Fusion Biopsy Market Overview
As per MRFR analysis, the Fusion Biopsy Market Size was estimated at 2.57 (USD Billion) in 2022. The Fusion Biopsy Market is expected to grow from 2.95 (USD Billion) in 2023 to 10.2 (USD Billion) by 2032. The Fusion Biopsy Market CAGR (growth rate) is expected to be around 14.78% during the forecast period (2024 - 2032).
Key Fusion Biopsy Market Trends Highlighted
Key market drivers for fusion biopsy include advancements in molecular profiling and targeted therapies, the rising prevalence of cancer, and technological advancements.
Opportunities lie in the development of novel fusion biopsy techniques, expanding applications in precision oncology, and the growing adoption of liquid biopsies.
Recent trends in the global fusion biopsy market include the integration of artificial intelligence and machine learning for improved diagnostic accuracy, the adoption of minimally invasive procedures, and the development of personalized treatment plans based on fusion biopsy results.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Fusion Biopsy Market Drivers
Technological Advancements Driving Precision Medicine
With the introduction of various advanced technologies such as next-generation sequencing, the precision medicine technique has become more efficient, and the growth of the Global Fusion Biopsy Market is expected as the procedure of patient-specific biology becomes quite possible.
Such technologies enable the ability to analyze the particular changes of genes related to tumors in a patient.
Rising Prevalence of Cancer and Need for Early Detection
The incidence of cancer is on the rise globally, with an estimated 19.3 million new cases diagnosed in 2020. The need for early detection and accurate diagnosis is paramount to improve patient outcomes.
Fusion biopsies offer a minimally invasive and highly sensitive method for detecting cancer at an early stage when treatment options are more effective.
The increasing prevalence of cancer and the growing demand for early detection are expected to fuel the growth of the Global Fusion Biopsy Market.
Growing Adoption of Liquid Biopsies
Liquid biopsies, which analyze cell-free nucleic acids (cfNAs) in peripheral blood, offer a non-invasive alternative to traditional tissue biopsies.
Fusion biopsies can be performed using liquid biopsies, enabling the detection of genomic alterations in circulating tumor cells (CTCs) or cfNAs.
The growing adoption of liquid biopsies for cancer detection and monitoring is expected to drive demand for fusion biopsies in the Global Fusion Biopsy Market.
Fusion Biopsy Market Segment Insights
Fusion Biopsy Market Tech Target Insights
The market growth is attributed to the increasing prevalence of cancer, technological advancements, and rising adoption of minimally invasive procedures. DNA, RNA, and protein are the key targets for fusion biopsies.
DNA-based fusion biopsies are commonly used to identify genetic alterations, such as gene mutations, deletions, and amplifications, which can provide valuable information for cancer diagnosis, prognosis, and treatment selection.
RNA-based fusion biopsies analyze messenger RNA (mRNA) to detect gene expression profiles, which can help identify cancer-specific biomarkers and monitor treatment response.
Protein-based fusion biopsies involve the analysis of specific proteins or protein panels to detect cancer-associated alterations, such as over-expression or mutations, which can aid in cancer diagnosis and targeted therapy selection.
The market segmentation provides insights into the specific application areas and target molecules of fusion biopsies. DNA-based fusion biopsies held the largest market share in 2023, and it is projected to maintain its dominance throughout the forecast period.
This is primarily due to the extensive use of DNA-based technologies in cancer genomics and the well-established role of DNA alterations in cancer development.
RNA-based fusion biopsies are expected to witness significant growth, driven by the increasing adoption of RNA sequencing technologies and the potential of RNA biomarkers for cancer diagnosis and prognosis.
Protein-based fusion biopsies are gaining traction due to their ability to detect post-translational modifications and protein-protein interactions, which can provide complementary information to DNA- and RNA-based analyses.
Overall, the market for fusion biopsies is poised for substantial growth, driven by the increasing demand for personalized and targeted cancer therapies, technological advancements, and the growing prevalence of cancer worldwide.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Fusion Biopsy Market Product Insights
The product segment of the Global Fusion Biopsy Market is classified into Multi-gene Panels, Single-gene Tests, Companion Diagnostics, and Research Use Only (RUO) Kits. In 2023, the Multi-gene Panels segment held the largest market share at around 42.5%.
The growth of this segment can be attributed to the increasing adoption of next-generation sequencing (NGS) technology, which allows for the simultaneous analysis of multiple genes.
The Single-gene Tests segment is expected to witness significant growth in the coming years, owing to the rising demand for personalized medicine and the development of targeted therapies.
The Companion Diagnostics segment is also expected to grow at a robust pace, driven by the increasing use of companion diagnostics to guide treatment decisions. The Research Use Only (RUO) Kits segment is expected to grow at a moderate pace, as these kits are primarily used in research settings and are not approved for clinical use.
Fusion Biopsy Market Application Insights
The Global Fusion Biopsy Market for various applications, including oncology, neurology, infectious diseases, and cardiovascular diseases, presents a diverse landscape with distinct growth trajectories and market dynamics.
Oncology holds the largest market share due to the increasing prevalence of cancer and the growing adoption of precision medicine approaches.
The Global Fusion Biopsy Market revenue for oncology applications is projected to reach $7.2 billion by 2024, driven by the rising demand for minimally invasive biopsy techniques and the development of targeted therapies.
Neurology applications are also witnessing significant growth, owing to the increasing incidence of neurological disorders and the need for accurate diagnosis.
Infectious diseases and cardiovascular diseases applications are expected to grow steadily, supported by advancements in molecular diagnostics and the need for early detection and personalized treatment strategies.
Fusion Biopsy Market Technology Insights
The Global Fusion Biopsy Market is segmented by technology into Next-Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), Digital PCR, and NanoString Technologies.
NGS is expected to dominate the market with a significant revenue share in 2024, owing to its ability to identify a wide range of genomic alterations with high accuracy.
PCR, which is a well-established technology for DNA amplification, is anticipated to account for a considerable market share. Digital PCR, known for its high precision and sensitivity in detecting rare mutations, is projected to witness substantial growth.
NanoString Technologies, a versatile platform for gene expression analysis and biomarker detection, is poised to gain traction in the fusion biopsy market.
The market growth for these technologies is driven by increasing demand for personalized medicine, advancements in cancer diagnostics, and technological innovations.
Fusion Biopsy Market Regional Insights
The Global Fusion Biopsy Market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. The market in North America held the largest market share in 2023 and is expected to continue its dominance throughout the forecast period.
This growth is attributed to the increasing adoption of fusion biopsy in prostate cancer diagnosis and the presence of major market players in the region.
Europe is expected to be the second-largest market for fusion biopsy, with a significant market share in 2023. The growing awareness of prostate cancer and the increasing use of fusion biopsy in the diagnosis of the disease are the major factors driving the market growth in this region.
The Asia Pacific region is expected to witness the fastest growth rate during the forecast period, owing to the rising incidence of prostate cancer and the increasing adoption of fusion biopsy in the region.
South America and the Middle East and Africa contributed a smaller share to the global Fusion Biopsy Market revenue in 2023, but these regions are expected to experience a steady growth rate during the forecast period.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Fusion Biopsy Market Key Players and Competitive Insights
Major players in the Fusion Biopsy Market are continuously striving to bring innovative products and solutions to the market, leading to intense competition. Fusion Biopsy Market development is constantly evolving, with new technologies and approaches emerging regularly.
Leading Fusion Biopsy Market players are investing heavily in research and development, with a focus on improving accuracy, reducing invasiveness, and broadening the scope of applications.
The competitive landscape is characterized by strategic alliances, mergers, and acquisitions, as well as ongoing collaborations between various stakeholders in the Fusion Biopsy Market ecosystem.
NanoString Technologies, a leading player in the Fusion Biopsy Market, is renowned for its innovative nCounter Analysis System. This proprietary technology enables the precise analysis of RNA and DNA molecules, providing valuable insights into gene expression and genetic alterations.
NanoString's commitment to innovation has positioned it as a key player in the rapidly evolving field of precision medicine.
InVitae Corporation, a prominent competitor in the Fusion Biopsy Market, offers a comprehensive suite of genomic profiling solutions.
Their InVitae Comprehensive Genomic Profiling (CGP) assay provides a detailed analysis of DNA mutations, copy number alterations, and other genetic abnormalities. InVitae's focus on precision oncology has made it a trusted partner for cancer researchers and clinicians worldwide.
Key Companies in the Fusion Biopsy Market Include:
- Hologic, Inc.
- Exact Sciences Corporation
- Myriad Genetics, Inc.
- BioRad Laboratories, Inc.
- Invivoscribe
- Leica Biosystems
- Affymetrix, Inc.
- QIAGEN N.V.
- BD (Becton, Dickinson and Company)
- Agilent Technologies, Inc.
- Genomic Health
- Sysmex Corporation
- Beckman Coulter, Inc.
- Thermo Fisher Scientific Inc.
- Illumina, Inc.
Fusion Biopsy Market Developments
Advancements in technology and increasing adoption of minimally invasive procedures are driving market growth. Recent news developments include:
In January 2023, Veracyte announced the launch of its new Percepta Genomic Classifier for prostate cancer, which combines genomic and clinical data to provide personalized treatment recommendations.
In February 2023, Exact Sciences received FDA approval for its Oncotype DX Breast Recurrence Score test, which predicts the risk of breast cancer recurrence and helps guide treatment decisions.
In March 2023, Biocept announced a partnership with Illumina to develop and commercialize next-generation sequencing-based liquid biopsy tests for cancer detection and monitoring.
These developments indicate continued innovation and growth in the Fusion Biopsy Market as companies strive to improve patient outcomes and reduce healthcare costs.
Fusion Biopsy Market Segmentation Insights
-
Fusion Biopsy Market Tech Target Outlook
-
Fusion Biopsy Market Product Outlook
- Multi-gene Panels
- Single-gene Tests
- Companion Diagnostics
- Research Use Only (RUO) Kits
-
Fusion Biopsy Market Application Outlook
- Oncology
- Neurology
- Infectious Diseases
- Cardiovascular Diseases
-
Fusion Biopsy Market Technology Outlook
- Next-Generation Sequencing (NGS)
- Polymerase Chain Reaction (PCR)
- Digital PCR
- NanoString Technologies
-
Fusion Biopsy Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
2.57(USD Billion) |
| Market Size 2023 |
2.95(USD Billion) |
| Market Size 2032 |
10.2(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
14.78% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Hologic, Inc., Exact Sciences Corporation, Myriad Genetics, Inc., BioRad Laboratories, Inc., Invivoscribe, Leica Biosystems, Affymetrix, Inc., QIAGEN N.V., BD (Becton, Dickinson and Company), Agilent Technologies, Inc., Genomic Health, Sysmex Corporation, Beckman Coulter, Inc., Thermo Fisher Scientific Inc., Illumina, Inc. |
| Segments Covered |
Tech Target, Product, Application, Technology, Regional |
| Key Market Opportunities |
Increased demand for minimally invasive diagnostic procedures Technological advancements Rising prevalence of cancer Government initiatives and reimbursement policies Growing awareness about precision medicine |
| Key Market Dynamics |
Technological advancements, increasing prevalence of cancer, growing awareness, reimbursement and insurance coverage, and mergers and acquisitions |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Global Fusion Biopsy Market is expected to reach USD 10.2 billion by 2032, exhibiting a CAGR of 14.78% during the forecast period (2024-2032).
North America is expected to dominate the Global Fusion Biopsy Market throughout the forecast period due to the presence of key market players, well-established healthcare infrastructure, and increasing adoption of advanced technologies.
Fusion biopsy finds its application in various oncological indications such as prostate cancer, lung cancer, breast cancer, and other genitourinary and gastrointestinal malignancies.
Key competitors in the Global Fusion Biopsy Market include Boston Scientific Corporation, Medtronic plc, Ethicon (Johnson & Johnson), Olympus Corporation, and BD (Becton, Dickinson and Company).
The rising prevalence of cancer, technological advancements in biopsy procedures, increasing demand for minimally invasive techniques, and growing awareness about the benefits of fusion biopsy are the major factors driving market growth.
High cost of fusion biopsy systems, limited reimbursement policies, and lack of skilled professionals are some of the challenges faced by the Global Fusion Biopsy Market.
The Global Fusion Biopsy Market is expected to grow at a CAGR of 14.78% during the forecast period (2024-2032).
Advancements in imaging technologies, integration of artificial intelligence, and the development of novel fusion biopsy devices are some of the key trends shaping the Global Fusion Biopsy Market.
Growing demand for personalized medicine, increasing adoption of fusion biopsy in developing regions, and technological advancements in companion diagnostics present potential opportunities for growth in the Global Fusion Biopsy Market.
The Global Fusion Biopsy Market is segmented based on product type, application, end-user, and region.
