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Global cancer diagnostics market size to record 6.2% CAGR through 2028
SKYLINE MARKET RESEARCH LLP
5 min read
SKYLINE MARKET RESEARCH LLP
The research report titled ‘Global Cancer Diagnostics Market’ aims to provide deep knowledge and insights regarding the industry scenario. It consists details in terms of growth drivers, bottlenecks, challenges, and upcoming prospects.
Pune, India, May 24, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global cancer diagnostics market is anticipated to progress with 6.2% CAGR during 2022-2028 to amass a valuation of USD 75 billion by the year 2028.
The study also comprises of an overview of major geographies and their future estimates, including the influence of the COVID-19 crisis. Moving further, the research elucidates the overview of industry’s leading competitors with detailed descriptions about the product offerings, company portfolios, financials, and major developments like mergers, partnerships, and investments.
The industry is majorly driven by growing prevalence of various types of cancer as well as surging technical breakthroughs that aid in better imaging of cancerous cells, improved equipment to detect the kind of cancer, and increased efficiency of the results.
For the unversed, cancer is a condition in which some cells in the body grow out of control and spread to other parts of the body. Cancer diagnostics is a process of identifying proteins, biomarkers, and other indicators that lead to the detection of a cancerous tumor.
Furthermore, supportive government initiatives for growing awareness about early disease diagnosis & prevention, soaring number of diagnostics laboratories, and booming popularity of yoga and other health practices are expected to bolster the industry trends during the forecast period.
However, the high cost of diagnostic imaging systems and the development of diverse diagnostic techniques for distinct cancer mutations may hamper global cancer diagnostics market expansion.
COVID-19 impact:
With the advent of COVID-19 pandemic, factors like strict government rules, nationwide lockdowns, an increase in infection rate, as well as decreasing patient visits to hospitals & clinics, and limited availability of medical professionals & healthcare staff had negatively impacted the business sphere in the recent past.
Market segment overview:
Based on type terrain, the industry is divided into biopsy, endoscopy, imaging, genetic tests, laboratory tests, and others.
In terms of disease indication, the market is branched into skin cancer, prostate cancer, pancreatic cancer, breast cancer, ovarian cancer, lung cancer, liver cancer, kidney cancer, colorectal cancer, cervical cancer, and blood cancer.
On the basis of end-user scope, the marketplace is categorized into diagnostic imaging centers, diagnostic laboratories, and hospitals & clinics.
To access a sample copy or view this report in detail along with the table of contents, please click the link below:
Thermo Fisher Scientific, Inc., Siemens Healthineers AG, Qiagen N.V., Merck & Co., Inc., Koninklijke Philips N.V., Illumina, Inc., Hologic, Inc., GE Healthcare, F. Hoffmann-La Roche AG, Bio-Rad Laboratories, Inc., Becton, Dickinson and Company, and Abbott Laboratories are the leading players in global cancer diagnostics industry.
Global Cancer Diagnostics Market, by Type (Revenue, USD, 2018-2028)
Biopsy
Endoscopy
Imaging
Genetic Tests
Laboratory Tests
Others
Global Cancer Diagnostics Market, by Disease Indication (Revenue, USD, 2018-2028)
Skin Cancer
Prostate Cancer
Lung Cancer
Liver Cancer
Ovarian Cancer
Pancreatic Cancer
Blood Cancer
Kidney Cancer
Colorectal Cancer
Cervical Cancer
Breast Cancer
Global Cancer Diagnostics Market, by End-User (Revenue, USD, 2018-2028)
Diagnostic Imaging Centers
Diagnostic Laboratories
Hospitals & Clinics
Global Cancer Diagnostics Market, Geographical Fragmentation (Revenue, USD, 2018-2028)
North America
Europe
Asia Pacific
Rest of the World (RoW)
Global Cancer Diagnostics Market, Company Profile (Revenue, USD, 2018-2028)
The cancer diagnostics market is anticipated to witness substantial growth through 2027 owing to rising incidences of cancer across the globe. Recently, industry players have been focusing on product development to gain a competitive edge in the market, which has been favorable for overall business outlook. For instance, in November 2021, Becton, Dickinson and Co., a key medical devices company, launched a fully automated high-throughput diagnostic system for cervical cancer screening, dubbed the BD COR PX/GX System. Approved by the U.S. Food and Drug Administration in August 2021, the system has been designed for use in centralized labs and can handle high-volume processing with increased efficiency. In the regional landscape, the Latin America cancer diagnostics industry accounted for approximately 7% of the overall market revenue in 2020 and is calculated to register stable revenue growth through the review timeline. Meanwhile, the Middle East & Africa cancer diagnostics market is speculated to grow at a CAGR of above 7.1% over the forecast period.
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