Cancer Testing Screening Market By Type (Diagnostics, Screening), By Cancer Type (Respiratory System Cancer, Leukemia, Myeloma & Lymphoma, Skin Cancer, Abdominal/Digestive System Cancer, Genital Cancer, Oral Cancer, Urinary System Cancer, Endocrine System Cancer, Breast Cancer, Others), By Technique (Imaging, Biopsy, Genomic & Molecular Tests (Next Generation Sequencing, RT-PCR, Microarrays, Biomarker Testing, Others), By Product Type (Molecular Diagnostics, Companion Diagnostics), By Stage (Terminal, Stage 0-4, Prognosis, Other Staging System), By Gender (Male, Female), By Geography - Global Opportunity Analysis & Industry Forecast, 2022-2027
Cancer Testing Screening Market Overview
Cancer Testing Screening Market size is projected to reach $220.66 billion by 2027 and is expected to grow at a CAGR of 6.4% during the forecast period 2022-2027. Cancer Testing and Screening are vital procedures for aid in the early detection of cancer before symptoms occur. It lowers the risk of malignant cells growing abnormally and lowers the person's mortality rates. Each type of cancer has a screening test that can help spot cancer early on. There is increasing adoption of cancer screening tests, particularly in countries with the highest cancer rates. The improved research and development activities coupled with the increasing public awareness of cancer diseases are all predicted to create a new window of opportunities in the global cancer Testing screening market. However, COVID-19 has restrained the market growth. The lack of adequate supplies needs for more service providers added to the crises, thereby restraining the market growth.
Cancer Testing Screening Market Report Coverage
The report: “Cancer Testing Screening Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Cancer Testing Screening Market.
By Type: Diagnostics,
By Cancer Type: Respiratory System Cancer, Leukemia, Myeloma and Lymphoma, Skin Cancer, Abdominal/Digestive System Cancer, Genital Cancer, Oral Cancer, Urinary System Cancer, Endocrine System Cancer, Breast Cancer, Others.
By Technique: Imaging, Biopsy, Genomic and Molecular Tests (Next Generation Sequencing, RT-PCR, Microarrays, Biomarker Testing, Others.
By Product Type: Molecular Diagnostics, Companion Diagnostics.
By Stage: Terminal, Stage 0-4, Prognosis, Other Staging System.
By Gender: Male, Female.
By Geography: Americas (U.S, Canada, Brazil, Rest of Americas), Europe (U.K, Germany, France, Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, and South Korea), and Rest of the World (Middle East, Africa).
- Geographically, The Americas Cancer Testing Screening market accounted for the highest revenue share in 2021, followed by Europe. This is owing to the steady rise of Lung and Prostate Cancer cases in both regions which are being driven by the adoption of unhealthy lifestyles such as excessive alcohol consumption and smoking.
- The increasing number of cancer cases around the world is unfortunate. However, it is beneficial to the cancer screening industry. The industry is also being propelled forward by Increased research and development (R&D) to develop effective cancer treatments and early detection. Innovative technologies including positron emission mammography, spectroscopy-enhanced colonoscopy, and hyperpolarization MRI, among others, are improving screening efficiency.
- Cancer Testing Screening Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Cancer Testing Screening Market report.
Cancer Testing Screening Market: Market Share (%) by Region, 2021
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Cancer Testing Screening Market Segment Analysis – By Cancer Type
The Cancer Testing Screening Market based on Cancer Type can be segmented into Respiratory System Cancer, Leukemia, Myeloma, and Lymphoma, Skin Cancer, Abdominal/Digestive System Cancer, Genital Cancer, Oral Cancer, Urinary System Cancer, Endocrine System Cancer, Breast Cancer, and Others. Abdominal/Digestive system cancer had the largest share in the cancer testing screening market in 2021 and is expected to grow at a CAGR of 5.9% owing to the rise in consumption of processed food and alcohol. Additionally, the increase in the global geriatric population has generated demand for imaging devices for early detection and treatment of Abdominal cancer, thereby driving the segment. According to the Organization of the United Nations, the proportion of people aged 65 and up in the global population climbed from 6% in 1990 to 9% in 2019. By 2050, that percentage is expected to climb to 16%, implying that one in every six individuals on the planet is predicted to be 65 or older.
Cancer Testing Screening Market Segment Analysis – By Technique
The Cancer Testing Screening Market based on the Technique can be segmented into Imaging, Biopsy, Genomic and Molecular Tests (Next Generation Sequencing, RT-PCR, Microarrays, Biomarker Testing, and Others. Biopsy technique dominated the Cancer testing screening Market in 2021 and is expected to grow at a CAGR of 6.2%. This is owing to its high accuracy during Cancer Diagnosis. Other Diagnostic advances, such as imaging techniques, have increased demand for cancer testing and screening. Imaging has become an important aspect of cancer detection and diagnosis, with recent advancements in tumor imaging technologies improving the diagnosis of five common cancers, including breast, lung, prostate, and colorectal cancers.
Cancer Testing Screening Market Segment Analysis – By Geography
The Cancer Testing Screening Market based on Geography can be segmented into Americas, Europe, Asia-Pacific, and the Rest of the World. Americas region dominated the cancer screening/testing market in 2021 with a market share of 41% and is growing at a CAGR of 4.5% during the forecast period 2022-2027. This is owing to the high rate of new cancer cases each year along with increased awareness amongst the masses.
However, Asia Pacific is set to be the fastest-growing segment with a CAGR of 11% during the forecast period 2022-2027. This is owing to the growing rate of endocrine, abdominal, leukemia, myeloma, and lymphoma cancers in the Asia Pacific region.
Cancer Testing Screening Market Drivers
Growing Number Of Cancer Screening Awareness Campaigns To Raise Awareness About The Importance Of Early Detection Of Breast Cancer Is To Drive Market Growth
Several governmental and commercial groups are launching various campaigns to raise awareness about the importance of early detection of breast cancer, the second most frequent cancer among women in the United States. Breast Cancer Diagnostics Market Growth Depends on Cancer Awareness Campaigns. Nations around the globe have initiated various Cancer Screening Awareness Campaigns to encourage young people to make these life-saving behaviors part of their daily routine. For example, Breast cancer campaigns, Cervical cancer awareness campaigns, Protect Your Skin campaigns, Ovarian cancer awareness campaigns and Colorectal cancer awareness campaigns are among the few impacting the growth of the cancer screening and diagnostics market. For instance, the 'Be Clear on Cancer campaign has substantially increased the number of referrals under the 2WW rule. This has increased demands on both resources (59% more tests) and finance. Cost per cancer detected rose by 27% with no increase in funding to support the increased activity.
Technological Advancements And Automation In Cancer Testing And Screening Is To Fuel Service Demand
Cancer testing has become more accurate and user-friendly as a result of technological developments and automation, which has aided industry growth. Novel screening technologies have largely been adopted owing to their ability to increase tumor detection rates. Additionally, the cancer testing & screening market is likely to be driven by the approval of novel biomarkers and increased R&D spending. The key players in the market are increasingly investing in AI-based imaging biomarkers. For instance, Brainomix has invested $21.2 million for the development of an AI platform that automates validated imaging biomarkers to improve both diagnosis and treatment decisions to build on the proven success of the company's tech platform in stroke and enable value-generating pharmaceutical partnerships. Proteomics and genomics are two OMICS technologies that will propel the cancer testing & screening industry forward.
Cancer Testing Screening Market Challenges
High Cost Of Cancer Diagnosis And Increased Financial Burden To Hamper The Market Growth
Cancer has a significant financial impact on patients and their families. Today, the estimated 16.1 million cancer patients face annual out-of-pocket medical expenses that are 61% higher than those who do not have cancer. Cancer patients had higher out-of-pocket costs than non-cancer patients, with high-deductible health plans having the greatest out-of-pocket costs. According to a report by the National Coalition of Cancer Survivorship 47% of cancer patients reported financial burden in cancer care.
Cancer Testing Screening Industry Outlook
Product Launch, Collaboration, and Acquisitions key strategies adopted by players in the Cancer Testing Screening Market. In 2020, the Cancer Testing Screening Market share is consolidated by the top ten players present in the market. In the Cancer Testing Screening Market, the top 10 companies are-
- DiaSorin S.p.A
- Immunodiagnostic Systems Holdings Ltd
- Epigenomics AG
- Quest Diagnostics Inc.
- F. Hoffmann-La Roche Ltd
- VolitionRX Limited
- Abbott Laboratories
- QIAGEN GmbH
- Siemens Healthineers AG
- Becton, Dickinson, and Company
- In January 2022, Siemens Healthineers, through its subsidiary Varian entered into a ten-year strategic partnership with Oulu University Hospital in Finland, to build a comprehensive digital, diagnostic and therapeutic ecosystem that addresses the entire cancer treatment pathway. Siemens will supply a technology and services package to Oulu University Hospital that includes cancer imaging and radiation therapy equipment, software solutions for enhanced workflow and decision support, and related support services.
- In February 2022, Becton, Dickinson, and Company acquired Cytognos, a company specializing in flow cytometry solutions for blood cancer diagnosis, minimal residual disease (MRD) detection, and immune monitoring research for blood diseases. The acquisition enables BD to enhance chronic illness management by increasing its offering of blood cancer diagnostics, immunological assessment tests, and informatics.
- In October 2021, Roche entered into a collaboration with PathAI, a global leader in artificial intelligence (AI)-powered technology for pathology. Under the agreement, the companies are to jointly develop an embedded image analysis workflow for pathologists, which can benefit cancer patients through more precise diagnosis.
Report Code: HCR 0194
Report Code: HCR 0195
Report Code: HCR 1377
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