- Cancer diagnostic tools are essential in the early detection, diagnosis, and monitoring of various cancer types, utilizing methods such as imaging, biopsy, tumor markers, and molecular diagnostics
- The demand for cancer diagnostics is significantly driven by the increasing global cancer incidence, growing awareness about the benefits of early detection, and technological advancements in diagnostic modalities
- North America is expected to dominate the cancer diagnostics market with largest market share of 41.18%, due to well-established healthcare infrastructure, high cancer prevalence, and significant investments in research and development
- Asia-Pacific is expected to be the fastest growing region in the cancer diagnostics market during the forecast period due to growing aging population, increased healthcare spending, and expanding access to diagnostic services
- In vitro diagnostic testing segment is expected to dominate the market with a largest market share of 52.1% due to the increasing adoption of IVD owing to rise in testing amid COVID-19 pandemic. Development of automated IVD systems for hospitals & laboratories that offer accurate, efficient, and error-free diagnosis is expected to fuel market growth
