Table of Contents

Cancer Diagnostics Market Outlook, Share, Trends

The Cancer Diagnostics Market Size was assessed at USD 160.2 billion in 2021 and is expected to rise to USD 269.1 billion by 2030
Cancer Diagnostics Market

Market Overview

The Cancer Diagnostics Market Size was assessed at USD 160.2 billion in 2021 and is expected to rise from USD 170.9 billion in 2022 to USD 269.1 billion by 2030, with a compound yearly growth rate (CAGR) of 6.70% during the forecast period (2022- 2030). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.

Top Boosters and Barriers

Cancer remains of the most common reasons for deaths worldwide and the alarming rate at which it is gaining prevalence is one of the factors that boost the market demand. Given the aggravating situation, healthcare specialists are increasing their focus on developing advanced diagnostic solutions to analyze the prevalence level.

Technological innovations in several fields including imaging, biomarkers, endoscopy; biopsy, and the rapidly expanding geriatric population also work in the cancer diagnostics market’s favor. Rising number of initiatives by the government bodies and the increasing funds being allocated in this field also fosters market growth.

Many of the top firms in the global market are able to sustain their positions by adopting strategies such as product innovations and rigorous R&D efforts for the introduction of the same. It is expected that the competition in the worldwide market could intensify substantially over the next few years, as several vendors are now more focused on carrying out researches and coming up with innovative diagnostic techniques via product range expansions, acquisitions, collaborations and mergers. To illustrate, in November 2020, NanoString Technologies collaborated with the Oregon Health & Science University for the development of GeoMx Digital Spatial Profiler-based protein assays that cater to patients with breast cancer. This product innovation is expected to boost the application range of spatial biology, with the bigger picture being improved patient care via modern molecular testing.

Market Segmentation

Cancer diagnostics market outlook can be categorized depending on type, application and end user.

The types of cancer diagnostics trend in the market are biomarkers testing, imaging testing, biopsy, in vitro diagnostic testing, and more. Imaging testing types such as Magnetic Resonance Imaging (MRI) and Computed Tomography (CT) scan are non-invasive, pain-free and quick diagnostic solutions and therefore, observe significant demand in the healthcare industry.

Some of the top market applications are breast cancer, lung cancer, melanoma cancer, colorectal cancer, liver cancer, prostate cancer, and others.

Research institutes, hospitals and clinics, diagnostic centers, and others are the key market end-users.

Regional Insight

Asia Pacific or APAC, the Americas, Middle East & Africa or MEA and Europe are the primary markets for cancer diagnostics.

America is currently leading the global market for cancer diagnostics, thanks to the burgeoning elderly population and the high healthcare spending. The well-developed healthcare industry also favors the American market, especially in the United States.

Since 2018, Europe has remained the second biggest market for cancer diagnostics, as a result of the mounting awareness level among people about cancer and the surge in technological advances in the oncology field. Germany is the frontrunner in the regional Cancer Diagnostics Market report, considering that the country has a massive patient pool and accommodates a huge population of highly skilled healthcare professionals.

Top Industry Contenders

Top industry contenders analyzed in the MRFR report include Biotheranostics, Illumina, Inc., Exact Sciences Corporation, QIAGEN N.V., Arquer Diagnostics Ltd, Abbott Laboratories, Inc., Thermo Fisher Scientific, Inc., Roche Diagnostics, Siemens Healthcare, GE Healthcare, Agilent Technologies, Inc., Becton, Dickinson and Company (BD), Koninklijke Philips N.V., Inc., BioMark Diagnostics Inc., Cancer Diagnostics, Inc., to name a few.

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

Contact Us:

Market Research Future (Part of Wantstats Research and Media Private Limited)

99 Hudson Street, 5Th Floor

New York, NY 10013

United States of America

+1 628 258 0071 (US)

+44 2035 002 764 (UK)

Email: [email protected]

Website: https://www.marketresearchfuture.com

Blog Tags
Blog Category

Leave a Reply