U.S. Cancer Biopsy Industry Overview
The U.S. cancer biopsy market size was valued at USD 6.96 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.0% from 2021 to 2028.
The increasing popularity of image-guided needle biopsies in precision medicine applications and a rise in the adoption of biopsies based on multi-parametric Magnetic Resonance (MR) imaging are the key factors driving the market. Furthermore, the advent of liquid biopsies, rising clinical implementation of biopsies, and advancements in quality and payment pertaining to genetic oncology diseases are expected to propel market growth in the near future. The increasing prevalence of oncology indications and the growing geriatric population is also likely to fuel the market growth. Combined development and the implementation of solid and liquid biopsies in oncology management are driving the market at a lucrative rate.
Gather more insights about the market drivers, restrains and growth of the U.S. Cancer Biopsy Market
The liquid biopsy industry is anticipated to witness exponential expansion in the near future wherein increasing strategic initiatives and investments by key entities involved in biopharmaceutical manufacturing and genomic data analysis are expected to play a central role. This field is rapidly growing, involving noninvasive tests for patients with or at risk of developing cancer. Liquid biopsies exhibit the potential to facilitate early tumor detection and evaluation of the efficacy of potential treatments in real-time.
The rapidly emerging field of precision medicine has enhanced the clinical implementation of novel oncology diagnostic tools. This field has expanded the use of these tools to obtain and analyze a large volume of genetic information related to oncology. Moreover, the development of advanced, next-generation sequencing tools has increased the utility of liquid biopsy tools in the detection of specific tumor-derived DNA (i.e., cfDNA).
Liquid biopsy tests are gaining increasing relevance to the everyday prescription of oncology therapeutics and clinical decisions, and laboratories are getting accredited as per the latest standards for molecular testing, which is expected to fuel the market growth in the coming years. An increase in the penetration of biopsies across the workflow of genetic cancer tests can be attributed to the robust reproducibility and reliability of the same.
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U.S. Cancer Biopsy Market Segmentation
Grand View Research has segmented the U.S. cancer biopsy market on the basis of type, application, and site (organ):
U.S. Cancer Biopsy Type Outlook (Revenue, USD Million, 2017 - 2028)
- Fine-needle Aspiration
- Core Biopsy
- Surgical Biopsy
- Skin Biopsy /Punch Biopsy
- Others
U.S. Cancer Biopsy Application Outlook (Revenue, USD Million, 2017 - 2028)
- Screening Monitoring
- Diagnostics
- Investigational Translational Research
- Pharma Biopharma Discovery Development
U.S. Cancer Biopsy Site (Organ) Outlook (Revenue, USD Million, 2017 - 2028)
- Liver
- Breast
- Thyroid
- Prostate Gland
- Uterus Cervix
- Kidney
- Bladder
- Lungs
- Pancreas
- Others
Market Share Insights
- June 2021: Grail has started the sale of its Galleri – a multi-cancer early detection blood test in the U.S. It is a liquid biopsy test for adult individuals with an increased risk of cancer.
Key Companies profiled:
Some prominent players in the U.S. cancer biopsy market include:
- Becton, Dickinson and Company
- IZI Medical Products
- Johnson Johnson
- Argon Medical
- Cook Medical
- Spectra Medical Devices, Inc.
- Medtronic plc.
- Boston Scientific Corporation
- Conmed Corporation
- INRAD, Inc.
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