Minimally Invasive Biopsy Technologies Market Size Worth USD 3.98 Billion By 2027
The Global Minimally Invasive Biopsy Technologies Market is projected to reach USD 3.98 billion in 2027. The rise in awareness about early cancer detection and the availability of reimbursement policies are expected to drive the growth of the minimally invasive biopsy technologies market. However, the stringent government regulations and the high cost associated with these technologies are hampering the growth of the market.
Around 66% of the total initial breast biopsies performed in North America are needle core biopsies, according to the Agency for Healthcare Research and Quality (AHRQ). Biopsy procedures have become more precise and less invasive over time. The ability to obtain larger tissue samples has also increased with the development of new technologies. Tissue acquisition is the most important factor in determining the accuracy of a diagnosis. The type of tissue acquisition depends on the biopsy procedure used. The three most common types of breast biopsy procedures are needle core biopsy, vacuum-assisted biopsy, and excisional biopsy.
Considerable numbers of the overall open excisional biopsy procedures are now being performed using minimally invasive approaches. The market is expected to show significant growth over the forecast period of 2019-2027 owing to the factors such as technological advancements in biopsy devices and increase in awareness among people related to early detection of cancer.
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One of the major trends being observed in the minimally invasive biopsy technologies market is the growing adoption of robotics in biopsy procedures. Robotics-assisted surgery has improved the surgical site visualization and made the procedure more precise. The utilizations of these systems have increased owing to their ability to provide more dexterity, control and range of motion as compared to the traditional open surgeries.
Minimally invasive biopsy technologies market is expected to grow significantly in the next few years owing to the increasing prevalence of cancer. According to the World Health Organization, the incidence of cancer is expected to grow by 70% over the next two decades. This increase in the incidence of cancer is the key factor driving the growth of minimally invasive biopsy technologies market.
In addition, the minimally invasive biopsy technologies offer several advantages over the conventional biopsy techniques such as less pain, shorter healing time, and lower risk of infection. These factors are also expected to fuel the growth of minimally invasive biopsy technologies market in the near future.
Further key findings from the report suggest
- The ambulatory surgery centers segment is expected to register the fastest revenue CAGR during the forecast period due to the increase in number of ambulatory surgery centers, and the technological advancements in diagnostic and therapeutic biopsy procedures. Also, the increase in awareness about early detection of cancer, and preference for minimally invasive procedures are anticipated to fuel the growth of this segment.
- The therapeutic application segment is expected to register the fastest revenue CAGR during the forecast period due to the increasing preference for minimally invasive procedures over conventional procedures, the availability of technologically advanced products, and the rising incidence of cancer globally.
- The Liquid Biopsy segment is expected to register the fastest revenue CAGR during the forecast period due to the rising demand for personalized medicine and the increasing adoption of liquid biopsy by pharmaceutical companies.
- The lung cancer segmental growth is attributed to the increasing number of government initiatives undertaken to spread awareness about early cancer detection. For instance, in May 2019, Cancer Research UK, in collaboration with NHS England, launched Be Clear on Cancer, a national campaign aimed at saving lives by raising awareness about four common signs and symptoms of lung cancer among people aged 40 years and above.
- The Asia Pacific region is also expected to grow due to the presence of a large patient population in the region. In addition, the region is expected to grow due to the increasing demand for minimally invasive procedures and the rising adoption of these procedure.
- Key players in the market include Chronix Biomedical, Biocept, Inc., F. Hoffmann-La Roche Ltd, Mauna Kea Technologies, Veracyte, Inc., Thermo Fisher Scientific, NeoGenomics Laboratories, Inc., Abcodia Ltd., Adaptive Biotechnologies, and Owlstone Medical Ltd., among others.
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For the purpose of this report, Emergen Research has segmented into the global Minimally Invasive Biopsy Technologies Market on the basis of Technology, Therapeutic Application, End-Use Verticals, and region:
Technology Outlook (Revenue: USD Billion; 2017-2027)
- Liquid Biopsy
- Optical Biopsy
- Brush Biopsy
- Pigmented Lesion Assays
- Breath Biopsy
- Brush Biopsy
Therapeutic Application Outlook (Revenue: USD Billion; 2017-2027)
- Lung Cancer
- Breast Cancer
- Prostate Cancer
- Colorectal Cancer
- Blood Cancer
- Non-oncology Applications
End-Use Verticals Outlook (Revenue: USD Billion; 2017-2027)
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Cancer Research Institutes
Regional Outlook (Revenue: USD Billion; 2017-2027)
- North America
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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