Global Cancer Diagnostics Market is Expected to Grow at a CAGR of 11.7% in the Forecast Period 2017-2024

Global Cancer Diagnostics Market is expected to reach USD 40.10 billion by 2024 from USD 16.55 billion in 2016, at a CAGR of 11.7% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

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Segmentation: Global Cancer Diagnostics Market

By Technology [Platform Based (Polymerase Chain Reaction (PCR), In Situ Hybridization (ISH), Immunohistochemistry (IHC), Next Generation Sequencing (NGS), DNA microarrays, flow cytometry and others);  Instrument Based {Imaging (Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Positron Emission Tomography- Computed Tomography (PET-CT), mammography and ultrasound), Biopsy}]; Applications (lung cancer, breast cancer, colorectal cancer, melanoma, and others), Geography (North America, Europe, Asia-Pacific, South America, Middle East Africa)

Drivers: Global Cancer Diagnostics Market

Some of the major factors driving the market for cancer diagnostics market are growing aging population worldwide, government initiatives for funding, and awareness about cancer. These factors increase the demand for cancer diagnostics products. Increasing prevalence of cancer, key players focusing on strategic decisions and technological advancements are the major factors driving the growth of the cancer diagnostics market.

INCREASING OCCUPATIONAL LIFESTYLE DISEASES CONTRIBUTING DEMAND FOR CANCER DIAGNOSIS

In recent years, the prevalence of chronic diseases (such as cancer, diabetes, hormonal disorder, and many others) across the globe has increased considerably over a period of time. The rapidly increasing aging population and the subsequent rise in chronic conditions are major factors driving the demand for self-injection devices and cost of healthcare.

GOVERNMENT INITIATIVES

The prevalence of cancer around the globe is on the rise.  Due to the rise in the incidence of cancer, government around the globe has been taking several initiatives to create awareness regarding the causes of cancer, symptoms and many more.

Technological Advancements And Innovations In Cancer Diagnostics Market

The Cancer Diagnostics Technology Market is expected to show significant growth in the coming years due to various technological advancements and new product launches in order to improve the convenience and ease of administration of parenteral therapeutics.

Major Players: Global Cancer Diagnostics Market

Some of the major players operating in this market are:

• Agilent Technologies,
• Abbott,
• Thermo Fisher Scientific,
• Becton, Dickinson and Company,
• GE Healthcare,
• QIAGEN,
• Illumina Inc.,
• F. Hoffmann-La Roche Ltd.,
• Siemens Healthcare GmbH, and
• Koninklijke Philips N.V., among others.