U.S. Cancer Biopsy Market Size Worth $20.18 Billion By 2030

U.S. Cancer Biopsy Market Growth & Trends

The U.S. cancer biopsy market is expected to reach USD 20.18 billion by 2030, registering a CAGR of 11.12% from 2023 to 2030 according to a new report by Grand View Research, Inc. The growth of the U.S. cancer biopsy market is attributed to the rise in the adoption of biopsies based on multi-parametric magnetic resonance imaging and the increasing popularity of image-guided needle biopsies in precision medicine applications.

The liquid biopsy industry is anticipated to expand at an exponential rate in the coming years, wherein increasing investments and strategic initiatives by the companies involved in biopharmaceutical manufacturing & genomic data analysis are anticipated to play a central role. In April 2022, Global Brain invested in Craif, Inc. to develop a novel noninvasive urinary liquid biopsy for the early detection of cancer.

Furthermore, the advent of liquid biopsies, rising clinical implementation of biopsies, and advancements in quality & payment pertaining to genetic cancer diseases are the factors expected to boost the market growth in the coming years. The increasing prevalence of cancer and the growing geriatric population are also likely to fuel market growth.

Moreover, the advent of blood-based multi-cancer early detection (MCED) technologies is going to offer lucrative opportunities during the forecast period. MCED represents a paradigm shift in how cancers will be diagnosed and treated in the future. The great promise of MCED is that it will enable clinicians to convert from screening a few cancers to screening individuals for many cancers.

Companies such as GRAIL, Exact Sciences Corporation are developing MCED tests. In addition, the National Cancer Institute (NCI) is looking at ways to study and evaluate MCED tests. NCI is currently designing clinical trials & other research opportunities for MCED tests, and recently issued a request for information from test developers on their readiness to participate in research initiatives.

Key companies operating in the U.S. cancer biopsy market have adopted several strategic initiatives to reinforce their market presence. Major undertakings by the market participants are mergers & acquisitions, collaborations & partnerships, regional expansions, and new product launches. For instance, in April 2022, Medtronic entered into collaboration with GE Healthcare to address the increasing need for outpatient care. Under this initiative, customers can access financial solutions, extensive product portfolios, and exceptional services.

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U.S. Cancer Biopsy Market Report Highlights

• Fine-needle aspiration segment held a dominant share in 2022 owing to the effective and quick test for determining the status of uncertain tissue

• Pharma & biopharma discovery & development segment is projected to grow at the fastest rate during  the forecast period owing to the increasing demand for developing novel drug candidates

• Breast cancer segment is the highest revenue-generating segment in the U.S. cancer biopsy market in 2022 owing to the increasing prevalence of breast cancer

• North America dominated the U.S. cancer biopsy market in 2022, which is attributed to preventive measures undertaken by the governments to stop the progression of diseases

U.S. Cancer Biopsy Market Segmentation

Grand View Research has segmented the U.S. cancer biopsy market based on type, application, and site (organ):

U.S. Cancer Biopsy Type Outlook (Revenue, USD Million, 2018 - 2030)

• Fine-needle Aspiration

  • Pharma-use

  • Clinical

• Core Biopsy

  • Pharma-use

  • Clinical

• Surgical Biopsy

  • Pharma-use

  • Clinical

• Skin Biopsy /Punch Biopsy

  • Pharma-use

  • Clinical

• Others

  • Pharma-use

  • Clinical

U.S. Cancer Biopsy Application Outlook (Revenue, USD Million, 2018 - 2030)

• Screening & Monitoring

• Diagnostics

• Investigational & Translational Research

• Pharma & Biopharma Discovery & Development

U.S. Cancer Biopsy Site (Organ) Outlook (Revenue, USD Million, 2018 - 2030)

• Liver

• Breast

• Thyroid

• Prostate Gland

• Uterus & Cervix

• Kidney

• Bladder

• Lungs

• Pancreas

• Others

List of Key Players of U.S. Cancer Biopsy Market

• BD (Becton, Dickinson And Company)

• IZI Medical Products

• Johnson & Johnson Services, Inc.

• Argon Medical

• Spectra Medical Devices, Inc.

• Medtronic

• Boston Scientific Corporation

• CONMED Corporation

• INRAD, Inc.

• Thermo Fisher Scientific, Inc.