Cancer Diagnostics Market Share, Size, Latest Update, Growth, Industry, Analysis, Development and Demand Forecast 2021-2030

In a recent published report, Kenneth Research has updated the market report for Cancer Diagnostics Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Cancer Diagnostics Market products.

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According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.

Global Cancer Diagnostics Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts: 2018–2024
Overview: Cancer diagnostic testing involves tests and procedures that confirms the presence of disease and identify the correct tumor type, location, extent and stage which will help physician to give the appropriate treatment. Biopsy, imaging tests, nuclear medicine scans, tumor biomarker tests are some of the diagnostic tests used for cancer diagnostics. According to the estimation of National cancer institute, in US around 1.6 million new cases of cancer are diagnosed, and 595,690 people have died due to cancer in 2016. Canada has estimated 202,400 new cases of cancer and nearly 78,000 deaths according to Canadian cancer society in 2016. While in Europe, 1.3 million people were diagnosed in 2015. According to National cancer institute, nearly 60% new cases of cancer are from Asia, Africa, Central and South American countries and nearly 70% of cancer deaths are also from this region. China has witnessed 4.3 million new cases of cancer and 2.8 million deaths in 2015. According to Indian council for medical research, India accounts for 1.4 million new cases of cancer and 736,000 cancer related death in 2016.

The cancer diagnostics market is booming due to increasing incidence of cancer globally, growing elderly population across the globe, increased use of personalized medicine in clinical practice, and development of new novel technologies such as nanotechnology. However, lack of skilled labors and high cost of diagnosis are some of the factors hampering the market growth to an extent.

Market Analysis: The “Global Cancer Diagnostics Market” is estimated to witness a CAGR of 11.6% during the forecast period 2018–2024. The market is analyzed based on four segments – method of diagnosis, application, end-user and regions.

Regional Analysis: The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). The North America is set to be the leading region for the cancer diagnostics market growth followed by Europe, Asia Pacific and Rest of the World. 

Method of diagnosis Analysis: The global Cancer Diagnostics market by method of diagnosis is segmented into tumor biomarker tests, tissue diagnostics (biopsy), liquid biopsy, imaging, and others. Imaging occupied the largest share in 2017, and liquid biopsy is expected to grow at a high CAGR in the coming years due to high preference of molecular based non-invasive tests, and increasing adoption of personalized medicine. Imaging is further segmented into magnetic resonance imaging, computed tomography, ultrasound, mammography, and nuclear imaging.

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Application Analysis: The global cancer diagnostics market by application is segmented into lung cancer, breast cancer, Colorectal cancer, prostate cancer and others. Lung cancer occupied the largest share in 2017, and breast cancer application is expected to be fastest growing segment during the forecasted period.

End-Users Analysis: The global cancer diagnostics market by end-users is segmented into Hospitals, diagnostic laboratories, academic & research institutes and others. Hospitals occupies a major share of cancer diagnostics market in 2017 and is expected to be same for next five years.
Key Players: F. Hoffmann-La Roche Ltd, Abbott Laboratories, Inc., Siemens Healthineers (Siemens AG), Thermo Fisher Scientific, Inc., GE Healthcare, Qiagen N.V., Agilent Technologies, Inc., Hologic, Inc., Koninklijke Philips N. V. and other predominate & niche players.

Competitive Analysis: Currently, the imaging dominates the global cancer diagnostics market. The existing leading players and other predominant market players are concentrating on this market to offer advanced products. The key market players are acquiring other companies to enhance their product portfolio and strengthen their leadership position in the market. Apart from this, key players are also launching new products to have edge in this market. For instance, in July 2017, the MEDITE Cancer Diagnostics, Inc., announced the launch of SureCyte C1 fluorogenic instant staining product universally. In April 2017, Roche announced the launch of anti-p504s (SP116) Rabbit Monoclonal Primary Antibody, for the diagnosis of prostate cancer. 

Benefits: The report provides complete details about the usage and adoption rate of cancer diagnostics products in various applications and regions. With that, key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, government initiatives toward the product adoption in the upcoming years along with the details of commercial products available in the market. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals to analyze before investing or expanding the business in this market.

Table of Contents
1.1 Industry overview 9
1.2 Total addressable market 9
1.3 Industry Trends 10
2 Report Outline 11
2.1 Report Scope 11
2.2 Report Summary 11
2.3 Research Methodology 12
2.4 Report Assumptions 12
3 Market Snapshot 13
3.1 Market Definition – Infoholic Research 13
3.2 Advantage of cancer diagnostics 13
3.3 Disadvantage of cancer diagnostics 13
3.4 Segmented Addressable Market (SAM) 14
3.5 Trends of the cancer diagnostics market 14
3.6 Related Markets 15
3.6.1 Companion diagnostics 15
3.6.2 Genetic testing 16
3.6.3 Point-of-Care Diagnostics 16
4 Market Outlook 16
4.1 Overview 16
4.2 Funding scenario 17
4.3 Market segmentation 19
4.4 PEST Analysis 19
4.5 Porter 5(Five) Forces 20
5 Market Characteristics 22
5.1 DRO – Global Cancer Diagnostics Market Dynamics 22
5.1.1 Drivers 22 Rising incidence of cancer globally 22 Growing geriatric population 23 Growing demand of personalized medicine 23
5.1.2 Opportunities 24 Revolutionary nanotechnology in cancer diagnostics 24 Increasing medical tourism 24
5.1.3 Restraints 25 High cost of diagnosis 25 Lack of skilled professionals 25
6 Method of Diagnosis: Market Size and Analysis 28
6.1 Overview 28
6.2 Tumor biomarker tests 29
6.3 Tissue diagnostics 31
6.4 Liquid biopsy 32
6.5 Imaging 33
6.5.1 Magnetic resonance imaging (MRI) 35
6.5.2 Computed tomography (CT) 35

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