VIRTUAL BIOPSY MARKET
As per Roots Analysis, the virtual biopsy market, valued at USD 0.53 billion in 2019, is projected to reach USD 0.78 million in current year and USD 3.02 billion by 2035, representing a CAGR of 14.47% during the forecast period.
The opportunity for virtual biopsy market has been distributed across the following segments:
Target Therapeutic Area
- Oncological Disorders
- Neurological Disorders
- Cardiovascular Disorders
- Ophthalmological Disorders
- Endocrine Disorders
- Gastrointestinal Disorders
- Others
Type of Cancer Targeted
- Solid Malignancies
- Breast Cancer
- Lung Cancer
- Prostate Cancer
- Colorectal Cancer
- Brain Cancer
- Others
Type of Imaging Technology
- Magnetic Resonance Imaging
- Computed Tomography
- X-ray
- Ultrasound
- Others
End Users
- Magnetic Resonance Imaging
- Computed Tomography
- X-ray
- Ultrasound
- Others
Geographical Regions
- North America (US and Canada)
- Europe (Germany, France, Italy, UK, Spain, Switzerland and Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia and Rest of Asia-Pacific)
- Middle East and North Africa (Saudi Arabia, Israel, Egypt, and Rest of Middle East and North Africa)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
VIRTUAL BIOPSY MARKET: GROWTH AND TRENDS
Over the years, healthcare professionals have been using conventional biopsy techniques for extracting patient samples surgically in order to analyze their condition. However, these methods are often associated with several complications, such as infections, hemorrhage after incision, and patient discomfort. In addition, conventional biopsy techniques are often cost intensive, with expenses related to sample collection, surgical interventions and operating room maintenance.
Based on estimates by the Indian Council of Medical Research (ICMR), the incidence of cancer cases is expected to increase from 1.4 million in 2022 to 1.5 million by 2025. As a result, the demand for safer and more efficient alternatives is increasing among medical professionals to enhance disease detection and patient care.
In order to meet the growing demand and mitigate the health concerns associated with the convention procedures, the virtual biopsy technique has gained traction as a non-invasive tool for disease detection and prognosis. This innovative technique provides various benefits, including reduced risks and the improved patient screening process. Further, virtual biopsy offers in-depth insights into patients' conditions by utilizing advanced artificial intelligence (AI) software that analyzes images from extracted samples in detail. Additionally, this approach plays a critical role in evaluating drug responses during treatment while mitigating the risks associated with surgical procedures, making it an essential tool for planning treatment.

Driven by the technological advancements in virtual biopsy techniques and the rising demand for effective patient care management, the adoption of virtual biopsy devices is steadily increasing and is anticipated to enable early detection and routine diagnostics in the healthcare sector.
VIRTUAL BIOPSY MARKET: KEY INSIGHTS
The report delves into the current state of the virtual biopsy market and identifies potential growth opportunities within the industry. Some key findings from the report include:
- Presently, about 45 virtual biopsy devices are being developed by various players worldwide; the innovation for 65% of these devices is being led by small players headquartered in developed regions.
- Magnetic resonance imaging (33%) has emerged as the most widely employed technology for image acquisition purposes, owing to the fact that it uses safe magnetic and radio waves for capturing data.

- Close to 50% of the deals have been inked in the last two years, demonstrating a considerable increase in partnership activity during this period; of these, more than 65% of the partnerships were international deals.
- Given the various benefits of virtual biopsy techniques in improving healthcare outcomes, a significant number of investors have provided financial support to the companies; over USD 425 million has been invested since 2020.
- Around 85 patents related to virtual biopsy have been filed / granted by various industry and non-industry players to protect the intellectual property generated within this field.

- More than 65 publications have been filed by scientists, focusing on recent technological advancements that contribute to the development of efficient healthcare tools.
- The virtual biopsy market is driven by an increase in the demand for safer and more efficient alternatives to conventional biopsy procedures; however, complex regulatory norms continue to pose a barrier to the industry growth.
- The market opportunity associated with virtual biopsy is likely to witness an annualized growth rate of 14.47% till 2035, owing to the growing demand for non-invasive and safer diagnostic tools.
- The overall opportunity is expected to be well distributed across different types of imaging technologies and end users.
VIRTUAL BIOPSY MARKET: KEY SEGMENTS
Oncological Disorder Segment is Likely to Dominate the Virtual Biopsy Market During the Forecast Period
Based on the target therapeutic area, the global market for virtual biopsy is segmented into oncological disorders, neurological disorders, cardiovascular disorders, ophthalmological disorders, endocrine disorders, gastrointestinal disorders and others. Currently, the majority share of the virtual biopsy market is captured by oncological disorders driven by the growing preference of physicians for non-invasive devices, such as virtual biopsy devices in cancer diagnosis. These devices meet this rising demand by using advanced technologies, such as computed tomography and magnetic resonance imaging for image capturing and analyzing the data.
Solid Malignancies Segment is Likely to Hold the Largest Share of the Virtual Biopsy Market During the Forecast Period
Based on the type of cancer targeted, the global virtual biopsy market is distributed across solid malignancies, breast cancer, lung cancer, prostate cancer, colorectal cancer, brain cancer and others. Currently, the solid malignancies segment is likely to dominate and drive the overall market growth. This can be attributed to the fact that solid tumors account for around 90% of all the adult cancer cases diagnosed, which results in increased demand for advanced diagnostic devices that can effectively diagnose such disorders.
By Type of Imaging Technology, Virtual Biopsy Devices Utilizing Magnetic Resonance Imaging Technology are Likely to Dominate the Market During the Forecast Period
Based on the type of imaging technology, the global virtual biopsy market is segmented across magnetic resonance imaging, computed tomography, X-ray, ultrasound and others. Notably, owing to the various advantages offered by magnetic resonance imaging (MRI) technology including a comprehensive 360-degree view of the sample, enabling easy and effective analysis of patient's condition, it is likely to dominate the virtual biopsy market during the forecast period.
Currently, Hospitals and Clinics Segment Holds the Largest Share of the Virtual Biopsy Market
Based on end users, the global market is segmented into hospitals and clinics, research institutions and diagnostic centers, and others. Currently, the hospitals and clinics segment holds the largest market share. This can be attributed to the increased demand for virtual biopsy devices in hospitals and clinics as these devices provide screening, diagnosis, and prognosis for various health conditions in these settings.
North America Accounts for the Largest Share of the Market
Based on geographical regions, the market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East and North Africa. In the current scenario, North America is likely to capture the largest market share. This can be attributed to the substantial budget amount allotted for research and development activities in the healthcare domain in this region. However, the virtual biopsy market in Latin America is expected to grow at a higher CAGR during the forecast period.
EXAMPLE PLAYERS IN THE VIRTUAL BIOPSY MARKET
- GE Healthcare
- Imaging Biometrics
- OptoVibronex
- ImageBiopsy Lab
- Median Technologies
- Quibim
- Siemens Healthineers
- City Imaging and Clinical Labs
VIRTUAL BIOPSY MARKET: RESEARCH COVERAGE
The report on the virtual biopsy market features insights on various sections, including:
- Market Sizing and Opportunity Analysis: An in-depth analysis of the virtual biopsy market, focusing on key market segments, including [A] target therapeutic area, [B] type of cancer targeted, [C] type of imaging technology, [D] end users, [E] geographical regions and [F] leading players.
- Market Impact Analysis: A thorough analysis of various factors, such as drivers, restraints, opportunities, and existing challenges that are likely to impact market growth.
- Virtual Biopsy Devices Market Landscape: A comprehensive evaluation of various virtual biopsy devices, based on several relevant parameters, such as [A] status of development, [B] year of approval, [C] region of approval, [D] regulatory accreditations, [E] type of step involved, [F] clinical purpose, [G] type of imaging technology used, [H] therapeutic application, [I] target therapeutic area, and [J] type of cancer targeted. This section also features a list of players engaged in the development of virtual biopsy devices, along with analyses based on [A] year of establishment, [B] company size, [C] location of headquarters and [D] most active developers.
- Company Profiles: Detailed profiles of companies engaged in developing virtual biopsy devices across various regions, including [A] company overview, [B] financial information (if available), [C] virtual biopsy device portfolio, [D] recent developments and [E] an informed future outlook.
- Product Competitiveness Analysis: An in-depth analyses of virtual biopsy devices, based on various relevant parameters, such as [A] company strength, [B] product portfolio strength and [C] product portfolio diversity.
- Partnerships and Collaborations: An insightful analysis of the deals inked by stakeholders in virtual biopsy domain, based on several parameters, such as [A] year of partnership, [B] type of partnership, [C] type of partner, [D] type of imaging technology used, [E] therapeutic application, [F] most active players, and [G] geographical distribution of partnership activity.
- Funding and Investments: An in-depth analysis of the funding raised by companies engaged in the virtual biopsy domain, based on relevant parameters, such as [A] year of funding, [B] type of funding, [C] amount invested, [D] geographical distribution, [E] most active players and [F] most active investors.
- Patent Analysis: Detailed analysis of patents filed / granted till date in the virtual biopsy domain, based on various relevant parameters, such as [A] type of patent, [B] publication year, [B] application year, [C] CPC symbols, [D] patent jurisdiction, [E] type of applicant, [F] leading industry players, [G] patent benchmarking, [H] patent valuation analysis, and [I] leading patents.
- Publication Analysis: A comprehensive assessment of publications made in the virtual biopsy domain, based on various relevant parameters, such as [A] year of publication, [B] type of publication, [C] key copyright holders, [D] most active publishers, [E] most active publishers (in terms of number of publications and impact factor) and [F] most popular keywords used.
KEY QUESTIONS ANSWERED IN THIS REPORT
- How many companies are currently engaged in this market?
- Which are the leading companies in this market?
- What factors are likely to influence the evolution of this market?
- What is the current and future market size?
- What is the CAGR of this market?
- How is the current and future market opportunity likely to be distributed across key market segments?
- What kind of partnership models are commonly adopted by industry stakeholders?
- What is the ongoing investment trend in this market?
- What is the patent filing activity trend in the market?
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