Product Code: 56148
The Cancer Diagnostics Market is expected to register a CAGR of 9.7% during the forecast period. Increase in the number of cancer cases and the rise in geriatric population are the major factors which are attributing for the growth of the cancer diagnostics market, globally.
According to the World Health Organization (WHO) 2018 report, cancer is the second leading cause of death worldwide and is responsible for an estimated 9.6 million deaths in the year 2018. Globally, about 1 in 6 deaths is due to cancer. About 70% of deaths from cancer occur in low- and middle-income countries.
As per World Ageing report, geriatric population is anticipated to nearly double from 12% to 22%, from 2015 to 2022. Furthermore, increase in the emergence of new technologies like biomarkers and point of care testing, inclination toward advanced less-painful and way more efficient tests from conventional tests, improved healthcare expenditure, growing awareness, and increased government support are the few more factors, which are boosting the growth of the cancer diagnostics market, globally.
However, stringent regulatory framework, lack of universal health coverage, expensive diagnostic procedures, are the few factors restraining the growth of the cancer diagnostics market, globally.
Key Market Trends
Diagnostic Imaging Tests Segment is Expected to Hold a Major Market Share in the Cancer Diagnostics Market
- The most commonly used screening test for cancer is diagnostic imaging tests. The different kinds of imaging techniques for cancer detection are Imaging (Radiology) Tests for cancer, CT Scans, MRI, Nuclear Medicine Scans, Ultrasound, Mammograms, X-rays, and Other Radiographic Tests and are considered as the most reliable ones.
- Factors that are responsible for the growth of this segment include the increasing awareness about the early detection of cancer, the growing incidence of various types of cancer, and the increasing government initiatives and support.
- Mammograms are the most widely used tests to diagnose cancers. Mammography is the gold standard technique used to screen breast cancer. Governments and other healthcare organizations around the world are taking initiatives to provide women, between the ages of 50 and 75, access to mammography screening.
- As per the Breastcancer.org in 2018, an estimated 266,120 new cases of invasive breast cancer were diagnosed in women only in the United States, along with 63,960 new cases of non-invasive breast cancer. Thus, owing to above factors the segment is expected to show growth in near future.
Asia Pacific is anticipated to grow rapidly in global Cancer Diagnostics market
- Asia-Pacific is expected to record a substantial growth over the forecast period, due to the existence of a large patient pool, availability of skilled professionals at a reasonable cost, and a distinct regulatory framework supporting accelerated product approvals and growing economic developments in countries like China and India and improved healthcare infrastructure.
- According to "India Against Cancer" report, total deaths due to cancer in 2018 in India are 7,84,821 out of which 4,13,519 are men and 3,71,302 are women.
- Market players in the APAC region are involved in partnerships and agreements to enhance the market growth in cancer diagnostics.
- For instance, In April 2019, Halifax signed an exclusive agreement with Genecast to make Immunoscore available in China. In June 2017, Agilent Technologies Inc. and Agendia Inc. have entered into an agreement to expand their relationship to include the development of an RNA-Seq kit version of Agendia's currently marketed MammaPrint and BluePrint tests.
- The cancer diagnostics market is highly fragmented, with the presence of a large number of local and international players. Key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, mergers, and acquisitions.
- For instance, in November 2018, Belgian molecular diagnostics company, Biocartis Group entered into an agreement with AstraZeneca to obtain faster lung cancer molecular diagnostic biomarker results in Europe.
- In March 2019, NeoGenomics Laboratories Inc. announced the launch of "Ventana PD-L1 (SP142) Assay" testing for tumour tissue testing in patients with a triple-negative subtype of breast cancer. The test recently approved by the FDA for patients who might respond to "TECENTRIQ", an immune checkpoint inhibitor in combination with chemotherapy.
- In March 2017, Biodesix Inc. and Progenetics LTD entered into an international agreement, where Progenetics will market and distribute kits for Biodesix's GeneStrat and VeriStrat liquid biopsy tests for patients with non-small cell lung cancer (NSCLC). Both tests are now available for clinical use in Israel.
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Table of Contents
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Increasing Ease of Cancer Diagnosis
- 4.2.2 Increasing Burden of Cancer Globally
- 4.2.3 Emergence of New Technologies such as Biomarkers and Point of Care Testing
- 4.3 Market Restraints
- 4.3.1 Limited Use in the Emerging Markets
- 4.3.2 Expensive Diagnostic Procedures
- 4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Diagnostic Type
- 5.1.1 Diagnostic Imaging Tests
- 5.1.2 Biopsy and Cytology Tests
- 5.1.3 Tumor Biomarkers
- 5.1.4 Other Diagnostic Types
- 5.2 By Application
- 5.2.1 Breast Cancer
- 5.2.2 Lung Cancer
- 5.2.3 Cervical Cancer
- 5.2.4 Kidney Cancer
- 5.2.5 Liver Cancer
- 5.2.6 Pancreatic Cancer
- 5.2.7 Ovarian Cancer
- 5.2.8 Other Applications
- 5.3 Geography
- 5.3.1 North America
- 220.127.116.11 United States
- 18.104.22.168 Canada
- 22.214.171.124 Mexico
- 5.3.2 Europe
- 126.96.36.199 Germany
- 188.8.131.52 United Kingdom
- 184.108.40.206 France
- 220.127.116.11 Italy
- 18.104.22.168 Spain
- 22.214.171.124 Rest of Europe
- 5.3.3 Asia-Pacific
- 126.96.36.199 China
- 188.8.131.52 Japan
- 184.108.40.206 India
- 220.127.116.11 Australia
- 18.104.22.168 South Korea
- 22.214.171.124 Rest of Asia-Pacific
- 5.3.4 Middle-East & Africa
- 126.96.36.199 GCC
- 188.8.131.52 South Africa
- 184.108.40.206 Rest of Middle-East & Africa
- 5.3.5 South America
- 220.127.116.11 Brazil
- 18.104.22.168 Argentina
- 22.214.171.124 Rest of South America
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Abbott Laboratories Inc
- 6.1.2 F. Hoffmann-La Roche Ltd
- 6.1.3 Siemens Healthcare GmbH
- 6.1.4 Thermo Fisher Scientific Inc.
- 6.1.5 GE Healthcare
- 6.1.6 Hologic Inc.
- 6.1.7 Illumina Inc.
- 6.1.8 Bio-Rad Laboratories, Inc.
- 6.1.9 Agilent Technologies Inc.
- 6.1.10 bioMerieux SA
7 MARKET OPPORTUNITIES AND FUTURE TRENDS