"According to the market study of a reliable Cancer Diagnostics Market report, new highs are possible in the market for the year 2023-2030. This global market research report takes into account all the company profiles of the major players and brands. The market report makes available precise study of the Cancer Diagnostics Market industry which describes what the market definition, classifications, applications, engagements, and global industry trends are. The report also showcases important product developments and tracks recent acquisitions, mergers and research in the Cancer Diagnostics Market industry by the key players of the market. In the superior Cancer Diagnostics Market report, the market drivers and restraints have been explained aptly using SWOT analysis.
By considering definite base year and historic year, calculations in the significant Cancer Diagnostics Market business report have been carried out which interprets the market performance by providing information about what the market definition, classifications, applications, and engagements are. Few of the chief insights of this report include; distinct analysis of the market drivers and restraints, major market players involved like Cancer Diagnostics Market industry, detailed analysis of the market segmentation and competitive analysis. The facts and figures described in the large scale Cancer Diagnostics Market report aids Cancer Diagnostics Market industry in taking sound decisions and planning advertising and sales strategy more successfully.
Data Bridge Market Research analyses the cancer diagnostics market growth rate in 2023-2030. The expected CAGR of the cancer diagnostics market is around 7.70% in the mentioned forecast period. The market was valued at USD 16.7 billion in 2022 and would grow to USD 30.23 billion by 2030.
Cancer Diagnostics Market Scope and Segmentation
REPORT METRIC | DETAILS |
Forecast Period | 2023 to 2030 |
Base Year | 2022 |
Historic Years | 2021 (Customizable to 2015 - 2020) |
Quantitative Units | Revenue in USD Million, Volumes in Units, Pricing in USD |
Segments Covered | Product (Consumables, Instruments), 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) |
Countries Covered | 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 |
Market Players Covered | Abbott. (U.S.), DiagnoCure Inc. (Canada), Thermo Fisher Scientific (U.S.), Illumina, Inc. (U.S.), QIAGEN (Germany), F. Hoffmann-La Roche Ltd (Switzerland), Agilent Technologies, Inc. (U.S.), Quest Diagnostics Incorporated. (U.S.), Merck KGaA, (Germany), Hologic, Inc. (U.S.), BD. (U.S.), GSK plc. (U.K.), Novartis AG (Switzerland), Bristol-Myers Squibb Company (U.S.), Lilly (U.S.), Pfizer, Inc. (U.S.), Genomic Health, Inc. (U.S.), bioMérieux SA (France), Astellas Pharma Inc. (Japan) and Myriad Genetics, Inc. (U.S.) |
Market Opportunities |
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Market Definition
Cancer diagnostics is the process of identifying numerous proteins, biomarkers, and symptoms that lead to the presence of a cancerous tumor in patients. The detection of particular biomarkers and proteins that are common in cancer disorders causes the diagnosis process. Detecting cancer involves using particular techniques and devices used in its diagnosis. Imaging, laboratory tests, tumor biopsy, surgery, endoscopic examination, and genetic testing are all possible cancer diagnostic techniques.
Cancer Diagnostics Market Dynamics
Drivers
- Increased Developments of Diagnostic Testing Techniques
Technological advancements in diagnostic testing are expected to boost market growth during the forecast period. For instance, Hologic, Inc. announced the commercial access of the Genius Digital Diagnostics System in Europe in 2021. The next-generation cervical cancer screening system includes deep learning-based AI and innovative volumetric imaging technology to help detect cervical cancer cells and pre-cancerous lesions in women. Thus, this is expected to boost market growth.
- Growing Strategic Collaborations Associated with Cancer Diagnostics
There is a rise in collaborations and acquisitions associated with cancer diagnostics products. For instance, the Precision Cancer Consortium (PCC) collaborated with pharmaceutical companies in 2022 by allowing access to comprehensive testing for all cancer patients worldwide. The PCC runs many initiatives to increase patient access for precision diagnostics via wide-ranging genomic testing, including NGS. Thus, this boosts the market growth
Opportunities
- Increasing Number of Awareness Programs by Major Organizations
An increasing number of programs to increase awareness about malignant tumor screening in numerous organizations is a major factor responsible for the increased demand for diagnostic products globally. Numerous countries have undertaken several measures to increase screening for early screening and help patients. For instance, the Indian government has initiated the Prime Minister's National Relief Fund and Ayushman Bharat for patients needing treatment assistance. Thus, this factor boosts market growth.
- Increasing Diagnostic Testing Kit Launches For Cancer
There has been an increasing number of testing kit launches that are helping in the market growth. For instance, Sysmex Corporation launched the ipsogen JAK2 DX reagent in 2020. It is a gene testing kit that measures the JAK2V617F mutation quantitatively, which is widely used for screening blood cancers. In addition, the product gained health insurance coverage, becoming Japan's first diagnostic product to be insured in 2020. Thus, this factor helps in the growth of the market.
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Key Influence of this Cancer Diagnostics Market:
- Comprehensive assessment of all opportunities and risk in this Cancer Diagnostics Market
- This Cancer Diagnostics Market recent innovations and major events
- Detailed study of business strategies for growth of the this Cancer Diagnostics Market leading players
- Conclusive study about the growth plot of the Market for forthcoming years
- In-depth understanding of this Cancer Diagnostics Market particular drivers, constraints and major micro markets
- Favorable impression inside vital technological and market latest trends striking this Cancer Diagnostics Market
- To provide historical and forecast revenue of the Cancer Diagnostics Market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW)
- To provide country level analysis of the Cancer Diagnostics Market t with respect to the current market size and future prospective
Why choose Data Bridge Market Research?
- Modern technologies, such as artificial intelligence, to provide updated industry growth.
- DBMR team provides clients with the top notch Cancer Diagnostics Market research report.
- Interaction with research scientists and development heads to understand the nature of the Cancer Diagnostics Market more precisely.
- 24/7 availability of services.
- Data collection from implementation vendors, service providers, and raw material suppliers to provide a clear perspective with Forecast period.
DBMR team uses very fair means to gather information that is scrutinized at every stage while structuring an influential Cancer Diagnostics Market size
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