CAGR +11% Growth Predicted in Cancer Diagnostics Market by 2023 with Top Leading Players
Global Cancer Diagnostics Market: Synopsis
The detailed report that has been recently published by Market Research Future (MRFR) projects that the global cancer diagnostics market is marked to exhibit noteworthy expansion at a CAGR of 11.85% during the forecast period of 2017-2023. Rise in prevalence of individuals suffering from cancer and high demand for advanced diagnostic procedures in order to receive precise and effective treatment are majorly propelling the growth of the global cancer diagnostic market. Increasing availability of diagnosis solution in the healthcare sector in the developed and developing regions and rise in government initiatives to spread awareness in the underdeveloped regions are also fueling the growth of the global cancer diagnostics market.
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Global Cancer Diagnostics Market: Segmental Analysis
The global cancer diagnostics market has been segmented on the basis of types, application, and end user. Based on type, the global cancer diagnostics market has been segmented into biopsy based, endoscopy based, imaging procedure, tumor cancer diagnostics, and others. Based on application, the global cancer diagnostics market has been segmented into lung cancer, breast cancer, colorectal cancer, cervical cancer, prostate cancer, skin cancer, blood cancer, kidney cancer, liver cancer, pancreatic cancer, and others. Based on end user, the global cancer diagnostics market has been segmented into diagnostic center, clinic, hospital, research institutes, and others.
Global Cancer Diagnostics Market: Regional Analysis
Geographically, the global cancer diagnostics market ha been segmented into four major regions such as the Americas, Asia Pacific, Europe and the Middle East and Africa. The Americas command the major share of the global cancer diagnostics market owing to the high prevalence of individuals suffering from cancer, rapid adoption of advanced technology in order to improve the diagnostics and treatment solutions in the well-developed healthcare infrastructure and increased expenditure on healthcare by the population in this region. Technological advancement is aiding the pharmaceutical industry to carry out extensive research activities for the development of advanced diagnostics procedure in order to provide accurate treatment for curing cancer, which in turn is propelling the growth of the cancer diagnostics market in the Europe region. Increasing awareness regarding the availability of advanced diagnostics procedures in the healthcare sector of emerging economies, rise in prevalence of cancer, and increased government initiatives to support cancer patients to get thorough diagnosis and effective treatments with the help of favorable reimbursement policies are fueling the expansion of the cancer diagnostics market in the Asia Pacific region. Lack of awareness and low penetration of advanced diagnostics solution in the remote areas of the underdeveloped countries are leading to the steady growth of the cancer diagnostics market in the Middle East and Africa market.
Global Cancer Diagnostics Market: Industry Updates
In january 2019, MRM Proteomics inc. has partnered with biodesix which will allow Biodesix to utilize MRM Proteomics’s proprietary iMALDI technologies to improve the blood-based lung cancer diagnostics.
In January 2019, Veracyte, a U.S.-based genomic diagnostics comapny has partnered with Johnson & Johnson Innovation for the development and commercialization of new tests for detection of lung cancer during the early stages.
In January 2019, ArcherDx, The Boulder CO-based company has announced that it has been granted with Breakthrough Device Designation for its tissue specimen diagnostic and liquid biopsy application for effective cancer diagnostic.
Global Cancer Diagnostics Market: Key Players
The prime players profiled by MRFR that are operating in the global cancer diagnostics market are Armune BioScience, Inc. (the U.S.), Arquer Diagnostics Ltd (the U.K), BioMark Diagnostics Inc. (Canada), Biotheranostics, Inc. (the U.S.), Cancer Diagnostics, Inc. (the U.S.), Agilent Technologies, Inc. (the U.S.), Thermo Fisher Scientific, Inc. (the U.S.), Illumina, Inc. (Denmark), Becton, Dickinson and Company (the U.S.), GE Healthcare (the U.K), QIAGEN N.V. (Netherlands), Abbott Laboratories, Inc. (the U.S.), Roche Diagnostics (Switzerland), Siemens Healthcare (Germany), Philips Healthcare (the U.K.), and C.R. Bard, Inc. (the U.S.).
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