Minimally Invasive Biopsy Market: The Next Big Discovery in Cancer Treatment!
According to the report released by the American Cancer Society in 2012, cancer is the cause of one in eight deaths globally. Another research by the WHO stated that Cancer accounted for around 9.6 million deaths worldwide in 2018. The treatment for cancer is highly dependent on the diagnosis of the cancerous tumor tissue, which further depends on the ease of tumor accessibility and the patient’s condition. Cancer is difficult to diagnose due to the prolonged asymptomatic phase in patients.
Despite several imaging modalities such as ultrasound, positron emission tomography (PET), computed tomography (CT), and magnetic resonance imaging (MRI), the majority of these tests fail to capture early-stage cancers and small metastatic tumors. Over the last few years, the use of minimally invasive biopsy technologies has been preferred over the traditional biopsy methods. The former involves capturing the genomic content in various body fluids such as blood, urine, saliva, sweat, breath, and tears, combined with sensitive genotyping assays for diagnosis.
As per the BIS Research report titled “Global Minimally Invasive Biopsy Technologies Market — Analysis and Forecast, 2019–2030”, the global market is anticipated to reach $4.04 billion by 2030, owing to a CAGR of 12.82% during the forecast period, 2019–2030. The global market constitutes key insights for technologies such as liquid biopsy, optical biopsy, brush biopsy, fine needle aspiration, pigmented lesion assays, and breath biopsy.
Catering to the growing prominence of non-invasive technologies, recently physicians are exploring the usage of optical biopsy for the diagnosis of cancer. Among all the biopsy technologies available, the liquid biopsy segment accounts for a dominating share in the global market, resulting in higher market availability and demand for the same. This technique is also used in several other clinical applications, including treatment selection, prognosis and recurrence monitoring, and diagnosis and screening, out of which, treatment monitoring has been a predominant clinical application and accounted for $313.7 million in 2017.
The market is driven majorly due to the rising incidence of cancer and the growing prominence of personalized medicines. Due to the emerging economies, integration of AI, and active participation by the government, the market offers numerous growth opportunities for business expansions and collaborations to several established and emerging industry players.
The report captures a panoramic view of the market based on the competitive landscape, perception of the new products, market share of leading manufacturers, the growth potential of each underlying sub-segment, regulatory reforms, and technological advancements. It comes out as a holistic study that answers all questions related to the role of the market in drug discovery and clinical research, key strategies followed by industry leaders to establish a strong foothold in the market, current and future market size based on influencing factors, among others.
Several companies, academic institutes, and universities have filed in a significant number of patents for minimally invasive biopsy techniques over the past nine years (2011–2019), owing to a considerable number of product launches and R&D activities. Recently, Bayer AG and AstraZeneca plc have been keen to collaborate with liquid biopsy companies to develop drug-diagnostic pairs. Furthermore, the recent roll-out of regulations favoring reimbursement for companion diagnostics has also bolstered this trend.
The major players of the market, such as Myriad Genetics, Qiagen, Bio-Rad Laboratories Inc., Mauna Kea Technologies, Caliber Imaging & Diagnostics, hold a significant share due to their diversified product offering and strong geographical presence.
