Rising incidences of cancer worldwide, technological advancements in oncological diagnostic techniques, and increasing demand for effective screening tests are some of the major factors propelling demand in the cancer diagnostics market, according to a study by IndustryARC. The report estimated the global cancer diagnostics market to have been valued at $135 billion in 2018, and projects it to increase at a CAGR of 6.2% during the forecast period 2019 to 2025.
The report titled, ‘Cancer Diagnostics Market: By Product Type (Next-generation Sequencing, Microarrays, PCR, Flow Cytometry, In situ Hybridization, Others), Cancer Type (Breast, Ovarian, Thyroid, Kidney, Blood, Prostate, Others) & By Geography – Forecast (2019 - 2025)’, describes imperative aspects of the industry including market drivers, market value chain, restraints, growth indicators, market trends, challenges, future outlook, and market insights.
Cancer Diagnostics Market: Leading Segments
In the global cancer diagnostics market, North America registered the highest share of demand at 37% in 2018. Growing usage of latest technologies for treatment, rising awareness pertaining to cancer treatment, and increase in the reported incidences of cancer coupled with easy access to highly developed healthcare infrastructure contribute to North America’s dominance in the global cancer diagnostics market. According to the National Cancer Institute, breast cancer is not only the most diagnosed type of cancer among women, it is also the most common cancer diagnosed for both genders. Key market players are thus capitalizing on this application segment, which is expected to grow at a CAGR of 28% through to 2025.
Cancer Diagnostics Market Disruptive Trends
Some of the latest disruptive trends are listed below:
· Cancer Diagnostics Augmented by Artificial Intelligence and Machine Learning:
Ongoing research pertaining to use of machine learning and natural language processing to create targeted cancer treatments, pair machine learning with computer vision, help identify tumour progression, and creating algorithms that help scientists understand how cancer develops and how to fight them is expected to boost demand for the cancer diagnostics market.
· Nanotechnology for Cancer Diagnostics:
Nanoscale devices are 100 to 10000 times smaller than human cells, which enable them to gain access to inconspicuous areas of the body in order to detect diseases and facilitate new ways of treatment.
· CAR-T cell therapy:
Chimeric Antigen Receptor Therapy (CAR-T) cell therapy, a type of immunotherapy, is one of the most promising advancements in the healthcare industry. It isolates and extracts a patient’s own T-cells, and reengineers those cells with new proteins that recognize and destroy cancer cells once they’re reinfused back into the patient’s body.
· Advanced Blood Test:
Liquid biopsies assess mutations and other changes in DNA from tumor cells in the blood, and thus provide insight during early stages of cancer. This non-invasive cancer test continues to show promise as a tool for routine cancer screenings and as a potential alternative to tumor biopsy.
Cancer Diagnostics Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority share in the global cancer diagnostics market are: BioMark Diagnostics Inc., Biotheranostics, Inc., Cancer Diagnostics, Inc., Arquer Diagnostics Ltd, Agilent Technologies, Inc., Becton, Dickinson and Company, GE Healthcare, QIAGEN N.V., Thermo Fisher Scientific, Inc., and Illumina, Inc.
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A. Cancer Hormone Therapy Market
B. Cancer Testing/Screening Market
What can you expect from the report?
The cancer diagnostics market report is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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