Virtual Biopsy: Paving Way for Enhanced Patient Care

Cancer is recognized as one of the most life-threatening disease due to their high prevalence and mortality rates across the globe. According to the American Cancer Society, in 2025 about 0.6 million cancer mortality cases are projected to occur in the United States. The impact of these conditions on patients is substantial, as the associated costs and complications can escalate dramatically, leading to reduced mobility and an increased risk of death. These challenges have prompted the demand for virtual biopsy devices to alleviate the growing burden of ailments.

In order to address these rising cancer instances, virtual biopsy devices have emerged as a fundamental tool used in diagnosis and treatment planning offering enhanced precision and advanced data interpretations. Virtual biopsy devices integrated with artificial intelligence and machine learning algorithms offer comprehensive data analysis and precise result generation. It is worth highlighting that could pave the way for advance patient care and diagnosis owing to their accurate data analysis and treatment planning approach. With continuous research efforts and innovation in this field and rising interest of investors in this domain, the market is anticipated to experience significant market growth over the forecasted period.

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Virtual Biopsy Market

According to Roots Analysis, the virtual biopsy market is currently estimated to be USD 0.78 billion and is anticipated to grow at a CAGR of 14.47% till 2035. In terms of target therapeutic area, oncological disorders (>25%) are expected to capture the majority share in the virtual biopsy market by 2035. Further, in terms of the type of cancer targeted, solid malignancies (~35%) are expected to capture the majority share in the virtual biopsy market by 2035. Notably by type of imaging technology, the magnetic resonance imaging segment currently holds the largest share (>30%) of the market. Additionally, in terms of end users, hospitals and clinics hold the largest share (~70%) of the overall market.

Current Market Landscape of the Virtual Biopsy Device Developers

The virtual biopsy market is among the most promising domains in the healthcare industry. Currently, 23 virtual biopsy device developers are focused on the development of virtual biopsy devices. The landscape features a mix of very large, large, mid-sized, small and very small virtual biopsy device developers. Further, it is worth mentioning that the majority (~50%) of the virtual biopsy device developers are headquartered in Europe, owing to well establishment of the supportive ecosystem for the emerging companies of virtual biopsy. Notable examples of key players based in Europe include (in alphabetical order, very small developers) HepaVue, KENKO Imalytics, M2TEST, Random Walk Imaging and SynDiag.

Market Trends: Virtual Biopsy Device Developers Partnering to Expand their Portfolio

In recent years, several partnerships and collaborations have been established by virtual biopsy device developers. Such deals are forged to allow companies to expand their respective products portfolio to gain additional capabilities and increase visibility in this domain. It is worth highlighting that the partnerships signed in this industry have primarily been focused on technical integration, fostering enhancements in the current device portfolio which will accelerate market expansion. For instance, in 2024, GE Healthcare and Amazon Web Services inked a technological integration agreement to utilize artificial intelligence models for enhancing current workflow for streamlined clinical operations.

Patent Analysis: Increase in Patent Activity Reflect the Growth of this Industry

It is worth highlighting that there has been a notable rise in the number of patent activities within the virtual biopsy market. Approximately 85 patents focused on virtual biopsy have been registered, indicating substantial research in this domain. Among these, most of the patents (~60%) have been filed were patent applications in this domain.

Funding Analysis: Virtual Biopsy Device Developers Have Experienced Investment Growth in the Past Years

In recent years, several instances of funding and investments have been established, enabling virtual biopsy developers to expand their product portfolio and accelerate company growth in this domain. It is worth highlighting that funding and investments made in this industry have been primarily focused on grant / awards, supporting new companies to enter into the market. For instance, in 2023, Darmiyan received grant / awards worth USD 0.4 million the Centre from Aging + Brain Health Innovation to early detect, visualize, and quantify neurodegenerative disorders.

Virtual Biopsy Market Size: North America to Hold the Largest Market Share, While Latin America to Witness Highest Market Growth

Presently, ~40% of the market opportunity is created by the growing demand of safer and effective healthcare devices to screen and diagnose ailments. This requirement of early detection tools increased the need of precise screening devices such as virtual biopsy for rapid and precise sample analysis of the patients. This can be attributed to the increasing investments for research and development within the medical device sector in this region. Further, the virtual biopsy market in Latin America is expected to grow at a relatively higher CAGR of 11.55%, during the forecast period, owing to the growing interest in research and development activities further escalating the demand for virtual biopsy in this region.

Market Analysis: Oncological Disorders Dominate the Virtual Biopsy Market; Ophthalmological Disorders Holds Huge Potential

The virtual biopsy market is currently estimated to be worth USD 0.78 billion. Driven by the increase inclination towards safer and non invasive diagnosis and increased data storage capabilities for enhanced data interpretation, the virtual biopsy market is anticipated to grow at a CAGR of 14.47% during the forecast period, till 2035. It is worth highlighting that, in terms of target therapeutic area, the oncological disorders segment is expected to capture the majority share of the market during the forecast period. This can be attributed to the fact that virtual biopsy devices are designed to cater early detection of diseases and production of rapid and accurate results.

Key Players Developing Virtual Biopsy Devices

Examples of the key virtual biopsy device developers (the complete list of players is available in the full report) include (in alphabetic order) City Imaging and Clinical Labs, GE HealthCare, ImageBiopsy Lab, MedianTechnologies, OptoVibronex, Quibim and Siemens Healthineers.

All your Questions Related to Virtual Biopsy Market Answered in this Report

The Virtual Biopsy Market report features an extensive study of the current market landscape, market size and future opportunities for virtual biopsy market growth during the given forecast period. Further, the report highlights the efforts of several stakeholders engaged in this rapidly emerging segment of the healthcare industry. The report answers many key questions related to this market. Click on the below link to know more about this emerging area of research

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