Cancer Diagnostics Market, By Type (Biomarkers Testing, Imaging Testing, In Vitro Diagnostic Testing, and Others), By Application ( Breast Cancer, Lung Cancer, Colorectal Cancer, Melanoma Cancer, Prostate Cancer, Liver Cancer, and Others), By End User (Diagnostic Centres, Hospitals and Clinics, Research Institutes, and Others), By Region Analysis - Global Analysis And Industry Forecast Report Till 2030.

The Cancer Diagnostics Market is projected to grow from $ 17 billion to $ 33 billion, at a CAGR of 11.3% in terms of revenue during the forecast period 2021-2030.

Finding biomarkers, proteins, and other signs that help identify a cancerous tumor is the process of cancer diagnostics. Diagnostic testing is used to confirm or rule out the presence of illness, monitor the course of a disease, plan and evaluate the effects of treatment, and follow disease progression. Cancer can be diagnosed using imaging, tumor biopsies, laboratory tests (including tumor marker tests), endoscopic inspection, surgery, and genetic testing.

Finding specific proteins and biomarkers that are frequently found in cancer diseases aids in the diagnosis process. Using particular tools and technologies created for cancer diagnosis is required for the technique of identifying cancer.

The field of oncology has witnessed significant advancements in recent years, particularly in cancer diagnostics and detection. The emergence of multi-cancer early detection technologies has revolutionized the oncology diagnostic market, enabling healthcare professionals to identify tumors and cancerous cells at an earlier stage. These innovative diagnostics play a crucial role in improving patient outcomes by facilitating timely interventions and personalized treatment plans. By harnessing the power of cutting-edge techniques and technologies, such as molecular profiling and liquid biopsy, oncologists can now detect cancer with higher precision and accuracy, leading to better prognoses and tailored therapeutic approaches.

Market Dynamics:

Drivers:

Cancer diagnostics is the process of finding a patient's existence of a malignant tumor by identifying a variety of proteins, biomarkers, and specific symptoms. Finding specific proteins and biomarkers that are frequently present in cancer illnesses aids in the diagnosis process. Utilizing specialized tools and technologies made for diagnosing cancer is part of the process of finding cancer.

By 2020, cancer will be the second largest cause of death globally, killing 10 million people. Around one-sixth of all deaths globally are caused by cancer (World Health Organization). There were XX million new cases of cancer recorded in 2020, and by 2030, there are projected to be XX million cases. The increasing elderly population as well as the general population can be blamed for the rise in cancer incidence.

Restraints:

The increasing capital expenditures and low benefit-cost ratio for biomarkers, as well as the growing helium shortage and rising risk of high radiation exposure, are some of the major obstacles to market development. These factors are also likely to limit the use of CT scanners. Over the course of the forecast period, the adoption of refurbished diagnostic imaging systems and increasingly strict regulatory guidelines will also present new obstacles to the development of the cancer diagnostics market.

Opportunities:

The expansion of mass cytometry, the development of miniaturized and technologically sophisticated devices, the fusion of cell- and bead-based flow cytometry technologies, the development of healthcare infrastructure in emerging markets, and the emergence of personalized medicine will all create new market opportunities for the cancer diagnostics sector.

Key Players:

• Abbott

• DiagnoCure Inc.

• Thermo Fisher Scientific Inc.

• Illumina, Inc.

• QIAGEN

• F. Hoffmann-La Roche Ltd

• Agilent Technologies, Inc.

• Quest Diagnostics Incorporated.

• Merck KGaA

• Hologic, Inc.

• BD

• GlaxoSmithKline plc.

• Novartis AG

• Bristol-Myers Squibb Company

• Eli Lilly and Company

• Pfizer, Inc.

• Genomic Health, Inc.

• bioMerieux SA

• Astellas Pharma Inc.

• Myriad Genetics, Inc.

Market Segmentation:

Cancer Diagnostics Market, By Application

• Lung Cancer

• Breast Cancer

• Colorectal Cancer

• Melanoma Cancer

• Prostate Cancer

• Liver Cancer

• Others

Cancer Diagnostics Market, By End-user

• Diagnostic Centers

• Research Institutes

• Hospitals and clinics

• Others

 Cancer Diagnostics Market, By Type

• Image Testing

• Biomarkers Testing

• In Vitro Diagnostic Testing

• Others

 Cancer Diagnostics Market, By Region Type

• North America 

• Europe 

• Asia-Pacific 

• LAMEA 

Regional Analysis:

In 2021, North America had the biggest share with over XX%. The industry in this area is being driven by key players engaging in more strategic activities. For instance, Resolve Bioscience Inc. was purchased by Agilent in March 2021. The company's capabilities in NGS-based cancer diagnostics are expanded and complemented by the purchase, which also equips the business with cutting-edge technology to meet the demands of the expanding precision medicine market.

Due to strategic moves made by key players, a significant increase in cervical screening programs run to raise awareness and screening, a rise in R&D, and technological advancements, Asia Pacific is predicted to experience the fastest growth over the forecast period.

Scope of the report:

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