Biopsy Market: Global Industry Analysis and Forecast (2022-2029)

Biopsy Market size is expected to grow from US$ 26.22 Bn. in 2021 to US$ 61.05 Bn. by 2029, growing at a CAGR of 11.14% through 2022 to 2029. Kits and Consumables Product segment leads the Global Biopsy Market by 2029.
Biopsy Market Overview:
In molecular medicine, biopsies have made major improvements, particularly in cancer. Because of technological developments in the equipment used for biopsies, the molecular characterization of malignancies has improved. They've been widely used to diagnose cancer, figure out the shape of the tumour, and figure out the disease stage. The evolution of the cancer biopsy market hinges on the development of molecular testing. In clinical investigations, biopsies are used to assess pharmaceutical response rates, especially in patients undergoing epidermal growth factor receptor (EGFR) therapy.

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Global Biopsy Market Dynamics:
Increased usage of liquid biopsies, a non-invasive method that has advantages over other methods, aids market expansion. All of these treatments are covered by oncology biologists, including skin biopsy, needle biopsy, bone marrow biopsy, surgical biopsy, and other types of biopsy. Bone diagnosis is a broad and complicated diagnostic technique. The FDA designated RaDaR as a breakthrough device to detect the least amount of residual sickness in early-stage cancer in March 2021, for example.

Biopsy is one of the most common methods for diagnosing cancer problems, and it is commonly employed in the diagnosis of breast, skin, and prostate cancer. According to the World Cancer Report, cancer rates could rise by 50 percent by 2021, resulting in 15 million new cases. As a result of the rising number of cancer cases and advancements in biopsy devices, the market is likely to expand throughout the forecast period.

Breast cancer, lung cancer, colorectal cancer, blood cancer, and thyroid cancer are just a few of the cancers for which fine needle aspiration biopsies are being performed more frequently. Multi-parametric magnetic resonance (MR) imaging-based biopsies are becoming more common due to their advantages. The expanding usage of image-guided needle biopsies in precision medicine is a major industry trend that is estimated to fuel market growth.
Global Biopsy Market Segment Analysis:
The Global Biopsy Market is segmented by Product, Type, and Application.

Based on the Product, the market is segmented into Instruments, Kits and Consumables, and Services. Kits and Consumables segment held the largest market share of 60.0% in 2021 and is expected to continue its dominance in the forecast period 2029. This is due to the kits and consumables are crucial at different phases of biopsies. Furthermore, large investments by major players in the industry have contributed significantly to the segment's growth. The segment's rise may also be due to an increase in the number of patients around the world who require efficient, precise, and quick tools and kits.



In terms of devices, kits, and consumables, cancer biopsy has seen a number of advancements. The creation of effective products connected with biopsies is critical as liquid biopsy becomes a multimodal tool of diagnosis in the field of clinical cancer. Despite the fact that existing instruments are widely utilized, they have a number of flaws. The introduction of new technologies, on the other hand, is expected to dramatically enhance the need for instruments in the forecast period.

Based on the Application, the market is segmented into Breast Cancer, Colorectal Cancer, Cervical Cancers, Lung Cancers, Prostate Cancers, Skin Cancers, Blood Cancers, Kidney Cancers, Liver Cancers, Pancreatic Cancers, Ovarian Cancers, and Others. Breast Cancer segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. Breast cancer is the most frequent type of cancer. According to breast cancer statistics in the United States, one out of every eight women develops invasive breast cancer. In the United States, an approximate 276,480 new cases of invasive breast cancer would be diagnosed in women in 2021, with more than 40,000 new cases of non-invasive breast cancer.

Microscopic investigation of breast tissue is required for obtaining a definitive diagnosis, as well as detecting the stage and characterization of type, in the growing number of individuals suspected of having breast cancer. The demand for a needle biopsy or surgical biopsy to acquire tissue for microscopic inspection has risen as a result, leading to segment growth.
Global Biopsy Market Regional Insights:
North America dominates the Global Biopsy market during the forecast period 2022-2029. North America held the largest market share of 40% in 2021 and is expected to continue its dominance in the forecast period 2029. During the forecast period, the region is expected to maintain its lead, with the United States contributing significantly to regional revenue. In the United States, the cancer biopsy market is estimated to reach USD 19.68 billion by 2029, with a CAGR of 11.0% over the forecast period. The increased adoption of technologically improved equipment for early sickness diagnosis is one of the key factors driving the market. In this region, distributors and manufacturers are also looking to create new kits that are well-suited for rapid diagnostic applications.

The increasing demand for less invasive procedures, an increase in the number of cancer patients, and government programmes for early cancer diagnosis are the crucial factors driving market growth in the North American region.

In addition, there is a huge increase in demand for minimally invasive biopsy techniques on the market. During the forecast period, numerous types of technologies and products, including as biopsy guiding systems, needle-based biopsy guns, and vacuum-assisted devices, are expected to increase rapidly. As a result of the factors mentioned above, the market is estimated to increase significantly over the forecast period.

Asia Pacific is expected to grow rapidly at a CAGR of 29.1% during the forecast period 2022-2029. Its popularity has increased in lockstep with public knowledge of cancer's morbidity. The high prevalence of breast cancer has fuelled demand for biopsies, and the region's global cancer biopsy market growth potential is being boosted by favourable reimbursement and payer networks.

One of the major drivers driving the biopsy market in the Asia Pacific region is the increased prevalence of cancer, as well as growing measures to raise awareness about cancer screening programmes. Furthermore, the rising risks of infection as a result of inappropriate management of invasive biopsy wounds have prompted the implementation of more stringent healthcare guidelines, which has boosted market growth.

The objective of the report is to present a comprehensive analysis of the Global Biopsy Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Biopsy Market dynamic, structure by analyzing the market segments and project the Global Biopsy Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Biopsy Market make the report investor’s guide.
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Global Biopsy Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 26.22 Bn.


Forecast Period 2022 to 2029 CAGR:
11.14%
Market Size in 2029:
US $ 61.05Bn.


 Segments Covered:
by Product
• Instruments
• Kits and Consumables
• Services


by Type
• Tissue Biopsies
• Liquid Biopsies
• Others


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



Global Biopsy Market, by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Global Biopsy Market Key Players
• Qiagen N.V.
• Illumina, Inc.
• ANGLE Plc
• BD (Becton, Dickinson and Company)
• Myriad Genetics
• Hologic, Inc.
• Biocept, Inc.
• Thermo Fisher Scientific, Inc.
• Danaher
• F. Hoffmann-La Roche Ltd.
• Lucence Diagnostics Pte. Ltd.
• GRAIL, Inc.
• Guardant Health
• Exact Sciences Corporation
• Freenome Holdings, Inc.
• Biodesix (Integrated Diagnostics)
• Oncimmune
• Epigenomics AG
• HelioHealth (Laboratory for Advanced Medicine)
• Genesystems, Inc. (Genesys Biolabs)

1] What segments are covered in Global Biopsy Market report?
Ans. The segments covered in Global Biopsy Market report are based on Product, Type, and Application.

2] Which region is expected to hold the highest share in the Global Biopsy Market?
Ans. North America is expected to hold the highest share in the Global Biopsy Market.

3] Who are the top key players in the Global Biopsy Market?
Ans. Qiagen N.V., Illumina, Inc., ANGLE Plc, BD (Becton, Dickinson and Company), and Myriad Genetics are the top key players in the Global Biopsy Market.

4] Which segment holds the largest market share in the Global Biopsy market by 2029?
Ans. Kits and Consumables product segment hold the largest market share in the Global Biopsy market by 2029.

5] What is the market size of the Global Biopsy market by 2029?
Ans. The market size of the Global Biopsy market is US $61.05 Bn. by 2029.

6] What was the market size of the Global Biopsy market in 2021?
Ans. The market size of the Global Biopsy market was worth US $26.22 Bn. in 2021.