Global Cancer Biopsy Market Set For 13.5% Growth, Reaching $41.65 Billion By 2028

Cancer Biopsy Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

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The cancer biopsy market size is expected to see rapid growth in the next few years. It will grow to $41.65 billion in 2028 at a compound annual growth rate (CAGR) of 13.5%.”

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LONDON, GREATER LONDON, UNITED KINGDOM, December 6, 2024 /EINPresswire.com/ --
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What Has Been the Recorded Growth of the Cancer Biopsy Market Over the Years?

The cancer biopsy market size has witnessed sizable expansion in recent times. A vivid portrayal of this growth is a leap from a valuation of $22.12 billion in 2023 to $25.08 billion in 2024, achieving an annual compound growth rate CAGR of 13.4%. Factors accountable for this growth during the historical period include escalated awareness around breast cancer liquid biopsy procedures, and inherited oncology disorders coupled with genetic testing. Other contributing elements encompass rising adoption rates of liquid biopsies, increased demand for minimally invasive biopsy treatments, and higher demand for tissue biopsies.

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How Fast is the Cancer Biopsy Market Expected to Grow in the Future?

The cancer biopsy market size is predicted to observe a substantial spike in the approaching years. More specifically, the market is estimated to inflate to $41.65 billion in 2028, maintaining a compound annual growth rate CAGR of 13.5%. This upsurge during the forecast period could be ascribed to a surge in the number of patients, population aging, an escalating number of patients suspected to have breast cancer, and a rise in overall cancer cases. Furthermore, enlarging diagnosis and biopsies testing, along with growth in patient numbers, are also deemed major market propellers.

What Advancements are Expected to Shape the Future of the Cancer Biopsy Market?

Innovations on multiple fronts are set to define the trajectory of the cancer biopsy market. Primary trends identified for the forecast period encompass technological advancements, application of artificial intelligence and machine learning, integration of multi-omics, and product innovations. The advent of point-of-care biopsy devices also forecasts promising growth opportunities.

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What Key Drivers Will Propel The Cancer Biopsy Market's Growth?

The escalating prevalence of cancer is slated to fuel the growth of the cancer biopsy market in the near future. Cancer's characterization as a disease group governed by abnormal cell proliferation and metastasis has been exacerbated by several factors. These comprise lifestyle alterations, urbanization, environmental pollution, and consumption patterns of tobacco and alcohol, further influenced by healthcare access and awareness levels. Cancer biopsy, which aids in the diagnosis, staging and spread assessment of cancer, involves taking and analyzing tissue or cell samples from areas deemed suspicious. Therefore, the rising prevalence of cancer is inherently linked to the growth of the cancer biopsy market.

Who are the Key Players in the Cancer Biopsy Market?

Numerous influential entities are shaping the global operations of the cancer biopsy market, including Thermo Fisher Scientific Inc., Danaher Corporation, Becton Dickinson and Company, Roche Diagnostics GmbH, Hologic Inc., Illumina Inc., Bio-Rad Laboratories Inc., QIAGEN N.V., Exact Sciences Corporation, Myriad Genetics Inc., Guardant Health Inc., Veracyte Inc., GRAIL Inc., Freenome Holdings Inc., Biodesix Inc., Chronix Biomedical Inc., Biocept Inc., Personal Genome Diagnostics Inc., Agena Bioscience Inc., Oncimmune Holdings plc, Exosome Diagnostics Inc., Epigenomics AG, Genesystems Inc., Lucence Diagnostics Pte. Ltd., and ANGLE plc.

What does the Global Cancer Biopsy Market Segmentation Look Like?

The cancer biopsy market encapsulated in this report is segmented as follows:
1 By Type: Tissue Biopsies, Liquid Biopsies, Other Types
2 By Application: Breast Cancer, Colorectal Cancer, Cervical Cancers, Lung Cancers, Prostate Cancers, Skin Cancers, Blood Cancers, Kidney Cancers, Other Applications
3 By End User: Hospitals, Diagnostic Laboratories, Other End Users

What are the Regional Insights into the Cancer Biopsy Market?

Regionally, North America accounted for the largest chunk of the cancer biopsy market in 2023. However, Asia-Pacific is pegged to be the fastest-growing region in the forecast period. The regions encompassed in this cancer biopsy market report span Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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