May 28, 2024
Global Cancer Biopsy Market

Cancer Biopsy Market Propelled by Advancing Technologies

Cancer biopsy is a medical procedure that involves removing and examining cells or tissues from a person’s body to help diagnose cancer. Advances in biopsy devices and imaging techniques allow for less invasive procedures that cause less pain and discomfort.

The global Cancer Biopsy Market is estimated to be valued at US$ 29.51 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Advancing biopsy technologies and imaging techniques are propelling growth of the cancer biopsy market. Newer biopsy devices integrate advanced imaging modalities like ultrasound, MRI, and CT guidance to help physicians collect samples accurately from hard to reach locations within the body. This has improved cancer detection rates and made biopsy procedures less complicated. Such advancements are enabling early-stage cancer diagnosis which is fueling adoption of biopsy devices globally.

SWOT Analysis
Strength: The cancer biopsy market offers solutions that help in early cancer detection and diagnosis. Early detection improves the chances of successful treatment.

Weakness: Cancer biopsies are invasive surgical procedures and may cause complications such as bleeding or infection in rare cases. There are also chances of sampling errors leading to inaccurate diagnosis.

Opportunity: Growing awareness about early cancer detection and increasing adoption of minimally invasive biopsy procedures offer significant market opportunities.

Threats: High procedure costs and lack of reimbursement coverage in some developing regions are major threats hampering wider adoption of cancer biopsy solutions. Stringent regulations for new product approvals also create delays.

Key Takeaways
Global Cancer Biopsy Market Size is expected to witness high growth over the forecast period. Advancements in minimally invasive biopsy devices and techniques are driving the market.

Regional analysis:

North America dominates the market currently due to growing cancer prevalence and supportive healthcare infrastructure. Asia Pacific is anticipated to offer lucrative opportunities with increasing healthcare spending in countries like China and India.

Key players:

Key players operating in the cancer biopsy market are Atlassian Corporation Plc, Microsoft Corporation, Ltd., Wrike, Inc., Asana, Inc., Jira Software, Smartsheet Inc., Trello, Inc., Basecamp LLC, Ltd., Zoho Corporation Pvt. Ltd., Pivotal Software, Inc., VersionOne Inc., Clarizen Ltd., Targetprocess Inc. These companies offer a range of imaging-guided and endoscopic biopsy devices.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it