According to FutureWise analysis the market for skin biopsy in 2023 is US$ 0.11 billion, and is expected to reach US$ 0.18 billion by 2031 at a CAGR of 6.2%.
A skin biopsy is a procedure that involves removing the skin and examining it for diseases or other clinical conditions. All types of skin conditions are determined, including the presence of cancer cells. A biopsy can diagnose a variety of skin conditions, including skin cancer, actinic keratosis, dermatitis, psoriasis, and infections. A formaldehyde solution will be used during the procedure to process and examine the tissue from the affected and ill skin section. In a skin biopsy, skin is removed for examination and information regarding any disease or clinical condition. The procedure is performed to determine if there are any cancerous cells or skin diseases present. Skin biopsy can be used to diagnose many diseases, including actinic keratosis, dermatitis, cancer, and infections of the skin. As part of the procedure, a sample of the affected or diseased part of the skin is placed in formaldehyde solution. After that, the tissue is processed and examined under a microscope. A growing number of skin diseases such as psoriasis, viral skin infections, and dermatitis, along with the demand for minimally invasive medical procedures are driving the growth of the skin biopsy market. The high usage of the biopsy to diagnose cancer and help distinguish healthy cells or calluses from tumorous cells and the increasing adoption of the procedure by interventional radiologists and diagnostic departments for the purpose of identifying diseases for healthcare institutions such as medical clinics, diagnostic centers and hospitals accelerates the growth of the skin biopsy market. In addition to the emergence of more than 100 types of cancers classified by their various organs, including malignant melanoma of the colon and rectum, the market for skin biopsy is influenced by the availability of several biopsies, such as shave biopsy, punch biopsy, excision biopsy, and incision biopsy. A growing population, increasing awareness about diseases, unhealthy lifestyles, cancer awareness campaigns, and an increase in healthcare expenditure all contribute to the growth of the skin biopsy market. Technological advancements in the instruments will provide profitable opportunities for players in the skin biopsy market during the forecast period. The high costs associated with the procedure and treatment are expected to slow the market's growth. It is predicted that the skin biopsy market will face challenges in the forecast period due to inadequate material collected and the lack of inclusion of deeper tissue in the biopsy.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Skin Biopsy Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Skin Biopsy Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.