cancer Biopsy Market?

Cancer Biopsy Market - Competitive Landscape

Some of the key companies operating in the cancer biopsy market include Amoy Diagnostics, ANGLE, ArcherDX, BD (Becton, Dickinson and Company), Biocartis, Biocept, Biodesix (Integrated Diagnostics), Cell Search, CellMax Life, Chronix Biomedical, Danaher, Datar Cancer Genetics, DiaCarta, EONE-DIAGNOMICS, Epigenomics, Exact Sciences Corporation, Exosome Diagnostics, F. Hoffmann-La Roche, Freenome Holdings, GeneCast Biotechnology, Genesystems (Genesys Biolabs), GRAIL, Guardant Health, HelioHealth (Laboratory for Advanced Medicine), Hologic, Illumina, Integrated DNA Technologies, Lucence, MDNA Life Sciences, Miltenyi Biotec, Myriad Genetics, Natera, NeoGenomics, Oncimmune, ONCODE Scientific, OncoDNA, PANAGENE, Personal Genome Diagnostics, Personalis, Predicine, Qiagen, ScreenCell, Tecan, and Thermo Fisher Scientific, among others. These players deploy diverse strategies, including product innovation, geographic expansions, and strategic alliances, to establish a competitive edge. Notably, collaborations for clinical trials and the introduction of pioneering biopsy technologies stand as pivotal strategies adopted by these market players.

This comprehensive report profiles leading companies, offering an extensive analysis of their market positioning, strategies, product portfolios, and recent advancements. Key players strategically invest in Research and Development (R&D), collaborations, mergers and acquisitions, and product launches to solidify their market presence. Significant developments include the introduction of precision-enhanced biopsy devices, strategic research partnerships, and regulatory approvals for innovative diagnostic assays.

Furthermore, recent industry trends encompass alliances for data exchange, discoveries of new biomarkers, and strategic expansions into previously unexplored markets. These strategies collectively reflect the dynamic and competitive nature of the Cancer Biopsy Market and the efforts of key players to stay at the forefront of innovation and market leadership.

Cancer Biopsy Industry Developments

• In November 2023, Illumina Inc. unveiled the TruSight Oncology 500 ctDNA v2, a cutting-edge iteration of its liquid biopsy assay designed for genomic profiling.

• In June 2023, X-ZELL entered into an agreement with MVZ for pathology in Germany, establishing a product/technology utilization agreement for cryoimmunostaining in the treatment of early-stage prostate cancer.

• In May 2023, aiGENE secured a grant from the Colorado Office of Economic Development and International Trade (OEDIT) for developing a liquid biopsy product aimed at patient monitoring and early cancer detection across multiple indications.

• In January 2023, Qiagen acquired Verogen, a forensic science NGS firm, to bolster its product portfolio and enhance its global presence.

• In August 2022, Guardant Health received FDA approval for its Guardant360 CDx liquid biopsy test, designated as a companion diagnostic (CDx) for selecting patients with unresectable or metastatic HER2-mutant non-small cell lung cancer (NSCLC) with activating HER2 mutations for treatment with ENHERTU.

• In July 2022, BillionToOne Inc. introduced its inaugural oncology liquid biopsy products, Northstar Select and Northstar Response, currently available for research use with selected academic cancer centers.

• In May 2022, Delfi Diagnostics, a developer of high-performance, affordable liquid biopsy tests for early cancer detection, presented multiple applications for its next-generation liquid biopsy platform. The update included progress on DELFI-L101, a prospective, case-control study for training and testing classifiers for lung cancer detection.

• In August 2021, Illumina Inc. launched the TruSight Oncology 500 (TSO 500) ctDNA assay for liquid biopsy-based cancer detection and monitoring.

• In July 2021, Hologic Inc., a medical technology firm, acquired Mobidiag to expand its range of tests for oncology and infectious diseases.

• In June 2021, Guardant Health Inc. made the Guardant360 CDx liquid biopsy test available in Europe, offering a precision cancer solution to identify genetic changes in solid tumors.

• In May 2021, Thermo Fisher Scientific Inc. announced the availability of its Oncomine Precision Assay, featuring a panel of next-generation sequencing tests for identifying genetic mutations in solid tumors.