Market Trends of Cancer Biopsies Industry
This section covers the major market trends shaping the Cancer Biopsies Market according to our research experts:
Breast Cancer Segment is Expected to Grow During the Forecast Period
The breast cancer segment is expected to witness significant growth over the forecast period, largely attributed to the rising burden of breast cancer.
For instance, according to Breastcancer.org 2022 update, an estimated 287,850 new cases of invasive breast cancer were to be diagnosed in US women in 2022, along with 51,400 new cases of non-invasive (in situ) breast cancer. According to the American Society of Clinical Oncology (ASCO) January 2022 update, there are more than 3.8 million women in the United States with a history of breast cancer, inclduing women currently being treated and those who have completed their treatment.
According to 2021 statistics published by Breast Cancer Now, about 55,000 women are diagnosed with breast cancer in the United Kingdom every year. As per the same source above, 46,000 people are diagnosed with breast cancer in England every year, followed by 4,700 in Scotland, 2,800 in Wales, and 1,500 in Northern Ireland. Thus, the high burden of breast cancer cases across the world is expected to increase the diagnosis and biopsies testing, thus accelerating the segment's growth over the forecast period.
According to the January 2022 update of the American Cancer Society (ACS), the application of biopsies for breast cancer detection is increasing, and most often, a core-needle biopsy is performed rather than a surgical biopsy. Thus, the increased application of cancer biopsies for breast cancer is fueling the segment's growth.
North America is Anticipated to Witness Growth During the Forecast Period
The North American region held the largest share and is expected to maintain the same over the forecast period. Technological advancements, a high burden of cancer prevalence, and an increase in product approval and launches are major factors attributed to the market's growth.
There is a burden of cancer across the countries in North America. According to the NIH data published in March 2022, HER-2 negative cancer accounted for around 15-20% of the total breast cancer cases across the United States in 2021, and an estimated 287,850 new cases of female breast cancer were to be diagnosed in 2022.
In addition, according to the March 2022 update by the Government of Canada, breast cancer is Canada's second most frequent cancer, and 1 in every 8 women is likely to be diagnosed with breast cancer in the country. Thus, the growing prevalence of cancer across different nations in the region is expected to propel the demand for cancer biopsies, further fueling the market's growth over the forecast period.
Product innovations by major players and research institutes are also contributing to the market's growth. For instance, in June 2022, UCF researchers developed a liquid biopsy technique to help detect metastatic cancer in blood. It could help patients suffering from breast and lung cancers better monitor their disease. Thus, such developments are anticipated to contribute to the market's growth.
