Market Size of Cancer Biopsies Industry
| Study Period | 2024 - 2029 |
| Market Size (2024) | USD 29.93 Billion |
| Market Size (2029) | USD 51.48 Billion |
| CAGR (2024 - 2029) | 11.46 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Cancer Biopsies Market Analysis
The Cancer Biopsies Market size is estimated at USD 29.93 billion in 2024, and is expected to reach USD 51.48 billion by 2029, growing at a CAGR of 11.46% during the forecast period (2024-2029).
The emergence of COVID-19 had a significant impact on the cancer biopsies market. During the initial phase of the pandemic, due to social distancing measures, hospital visits were drastically reduced, and only patients with emergencies were allowed. Thus, there was a decrease in cancer biopsies in 2020, which adversely impacted the market's growth. However, the adoption of new technologies increased post the pandemic, creating created new opportunities for the studied market.Liquid biopsies gained demand for detecting genetic alterations in cancer patients during the later phases of the pandemic. As per an article published in the PMC Journal in September 2021, the researchers recommended performing liquid biopsies, which represented a valid and less time-consuming diagnostic approach for managing lung cancer patients during the COVID-19 period than conventional tissue and cytological specimens. Hence, there was high demand for advanced technologies, which fueled the market's growth.
Factors such as the rising burden of oncology diseases, increasing adoption of liquid biopsies, advancement in technologies, and rising awareness of inherited oncology disorders and genetic testing are expected to contribute to the growth of the studied market.
The rise in cancer cases is also playing a key role in the cancer biopsies market's growth. According to CanRehab-2022, new cancer cases are expected to grow to 27.5 million by 2040, globally. According to the National Cancer Institute (NCI) 2022 update, there were around 83,730 new bladder cancer cases reported in 2021 in the United States, along with 284,200 breast cancer cases and 149,500 colon and rectal cancer cases. These figures indicate a huge burden of cancer among the population, acting as a potential elevating factor for the cancer biopsies market's growth.
The technological advancements and product launches by key players are also contributing to the growth of the market. For instance, in July 2022, BillionToOne Inc. launched its first oncology liquid biopsy product, Northstar Select and Northstar Response. The products are currently available for research use with selected academic cancer centers.
However, risks associated with biopsy procedures are expected to restrain the market's growth over the forecast period.
