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Abstract, Snapshot, Market Analysis & Market Definition: Cancer Diagnostics Market
Industry / Sector TrendsCancer Diagnostics Market size was valued over USD 97.2 billion in 2018 and is expected to witness more than 8% CAGR from 2019 to 2025. U.S.
Market Segmentation, Outlook & Regional Insights: Cancer Diagnostics MarketCancer Diagnostics Market, By Application, 2014 - 2025 (USD Million) Increasing incidence of cancer across the globe will stimulate the global cancer diagnostics market growth over the forthcoming period. As per the World Health Organization, cancer is the foremost cause of mortality globally, holding account for approximately 9.6 million deaths in the year 2018. Lung cancer, breast cancer and colorectal cancer forms are the most common. Oncology is associated with various comorbidities and its timely diagnosis and therapy is required for better quality of life. Thus, with growing burden of cancer coupled with various risk factors including obesity, unhealthy lifestyle, hormone replacement therapy among others, the demand for cancer tests will significantly boost over the coming years. Technological advancements in target disease screening tests will positively impact cancer diagnostics industry size. Recent advances including liquid biopsy technique is driving the demand for oncology diagnostics. Liquid biopsy allows detection of cancer through multiple markers present in the blood, saliva, or urine of the cancer patient and is an advanced tool in cancer detection. Additionally, liquid biopsy is non-invasive in nature, that further increase the customer preference for the cancer test. Other emerging technologies such as next-generation sequencing and breath biopsy/volatile organic compound profiling, providing novel approaches in oncology diagnosis will facilitate robust growth of non-invasive cancer diagnostics. Rising number of diagnostic and research laboratories across developing countries will expand the cancer diagnostics market growth. With growing expenditure in healthcare and infrastructure, the number of healthcare facilities is rapidly growing. For instance, diagnostic laboratories offer cost advantage in India as compared to the other nations. Such increasing facilities offer lucrative growth opportunities for cancer diagnostics business. However, risk associated with exposure to radiation for cancer diagnosis coupled with cost-intensive nature of diagnostic imaging systems may restrict the cancer diagnostics market growth over the upcoming years.
Cancer Diagnostics Market, By ApplicationCancer diagnostics imaging market accounted for the largest market share of over 65% in 2018. High segmental share can be attributed to high accuracy linked with diagnosis of cancer through imaging modalities. Besides other alternatives such as physical examination, biomarker test, biopsy and others, diagnostic imaging confirms presence of the disease. Innovations in such imaging tools further escalate the accuracy and diagnostic yield. Growing number of new market entrants in diagnostic imaging space will further contribute to the segmental growth. In situ hybridization market is estimated to progress at 10.5% CAGR during the forecast years. In situ hybridisation technique maps the genetic content of the patients cells. This technique is used to detect extra HER2 gene copies in the biopsy samples for breast cancer screening. In situ hybridisation test is accurate but is not widely available. However, rapidly rising incidence of breast cancer among other cancer types will provide momentous growth potential for in situ hybridization segment in the future years.
Cancer Diagnostics Market, By Cancer TypeGermany Cancer Diagnostics Market Share, By Type, 2018 Liver-lung cancer diagnosis market held highest revenue size of USD 18.2 billion in 2018. The estimated new cases of liver and intrahepatic bile duct cancer were 42,220 in the U.S., with majority of cases in males. Metastatic liver cancer is a rare condition wherein the cancer originates in the liver and spreads to other organs in the body and may prove to be fatal. Therefore, early diagnosis of cancer is necessary to prevent mortality and hence, with rising prevalence of liver-lung cancer, the demand for cancer diagnostics will escalate over the projection timeframe. Endometrial cancer diagnostics market will progress at 8.8% CAGR over the estimation period. Endometrial cancer is commonly detected cancer form among women and accounted for more than 60,000 new cases in 2018 in the U.S. Growing pervasiveness of risk factors including high obesity prevalence, hypertension and diabetes due to changing lifestyle habits account for primary factors for cancer development. Furthermore, availability of advanced diagnostic tools for detection of endometrial cancer will impel the segmental growth in the forthcoming years.
Cancer Diagnostics Market, By End-useHospital segment accounted for over 40.0% market share in 2018. Significant revenue size can be attributed to availability of latest technologies in hospitals along with skilled healthcare professionals. Hospitals have broad portfolio of diagnostic tests. Presence of numerous reimbursement policies and healthcare coverage provided in the U.S. hospitals for cancer prevention and early diagnosis will drive business growth. Cancer research institutes segment will witness robust growth at 9.4% CAGR over the forecast timeframe. Research institutes focus on novel techniques to detect specific disease in real-time. Therefore, numerous industry players are collaborating with cancer research institutes to strengthen its R&D, assisting in new product development. Furthermore, growing investment in healthcare R&D by the government in emerging economies will spur the segmental growth over the future years.
Cancer Diagnostics Market, By RegionAsia Pacific Cancer Diagnostics Market Share, by Country, 2025 (USD Million) U.S. cancer diagnostics market held USD 36.4 billion revenue size in 2018. High disease burden forms the major factor impacting the market in the country. As per the American Cancer Society, an estimated 606,880 deaths will occur due to cancer in 2019, across the U.S. With rising pervasiveness of cancer, the demand for early diagnosis and treatment will significantly grow in the coming years. Presence of accurate and sensitive cancer screening and diagnostics in the nation will support the market growth. Also, numerous state federations are funding for the Cervical Cancer Early Detection Program, further aiding the cancer diagnostics market growth. Moreover, availability of personalized and state-of-art cancer screening facilities will offer robust potential to the U.S. cancer diagnostics industry growth over the future years. Indian market will foresee momentous growth at a pace of 9.0% over the projection timeframe. Rising adoption of sedentary lifestyle, high consumption of sugar-rich food, hormone replacement therapies and lesser child-bearing are few risk factors primarily contributing to cancer development. Breast cancer is the most common form of cancer in India among women. With increasing cancer incidence, there is rising awareness and initiatives for breast cancer screening in rural and urban areas of India. For instance, #LosingIsNotAnOption, an initiative taken by a collaboration between Tata Trusts, Swasth India Foundation and Prashanti Cancer Care Mission is focused at providing breast cancer screening to women through mobile vans for early cancer diagnosis at inexpensive costs. Additionally, growing number of diagnostic laboratories and cancer research institutes further augment the business growth.
Key Players, Recent Developments & Sector Viewpoints: Cancer Diagnostics MarketFew of the key industry players of global cancer diagnostics market are Abbott Laboratories, Becton, Dickinson and Company (BD), GE Healthcare, Janssen Diagnostics, Roche Diagnostics, Siemens Healthineers, and others. Industry players are undertaking strategic initiatives such as new technology development, acquisitions and mergers to expand their product base. Additionally, numerous companies are collaborating with diagnostics and research laboratories to gain better customer base and earn profitability.
Recent industry developments:In March 2019, Guardant Health announced its acquisition strategy for Bellwether Bio, a recent company engaged in the development of next-generation oncology diagnosis using cell-free DNA (liquid biopsy). The acquisition assisted the company to fortify its cancer diagnostics product base through novel technologies. In July 2018, Biodesix, Inc., a company involved in molecular diagnostics acquired Integrated Diagnostics, Inc. (Indi). The acquisition involved Inids XL2 test, that is its leading non-invasive oncology test for screening lung cancer, thereby offering Biodesix a competitive advantage and expanding its product portfolio.
Cancer Diagnostics Industry ViewpointThe foremost cancer diagnosis can be dated back to the 1920s, that was developed by George Papanicolaou. The first cancer test that was commonly deployed in detection of cervical cancer was the Pap test. The test potential in cancer screening was presented in 1923 by its developer. Later, in 1960s, the American Cancer Society promoted the test, thereby lead to a sharp decline in mortality rate due to cervical cancer. Gradually, other oncology screening methods were developed with official recommendation of mammography technology in the 1976. Numerous cancer diagnostic tools were launched subsequently. Currently, scientists are focusing on advancing cancer diagnostics via non-invasive techniques such as liquid biopsy and Immunohistochemistry to overcome the ill effects due to radiation from imaging diagnostics for cancer. Thus, expanding diagnostics facilities, increasing expenditure on R&D and development of precise and sensitive diagnostics will offer attractive opportunities for cancer diagnostics industry growth, especially in emerging economies during the foreseeable future.
Key Insights Covered: Exhaustive Cancer Diagnostics Market1. Market size (sales, revenue and growth rate) of Cancer Diagnostics industry. 2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Cancer Diagnostics industry. 3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Cancer Diagnostics industry. 4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Cancer Diagnostics industry.
Research Methodology: 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 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 a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
1 Report Overview 1.1 Research Scope 1.2 Major Manufacturers Covered in This Report 1.3 Market Segment by Type 1.3.1 Global Cancer Diagnostics Market Size Growth Rate by Type (2019-2025) 1.4 Market Segment by Application 1.4.1 Global Cancer Diagnostics Market Share by Application (2019-2025) 1.5 Study Objectives 1.6 Years Considered 2 Global Growth Trends 2.1 Production and Capacity Analysis 2.1.1 Global Cancer Diagnostics Production Value 2014-2025 2.1.2 Global Cancer Diagnostics Production 2014-2025 2.1.3 Global Cancer Diagnostics Capacity 2014-2025 2.1.4 Global Cancer Diagnostics Marketing Pricing and Trends 2.2 Key Producers Growth Rate (CAGR) 2019-2025 2.2.1 Global Cancer Diagnostics Market Size CAGR of Key Regions 2.2.2 Global Cancer Diagnostics Market Share of Key Regions 2.3 Industry Trends 2.3.1 Market Top Trends 2.3.2 Market Drivers 3 Market Share by Manufacturers 3.1 Capacity and Production by Manufacturers 3.1.1 Global Cancer Diagnostics Capacity by Manufacturers 3.1.2 Global Cancer Diagnostics Production by Manufacturers 3.2 Revenue by Manufacturers 3.2.1 Cancer Diagnostics Revenue by Manufacturers (2014-2019) 3.2.2 Cancer Diagnostics Revenue Share by Manufacturers (2014-2019) 3.2.3 Global Cancer Diagnostics Concentration Ratio 3.3 Cancer Diagnostics Price by Manufacturers 3.4 Key Manufacturers Cancer Diagnostics Plants/Factories Distribution and Area Served 3.5 Date of Key Manufacturers Enter into Cancer Diagnostics Market 3.6 Key Manufacturers Cancer Diagnostics Product Offered 3.7 Mergers & Acquisitions, Expansion Plans 4 Market Size by Type 4.1 Production and Production Value for Each Type | read more...