Global Cancer diagnostics Market, By Type (Imaging Testing, Biomarkers Testing, In Vitro Diagnostic Testing, Biopsy, Others), Application (Lung Cancer, Breast Cancer, Colorectal Cancer, Melanoma Cancer, Prostate Cancer, Liver Cancer, Others), End-User (Diagnostic Centres, Hospitals and Clinics, Research Institutes, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
Cancer has a significant impact on society all over the world. It is one of the leading causes of death worldwide, with a higher prevalence in developed and emerging markets. The alarming rate of rising cancer prevalence compels healthcare providers to reconsider cancer treatment goals and shift their focus to prevention. Cancer diagnostics that are not only specific and sensitive, but also capable of detecting cancer in its early stages would be required.
Data Bridge Market Research analyses that the cancer diagnostics market is expected to reach the value of USD 28.21 billion by the year 2029, at a CAGR of 7.29% during the forecast period. The rise in the Cancer cases provides growth opportunities to the market.
Market Definition
Cancer diagnostics is the process of detecting various biomarkers, proteins, and symptoms that lead to the presence of a cancerous tumour in patients. The detection of specific biomarkers and proteins that are common in cancer disorders leads to the diagnosis process. The process of detecting cancer includes the use of specific technology and devices used in its diagnosis.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Imaging Testing, Biomarkers Testing, In Vitro Diagnostic Testing, Biopsy, Others), Application (Lung Cancer, Breast Cancer, Colorectal Cancer, Melanoma Cancer, Prostate Cancer, Liver Cancer, Others), End-User (Diagnostic Centres, Hospitals and Clinics, Research Institutes, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Global (APAC) in the Global (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Abbott. (US), DiagnoCure Inc. (Canada), Thermo Fisher Scientific Inc. (US), Illumina, Inc. (US), QIAGEN (Germany), F. Hoffmann-La Roche Ltd (Switzerland), Agilent Technologies, Inc. (US), Quest Diagnostics Incorporated. (US), Merck KGaA, (Germany), Hologic, Inc. (US), BD. (US), GlaxoSmithKline plc. (UK), Novartis AG (Switzerland), Bristol-Myers Squibb Company (US), Eli Lilly and Company (US), Pfizer, Inc. (US), Genomic Health, Inc. (US), bioMérieux SA (France), Astellas Pharma Inc. (Japan) and Myriad Genetics, Inc. (US)
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Cancer diagnostics Market Dynamics
Drivers
- The rise in the cases of cancer
Cancer is the world's second leading cause of death, accounting for 10 million deaths by 2020. Cancer accounts for approximately one-sixth of all deaths worldwide (Source: World Health Organization). In 2020, 19.3 million new cancer cases were reported, with that number expected to rise to 30.2 million by 2040. This increase in cancer incidence can be attributed to the growing geriatric population as well as the overall population.
- The increase in adoption of latest technologies and growth in collaborations
Rising technological advancements is the vital factor escalating the market growth, also increasing initiatives undertaken by governments and global health organizations to spread awareness about cancer, rising growth in the number of private diagnostic centers, rising public-private partnerships to enhance the infrastructure of diagnostic imaging centers, rising Fda support for biomarker development and rising launch of new flow cytometry reagents for diagnostics and drug discovery are the major factors among others driving the cancer diagnostics market..
- Government investments for healthcare interoperability
The increase in the funding by the federal government to drive the adoption of these solutions further influence the market. Additionally, the surge in healthcare expenditure, advancements in healthcare infrastructure, and high demand for expanded care delivery positively affect the cancer diagnostics market.
Opportunities
Increasing personalised medicine, mass cytometry development, and the combination of cell- and bead-based flow cytometry technologies, improving healthcare infrastructure in emerging markets, and the rise of miniaturised and technologically advanced devices will all create new opportunities for the cancer diagnostics market.
Restraints/Challenges
Rising capital investments and low benefit-cost ratio for biomarkers, rising helium shortage and rising risk of high radiation exposure likely to limit the use of CT scanners are among the major factors obstructing market growth, while rising stringent regulatory guidelines and rising adoption of refurbished diagnostic imaging systems will further challenge the growth of the cancer diagnostics market during the forecast period.
This cancer diagnostics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cancer diagnostics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Cancer diagnostics Market
National lockdowns, government regulations, and an increase in infection rates across countries all had a significant financial impact on neurology hospitals and clinics. Several hospitals and clinics have seen a decrease in patient visits as a result of COVID-19, ultimately reducing client contact. Furthermore, many cancer diagnostics have been pushed back as a result of the COVID-19 crisis. There is a global shortage of medical care for conditions other than COVID-19, which has had a negative impact on the cancer diagnostics market. At the same time, the limited availability of healthcare personnel around the world is another factor that has a negative impact on the cancer diagnostics market.
Recent Development
- Siemens Healthineers will launch Magnetom Free in November 2021. Star is a low-cost whole-body MRI scanner that is intended to improve global access to magnetic resonance imaging.
- Agilent Technologies Inc. announced in October 2021 that its PD-L1 IHC 22C3 pharmDx assay has been labelled for use in Triple-Negative Breast Cancer (TNBC) in the European Union.
Global Cancer diagnostics Market Scope
The cancer diagnostics market is segmented on the basis of type, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Image testing
- Biomarkers testing
- In vitro diagnostic testing
- others
On the basis of type, cancer diagnostics market is segmented into imaging testing, biomarkers testing, in vitro diagnostic testing, biopsy and others.
Application
- lung cancer
- breast cancer
- colorectal cancer
- melanoma cancer
- prostate cancer
- liver cancer
- others
Based on application, the cancer diagnostics market is segmented into lung cancer, breast cancer, colorectal cancer, melanoma cancer, prostate cancer, liver cancer and others.
End User
- diagnostic centers
- Research Institutes
- Hospitals
- Others
- clinics
The cancer diagnostics market is also segmented on the basis of end-user into diagnostic centers, hospitals and clinics, research institutes and others..
Cancer diagnostics Market Regional Analysis/Insights
The cancer diagnostics market is analysed and market size insights and trends are provided by country, type, application and end users as referenced above.
The countries covered in the cancer diagnostics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the cancer diagnostics market due to the increasing presence of numerous biotechnology and medical device companies, increased funding available for research and development projects, and the region's high adoption of advanced technologies. Due to rising favourable government policies supporting the growth of the manufacturing industry, as well as lower manufacturing costs in this region, Asia-Pacific is expected to be the fastest growing region in terms of cancer diagnostics market growth.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The cancer diagnostics market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for cancer diagnostics market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the cancer diagnostics market. The data is available for historic period 2010-2020.
Competitive Landscape and Cancer diagnostics Market Share Analysis
The cancer diagnostics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cancer diagnostics market.
Some of the major players operating in the cancer diagnostics market are
- Abbott. (US)
- DiagnoCure Inc. (Canada)
- Thermo Fisher Scientific Inc. (US)
- Illumina, Inc. (US)
- QIAGEN (Germany)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Agilent Technologies, Inc. (US)
- Quest Diagnostics Incorporated. (US)
- Merck KGaA, (Germany)
- Hologic, Inc. (US)
- BD. (US)
- GlaxoSmithKline plc. (UK)
- Novartis AG (Switzerland)
- Bristol-Myers Squibb Company (US)
- Eli Lilly and Company (US)
- Pfizer, Inc. (US)
- Genomic Health, Inc. (US)
- bioMérieux SA (France)
- Astellas Pharma Inc. (Japan)
- Myriad Genetics, Inc. (US)
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 analyzed and estimated 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, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Customization Available
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.
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