Market Analysis
Market Scenario
Polyp Biopsy Market is expected to grow with a healthy CAGR of 6.2% during the forecast period and reach USD 1,624.1 Million by 2025. Polyps are caused due to abnormal cell growth and are mostly benign. However, if they are left untreated, they could turn cancerous. Conclusively, there is a need to diagnose polyp to avoid cancer. For doing the same, biopsy is a major diagnostic procedure. In this procedure, a sample of tissue is removed from the polyp and is analyzed under the microscope.
Rising incidences of polyps, growing geriatric populations, and increasing prevalence of colorectal cancer are projected to drive the market growth. Moreover, technological advancements related to biopsy is expected to fuel market growth. On the other hand, uncertain regulatory issues and biopsy-related risk of infections are expected to restrict the market growth during the forecast period.
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Global Polyp biopsy Market - Overview
Most of the medical conditions, including all cases of cancer must be diagnosed by taking a sample of tissue from the individual and sending it to a pathologist for diagnosis. This process is called biopsy. Polyps are normally found in organs with many blood vessels, organs include the uterus, colon, and nose. The global polyp biopsy market is expected to grow at a steady growth during the forecast period 2017-2022. The major factors influencing the growth of the market include rising consumption of tobacco and alcohol within the individuals, increasing prevalence of cancer across the globe and various others. The market is forecasted to demonstrate a single digit growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period 2017 – 2022.
Global Polyp Biopsy Market - Competitive Analysis
Characterized by the presence of several well-established and small players, the global market of polyp biopsy appears to be highly competitive and fragmented. With well-established market in the North America region major companies have their home in the region and generate maximum market share. These companies have expanded their operating unit in various other emerging regions as well. Moreover the other small and medium scale players are generating revenue from local market.
The market for biopsy has be highly competitive across the globe. Due to highly competitive are introducing new technology in for the development of the products. Caris Life Sciences one of the leading biotechnology company involved in manufacturing precision medicine, in December 2015 showcased the results from its first study using its revolutionary technology called Adaptive Dynamic Artificial Poly-ligand Targeting (ADAPT). The study presented, shows contains of blood plasma circulating complexes which contain information that could help as a diagnostic adjunct to mammography in women with dense breast tissue. In late 2015, outcomes from show that ADAPT is equally effective in difficult cases for which imaging technologies are inadequate for illustrating breast tissue as cancerous or non-cancerous. The ADAPT platform was developed on a huge library of approximately 1015 oligonucleotides engineered to adopt a highly complex set of unique three-dimensional binding sites. By introducing this technology will enhance the optimization of the aptamer library and testing on supplementary samples.
Global Polyp Biopsy Market - Regional Analysis
The global market is segmented into the various regions including Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas accounts for the largest market share of about more than ~40%. This large share can be attributed to favourable governmental conditions for research and development. CRC is the 3rd most common cancer and the third leading cause of cancer death in the United States. There has been increasing prevalence of adenomatous polyps of the colon and rectum both in the United States and various European countries.
Europe is the second largest market of polyp biopsy. Europe saw a high prevalent cases in the incidence of colorectal cancer (CRC) along with the over-all aging population as a whole. It has been found that there were more than 375,000 cases diagnosed and more than 203,000 deaths from this disease every year, making Europe’s the second most common cancer diagnosed patients and second most common cause of death due to cancer following lung cancer.
Asia Pacific due to raising of funds for research and development activities, and growing government initiatives for the awareness and preventive cancer. Asia Pacific is the fastest growing region in the global market. Particularly, India and China are anticipated to be a growing and the fastest growing market due to improvement in healthcare domain and increasing prevalence of cancer related diseases. Many major players seeking opportunity and expand their presence in this region influencing the growth of the market.
The Middle East & Africa holds the least share in the polyp biopsy market due to lack of awareness, less emphasis on research and development activities, and poor medical facilities.
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