Cancer Biopsy Market Size, Share & Trends Report

Cancer Biopsy Market Size, Share & Trends Analysis Report By Type (Liquid Biopsy, Core Needle Biopsy), By Application (Breast Cancer, Lung Cancer), By Product (Kits & Consumables, Instruments), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68039-254-2
  • Number of Pages: 140
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2021
  • Industry: Healthcare

Research Methodology

A three-pronged approach was followed for deducing the cancer biopsy market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for cancer biopsy market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of cancer biopsy market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Cancer Biopsy Market Categorization:

The cancer biopsy market was categorized into four segments, namely product (Instruments, Kits And Consumables, Services), type (Tissue Biopsies, Liquid Biopsies), application (Breast Cancer, Colorectal Cancer, Cervical Cancers, Lung Cancers, Prostate Cancers, Skin Cancers, Blood Cancers, Kidney Cancers, Liver Cancers, Pancreatic Cancers, Ovarian Cancers), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The cancer biopsy market was segmented into product, type, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The cancer biopsy market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; Germany; the UK; France; Italy; Spain; Denmark; Sweden; Norway; China; Japan; India; South Korea; Australia; Thailand; Brazil; Mexico, Argentina; South Africa; Saudi Arabia, UAE; Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Cancer biopsy market companies & financials:

The cancer biopsy market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • QIAGEN , QIAGEN is a biotechnology company operating in over 20 countries globally. Its key business areas include assay technologies for molecular diagnostics, pharmaceutical, academic, and applied testing. Forensic technicians are utilizing molecular technologies developed by the company. It is also involved in the isolation of genetic material from biological samples. In March 2015, QIAGEN expanded its liquid biopsies portfolio by acquiring innovative technology from AdnaGen AG. This acquisition enabled an improvement in the molecular analysis of CTCs from blood samples for personalized healthcare.

  • ILLUMINA, INC. , Illumina, Inc.'s primary business includes developing, manufacturing, and distributing integrated platforms and systems for sequencing. It is also involved in analyzing genomic and proteomic information, determining biological function, and expressing a gene sequence. The company provides NGS platforms for genotyping, sequencing, and gene expression analysis. Its major operations are in North America and Europe. It is involved in the development of novel sequencing technologies aimed at reducing the cost of sequencing whole genomes. It offers genomic and molecular diagnostic products and services to cater to the fields of oncology, microbial genomics, drug development, agrigenomics, forensic genomics, infectious diseases surveillance, molecular epidemiology, and translational research involving HLA sequencing and associated applications.

  • ANGLE PLC ,  ANGLE plc offers CTC harvesting technology for research purposes. Its product has an In Vitro Diagnostic Devices Directive CE mark for indicated clinical use, while FDA clearance is currently under process for clinical applications. The company has branches in the UK, Canada, and Pennsylvania. It caters to translational research in various cancer forms, including small cell lung cancer, ovarian cancer, prostate cancer, and breast cancer. The company is involved in collaborations and partnerships with various research institutes & universities to promote use of its CTC harvesting platform in oncology research.

  • BD (BECTON, DICKINSON AND COMPANY) , BD is actively involved in developing, manufacturing, and distributing devices, diagnostics, & laboratory equipment. The company has two subsidiaries: BD Life Sciences and BD Medical. BD Life Sciences provides a range of products for collecting and transporting biospecimens for diagnostic purposes and diagnostic instruments & reagents for detection of infectious and chronic diseases. BD Medical develops medical devices and consumables applied to clinical & hospital applications. The company also produces and commercializes clinical & research tools, including monoclonal antibodies, analyzers, FACS, and cell culture media for biopharmaceutical companies. It is involved in the development of NGS libraries for research purposes. The company's clients include life science researchers, healthcare institutes, and public & clinical laboratories. It is present in over 50 countries.

  • MYRIAD GENETICS , Myriad Genetics, Inc. is a molecular diagnostics company involved in the development of personalized medicine. It provides services that can help assess risk of cancer & disease aggressiveness and optimize efficacy of chemotherapy. It offers a platform for hereditary cancer testing, prognostic medicine, personalized medicine, and companion diagnostics. Its pipeline includes diagnostics for various diseases, such as autoimmune diseases, diabetes, and nephrological diseases. Myriad RBM is a biomarker discovery platform that provides oncologists and physicians with multiplexed data for drug development and patient care. The company established sales offices in France, Germany, Spain, the UK, Switzerland, Australia, Italy, & Canada, and has laboratory operations in Germany. It has distribution partnerships with various organizations in European, Latin American, Asian, Middle Eastern, and African countries. In July 2018, Myriad Genetics completed acquisition of Counsyl, Inc.

  • HOLOGIC, INC. , Hologic, Inc. develops, manufactures, and supplies diagnostics, women’s health surgical products, and medical imaging instruments. It operates through four business segments: breast health, gynecologic surgical, diagnostics, and skeletal health. The company sells products through a combination of direct sales and a network of independent distributors & sales representatives. Its diagnostics business includes Aptima assays, ThinPrep system, Procleix Zika virus assay, and fetal fibronectin test. ThinPrep System is primarily used in cytology applications such as cervical cancer screening.

  • BIOCEPT, INC. , BIOCEPT, INC. is a molecular diagnostics company that specializes in biomarker analysis of circulating tumor-associated DNA in plasma or cell-free circulating tumor DNA & CTCs. The company's proprietary liquid biopsy technology provides in-depth clinical information to physicians for monitoring and treating patients with cancer. The company also provides services to other laboratory testing providers, research organizations, academic institutions, biopharmaceutical firms, and clinical trial support organizations. It has partnerships with several market leaders and major cancer centers, which, in turn, help the company advance in the field of cancer diagnostics.

  • THERMO FISHER SCIENTIFIC, INC. , Thermo Fisher Scientific, Inc. is a publicly held biotechnology company established following a collaboration between Fisher Scientific and Thermo Electron. It offers products in life sciences, industrial & applied sciences, and clinical diagnostics. It has operations in over 50 countries and offers products under the brands: Thermo Scientific, Invitrogen, Unity Lab Services, Applied Biosystems, and Fisher Scientific. The Life Technologies Corporation has operated as a subsidiary of Thermo Fisher since April 2013. It acquired Affymetrix, Inc. in March 2016. In October 2018, Thermo Fisher Scientific acquired Advanced Bioprocessing business of BD for USD 477 million. BD’s Advanced Bioprocessing products included cell culture media, Difco & Bacto supplements, Resurge & Recharge feeds, and custom media design services, now operating under Thermo Fisher Scientific’s Gibco cell culture product portfolio.

  • DANAHER , Danaher designs, manufactures, and commercializes products & services for medical, professional, and commercial applications. The company operates through four segments: diagnostics, life sciences, environmental & applied solutions, and dental solutions. Danaher’s diagnostics segment offers reagents, analytical instruments, software, consumables, and services for physicians’ offices, hospitals, reference laboratories, and other critical care settings to diagnose various diseases. North America generated 38% of diagnostics share in 2016. Danaher’s facilities are located in more than 60 countries across the world. It acquired Leica Biosystems Nussloch GmbH in 2005. The company offers products across immunohistochemistry, digital pathology, surgery, clinical microscopy, in situ hybridization, and radiology, along with FISH, & histology equipment, & consumables.

  • F. HOFFMANN-LA ROCHE LTD. , F. Hoffmann-La Roche Ltd. develops and manufactures diagnostic & pharmaceutical products. It has 26 manufacturing sites across the globe with two business segments: pharmaceuticals and diagnostics. The pharmaceutical segment manufactures drugs for infectious diseases, cardiovascular, respiratory & metabolic disorders, cancer, and central nervous system & autoimmune diseases. Roche Diagnostics is involved in various fields, from patient self-monitoring to clinical laboratory systems. Roche Professional Diagnostics (RPD) is the company's most prominent business segment and provides solutions, tests, and instrument systems to enable reliable and cost-effective delivery of results. Ventana Medical Systems, a member of Roche Group, is involved in the development of assays and kits for in situ hybridization. It operates in several regions, including North America, South America, Europe, Africa, Asia, and Oceania.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Cancer Biopsy Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Cancer Biopsy Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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