Global Cancer Diagnostics Market By Technology (Instrument Based, Platform-Based, Tumor Biomarker Tests), Application (Breast Cancer, Colorectal Cancer, Cervical Cancer, Lung Cancer, Prostate Cancer, Skin Cancer, Blood Cancer, Kidney Cancer, Pancreatic Cancer, Ovarian Cancer, Others), End-User (Cancer Research Institutes, Diagnostic Laboratories, Hospitals, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends & Forecast to 2026
Market Analysis: Global Cancer Diagnostics Market
Global Cancer Diagnostics Market is expected to rise from its initial estimated value of USD 143.89 billion in 2018 to a projected value of USD 244.28 billion by 2026, registering a CAGR of 6.84% in the forecast period of 2019-2026. This rise in market value can be attributed to innovations and advancements in technological offerings by the major manufacturers.
Market Definition: Global Cancer Diagnostics Market
Cancer diagnostics is the process of detecting various biomarkers, proteins and certain symptoms that result in the detection of presence of cancerous tumor in the patients. The detection of certain biomarkers and proteins that are prevalent in cancer disorders thereby result in the diagnosis process. The process of detecting cancer includes usage of certain technology and devices specifically used in its diagnosis.
- Significant contribution and investments undertaken by various organizations; this factor is expected to act as a driver for the market growth
- Increasing levels of geriatric population along with the growth in prevalence of cancer; this factor is expected to act as a driver for the market growth
- High cost of diagnostics procedure for cancers available in the market is expected to act as a restraint to the market growth
- Presence of strict regulations and standards for the approval and commercialization of cancer diagnostic products & services; this factor is expected to act as a restraint to the market growth
Segmentation: Global Cancer Diagnostics Market
- By Technology
- Instrument Based
- Needle Biopsy
- Endoscopic Biopsy
- Bone Marrow Biopsy
- Liquid Biopsy
- Diagnostic Imaging
- Magnetic Resonance Imaging (MRI)
- Computed Tomography (CT)
- Positron Emission Tomography
- Standalone Positron Emission Tomography
- Hybrid Position Emission Tomography
- Immunohistochemistry (IHC)
- Flow Cytometry
- In-Situ Hybridization (ISH)
- Polymerase Chain Reaction (PCR)
- Next Generation Sequencing (NGS)
- Tumor Biomarker Tests
- Alpha-Fetoprotein (AFP) Tests
- CA-19 Radioimmunoassay Tests
- BRCA Tests
- ALK Tests
- Carcinoembryonic Antigen (CEA) Tests
- KRAS Mutation Tests
- HER2 Tests
- EGFR Mutation Tests
- Circulating Tumor Cells (CTC) Tests
- Prostate-Specific Antigen (PSA) Tests
- Instrument Based
- By Application
- Breast Cancer
- Colorectal Cancer
- Cervical Cancer
- Lung Cancer
- Prostate Cancer
- Skin Cancer
- Blood Cancer
- Kidney Cancer
- Pancreatic Cancer
- Ovarian Cancer
- By End-User
- Cancer Research Institutes
- Diagnostic Laboratories
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In March 2019, NeoGenomics Laboratories, Inc. announced the launch of “Ventana PD-L1 (SP142) Assay” testing for tumor tissue testing in patients with triple negative subtype of breast cancer. The test recently approved by the FDA for patients who might respond to “TECENTRIQ”, an immune checkpoint inhibitor in combination with chemotherapy.
- In December 2018, QIAGEN and NeoGenomics Laboratories, Inc. announced that they had collaborated for the development and commercialization of diagnostic systems for cancer treatments. The agreement gives for the provision of QIAGEN companion diagnostics for the usage in clinical trials approval of oncology treatments until they are approved by the U.S. FDA.
- In October 2018, Telerad Tech announced the launch of a new AI-based breast cancer detection system, “MammoAssist” for the detection of early stage cancer. The system analyses the mammogram results and images and detects the characteristics highlighted in breast cancers.
- In August 2018, BioGenex announced the launch of five new antibodies for usage in cancer immunohistochemistry (IHC). The company’s IHC solution is capable of offering the widest portfolio inclusive of around 400 antibodies, reagents, consumables and ancillaries.
Global cancer diagnostics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cancer diagnostics market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Abbott; Agilent Technologies, Inc.; BD; bioMérieux SA; NeoGenomics Laboratories, Inc.; Telerad Tech; F. Hoffmann-La Roche Ltd; GENERAL ELECTRIC COMPANY; Hologic Inc.; Illumina, Inc.; QIAGEN; BioGenex; Siemens Healthcare GmbH; BioNTech Diagnostics GmbH; Thermo Fisher Scientific Inc.; Koninklijke Philips N.V.; are few of the major competitors currently present in the market.
Research Methodology: Global Cancer Diagnostics Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global cancer diagnostics market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)