Nowadays, internationally, cancer is the most evolving disease. Several types of cancer such as lung, melanoma, ovarian, pancreatic, colorectal, kidney, blood, liver, breast and cervical are occurring in humans. Detecting cancer at the primary stage can treat the disease and bounds the severity of the disease. Several research institutes have the large adoption rate of devices of cancer diagnostics because of substantial funding from private and government institutions.
In the historic year 2017, the global cancer diagnostics market size accounted for USD 8.8 billion. It is anticipated to increase the market in terms of revenue with a CAGR of 4.5% in the coming years.
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A rise in the occurrence of the cases of oncology, increasing demand for active screening examinations and continuous development in the technology of diagnosis are the factors responsible for increasing the demand for diagnostic tools. In addition, a supportive initiative of government and growing responsiveness are the factors projected to augment the cancer diagnostics market growth in the upcoming years.
Growth in the usage of tobacco including smokeless tobacco and cigarettes are the important factors responsible for boosting the global cancer diagnostics market during the forecast period. Moreover, another factors driving the growth of cancer diagnostics market globally are urban air pollution, increase in the exposure of UV radiation, a rise in the prevalence of sexually transmitted HPV-infection, an absence of physical activity and unhealthy diet of vegetable and low fruit intake.
Global cancer diagnostics market trends are current development of technology in diagnostic devices, a rise in the awareness regarding healthcare and growing cases of cancer of diseases. Additionally, mounting investment in the activities of research & development, promising reimbursement policies of the government are the key aspects propelling the growth of the cancer diagnostics industry globally. Furthermore, approvals of the stringent guidelines for the new product, expensive diagnostic devices are the characteristics controlling the growth of the global cancer diagnostics market.
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Several advancements comprising DNA sequencing and developed innovations of sequencing are considered to widely affect the treatment, findings and observations in tumor growth. In addition, an innovative industry of cancer diagnostics is anticipated to experience lucrative development in the coming years. For example, advancement is computer-based, moreover, to new modalities of imaging to break down the mammograms of X-beam. Therefore, the developments are probable to augment the precision of tumor screening with the help of automatic inventions carried out in the research centers of analyzing devices for the expansion of improved & new malignant biomarkers, such as examining protein, hormone and receptor are a few examples that help in increasing the treatment & discovery of tumor with developed evaluation of tissue assessment. Additionally, increasing advancements in investigating cell-free DNA and fluid cell growth in peripheral blood helps in diagnosing the patients of cancer with greater threats.
In the year 2017, cancer diagnostics market in North America accounted for maximum shares on the basis of revenue and is projected to continue their dominance in the coming years, because of the high prevalence rate of cancer amongst the population of the country. On the other hand, cancer diagnostics market of Asia Pacific is anticipated to register the maximum CAGR during the forecast period.
Key players involved in the development of cancer diagnostics market globally are Illumina Inc., Thermo Fischer Scientific, Qiagen, Siemens Healthcare, Abbott, Agilent Technologies and many more.
Key segments of the global cancer diagnostics market
Technology Overview, 2015-2025 (USD million)
- DNA Microarray
- Next generation Sequencing
- Lab on a chip (LoaC)
- Protein Microarray
- Immunohistochemistry (IHC)
- Flow Cytometry
- Magnetic Resonance Imaging (MRI)
- Computed Tomography (CT)
- Positron Emission Tomography – Computed Tomography (PET-CT)
Application Overview, 2015-2025 (USD million)
- Breast Cancer
- Lung Cancer
- Prostate Cancer
- Colorectal Cancer
- Skin Cancer
Regional Overview, 2015-2025 (USD million)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
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