Cancer Diagnostics Market was valued US$ 7.6 Bn in 2017 and is expected to reach US$ 19.36 Bn by 2026, at a CAGR of 12.4% during a forecast period.
The cancer diagnostics market is segmented into product, application, and region.
In terms of product, global cancer diagnostics market is classified into laboratory tests, genetic tests, imaging, endoscopy, biopsy, and others. Based on an application, global cancer diagnostics market is divided into breast cancer, colorectal cancer, cervical cancer, lung cancer, prostate cancer, skin cancer, blood cancer, kidney cancer, liver cancer, pancreatic cancer, ovarian cancer, and others.
Based on regions, the global cancer diagnostics market is divided into five main regions are North America, Europe, Asia-pacific, Latin America and Middle East & Africa.
Global Cancer Diagnostics Market
In terms of application, the largest market share for the cancer diagnostics market is breast cancer. Mammography played a key role in this market share, as it is the most commonly used screening test for breast cancer. The demand for liver & kidney cancer screening is anticipated to rise significantly in the near future due to the surging consumption of tobacco & alcohol is resulting in the increased prevalence of tumor in the liver and kidney.
Based on products, the imaging segment is leading the market with the largest share in the market throughout the forecast period due to the imaging modalities such as computed tomography scan and magnetic resonance imaging are quick, non-invasive, and pain-free diagnostic solutions. These imaging modalities are used as supportive tests along with other laboratory and genetic tests to determine the location and severity of the condition in diagnosing a variety of cancer types. The laboratory tests include testing of blood, urine, other body fluids, or tissue for the presence of certain biomarkers, while genetic tests include detection of genetic aberrations in DNA and RNA samples taken from tumors.
The rising awareness and supportive government initiatives are boosting the market growth. The growing prevalence of oncologic cases, constant technological advancements in diagnostics, and increasing demand for effective screening tests are also propelling the market growth. Moreover, advancing technology is adding fuel to the growth of the market. Furthermore, the increasing prevalence of the different type of cancer drives market growth.
The availability of expensive treatment and poor reimbursement policies are hampering the market growth during the forecast period.
Geographically, North America is expected to dominate the vertical throughout the forecast period owing to factors such as greater funding available for research and development projects and high adoption of advanced technologies. North America dominated the market by capturing the largest revenue share of the market. Presence of numerous biotechnology as well as medical device companies in the region is one of the prime factors driving the growth of the diagnostics sector in the region.
Key player operating in global cancer diagnostics market are Abbott Diagnostics, Agilent Technologies, Inc., Becton, Dickinson and Company, bioMerieux, C.R. Bard, Inc., F. Hoffmann-La Roche Ltd., GE Healthcare, Hologic, Inc., Illumina, Inc., and Koninkli.
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Scope of Global Cancer Diagnostics Market:
Global Cancer Diagnostics Market, by Product:
• Laboratory Tests
• Genetic Tests
• Imaging
• Endoscopy
• Biopsy
• Others
Global Cancer Diagnostics Market, by Application:
• Breast Cancer
• Colorectal Cancer
• Cervical Cancer
• Lung Cancer
• Prostate Cancer
• Skin Cancer
• Blood Cancer
• Kidney Cancer
• Liver Cancer
• Pancreatic Cancer
• Ovarian Cancer
• Others
Global Cancer Diagnostics Market, by Region:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
Key player operating in Global Cancer Diagnostics Market:
• Abbott Diagnostics
• Agilent Technologies, Inc.
• Becton, Dickinson and Company
• bioMérieux
• C.R. Bard, Inc.
• F. Hoffmann-La Roche Ltd.
• GE Healthcare (A Subsidiary of General Electric Company)
• Hologic, Inc.
• Illumina, Inc.
• Koninkli
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