Dublin, Feb. 14, 2023 (GLOBE NEWSWIRE) -- The "U.S. Cancer Biopsy Market Size, Share & Trends Analysis Report By Type (Fine-needle Aspiration, Core, Surgical, Skin Biopsy/Punch Biopsy), By Application, By Site, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The U.S. cancer biopsy market is expected to reach USD 20.18 billion by 2030, registering a CAGR of 11.12% from 2023 to 2030. The growth of the U.S. cancer biopsy market is attributed to the rise in the adoption of biopsies based on multi-parametric magnetic resonance imaging and the increasing popularity of image-guided needle biopsies in precision medicine applications.
The liquid biopsy industry is anticipated to expand at an exponential rate in the coming years, wherein increasing investments and strategic initiatives by the companies involved in biopharmaceutical manufacturing & genomic data analysis are anticipated to play a central role. In April 2022, Global Brain invested in Craif, Inc. to develop a novel noninvasive urinary liquid biopsy for the early detection of cancer.
Furthermore, the advent of liquid biopsies, rising clinical implementation of biopsies, and advancements in quality & payment pertaining to genetic cancer diseases are the factors expected to boost the market growth in the coming years. The increasing prevalence of cancer and the growing geriatric population are also likely to fuel market growth.
Moreover, the advent of blood-based multi-cancer early detection (MCED) technologies is going to offer lucrative opportunities during the forecast period. MCED represents a paradigm shift in how cancers will be diagnosed and treated in the future. The great promise of MCED is that it will enable clinicians to convert from screening a few cancers to screening individuals for many cancers.
Companies such as GRAIL, Exact Sciences Corporation are developing MCED tests. In addition, the National Cancer Institute (NCI) is looking at ways to study and evaluate MCED tests. NCI is currently designing clinical trials & other research opportunities for MCED tests, and recently issued a request for information from test developers on their readiness to participate in research initiatives.
Key companies operating in the U.S. cancer biopsy market have adopted several strategic initiatives to reinforce their market presence. Major undertakings by the market participants are mergers & acquisitions, collaborations & partnerships, regional expansions, and new product launches. For instance, in April 2022, Medtronic entered into collaboration with GE Healthcare to address the increasing need for outpatient care. Under this initiative, customers can access financial solutions, extensive product portfolios, and exceptional services.
U.S. Cancer Biopsy Market Report Highlights
- Fine-needle aspiration segment held a dominant share in 2022 owing to the effective and quick test for determining the status of uncertain tissue
- Pharma & biopharma discovery & development segment is projected to grow at the fastest rate during the forecast period owing to the increasing demand for developing novel drug candidates
- Breast cancer segment is the highest revenue-generating segment in the U.S. cancer biopsy market in 2022 owing to the increasing prevalence of breast cancer
- North America dominated the U.S. cancer biopsy market in 2022, which is attributed to preventive measures undertaken by the governments to stop the progression of diseases
| Report Attribute | Details |
| No. of Pages | 155 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $9.7 Billion |
| Forecasted Market Value (USD) by 2030 | $20.18 Billion |
| Compound Annual Growth Rate | 11.1% |
| Regions Covered | United States |
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends, and Scope
3.1 Cancer Medical Tourism Within & Outside the U.S.
3.2 Market Driver Analysis
3.2.1 Advent Of Liquid Biopsy
3.2.2 Transition Of Novel Oncology Diagnostics From Bench To Clinics
3.2.3 Advancements In Quality And Payment Pertaining To Genetic Cancer Tests
3.3 Market Restraint Analysis
3.3.1 Risks Associated With Biopsy Procedures
3.3.2 Technical And Clinical Challenges
3.4 Market Opportunity Analysis
3.4.1 Integral Role Of Biopsies In Oncology Companion Diagnostics
3.4.2 Increase In The Demand For Biopsies In Translational Research
3.5 Market Threat Analysis
3.5.1 Risk Associated With Repeat Biopsy Procedures
Chapter 4 Business Environment Analysis
Chapter 5 Supply Chain Analysis
Chapter 6 Cost/Pricing Analysis
Chapter 7 Reimbursement And Regulatory Analysis
Chapter 8 Challenges/Restraints/Complications Analysis
Chapter 9 Cancer Biopsy Product Manufacturers
Chapter 10 Type Business Analysis
Chapter 11 Site (Organ) Business Analysis
Chapter 12 Application (Cause) Business Analysis
Chapter 13 Regional Business Analysis
Chapter 14 Competitive Landscape
Chapter 15 Company Profiles
Companies Mentioned
- BD (Becton, Dickinson And Company)
- Izi Medical Products
- Johnson & Johnson Services, Inc.
- Argon Medical
- Spectra Medical Devices, Inc.
- Medtronic
- Boston Scientific Corporation
- Conmed Corporation
- Inrad, Inc.
- Thermo Fisher Scientific, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/n7ap5m-s-cancer?w=12
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