Virtual Biopsy Market Size Worth over USD 3 Billion in 2035 | Roots Analysis

The growth in the virtual biopsy market size over the next decade is likely to be the result of a rise in the oncological disorders cases. This upsurge in the instances of oncology cases has led to an increase in the demand for diagnostics tools capable of rapid result delivery.

To overcome this upsurge, advanced diagnostic tools, such as virtual biopsy devices offer a shorter turnaround time, enabling faster results generation for end-users. In addition to rapid diagnosis, healthcare providers are increasingly adopting non invasive screening tools to provide safer diagnosis.

This trend has led to the emergence of virtual biopsy devices equipped with advanced imaging technology, allowing data collection without the need for surgical procedures. Given the rising demand for noninvasive and rapid diagnostic tools, the virtual biopsy market is anticipated to witness substantial growth in the foreseen future

The virtual biopsy market is anticipated to be worth USD 0.78 billion in 2025 and this value is likely to reach over USD 3.02 billion by 2035, expanding at a CAGR of 14.47% according to a new report by Roots Analysis.

Key Report Takeaways

Currently about 45 virtual biopsy devices are being offered by various developers worldwide; around 65% of these devices are designed by companies categorized as either small or very small

Out of various imaging technologies used, magnetic resonance imaging (33%) has emerged as the most widely utilized technology for image acquisition purposes, owing to the fact that it uses safe magnetic and radio waves for capturing data

In pursuit of building a competitive edge in this field, stakeholders are actively upgrading their existing capabilities and adding new devices in order to enhance their respective product portfolios

Over 50% of the deals have been inked in the last two years, demonstrating a considerable increase in partnership activity during this period; of these, more than 65% partnerships were international deals

A significant number of investors have provided financial aid of over USD 425 million to the companies engaged in developing virtual biopsy devices, owing to efficiency of virtual biopsy technique in improving healthcare outcomes

Around 85 patents related to virtual biopsy have been filed / granted by various industry and non-industry players to protect the intellectual property generated within virtual biopsy domain

More than 65 publications have been filed by scientists in the field of virtual biopsy globally, focusing on recent technological advancements that contribute to the development of efficient diagnosis and screening tools

The market opportunity associated with virtual biopsy is likely to witness an annualized growth rate of 14.47% till 2035, which can be attributed to the growing demand for non-invasive and safer diagnostic tools in healthcare

Competitive Landscape of Virtual Biopsy Market

The developers landscape features over 25 companies offering a range of advanced virtual biopsy devices. Overall, the market landscape of virtual biopsy is well-fragmented, featuring the presence of very small, small, mid-sized, large, and very large companies, which claim to have the required expertise to offer non intrusive and accurate diagnostic facilities worldwide.

It is interesting to highlight that most of these (>55%) virtual biopsy device developers are located in Europe; followed by North America; prominent manufacturing hubs in Europe include Italy and Spain. In addition to this, over 65% of virtual biopsy devices developed by companies are utilized to diagnose oncological disorders. Additionally, key players, including ImageBiopsy Lab, Imaging Biometrics and Quibim, offer a portfolio with maximum number of virtual biopsy devices used to screen and detect different ailments.

Regional Outlook

Based on the key geographical regions, the market can be segmented into five major regions, North America, Europe, Asia Pacific, Latin America and Middle East & North Africa. Led by the US, North America is anticipated to capture the majority share of the virtual biopsy market in 2025 and this trend is likely to remain unchanged in the forecasted timeframe.

Key industry players such as BrainSpec and Enspectra Health are pivotal in shaping the market dynamics in this region. Additionally, in Europe a supportive business ecosystem is likely to be the reason for various companies to sustain and flourish in this region.

Latin America is likely to exhibit lucrative opportunities owing to its increased the demand for advanced diagnostic tools, such as virtual biopsy devices to offer rapid result generation and comprehensive data interpretations. Thus, the emergence of several advancements in this area is one of the factor, leading to promising growth not only in the emerging economies of Latin America, but also in Asia-Pacific and the Middle East and Africa.

Key Players

Examples of key companies engaged in the virtual biopsy market (which have also been profiled in this market report; the complete list of companies is available in the full report) include:

City Imaging and Clinical Labs

GE HealthCare

ImageBiopsy Lab

Imaging Biometrics (Acquired by IQ-AI)

Median Technologies

OptoVibronex

Quibim

Siemens Healthineers

It is interesting to note that in 2024, GE Healthcare and Amazon Web Services inked a technological integration agreement to utilize artificial intelligence models to collect and analyze imaging data for enhancing existing diagnostic workflow.

Market Segments

Based on the research, Roots Analysis has segmented the Virtual Biopsy Market into Target Therapeutic Area, Type of Cancer Targeted, Type of Imaging Technology, End Users and Geographical Regions.

by Target Therapeutic Area

Oncological Disorders

Neurological Disorders

Cardiovascular Disorders

Ophthalmological Disorders

Endocrine Disorders

Gastrointestinal Disorders

Others

by Type of Cancer Targeted

Solid Malignancies

Breast Cancer

Lung Cancer

Prostate Cancer

Colorectal Cancer

Brain Cancer

Others

by Type of Imaging Technology

Magnetic Resonance Imaging

Computed Tomography

X-ray

Ultrasound

Others

by End-users

Hospitals and Clinics

Research Institutions and Diagnostic Centers

Others

by Geographical Regions

North America (US and Canada)

Europe (Germany, France, Italy, UK, Spain, Switzerland and Rest of Europe)

Asia Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific)

Middle East and North Africa (Saudi Arabia, Israel, Egypt, and Rest of Middle East and North Africa)

Latin America (Brazil, Mexico, Argentina and Rest of Latin America)

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