What is Cancer Diagnostics Market?
Cancer is a disease that causes uncontrolled growth and division of cells. Some types of cancer cause rapid cell growth of the cells while others cause cells to grow and divide at a slower rate. There are many causes of cancer such as heavy alcohol consumption, excess body weight, physical inactivity, poor nutrition etc. A cancer diagnosis is done by physical exam, laboratory studies, imaging studies and biopsy. To confirm the diagnosis of most cancers, a biopsy is done in which a tissue sample is removed from the suspected tumor and studied under a microscope to check for cancer cells.
Highlights from Cancer Diagnostics Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | GE Healthcare (United States), Abbott (United States), GlaxoSmithKline Plc. (United Kingdom), Roche Holding AG (Switzerland), Siemens Healthcare GmbH (Germany), Ambry Genetics (United States), AstraZeneca (United Kingdom), Genoptix Inc. (United States), Illumina, Inc. (United States) and Philips Healthcare (Netherlands) |
Cancer Diagnostics market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Cancer Diagnostics market throughout the forecasted period.
GE Healthcare (United States), Abbott (United States), GlaxoSmithKline Plc. (United Kingdom), Roche Holding AG (Switzerland), Siemens Healthcare GmbH (Germany), Ambry Genetics (United States), AstraZeneca (United Kingdom), Genoptix Inc. (United States), Illumina, Inc. (United States) and Philips Healthcare (Netherlands) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Hologic, Inc. (United States), Eli Lilly and Company (United States), Becton Dickinson & Company (United States) and Pfizer (United States). Cancer Diagnostics Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Hospitals, Diagnostic Laboratories, Diagnostic Imaging Centers, Cancer Research Institute and Other |
Type | Platform-based and Instrument-based |
Method | Biopsy,Endoscopy,Tumor Biomarker Tests,Imaging |
Cancer | Leukemia,Colon and Rectal,Liver,Melanoma,Endometrial,Other |
On the basis of geography, the market of Cancer Diagnostics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancements in Diagnostics
Market Growth Drivers:
Increasing Number of Cancer Patients Worldwide, Increasing Awareness about Cancer among People and Government Initiatives about Prevention of the Disease
Challenges:
High Cost Entailed In Performing Diagnosis
Restraints:
Stringent Regulatory Framework and Prolonged Time of Approvals for Product Launching
Opportunities:
Increased Cancer-Related Deaths Worldwide and Growing Health Care Infrastructure in Developing Countries
Key Target Audience
Cancer Diagnostics Instrument Manufacturers, Research Institutes, Research Professionals, Government Body & Associations and End-user
Market Leaders & Development Strategies
In July 2022, GSK completes the acquisition of Sierra Oncology . a California-based biopharmaceutical company focused on targeted therapies for the treatment of rare forms of cancer, the acquisition of Sierra Oncology includes momelotinib, a late-stage potential new medicine with a unique dual mechanism of action that may address the critical unmet medical needs of myelofibrosis patients with anaemia.
On 31st May 2019, Roche and GE healthcare launched NAVIFY Tumor Board 2.0, the first collaboration product. Incorporating medical image viewing and storage capabilities with other patient data, the product enables tumor boards, multi-disciplinary teams who determine treatment plans for cancer patients to have a more comprehensive view of each patient in one place.