Cancer Diagnostics Market Size, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

  • TBI672251
  • August 01, 2019
  • Global
  • 132 pages
  • HCCResearch
                                          

Abstract, Snapshot, Market Analysis & Market Definition: Global Cancer Diagnostics Market

The global Cancer Diagnostics market size is projected to reach US$ 248.11 billion by 2026, from US$ 165.32 billion in 2020, at a CAGR of 7% during 2021-2026. Growing prevalence of oncologic cases, constant technological advancements in diagnostics, and increasing demand for effective screening tests are some of the prime factors spurring demand for screening tools and techniques across the world. Rising awareness and supportive government initiatives are some additional factors anticipated to boost market growth during the forecast period. Cancer is one of the leading causes of deaths across the world and prevalence of the disease has been escalating at an alarming rate. Therefore, healthcare professionals are focusing on development of effective diagnostic and treatment solutions to check prevalence level. Early detection increases the success rate of treatment regimens. As a result, healthcare agencies and market players, through various awareness programs, are promoting routine checkups. Although various screening procedures, such as lab tests, imaging, and endoscopy, enable disease detection at an early stage, there are certain risk factors posed by medical imaging. These include excessive radiation exposure and administration of fluorescent and barium contrast media in imaging and endoscopic procedures, which cause several adverse effects such as nausea and diarrhea. In addition, the cost entailed in performing diagnosis is relatively high. Thus, the untoward effects associated with imaging solutions, coupled with the high cost of diagnosis, are anticipated to hinder market growth.

Market Segmentation, Outlook & Viewpoint: Global Cancer Diagnostics Market

Type Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2026)

  • Laboratory Tests
  • Genetic Tests
  • Imaging
  • Endoscopy
  • Biopsy
  • Others (barium enema)

Application Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2026)

  • Breast Cancer
  • Colorectal Cancer
  • Cervical Cancer
  • Lung Cancer
  • Prostate Cancer
  • Skin Cancer
  • Blood Cancer
  • Kidney Cancer
  • Liver Cancer
  • Pancreatic Cancer
  • Ovarian Cancer
  • Others

Key Players, Recent Developments & Regional Insights: Global Cancer Diagnostics Market

The imaging segment led the market with the largest share in 2018 and is expected to maintain its prominence throughout the forecast period. Imaging modalities such as Computed Tomography (CT) scan and Magnetic Resonance Imaging (MRI) are quick, non-invasive, and pain-free diagnostic solutions. These imaging modalities are used as supportive tests along with other laboratory and genetic tests to determine the location and severity of the condition in diagnosing a variety of cancer types, thereby assisting in the selection of an appropriate treatment regimen. These factors are likely to drive the imaging segment at a CAGR of 8.0% over the forecast period. In 2018, in terms of revenue share, the laboratory and genetic test segments were at par as both tests are performed in tandem to confirm the presence or absence of tumor cells and genetic mutations, respectively. Laboratory tests include testing of blood, urine, other body fluids, or tissue for the presence of certain biomarkers, while genetic tests include detection of genetic aberrations in DNA and RNA samples taken from tumors. Not all commercially available tests enable a conclusive medical diagnosis when performed alone. Hence, laboratory and genetic testing are performed simultaneously to yield an accurate diagnosis of the underlying medical condition.

Application Insights

The breast cancer segment captured the largest share of 14.0% in 2018 in the cancer diagnostics market. Mammography is the most common and popular screening test employed for breast tumor screening. According to the United States Preventive Services Task Force (USPSTF), women aged between 50 and 74 years are at a higher risk of developing breast cancer. Thus, USPSTF recommends women above 40 years of age to undergo mammography every two years. In addition, many organizations such as the National Breast Cancer Foundation, Inc. are undertaking initiatives to spread awareness regarding breast cancer, benefits of early detection, and available treatment options. Increasing cognizance of the population, coupled with campaigns promoting routine mammography, is resulting in high demand for imaging solutions in breast cancer screening. On the other hand, surging consumption of tobacco and alcohol is resulting in increased prevalence of tumor in the liver and kidney. Thus, demand for liver and kidney cancer screening is anticipated to rise significantly in the coming years.

Regional Insights

North America dominated the market by capturing the largest revenue share of 42.0% in 2018. Presence of numerous biotechnology as well as medical device companies in the region is one of the prime factors driving the diagnostics sector in the region. North America is expected to continue its lead throughout the forecast period owing to factors such as greater funding available for research and development projects and high adoption of advanced technologies. Asia Pacific is expected to exhibit the highest growth in the near future due to presence of a large patient pool, availability of skilled technicians at a comparatively lower price, and a defined regulatory framework favoring expedited product approvals. Furthermore, the booming medical tourism industry in countries such as India, China, and Malaysia are expected to boost demand for oncological screening. In addition, favorable government policies supporting the growth of the manufacturing industry, coupled with lower manufacturing costs in countries such as India and China, are expected to attract the attention of global players to set up their production plants in these countries. In addition, the expected rise in patient base in Asia Pacific is anticipated to boost market growth in the near future.

Cancer Diagnostics Market Share Insights

Major players competing in the industry include but are not limited to GE Healthcare; Abbott; F. Hoffmann-La Roche Ltd; and Siemens Healthcare GmbH. These companies hold a strong position in the global market mainly due to adoption of innovative products and their high R&D efforts to introduce advances in the same. Some other players operating in the market are Becton, Dickinson & Company; Illumina, Inc.; Koninklijke Philips N.V.; and Hologic, Inc. Competition in the market is expected to intensify in the near future since several companies are now focusing on their research endeavors and introducing new diagnostic methods through product portfolio expansions and mergers and acquisitions.

Key Insights Covered: Global Cancer Diagnostics Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America 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. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Cancer Diagnostics industry. 4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Cancer Diagnostics industry. 5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Cancer Diagnostics industry.

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 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 other

Table of Contents 
Chapter 1 Methodology and Scope
  1.1 Market Segmentation & Scope
  1.2 Market Definition
  1.3 Information Procurement
      1.3.1 Purchased database
       1.3.2. HCC’s Internal Database
      1.3.3 Secondary sources & third party perspectives
      1.3.4 Primary research
  1.4 Information Analysis
      1.4.1 Data Analysis Models
  1.5 Market Formulation & Data Visualization
  1.6 Data Validation & PublishingChapter 2 Executive Summary
  2.1 Market Outlook
  2.2 Segment Outlook
  2.3 Competitive InsightsChapter 3 Market Variables, Trends & Scope
  3.1 Market Lineage Outlo
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