Cancer biopsy is a medical procedure that involves extraction of a small amount of the suspicious tissue for examination and diagnosis under a microscope. It helps diagnose cancer and determine the exact type of cancer. The procedure is usually performed in outpatient settings such as hospitals or ambulatory surgery centers using imaging technologies such as ultrasound, CT scan or MRI and minimally invasive techniques to precisely target the tumor tissues. The benefits include lower risk of complications, reduced recovery time and cost effectiveness. The increasing cancer prevalence globally and growing preference for minimally invasive procedures have fueled the demand for cancer biopsies.
The Global Cancer Biopsy Market is estimated to be valued at US$ 29.51 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Cancer Biopsy Market are Atlassian Corporation Plc, Microsoft Corporation, Monday.com Ltd., Wrike, Inc., Asana, Inc., Jira Software (part of Atlassian), Smartsheet Inc., Trello, Inc., Basecamp LLC, Teamwork.com Ltd., Zoho Corporation Pvt. Ltd., Pivotal Software, Inc., VersionOne Inc., Clarizen Ltd., Targetprocess Inc. Companies are focusing on developing advanced imaging and biopsy devices to increase efficacy and yield rates using minimally invasive techniques.
The major opportunities in the Cancer Biopsy Market Share include increasing awareness about early diagnosis, rising investment in digital pathology and development of AI and automated systems for precision diagnosis. Technological advancements such as liquid biopsies that can detect cancer from blood or other bodily fluids non-invasively offer new possibilities for screening and monitoring treatment response.
Market Drivers
One of the major market drivers is the rising cancer incidence globally. As per the World Health Organization, cancer burden has risen to 18.1 million new cases and 9.6 million cancer related deaths in 2018. Moreover, increasing geriatric population which is at a higher risk of cancer and growing healthcare expenditure also augments the demand for cancer diagnosis and biopsy procedures. Rising awareness, technological advancements and demand for minimally invasive surgeries also drives the market growth.
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