Cancer Diagnostics Market accounted for US$ 1.39 billion in 2020 and is estimated to be US$ 46.29 billion by 2030 and is anticipated to register a CAGR of 11.50%. Cancer is a disease in which the uncontrolled division of cells in the part of the body is combined to form tumors. Cancer can be diagnosed by a variety of tests such as scans, endoscopy, tumor market tests, biopsies, complete blood count, and magnetic resonance imaging. Diagnostic testing is used to rule out the existence of illness or validate, in which progress of disease is monitor and schedule, also review treatment outcomes. Cancer can cause due to excess consumption of tobacco, unhealthy lifestyle, alcohol, lack of physical fitness, and many more. If cancer is detected early then the mortality can be reduced. Early detection of cancer diagnosis, in which screening, and accuracy are more important. There are one of the methods that help to identify proteins and biomarker that helps to suspect the presence of cancer.
The report " Global Cancer Diagnostics Market, By Method (Enzyme-Linked Immunosorbent Assay (ELISA), Enzyme-Linked Fluorescent Assay (ELFA), Polymerase Chain Reaction (PCR), Next Generation Sequencing (NGS), Immunohistochemistry, Microarray, Imaging, Magnetic Resonance Imaging (MRI), Computed Tomography (CT scan), Positron Emission Tomography (PET), Ultrasound, Mammography, Biopsy, and Others), By Disease Indication (Breast cancer, Colorectal cancer, Cervical cancer, Lung cancer, Prostate cancer, Skin cancer, Blood cancer, Kidney cancer, Liver cancer, Pancreatic cancer, Ovarian Cancer, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) - Trends, Analysis, and Forecast till 2030”
Key Highlights:
· On 10 October 2021, Apollo hospitals launched Varian's TrueBeam radiotherapy system to treat cancer. It is an intelligent software solution for interventional oncology at Apollo health city campus and Apollo cancer institute which is in Hyderabad.
· In 2020, GE Healthcate entered into partnership with GenesisCare to improve patient outcomes for the two biggest health burdens globally, cancer and heart disease. GE Healthcare will provide CT, MRI, PET/CT, SPECT, digital mammography, and ultrasound equipment to GenesisCare’s 440 cancer and cardiovascular disease treatment centers across Australia, the US, the UK, and Spain
· In 2020, Roche Diagnostics entered into partnership with Illumina to provide broad access to clinical oncology next-generation sequencing
Analyst View:
Increasing prevalence and incidences of various types of cancer like lung cancer and breast cancer, help the cancer diagnostics market to grow significantly during the forecast period. The surge in technological advancements aiding in imaging of cancerous cells, increase in efficiency of the result help to identify the type of cancer, the cancer diagnostics industry to procure traction during the forecast period. Rising government initiatives and private organizations to spread awareness regarding early diagnosis and prevention of cancer are expected to boost the growth of the market. The growth of several diagnostic laboratories in developing counties has driven the market in the coming years. The lack of infrastructure in rural areas, lack of awareness regarding the disease, and high costs associated with the diagnosis of cancer are the restrain of the cancer diagnostics market.
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Key Market Insights from the report:
Global Cancer Diagnostics Market accounted for US$ 1.39 billion in 2020 and is estimated to be US$ 46.29 billion by 2030 and is anticipated to register a CAGR of 11.50%. The Global Cancer Diagnostics Market is segmented by Method, Disease Indication, and Region.
· By Method, the Global Cancer Diagnostics Market is segmented into Enzyme-Linked Immunosorbent Assay (ELISA), Enzyme-Linked Fluorescent Assay (ELFA), Polymerase Chain Reaction (PCR), Next Generation Sequencing (NGS), Immunohistochemistry, Microarray, Imaging, Magnetic Resonance Imaging (MRI), Computed Tomography (CT scan), Positron Emission Tomography (PET), Ultrasound, Mammography, Biopsy, and Others.
· By Disease Indication, the market is segmented into Breast cancer, Colorectal cancer, Cervical cancer, Lung cancer, Prostate cancer, Skin cancer, Blood cancer, Kidney cancer, Liver cancer, Pancreatic cancer, Ovarian cancer, and Others.
· By region, the Global Cancer Diagnostics Market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East, and Africa.
Competitive Landscape:
Key players in the global cancer diagnostics market includes, Thermo Fisher Scientific Inc., Hoffmann-La Roche Ltd., Abbott Laboratories, Becton, Dickinson and Company, Agilent Technologies, Inc., Roche Diagnostics GmbH, QIAGEN N.V., Illumina, Inc., Eli Lilly and Co., and Philips Healthcare Informatics, Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
