Cancer Diagnostics Market Size was valued at USD 160.2 billion in 2021 and is projected to grow from USD 170.9 billion in 2022 to USD 269.1 billion by 2030.
Cancer is the growth of the tumor cells in any part of the body that is uncontrolled and can spread to the remaining parts. There are above 200 types of cancer of which lung, melanoma, ovarian, pancreatic, colorectal, kidney, blood, liver, breast and cervical cancer are the most common. Cancer diagnosis during an early stage will help in curing the disease thereby limiting its severity. Independent and collaborative initiatives led by the companies and the governments are striving in raising cognizance regarding the advantages of early diagnosis of cancer. The substance that leads to cancer is known as carcinogen and the common causes of cancer include genetic or viral factors, environmental agents or molecules present in tobacco smoke.
There are many factors that is driving the growth of the cancer diagnostic market. Some of these factors as per the Market Research Future (MRFR) report include increasing prevalence of oncologic cases, increasing need for effective screening tests, constant advancements in diagnostics, rising awareness, supportive government initiatives, increasing use of tobacco, unhealthy diet, no physical activity, increasing exposure to UV rays, rising incidence of sexually transmitted HPV-infection and urban air pollution. On the contrary, factors such as poor reimbursement policies and accessibility of expensive treatment may hinder the growth of the cancer diagnostic market over the assessment period.
Key Players
global Cancer Diagnostics Market Players are Exact Sciences Corporation, Arquer Diagnostics Ltd, BioMark Diagnostics Inc., Biotheranostics, Agilent Technologies, Thermo Fisher Scientific, Illumina, Becton Dickinson and Company (BD), GE Healthcare, QIAGEN N.V and Abbott Laboratories
Market Segmentation
Market Research Future report offers an all-inclusive segmental analysis of the cancer diagnostic market on the basis of type, application and end user.
Based on type, it is segmented into tumor cancer diagnostics, imaging procedure, endoscopy based, biopsy based and others. Of these, the imaging procedure will have the largest market share over the assessment period.
Based on application, the cancer diagnostic market is segmented into pancreatic cancer, liver cancer, kidney cancer, blood cancer, skin cancer, prostate cancer, cervical cancer, colorectal cancer, breast cancer, lung cancer and others. Of these, breast cancer will have the maximum share in the market.
Based on end-user, it is segmented into research institutes, hospital, clinic, diagnostic center and others. Of these, hospital will have a robust growth over the assessment period.
Regional Analysis
Based on region, the cancer diagnostic market covers growth opportunities and latest trends across North America, Asia Pacific, Europe and Middle East and Africa. Of these, North America will command a major share due to increasing prevalence of people suffering from cancer, increasing use of advanced technology to improve both the diagnostics as well as treatment solutions in developed healthcare infrastructure and rising expenditure on healthcare and extensive research activities. Europe grabs the second largest share in the cancer diagnostic market owing to rising awareness about advanced diagnostics procedures, increasing cases of cancer, more initiatives taken by the government for supporting cancer patients and favorable reimbursement policies. In the APAC region the cancer diagnostic market will have a promising growth over the assessment period. On the other hand, the cancer diagnostic market in the Middle East and Africa will have a steady growth owing to low penetration of latest diagnostics solution and lack of awareness.
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