Cancer Diagnostics Market
Cancer Diagnostics Market Forecasts to 2028 – Global Analysis By Technology (Instrument-Based, Platform-Based Diagnostics), Application (Blood Cancer, Breast Cancer, Cervical Cancer), and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2021) |
US $17.82 BN |
|
Projected Year Value (2028) |
US $43.24 BN |
|
CAGR (2021 - 2028) |
13.5% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Fastest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Cancer Diagnostics Market is accounted for $17.82 billion in 2021 and is expected to reach $43.24 billion by 2028 growing at a CAGR of 13.5% during the forecast period. Cancer diagnostics is a method of identifying different biomarkers, proteins, and some signs that lead to the identification of the presence of a cancerous tumor. Efficient diagnostic testing is used to validate or rule out the existence of illness, monitor the progression of the disease, and schedule & review treatment outcomes. Diagnostic procedures for cancer may include imaging, tumor biopsy, laboratory tests (including tests for tumor markers), endoscopic examination, surgery, or genetic testing.
Market Dynamics:
Driver:
Development in the number of private diagnostic centers
The number of private diagnostic centers is rising across the globe as there is a rising demand for diagnostic imaging procedures and an increasing burden on public hospitals owing to the limited number of imaging modalities at their disposal. Favorable healthcare policies, coupled with high per capita healthcare spending, have created a conducive environment for the adoption of advanced cancer diagnostic technologies such as imaging. Strategies undertaken by these companies include product launches and expansion plans, which will drive market growth.
Restraint:
High cost
The rising demand for tests coupled with technological advancements with faster results and accuracy has escalated the price associated with imaging cancer diagnostics. The practice of imaging diagnostics has grown exponentially over the last decade in the industry. Though, in numerous countries, it is observed that some cancer diagnostic services are not fully covered by insurance.
Opportunity:
Recommendations for cancer screening, Introduction of novel diagnostic biomarkers
The identification of prospective cancer biomarkers has been made possible by technological developments in the field of biotechnology, and some of these biomarkers have been marketed. The introduction of novel diagnostic biomarkers is creating lucrative opportunities for the growth of the market. Moreover, to detect cancer in the early stages and bring down the mortality rate, governments in advanced countries and primary care doctors are recommending cancer screening tests for patients. The increased understanding of certain cancer biomarkers is creating a huge commercial opportunity for treating cancer patients through improved detection technology and equipment.
Threat:
Insufficient reimbursement policies
Inadequate reimbursement policies are predictable to threaten the growth of the market. There have been numerous advancements in radiology concerning imaging equipment in the recent past. Moreover, most medical insurance companies do not offer reimbursement for procedures using Computer-aided Detection (CAD). Thus, people tend to choose conventional methods for diagnosis such as biopsy, pathological tests, or conventional imaging methods such as mammography, and MRI procedures.
Breast Cancer segment is expected to be the largest during the forecast period
The breast cancer category is the largest segment in the market, due to upsurge in older women population and increase in breast cancer prevalence between the women. Moreover, the market will gain traction owing to an increase in the number of initiatives conducted by numerous groups are some of the factor foster the segment growth.
The Hospital Associated Labs segment is expected to have the highest CAGR during the forecast period
The hospitals segment accounted for the largest share of the market, owing to the increasing number of in-house diagnostic procedures performed in hospitals, the growing number of patients visiting hospitals, and rising consciousness regarding early diagnosis is the major driving factor for this market.
Region with highest share:
The North America is projected to hold the highest market share, owing to developed healthcare infrastructure, government initiatives toward public health care are expected to drive this dominance. Moreover, the rise in cancer cases, the presence of key manufacturers, well-established healthcare infrastructure, and rising awareness regarding cancer and its proper management. The additionally rising presence of numerous biotechnology as well as medical device companies, rising greater funding available for research and development projects, and high adoption of advanced technologies in this province are some of the factors driving the market growth in the province.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR, The growth is accredited to the rise in the medical tourism market, and the increase in the prevalence of cancer disease in countries of this area is favouring the market growth. The Asia Pacific is also flourishing owing to medical tourism, increasing awareness, and investment in private diagnostic centers. This is owing to the presence of a huge patient population, a well-defined regulatory system that favours fast product approvals, and the accessibility of qualified personnel at a reduced cost.
Key players in the market:
Some of the key players profiled in the Cancer Diagnostics Market include Abbott Diagnostics, Agilent Technologies, Inc., Becton, Dickinson and Company, bioMérieux, C.R. Bard, Inc., F. Hoffmann-La Roche Ltd., GE Healthcare (A Subsidiary of General Electric Company), Hologic,Inc, Illumina, Inc, Koninklijke Philips N.V, Qiagen, Roche Diagnostics, Siemens Healthcare GmbH, Thermo Fisher Scientific, Inc.
Key developments:
In July 2020: F. Hoffmann-La Roche Ltd launched the uPath PD-L1 image analysis for non-small cell lung cancer, which is an automated digital pathology algorithm.
In November 2021: Hologic, Inc. commercially launched its new Genius™ Digital Diagnostics System in Europe. The Genius Digital Diagnostics System is the next generation of cervical cancer screening that combines deep learning-based artificial intelligence (AI) with advanced volumetric imaging technology to help identify pre-cancerous lesions and Cervical Cancer cells in women.
In March 2021: Agilent Technologies Inc. acquired Resolution Bioscience, to reinforce its headship position in cancer diagnostics and in September 2020, Illumina, Inc. acquired GRAIL to launch a new phase of a cancer diagnosis. This acquisition is aimed to accelerate the adoption and commercialization of transformative multi-cancer diagnosis test with the prospective to detect more cancers earlier and enable better outcomes..
Technology’s Covered:
• Instrument-Based
• Platform-Based Diagnostics
• Tumor Biomarkers Tests
Applications Covered:
• Blood Cancer
• Breast Cancer
• Cervical Cancer
• Colorectal Cancer
• Kidney Cancer
• Liver Cancer
• Lung Cancer
• Melanoma
• Ovarian Cancer
• Pancreatic Cancer
End Users Covered:
• Hospital Associated Labs
• Diagnostic Laboratories
• Cancer Research Institutes
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Cancer Diagnostics Market, By Technology
5.1 Introduction
5.2 Instrument-Based
5.2.1 Biopsies
5.2.1.1 Bone Marrow Biopsy
5.2.1.2 Endoscopic Biopsy
5.2.1.3 Needle Biopsy
5.2.2 Liquid Biopsy
5.2.3 Diagnostic Imaging
5.2.3.1 Ultrasound
5.2.3.2 Mammography
5.2.3.3 Magnetic Resonance Imaging (MRI)
5.2.3.4 Computed Tomography (CT) `
5.2.3.5 Positron Emission Tomography (PET)
5.2.3.5.1 Standalone Positron Emission Tomography `
5.2.3.5.2 Hybrid Positron Emission Tomography
5.3 Platform-Based Diagnostics
5.3.1 Polymerase Chain Reaction (PCR)
5.3.2 Next-Generation Sequencing (NGS)
5.3.3 Microarrays
5.3.4 In Situ Hybridization (ISH)
5.3.5 Immunohistochemistry (IHC)
5.3.6 Flow Cytometry
5.4 Tumor Biomarkers Tests
5.4.1 Alpha-Fetoprotein (AFP) Tests
5.4.2 Alkaline Phosphatase (ALP) test
5.4.3 Breast Cancer (BRCA) Gene Test
5.4.4 CA-19 Tests
5.4.5 Carcinoembryonic Antigen) Test
5.4.6 Circulating Tumor Cell (CTC) Test
5.4.7 EGFR Mutation Tests
5.4.8 Human Epidermal Growth Factor Rceptor 2 (HER2)
5.4.9 Kirsten Rat Sarcoma Virus (KRAS) Mutation Tests
5.4.10 Prostate-Specific Antigen (PSA) Test
6 Global Cancer Diagnostics Market, By Application
6.1 Introduction
6.2 Blood Cancer
6.3 Breast Cancer
6.4 Cervical Cancer
6.5 Colorectal Cancer
6.6 Kidney Cancer
6.7 Liver Cancer
6.8 Lung Cancer
6.9 Melanoma
6.10 Ovarian Cancer
6.11 Pancreatic Cancer
7 Global Cancer Diagnostics Market, By End User
7.1 Introduction
7.2 Hospital Associated Labs
7.3 Diagnostic Laboratories
7.4 Cancer Research Institutes
8 Global Cancer Diagnostics Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Abbott Diagnostics
10.2 Agilent Technologies, Inc.
10.3 Becton, Dickinson and Company
10.4 bioMérieux
10.5 C.R. Bard, Inc.
10.6 F. Hoffmann-La Roche Ltd.
10.7 GE Healthcare (A Subsidiary of General Electric Company)
10.8 Hologic,Inc.
10.9 Illumina, Inc.
10.10 Koninklijke Philips N.V.
10.11 Qiagen
10.12 Roche Diagnostics
10.13 Siemens Healthcare GmbH
10.14 Thermo Fisher Scientific, Inc.
List of Tables
1 Global Cancer Diagnostics Market Outlook, By Region (2020-2028) (US $MN)
2 Global Cancer Diagnostics Market Outlook, By Technology (2020-2028) (US $MN)
3 Global Cancer Diagnostics Market Outlook, By Instrument-Based (2020-2028) (US $MN)
4 Global Cancer Diagnostics Market Outlook, By Biopsies (2020-2028) (US $MN)
5 Global Cancer Diagnostics Market Outlook, By Liquid Biopsy (2020-2028) (US $MN)
6 Global Cancer Diagnostics Market Outlook, By Diagnostic Imaging (2020-2028) (US $MN)
7 Global Cancer Diagnostics Market Outlook, By Platform-Based Diagnostics (2020-2028) (US $MN)
8 Global Cancer Diagnostics Market Outlook, By Polymerase Chain Reaction (PCR) (2020-2028) (US $MN)
9 Global Cancer Diagnostics Market Outlook, By Next-Generation Sequencing (NGS) (2020-2028) (US $MN)
10 Global Cancer Diagnostics Market Outlook, By Microarrays (2020-2028) (US $MN)
11 Global Cancer Diagnostics Market Outlook, By In Situ Hybridization (ISH) (2020-2028) (US $MN)
12 Global Cancer Diagnostics Market Outlook, By Immunohistochemistry (IHC) (2020-2028) (US $MN)
13 Global Cancer Diagnostics Market Outlook, By Flow Cytometry (2020-2028) (US $MN)
14 Global Cancer Diagnostics Market Outlook, By Tumor Biomarkers Tests (2020-2028) (US $MN)
15 Global Cancer Diagnostics Market Outlook, By Alpha-Fetoprotein (AFP) Tests (2020-2028) (US $MN)
16 Global Cancer Diagnostics Market Outlook, By Alkaline Phosphatase (ALP) Test (2020-2028) (US $MN)
17 Global Cancer Diagnostics Market Outlook, By Breast Cancer (BRCA) Gene Test (2020-2028) (US $MN)
18 Global Cancer Diagnostics Market Outlook, By CA-19 Tests (2020-2028) (US $MN)
19 Global Cancer Diagnostics Market Outlook, By Carcinoembryonic Antigen) Test (2020-2028) (US $MN)
20 Global Cancer Diagnostics Market Outlook, By Circulating Tumor Cell (CTC) Test (2020-2028) (US $MN)
21 Global Cancer Diagnostics Market Outlook, By Epidermal Growth Factor Receptor Gene (EGFR) Mutation Tests (2020-2028) (US $MN)
22 Global Cancer Diagnostics Market Outlook, By Human Epidermal Growth Factor Rceptor 2 (HER2) (2020-2028) (US $MN)
23 Global Cancer Diagnostics Market Outlook, By Kirsten Rat Sarcoma Virus (KRAS) Mutation Tests (2020-2028) (US $MN)
24 Global Cancer Diagnostics Market Outlook, By Prostate-Specific Antigen (PSA) Test (2020-2028) (US $MN)
25 Global Cancer Diagnostics Market Outlook, By Application (2020-2028) (US $MN)
26 Global Cancer Diagnostics Market Outlook, By Blood Cancer (2020-2028) (US $MN)
27 Global Cancer Diagnostics Market Outlook, By Breast Cancer (2020-2028) (US $MN)
28 Global Cancer Diagnostics Market Outlook, By Cervical Cancer (2020-2028) (US $MN)
29 Global Cancer Diagnostics Market Outlook, By Colorectal Cancer (2020-2028) (US $MN)
30 Global Cancer Diagnostics Market Outlook, By Kidney Cancer (2020-2028) (US $MN)
31 Global Cancer Diagnostics Market Outlook, By Liver Cancer (2020-2028) (US $MN)
32 Global Cancer Diagnostics Market Outlook, By Lung Cancer (2020-2028) (US $MN)
33 Global Cancer Diagnostics Market Outlook, By Melanoma (2020-2028) (US $MN)
34 Global Cancer Diagnostics Market Outlook, By Ovarian Cancer (2020-2028) (US $MN)
35 Global Cancer Diagnostics Market Outlook, By Pancreatic Cancer (2020-2028) (US $MN)
36 Global Cancer Diagnostics Market Outlook, By End User (2020-2028) (US $MN)
37 Global Cancer Diagnostics Market Outlook, By Hospital Associated Labs (2020-2028) (US $MN)
38 Global Cancer Diagnostics Market Outlook, By Diagnostic Laboratories (2020-2028) (US $MN)
39 Global Cancer Diagnostics Market Outlook, By Cancer Research Institutes (2020-2028) (US $MN)
Note- Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
Frequently Asked Questions
In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.
Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.
All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
We have 3 different licensing options available in electronic format.
- Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
- 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
- Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.
All our reports are typically be emailed to you as an attachment.
To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.
We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.
Request Customization
We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.
WHY CHOOSE US ?
Assured Quality
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Free Customization
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.
