The Cancer Biopsy Market is estimated to be valued at US$ 25.61 Bn in 2023 and is expected to exhibit a CAGR of 14. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Cancer biopsy is a medical test performed to remove cells or tissues from suspected cancer site to analyze the visual features and presence of cancer cells under microscope. It helps doctors in cancer diagnosis and determining the appropriate treatment method. The devices used for biopsy includes needles, imaging systems and biopsy guns that facilitate removal of sample with minimal invasion and risk.

Market key trends:
One of the key trends spurring the growth of cancer biopsy market is the advancement in devices that improved efficiency and reduced errors. Earlier, biopsies relied on blind manual needle insertion which led to sampling errors and low accuracy. However, new age devices integrating robotic assistance, ultrasound and MRI guidance improved real-time visualization during procedure. It allows doctors to target specific lesion areas accurately and obtain high quality samples. The automated devices have also enhanced efficiency by reducing procedure time helping doctors perform more biopsies. Such technological innovations are fueling the demand for cancer biopsy globally.

Porter’s Analysis

Threat of new entrants: The cancer biopsy market requires huge R&D investments as well as regulatory clearances, posing significant entry barriers for new players.

Bargaining power of buyers: Individual buyers have low bargaining power, but healthcare institutions have moderate power due to their ability to negotiate discounts and pricing.

Bargaining power of suppliers: Suppliers of diagnostic equipment and technologies have moderate bargaining power due to differentiated products and need for technical expertise.

Threat of new substitutes: There are no significant substitutes for cancer biopsy techniques as each addresses different types of cancers in alternative ways.

Competitive rivalry: Intense as major players compete on technology innovations, service expansions, and pricing strategies.

SWOT Analysis

Strengths: Rapid technological advancements enable non/minimally-invasive procedures. Widening scope of applications boosts market growth.

Weaknesses: Heavy capital investments required for R&D, high procedure costs limit widespread adoption in developing nations. Skilled professionals required.

Opportunities: Untapped developing markets with rising healthcare spending present lucrative opportunities. Growth in liquid biopsy tests.

Threats: Stringent regulations delay market approvals. Reimbursement issues impact market revenues. Patient safety concerns affect market demand.

Key Takeaways

The Global Cancer Biopsy Market Growth is expected to witness high growth, exhibiting CAGR of 14% over the forecast period, due to increasing cancer prevalence globally. Asia Pacific region is dominating the market and is expected to grow the fastest over the coming years due increased healthcare investments and expanding medical infrastructure in the region.

Key players operating in the cancer biopsy market are QIAGEN, Illumina, Inc., Angle PLC, Myriad Genetics, COUNSYL, Inc., Hologic, Inc., Biocept, Inc., Thermo Fisher Scientific, Inc., Danaher, F. Hoffmann-La Roche Ltd., Epigenomics AG, BD (Becton, Company), and Helio Health (Laboratory for Advanced Medicine), among others.

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