Market Research Report
Cancer Biopsy Market Size, Share & Trends Analysis Report By Product (Instruments, Kits & Consumables, Services), By Type (Tissue Biopsies, Liquid Biopsies), By Application, By Region, And Segment Forecasts, 2020 - 2027
|Published by||Grand View Research, Inc.||Product code||977696|
|Published||Content info||140 Pages
Delivery time: 2-3 business days
|Cancer Biopsy Market Size, Share & Trends Analysis Report By Product (Instruments, Kits & Consumables, Services), By Type (Tissue Biopsies, Liquid Biopsies), By Application, By Region, And Segment Forecasts, 2020 - 2027|
|Published: December 1, 2020||Content info: 140 Pages||
The global cancer biopsy market size is expected to reach USD 32.63 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.33% from 2020 to 2027. Several methods of diagnosing cancer patients exist currently, however, biopsy remains to be the only definitive method to confirm the onset of the disease in a patient. Since it involves close examination of organs/tissues, doctors largely rely on biopsies to perform accurate and early diagnosis in susceptible patients.
There has been a significant transition from tumor to liquid biopsy, which is expected to increase the adoption of kits as well as consumables. Acknowledging this trend, various market players have invested in the development of novel kits in order to expand their biopsy kits portfolio. For instance, Biocept, Inc. recently launched a liquid biopsy kit that is designed for research use pertaining to gene mutations.
Additionally, tumor biopsy is most adopted for the diagnosis on individual levels, along with monitoring the effects of ongoing oncology treatment. Shortcomings of liquid biopsies such as lack of robust efficacy evaluations and their associated high costs are currently bridged by tissue biopsies. This has made tissue biopsy a gold-standard procedure in the present diagnostic scenario.
Moreover, revolutionary advancements in liquid biopsies are expected to be a key factor fueling the overall market growth. Liquid biopsies are expected to offer lucrative opportunities in the field of genomic data analysis and oncology-based personalized medicine. Key players operating in the market such as Cardinal Health; BD; and Biocept, Inc. are focusing on the development of novel or automated biopsies to sustain the current market competition.
The liquid biopsies segment is expected to expand at an exponential rate in the coming years, wherein, increasing investments and strategic initiatives by companies involved in biopharmaceutical manufacturing and genomic data analysis are expected to play a central role. For instance, in early 2018, Seven Bridges Genomics, a company engaged in biomedical data analysis, announced its plan to enter the liquid biopsy market space.
Such emerging companies are inclined towards collaborating with well-established industry participants, including SOPHiA Genetics, QIAGEN Bioinformatics, Agilent Technologies, and Fabric Genomics. This trend is further expected to favor overall market growth.
In April 2020, Personal Genome Diagnostics, a liquid biopsy company, announced that its proprietary comprehensive genomic profiling diagnostic kit designed for oncology diagnostics received FDA approval. This kit is designed to enhance the scalability of precision medicine. With the launch of AdnaTest Lung Cancer Kit and AdnaTest Prostate Cancer Panel AR-V7 Kit, the company has further strengthened its position in the market, by affiliating with the American Association for Cancer Research (AACR).