The study further explores and provides an in-depth analysis of current market dynamics and recent trends, focusing on various key factors and potential growth opportunities and risks. The report focuses on leading regions and their major countries to anticipate market growth in the forecast years.
The global cancer diagnostics market size reached USD 140.20 Billion in 2022 and is expected to register a revenue CAGR of 8.3% during the forecast period, according to latest analysis by Emergen Research. Rising prevalence of cancer such as lung cancer and breast cancer across the globe, rapid implementation of advanced molecular diagnostic techniques for early detection and diagnosis of cancers, and increasing funding by companies and government initiatives for clinical studies and diagnosis of cancers are some of the key factors driving revenue growth of the cancer diagnostics market.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the Cancer Diagnostics market. Also, to arrive at an accurate and unbiased market forecast, data collected from secondary research sources have been analyzed and validated through primaries.
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The report emphasizes the demands and trends for the Cancer Diagnostics market in the global market, more importantly, in the market that is spread across the major regions of the country. These major regions include North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The Cancer Diagnostics market is further segmented on the basis of product types offered in the market, application spectrum, leading manufacturers/companies, and key geographical regions.
The major companies Covered in the report are:
- Hoffman-La Roche Ltd., QIAGEN., Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., Becton, Dickinson and Company, Merck KGaA, Siemens, Danaher Corporation, and Koninklijke Philips N.V.
Significant Features of the Cancer Diagnostics Market Report:
- The instruments segment accounted for the largest revenue share in 2022. These are some of the benefits which are driving revenue growth of the segment. Cancer diagnostics are being developed more quickly due to advances in molecular diagnostics, such as next-generation sequencing, companion diagnostics for the creation of innovative anti-cancer medications, and re-biopsy for the use of novel therapeutic approaches.
- The discovery of the molecular genetic diagnostic procedures of numerous oncological malignancies and the rise in molecularly therapeutic strategies have signaled the development of the role of molecular genetic-based approaches. The cost of sequencing one human genome has significantly lowered over the past 20 years as well.
- Molecular profiling utilizing Chromosomal Microarray Assessment, such as Reveal Single Nucleotide Polymorphisms (SNP) Oncology or SNP array, is proven and medically important for persons with acute leukemia, as is the application of a Next Generation Sequencing profile test to detect minimal residual disease for cancers. These factors are considerably driving revenue growth of this segment.
- The lung cancer segment is expected to register a steady CAGR during the forecast period. According to the American Cancer Society, there will be about 127,070 lung cancer fatalities and about 238,340 additional cases of lung cancer in the U.S. in 2023 (117,550 males and 120,790 women) (67,160 in men and 59,910 in women).
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Emergen Research has segmented the global cancer diagnostics market on the basis of cancer type, product type, technology type, end-use, and region:
- Cancer Type Outlook (Revenue, USD Billion; 2019-2032)
- Breast Cancer
- Lung Cancer
- Colorectal Cancer
- Cervical Cancer
- Prostate Cancer
- Product Type Outlook (Revenue, USD Billion; 2019-2032)
- Technology Type Outlook (Revenue, USD Billion; 2019-2032)
- IVD testing
- Imaging Technology
- End-Use Outlook (Revenue, USD Billion; 2019-2032)
- Specialty Cancer Centers & Clinics
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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2022–2032
Chapter 3. Key Insights
Chapter 4. Cancer Diagnostics Market Segmentation & Impact Analysis
4.1. Industrial Outlook
4.1.1. Market indicators analysis
4.1.2. Market drivers’ analysis
220.127.116.11. Rising focus on development of sustainable and eco-friendly products
18.104.22.168. Increasing adoption of water based adhesives in packaging and footwear industries
22.214.171.124. Increasing usage of acrylic dispersion adhesives in the construction industry
4.1.3. Market restrains analysis
126.96.36.199. Low storage capability due to perishability
188.8.131.52. High competition from hot melt adhesives
4.2. Technological Insights
4.3. Regulatory Framework
4.4. Porter’s Five Forces Analysis
4.5. Competitive Metric Space Analysis
4.6. Price Trend Analysis
4.7. Covid-19 Impact Analysis
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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